Mawson Restarts Drilling at the Palokas Gold Prospect in Finland
September 4, 2014 (Source: CNW) — Mawson Resources Limited (“Mawson”) or (the “Company”) (TSX:MAW) (Frankfurt:MXR) (PINKSHEETS: MWSNF) announces that the Company has recommenced drilling with a low impact core sampler at the Palokas prospect at the Rompas-Rajapalot project in Finland.
Drilling has started 300 metres south of the Palokas prospect where core sample results obtained within the last year have included 19.5 metres @ 7.4 g/t gold from 1.3 metres depth (see Mawson Press Releases October 03, 2013, October 16, 2013 and January 20, 2014).
Mr Hudson states, “This is the first time the Company has had the opportunity to drill across the entire Palokas trend at Rajapalot in Finland. Although the low impact rig will only test for near-surface targets, it has already proven a valuable tool in determining the prospectivity of the area. We understand the responsibility granted to us and we look forward to continuing to work closely with both the mining and environmental authorities over the coming years to ensure our work is conducted according to sustainable and global best practice methods.”
Drilling will be undertaken with a Company-owned and operated, hand portable, low impact rig, and will test for near surface chargeable anomalies, below 2-5 metres of glacial till overburden in the vicinity of gold bearing glacial boulders and subcrop. The plan is to drill within an area of 1.2 kilometres strike by up to 1.0 kilometres across strike. It is estimated between 40-65 individual core sample sites will be tested until October 31, 2014 with drilling being undertaken 24 hours per day, 6 days a week. The maximum depth of each hole will be 40 metres, while the average of all holes will be 15-20 metres depth. This will be heavily influenced by the amount of glacial overburden that is presence at each drill site. The outline of the program is shown in Figures 1 and 2.
Mawson has completed biological mapping of all areas where drilling will take place, and worked together with all authorities to minimize its impacts, including the capture of all drill cuttings, reduction in total machine weight and the placement of walkways to reduce foot traffic.
About Mawson Resources Limited (TSX:MAW, FRANKFURT:MXR, PINKSHEETS:MWSNF)
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Mawson Resources Limited is an exploration and development company. Mawson has distinguished itself as a leading Nordic Arctic exploration company with a focus on the flagship Rompas and Rajapalot gold projects 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
Forward Looking Statement
This news 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 summer drill program and anticipated exploration activities 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, permitting, 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>