Mawson Mobilizes Additional Drill Rig to Rajapalot Gold Prospect, Finland
April 24, 2014 (Source: Marketwired) — Mawson Resources Limited (“Mawson”) or (the “Company”) (TSX:MAW)(FRANKFURT:MXR) (PINKSHEETS:MWSNF) provides an update on drill progress at the Rajapalot gold prospect in Northern Finland.
- Over the last month, Mawson has completed 120 shallow diamond drill holes for 871.4 metres to test coincident geochemical and geophysical anomalies that lie immediately along strike from the Palokas gold prospect at Rajapalot, Finland. Geochemical assays are awaited (Figure 1);
- The Company plans to mobilize an additional in-house diamond rig to the same area shortly (Photo 1). This rig will test specific areas of interest defined by the recently completed shallow diamond drilling program.
Mr. Hudson, President & CEO, states, “Although drill assays are awaited, our Finnish technical staff recommend deeper drilling to follow-up on target areas defined by our recent shallow drill program. The aim of this new program is to further map and prospect areas of interest 600-800 metres along strike from the Palokas prospect, where recent core sample results included 19.5 metres @ 7.4 g/t gold from 1.3 metres (see Mawson Press Releases October 03, 2013, October 16, 2013 and January 20, 2014).“
In total, 120 drill holes were completed by independent drilling contractor Ludvika BorrTeknik AB, within an area of 2.5 kilometres by 0.5 kilometres. The average depth of each drill hole was 7.3 metres and the average thickness of glacial soil overburden was 3.9 metres. Geochemical assays are pending and will be released when available.
The aim of the new program is to drill deeper diamond holes around anomalous bedrock defined during the recent shallow diamond drill program, and gold-bearing glacial boulders of the same mineralization style as the Palokas prospect. The drill area is 600-800 metres along strike from the Palokas prospect. The rig is expected to be at site over the next 3 months, with 60-80 metres of drilling expected to be completed each week with drill holes ranging from 10-40 metres depth.
About Mawson Resources Limited (TSX:MAW)(FRANKFURT:MXR)(PINKSHEETS:MWSNF)
Mawson Resources Limited is an exploration and development company. Mawson has distinguished itself as a leading Scandinavian exploration company with a focus on the flagship Rompas gold project in Finland.
The qualified person for Mawson’s Finnish projects, Mr. Michael Hudson, President & CEO for Mawson and Fellow of the Australasian Institute of Mining Metallurgy has reviewed and verified the contents of this release.
On behalf of the Board,
Michael Hudson, President & CEO
This press release contains forward-looking statements or forward-looking information within the meaning of applicable securities laws (collectively, “forward-looking statements”). All statements herein, other than statements of historical fact, including statements regarding the planned drill program and anticipated exploration results, are forward-looking statements. Although Mawson believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions, or are those, which, by their nature, refer to future events. Mawson cautions investors that any forward-looking statements are not guarantees of future results or performance, and that actual results may differ materially from those in forward looking statements as a result of various factors, including, but not limited to, capital and other costs varying significantly from estimates, equipment failure, unexpected geological conditions, operational delays, environmental and safety risks, and other risks and uncertainties disclosed under the heading “Risk Factors” in Mawson’s most recent Annual Information Form filed on www.sedar.com. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, Mawson disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise.
To view Photo 1, please visit the following link: http://media3.marketwire.com/docs/maw0424photo.pdf.
To view Figure 1, please visit the following link: http://media3.marketwire.com/docs/maw0424fig1.pdf.