Mawson Commences Drilling at the Rajapalot Gold Prospect, Finland
March 25, 2014 (Source: Marketwired) — Mawson Resources Limited (“Mawson”) or (the “Company”) (TSX:MAW)(PINKSHEETS:MWSNF)(FRANKFURT:MXR) reports the commencement of a shallow diamond drill hole program to test coincident geochemical and geophysical anomalies that lie immediately along strike from the Palokas gold prospect at Rajapalot, Finland.
- Approximately 100 shallow diamond drill holes for 800 metres will be completed during the next month (Figure 1);
- The aim of the program is to map and define gold anomalous bedrock beneath glacial soils that cover 98% of the area and to refine targets for deeper drilling;
- Drilling will target gold-bearing outcrops and boulders that are coincident with induced polarization (IP), ground magnetic and VTEM conductive anomalies;
- The drill area is 600-1300 metres along strike from the Palokas prospect, where recent drill results include 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).
Mr. Hudson, President & CEO, states, “Our recent field work has defined a robust exploration target over 700 metres of strike outside the Natura 2000 biodiversity area, and is fully permitted for larger scale drilling. The aim of this program is to map and define targets beneath the ubiquitous and thin glacial deposits that mask most of the bedrock in Northern Finland. If this drill program is successful, we plan to mobilize larger diamond drill rigs to tests deeper targets in spring.”
The independent drilling contractor is Ludvika BorrTeknik AB and the drill program will take approximately 1 month to complete with initial results due soon after program completion.
In other news, the Finnish mining authority, TUKES, remains on track to make a decision regarding permitting the mobilization of larger drill rigs in Natura 2000 areas during the European summer.
About Mawson Resources Limited (TSX:MAW)(PINKSHEETS:MWSNF)(FRANKFURT:MXR)
Get our daily investorintel update
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
To view Figure 1, please visit the following link: http://media3.marketwire.com/docs/maw-fig1-0325.pdf.
Forward Looking Statement
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.
Raj Shah has professional experience working for over a half a dozen years at financial firms such as Merrill Lynch and First Allied Securities Inc., ... <Read more about Raj Shah>