Mawson Intersects 19.0 Metres at 2.3 g/t Gold at Palokas, Finland
January 20, 2014 (Source: Marketwired) — Mawson Resources Limited (“Mawson”) or (the “Company”) (TSX:MAW)(FRANKFURT:MXR)(PINKSHEETS:MWSNF) announces further intersections of strong gold mineralization from the Palokas gold project at Rompas in Finland.
- Highlighted intersections include:
- 19.0m @ 2.3 g/t gold from 8.0 metres from PRAJ0022; and
- 8.7m @ 4.6 g/t gold from 16.9 metres from PRAJ0025;
- Exploration at Palokas is at a very early stage. Gold mineralization is covered by shallow glacial till deposits and remains open in all directions, with many holes stopping in mineralization;
- Sampling is coincident with a VTEM geophysical conductor that extends for more than 500 metres through an area with less than 1% outcrop, and forms part of a 3.5 kilometre target horizon between basaltic and quartzitic rocks;
- A 26 kilometre induced polarization (“IP”) geophysical survey that tested 5 kilometres of target horizon along strike from the drill area at Palokas has just been completed;
- Core sampling continues at Palokas and further results are pending.
Mr Hudson, the Company’s President & CEO, states, “The high degree of continuity of gold mineralization at Palokas is further emphasized by these new shallow core sample results. Mineralization continues from surface and all mineralized sections remain open down dip. We look forward to extending core sampling along strike from the area already tested, with more than 3.5 kilometres of strike potential defined by anomalous gold surface samples and geophysical responses.”
A plan view of the core sampling, a complete series of cross sections and a longitudinal section are shown in Figures 1-10, while Tables 1 and 2 show full collar and summary assay information. Better results returned from holes PRAJ0010 to PRAJ0024 are shown below:
|PRAJ0022||19.0m @ 2.3 g/t gold from 8 metres|
|PRAJ0025||8.7m @ 4.6 g/t gold from 16.9 metres|
|PRAJ0023||9.9m @ 2.2 g/t gold from 18.6 metres||Stopped in mineralization|
|PRAJ0024||7.9m @ 2.7 g/t gold from 28.1 metres||Stopped in mineralization|
|PRAJ0020||3.0m @ 4.2 g/t gold from 5.2 metres|
Twenty-four core sample holes have been completed to date along a strike length of 150 metres, and a further five core holes are planned to test an additional 50 metres of the strike potential at Palokas. Finely disseminated gold mineralization occurs within magnesian chlorite-biotite-tourmaline-pyrrhotite rich rocks between mafic rocks and relatively oxidized quartzites. The true thickness of the mineralized interval is interpreted to be approximately 80% of the sampled thickness.
Additionally, the 26 kilometre gradient array IP and 480 metres of pole-dipole IP geophysical surveys have just been completed. These surveys tested approximately a 5 kilometre trend to the north and south of the Palokas drill area. Ground magnetic measurements remain ongoing at Palokas. These results will be made available shortly.
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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 core sampling was undertaken by Mawson Staff who provided EW (25.2 mm) diameter core. Core recoveries were excellent and average close to 100% in fresh rock. After photographing and logging, core intervals averaging 1 metre in length were cut in half at the Geological Survey of Finland (GTK) core facilities in Rovaniemi, Finland. These half-core one metre samples weigh less than 0.7 kilograms. The remaining half core is retained on site for verification and reference purposes. Analytical samples were transported by Mawson or GTK personnel from GTK to the Labtium Oy (“Labtium”) laboratory in Rovaniemi, Finland where they were prepared and analyzed for Au by 705P techniques and multi-element analysis by XRF technique (pellet), method +175X. The QA/QC program of Mawson consists of the systematic insertion of certified standards of known gold content, with blanks at the beginning of each batch. In addition, Labtium inserts a number of blanks and standards into the analytical process. 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
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.
|Table 1: Collar Information from the hand portable low impact core sampler from the Palokas Prospect|
|PRAJ0003||3408688||7373822||118||60||0.0||20.19||03 Oct 2013|
|PRAJ0004||3408681||7373826||116||60||0.8||19.63||16 Oct 2013|
|PRAJ0005||3408673||7373830||116||60||4.2||19.26||16 Oct 2013|
|PRAJ0006||3408686||7373839||116||60||1.3||29.04||16 Oct 2013|
|PRAJ0007||3408705||7373831||116||60||5.0||5.0||16 Oct 2013|
|PRAJ0008||3408696||7373836||116||60||0.3||13.3||16 Oct 2013|
|PRAJ0009||3408692||7373859||116||60||2.5||34.95||16 Oct 2013|
Table 2: Assay data from the hand portable low impact core sampler from the Palokas Prospect – new results from core sample holes PRAJ0010-PRAJ0025. Holes PRAJ0007 and PRAJ0019 failed to intersect bedrock. Holes PRAJ0015-17 contained no significant assays, holes PRAJ0011-14 were short holes less than 8 metres depth and contained no significant assays. A lower cut of 0.5 g/t over 2 metres was applied.
|PRAJ0003||0||9||9.0||10.2||3 Oct 2013|
|PRAJ0003||12||13||1.0||0.6||3 Oct 2013|
|PRAJ0004||2||10.25||8.3||5.9||16 Oct 2013|
|PRAJ0005||6.65||19.22||12.6||3.6||Stopped in mineralization||16 Oct 2013|
|PRAJ0006||1.3||20.8||19.5||7.6||16 Oct 2013|
|PRAJ0008||0.3||8||7.7||1.4||16 Oct 2013|
|PRAJ0009||2.5||7.9||5.4||37.6||16 Oct 2013|
|PRAJ0009||13.9||14.7||0.8||0.6||16 Oct 2013|
|PRAJ0009||22.7||23.7||1.0||2.6||16 Oct 2013|
|PRAJ0009||25.4||28.25||2.9||2.3||16 Oct 2013|
|PRAJ0009||30.25||31.25||1.0||0.6||16 Oct 2013|
|PRAJ0009||32.25||33.25||1.0||0.7||16 Oct 2013|
|PRAJ0023||18.62||28.52||9.9||2.2||Stopped in mineralization||Here|
|PRAJ0024||28.05||35.95||7.9||2.7||Stopped in mineralization||Here|
To view Figure 1 please visit the following link: http://media3.marketwire.com/docs/922882fig1.pdf
To view Figure 2 please visit the following link: http://media3.marketwire.com/docs/922882fig2.pdf
To view Figure 3 please visit the following link: http://media3.marketwire.com/docs/922882fig3.pdf
To view Figure 4 please visit the following link: http://media3.marketwire.com/docs/922882fig4.pdf
To view Figure 5 please visit the following link: http://media3.marketwire.com/docs/922882fig5.pdf
To view Figure 6 please visit the following link: http://media3.marketwire.com/docs/922882fig6.pdf
To view Figure 7 please visit the following link: http://media3.marketwire.com/docs/922882fig7.pdf
To view Figure 8 please visit the following link: http://media3.marketwire.com/docs/922882fig8.pdf
To view Figure 9 please visit the following link: http://media3.marketwire.com/docs/922882fig9.pdf
To view Figure 10 please visit the following link: http://media3.marketwire.com/docs/922882fig10.pdf
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