VANCOUVER, Dec. 13, 2017 /PRNewswire/ - Mawson Resources
Limited ("Mawson") or (the "Company") (TSX:MAW) (Frankfurt:
MXR) (PINKSHEETS: MWSNF) is pleased to announce the
commencement of the Company's winter diamond drilling program at
the 100% owned Rompas-Rajapalot gold project in Finland.
Key Points:
- Winter diamond drill program is now underway with 15,000 drill
metres planned from December 2017 to
April 2018;
- One diamond drill rig has been mobilized to East Rompas with
2,000 metres to be drilled through to mid-January;
- Further drill rigs will be mobilized to Hirvimaa and Rajapalot
from mid to late January 2018;
Mr. Michael Hudson, CEO, states:
"We thank our shareholders and the team involved in Mawson's
recent brokered financing of $5.3
million. We are not wasting any time, with a drill rig
already on site to begin the Company's largest ever drill program
in Finland. We are
particularly excited to begin drilling at our new East Rompas
project, where exceptionally high-grade gold has been discovered in
outcrop and mini-drill sampling including 2,375 g/t gold;
1,284 g/t gold; 642 g/t gold and 216 g/t gold. We will add
additional drill rigs in the new year, to test a range of high
priority targets."
The 15,000 metre winter program plans to both extend known gold
mineralization and test new exploration targets. Drilling at
known gold areas near Palokas, Palokas South, South Rajapalot and
Raja shall follow up on previous gold mineralized intersections,
with an aim to define maiden resources. At East Rompas,
Hirvimaa and Rajapalot, new exploration targets with extensive
surface data shall be tested. In addition, fast and
cost-effective grid base-of-till drilling will be used to discover
and test targets along a 20 kilometre strike extent of the new East
Rompas high grade gold prospect.
One diamond drill rig has been mobilized to East Rompas with
2,000 metres of drilling planned by mid-January. Further
drill rigs will be mobilized to Hirvimaa and Rajapalot from mid to
late January when snow cover is sufficient and final drill permits
are received. East Rompas is located approximately 500 metres east
of the 6 kilometre long Rompas high-grade vein system where drill
results include 6 metres @ 617 g/t in drill hole
ROM0011. Discovery samples were reported on October 11, 2017 and October 23, 2017. To date a total of 30
grab samples (27 from outcrop) range from 0.1 g/t gold to 2,375
g/t gold, with an average grade of 201.1 g/t gold and a median of
0.82 g/t gold. Gold mineralization discovered in outcrop
is fracture controlled and associated with strongly biotite-altered
mafic rocks, believed hydrothermal in origin, and similar to the
undrilled Joki prospect at Rajapalot. Gold mineralization has been
discovered sporadically in two semi-parallel trends, perhaps as
part of an en echelon array within a 750 metre long NNW-SSE
oriented zone, where the width of the individual occurrences are at
least 20 metres. Outcrop is poor and forms less than 5% of the
area. The northern mineralized zone is better exposed than the
southern zone.
Technical Background
The qualified person for Mawson's Finnish projects, Dr.
Nick Cook, President for Mawson and
Fellow of the Australasian Institute of Mining Metallurgy has
reviewed and verified the contents of this release.
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 Nordic Arctic
exploration company with a focus on the flagship Rompas and
Rajapalot gold projects in Finland.
On behalf of the Board,
"Michael Hudson"
Michael Hudson, Chairman &
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, 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, changes in world metal markets,
changes in equity markets, planned drill programs and results
varying from expectations, delays in obtaining results, equipment
failure, unexpected geological conditions, local community
relations, dealings with non-governmental organizations, delays in
operations due to permit grants, 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.
SOURCE Mawson Resources Ltd.
