VANCOUVER, June 7, 2010 /PRNewswire/ -- Mawson Resources
Limited ("Mawson") TSX - MAW; Frankfurt - MRY - Mr Michael Hudson, President & CEO, is pleased
to report bonanza-grade gold and uranium results from surface
sampling at the 100% owned Rompas project, recently acquired from
AREVA NC ("AREVA") in Finland.
Rompas is a new gold and uranium discovery made by AREVA in 2008
and is secured by 11,870 hectares of claim applications. Bonanza
grade gold and uranium mineralization has been discovered at
surface over an area exceeding 6km in strike and 200m in width.
From samples selected for assay, results include values up to
12,800 g/t gold and 43.6% uranium and are outlined in Table 1
below:
Table 1: Summary of Areva and Mawson Surface Grab Sampling at Rompas,
oz/ton (equal sign) troy ounce per short ton;
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Areva Mawson Areva Mawson
Gold (g/t) Gold (g/t) Uranium (ppm) Uranium (ppm)
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Average 1,146 224 27,292 36,088
(33.4 oz/ton) (6.5 oz/ton) (2.7%) (3.6%)
-------------------------------------------------------------------------
Maximum 12,800 1,830 249,000 435,500
(373.3 oz/ton) (53.4 oz/ton) (24.9%) (43.6%)
-------------------------------------------------------------------------
Minimum 0.1 0.01 13 2
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Number of
Samples 20 21 20 21
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AREVA selected 20 samples for assay from 150 radiometrically
anomalous sites discovered to date at Rompas over a NNW-SSE
trending area 6km long by 200m wide. During due diligence, Mawson
collected 21 bedrock samples from two zones, the first area 400m X
100m and the second area 120m X 50m in size within a 5km strike
trend (Table 1). Rocks collected by both companies for assay were
grab samples taken from outcropping rock. Grab samples are
selective by nature and are unlikely to represent average grades on
the property. As is typical for Northern
Finland, outcrop in the project area is not common. To date,
no systematic channel sampling across structures has been
undertaken. Of significance, some samples assayed high gold without
elevated uranium, providing scope for the discovery of gold-only
mineralization. Mineralization continues at the extremities of the
6km trend under glacial soil cover.
Mineralization appears to be hydrothermal in nature and
fracture-controlled, hosted mainly by metavolcanics which may in
part be skarnified and/or hornfelsed. Uranium is found in the form
of uraninite. Native gold and uraninite are generally identified at
surface in limonitic fractures within metavolcanic host rocks.
Mr Hudson states, "Rompas is an exciting new gold and uranium
discovery made by AREVA in Finland, now 100% owned by Mawson. This
flagship project clearly defines Mawson's status as a gold and
uranium explorer. To find such high gold and uranium grades at
surface in an area with no previous exploration or drilling
provides Mawson with a tremendous discovery opportunity. The broad
extent of high grade samples over 6km of strike is extremely
encouraging. We look forward to a busy and exciting summer field
program in Finland."
Mawson is planning an active 2010 summer field season at Rompas
including geological mapping, geochemical sampling and airborne
geophysics. Full details of the program will be released shortly.
The Company will benefit by employing many of AREVA'S geological
team responsible for the initial discoveries. The Rompas project is
secured by claim applications and drilling and trenching will be
permitted on granting of exploration claims. The granting of claims
in Finland is currently slow and
Mawson will work with the authorities to facilitate this process in
the shortest possible time. Mawson has already been working in
conjunction with AREVA to engage consultants who shall provide
expert opinion on Natura 2000 areas contained within the project
area. In addition, a NI43-101 technical report is under preparation
and is expected to be finalized and filed shortly.
AREVA is a major shareholder of Mawson, currently holding 11% of
the Company, plus an option to purchase an additional 8% by
exercising 4.2 million purchase warrants at $1/share. The portfolio purchased from AREVA
totals 16,156 hectares and doubles Mawson's strong claim position
in Scandinavia. Mawson is compiling information from three other
projects recently acquired from Areva and will release further
information as it becomes available.
The following links for the Rompas project have been posted on
Mawson's website:
- Location of Areva's Finnish Exploration Projects Purchased by Mawson
with Uranium Channel Radiometric Background:
http://www.mawsonresources.com/i/maps/2010-06-01-map1.jpg
- Map of Rompas Project Secured by 11,870 Hectares of Claim
Applications with Aeromagnetic Image Backdrop:
http://www.mawsonresources.com/i/maps/2010-06-01-map2.jpg
A webcast interview of Mr Hudson discussing the Rompas project
is available at
http://www.mininginteractive.com/videos/videos.php?link(equal
sign)20100607_Mawson&tabselect(equal sign)mawson.
About Mawson Resources Ltd (TSX:MAW, FRANKFURT:MRY,
PINKSHEETS:MWSNF)
Mawson Resources Ltd is a natural resource acquisition and
development company with METAL and ENERGY interests.
Mawson has distinguished itself as the leading Scandinavian
uranium exploration company, with advanced projects in Sweden and Finland. As the European Union moves to reduce
its reliance on carbon-based energy sources and continues to debate
energy security, Mawson is well positioned to provide Europe with the option to fuel its future.
Areva NC holds 11% of the Company and provides Mawson with an
active technical partner.
In addition, the Company is exploring for gold and copper in the
highly prospective Cordillera of Peru, with a focus on a new high grade gold
discovery at Alto Quemado.
With a strong cash position and a multi-jurisdiction European
and South American portfolio, Mawson is ideally positioned to
enhance its status as a leader in the uranium and gold
industries.
Shares Outstanding: 42,697,253. Cash: approximately C$9.5 million.
On behalf of the Board,
"Michael Hudson"
----------------------------------
Michael Hudson, President &
CEO
Forward Looking Statement. The statements herein that are not
historical facts are forward-looking statements. These statements
address future events and conditions and so involve inherent risks
and uncertainties, as disclosed under the heading "Risk Factors" in
the company's periodic filings with Canadian securities regulators.
Actual results could differ from those currently projected. The
Company does not assume the obligation to update any
forward-looking statement. The TSX Exchange has not reviewed and
does not accept responsibility for the adequacy or accuracy of this
release.
Quality Control. Mawson samples were analyzed by ME-MS81,
U-XRF05, XRF-10, Au-GRA21 and Au-AA25 techniques by ALS Chemex
Ltd's laboratories in Pitea, Sweden and Vancouver, Canada. Areva's samples were
assayed at the Labtium Oy laboratory in Rovaniemi, Finland by methods 511P and 704P. The results
of the duplicate laboratory analyses appear to be acceptable
however no field standards or blanks were included in the sample
stream.
The qualified person for Mawson's Finnish projects, Erkki Vanhanen, Finnish Exploration Manager for
Mawson with a designation of European Geologist for the European
Federation of Geologists (EFG), has reviewed and verified the
contents of this release.
For further information: Investor Information,
http://www.mawsonresources.com, 1305 - 1090 West Georgia St.,
Vancouver, BC, V6E 3V7, Company
Contact: Mariana Bermudez,
+1(604)685-9316; Investor Relation Consultants - Mining
Interactive, Nick Nicolaas,
+1(604)657-4058, Email: info@mawsonresources.com
