Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
No NI report out yet, but should do really well when it comes out.
Drilling program underway now.
MAW.TO / MWSNF is a company based in Finland with some really nice upside potential
Core Sample Results
http://www.azomining.com/news.aspx?newsID=8793
The text since the article itself may not stay online.
Mawson Resources climbs on high grade gold core sampling results from Rompas prospect
By Deborah Sterescu October 04 2013, 9:14pm
Highlights include an intersection of 9 metres at 10.2 grams per tonne (g/t) gold from surface, including 3 metres at 27.5 g/t gold from hole PRAJ0003. Highlights include an intersection of 9 metres at 10.2 grams per tonne (g/t) gold from surface, including 3 metres at 27.5 g/t gold from hole PRAJ0003.
Mawson Resources (TSE:MAW) shares jumped on Thursday on core sampling results from the Palokas gold prospect at its Rompas property in Finland.
The results represent the first core sampling from the prospect, which is located within the Rajapalot area, 7 kilometres east of the company's drilling in the vein style mineralization at Rompas. Highlights include an intersection of 9 metres at 10.2 grams per tonne (g/t) gold from surface, including 3 metres at 27.5 g/t gold from hole PRAJ0003.
An airborne geophyscial survey at Rajapalot indicates that mineralization discovered in this hole is coincident with a conductor that extends for more than 500 metres, according to a statement released Thursday.
Shares of Mawson rose more than 22 per cent in early deals, to 43 cents.
"This is the first core test of the disseminated style of gold mineralization at the Rompas project," said president and CEO Michael Hudson in the release. "This result has validated our prior limited surface sampling, with hole PRAJ0003 producing the widest and most consistent gold grades at Rompas to date."
The company said Thursday that near-surface core sampling will continue at Palokas, with further results still pending. Six core sample holes have been completed so far at the prospect, over a 35-metre strike, with a further 18 core holes planned.
The stellar hole announced today was slightly offset from a previous sampled rock chip panel, which averaged 13.4 g/t gold and 226 parts per million (ppm) uranium over 9 metres.
The company says Palokas is located in an EU-defined biodiversity Natura 2000 area, where at this stage of permitting, it is entitled to 100% of the mineral rights, with certain limitations on exploration methods that can be completed, including no larger scale drilling or mechanical trenching.
Mawson has applied for a modification of this decision as it seeks permission to conduct larger scale drilling in these areas, with a decision not expected until the first quarter of next year. An environmental study has been completed that defined the impact that Mawson's exploration work will have on the "biodiversity values", the company said, with the key consultant on the study being one of the biologists who mapped the Natura 2000 area in the late 1990s.
Separately, the company said two diamond drill holes have been completed at a high angle to previous drill orientations at South Rompas, while diamond drilling is also in progress at the Kaita prospect, with results pending.
--------------
The big issue continues to be permitting - whether company will be allowed to fully explore and then bring to production the resources in the Natura 2000 conservation area. Company will put best face forward on this but I don't think anyone knows the outcome. Share price reflects the uncertainty along with malaise among all junior explorers. Even with world class prospects Mawson can't escape the sharp drop in investor sentiment. The do have well heeled investor/partners and can wait it out.
My other fav explorer which is just now becoming a producer is Mexus Gold US, MXSG. Good prospects in the Sonoran Gold Belt but trading at a 52 week low of 7.5 cents US. MXSG too is awaiting permitting on one of its two Mexican properties.
Dick Williams
Kansas City MO
Latest update from Mawson on high grade samples from the Rajaplot site to the east of main Rompas site.
http://www.proactiveinvestors.com/companies/news/39379/mawson-resources-discovers-up-to-1520-gt-gold-at-rajapalot-northern-finland-39379.html
The grade cited is in the incredible realm -doesn't mean the entire area holds grades of that magnitude but the number of high grade grab and channel samples is - pick your superlative - "world class", "bonanza", or simply "incredible".
The drilling program will show the extent in the vertical - some of that work should be published by summer and the beginnings of a total resource estimate may come to light.
Share prices were up about 6 cents on Monday's press release - not much second day carryover. At 10 am Tuesday morning 1-15-13 MAW 1.72 and MWSNF 1.73 with very little volume. Quite a bit of anticipation is built into even those prices since Mawson is still years away from first metal pour or uranium production but the prospects look great. Not sure where or how strong the real "run" is share price takes place - well before production I'd guess - perhaps this summer when we get drilling results and if and when permitting for the major parts of work on Rompas itself should provide another step up.
Anybody here? Not much message board traffic - small shareholder base but quite a few large groups are investing so this one is known but not not widely. It will be.
rjw/mkc
Write up on Mawson *read*
SWA blog
http://su.pr/1iaWHc
Mawson to Exchange Scandinavian Uranium Assets for Shares
VANCOUVER, Dec. 7, 2011 /CNW/ - Mawson Resources Limited ("Mawson" or the "Company") (TSX: MAW) (Frankfurt: MRY) Mr. Michael Hudson, President & CEO, announces that the Company has signed a letter of intent (the "LOI") with Tournigan Energy Ltd. (TSXV: TVC) ("Tournigan") whereby Tournigan will acquire seven of Mawson's uranium exploration projects located in Sweden and Finland for aggregate consideration of 53,639,848 common shares of Tournigan (the "TVC Shares"), representing approximately 20.5% of Tournigan's issued capital post-closing of the transactions.
Pursuant to the LOI, Tournigan has agreed that immediately prior to the acquisition AREVA, ranked first in the global nuclear power industry, a key player in uranium mining and one of Mawson's largest and most significant shareholders will participate in an exclusive private placement with Tournigan, enter into a Technical Services Agreement and nominate a representative to the Tournigan board. Subsequently, Tournigan will change its name to "European Uranium Resources Ltd." and complete a consolidation of its shares on a 1 new for 5 old basis.
The exchange of Mawson's non-core uranium interests pursuant to the LOI for shares in a dedicated uranium exploration and development company forms part of the reorganization of the business and capital of Mawson, together with the spin out of its Peruvian assets announced in the Company's news release of November 30, 2011. Subject to obtaining necessary approvals, Mawson will distribute the TVC Shares to its shareholders in conjunction with the spin out of its Peruvian assets and overall reorganization of its business and capital. Further details on these transactions will be announced as soon as all the legal, tax and procedural formalities are finalized.
The seven uranium projects that Tournigan will acquire are the Hotagen, Duobblon, Kapell and Aronsjö projects in Sweden and the Riutta, Asento and Nuottijärvi projects in Finland.
Mr. Hudson states, "Mawson's 100% owned Rompas gold discovery in Finland has developed into a significant project that will take a majority of Mawson's focus and resources for the foreseeable future. The Board has therefore decided to exchange its non-core uranium interests for a significant shareholding in a dedicated European uranium exploration and development company with a strong shareholder and technical partner in AREVA, the largest integrated nuclear company in the world. On distribution of the shares, Mawson shareholders shall own approximately 20.5% of the restructured Tournigan which will continue as European Uranium Resources Ltd."
The LOI is subject to normal conditions precedent for these types of transactions, including finalization of a formal purchase agreement, satisfactory due diligence by both parties and acceptance by regulatory authorities.
About Mawson Resources Limited (TSX:MAW, FRANKFURT:MRY, PINKSHEETS:MWSNF)
Mawson Resources Limited is a resource acquisition and development company. The Company has distinguished itself as a leading Scandinavian exploration company with a focus on the flagship Rompas gold project in Finland.
Shares Outstanding: 51,680,753. Cash: approximately C$11.0 million.
On behalf of the Board,
"Michael Hudson"
Michael Hudson, President & CEO
MAWSON PROPOSES A SPIN-OUT AND NEW CEO OF ITS PERUVIAN ASSETS
Vancouver, Canada – Mawson Resources Limited (“Mawson”) TSX – MAW; Frankfurt – MRY. Mr Michael Hudson, President & CEO, announces that the Company anticipates undertaking a spin-out of its Peruvian assets (the “Spin-Out”) that would reorganize the business and capital structure of Mawson into two separate public companies to allow Mawson to focus on the development of its flagship Rompas property in Finland.
Pursuant to the proposed Spin-Out, Mawson has incorporated a new subsidiary (“Darwin Resources Corp” or “Darwin”) to which it will transfer all of the outstanding shares of Mawson Peru S.A.C. and 100% of its rights and interests in Altynor Peru S.A.C. The shares of Darwin will be distributed to shareholders of Mawson as a return of capital by way of a plan of arrangement (the “Arrangement”) under the Corporations Act (British Columbia). The Arrangement will be voted on at a special meeting of Shareholders of Mawson which is anticipated to be held in early 2012, and will be subject to numerous conditions including shareholder and court approval, approval by, and listing of the Darwin shares on either the TSX Venture Exchange or the TSX and completion of all required regulatory filings.
The Company is also pleased to announce that Darwin’s President & CEO will be Dr. Graham Carman. Dr. Carman has 25 years global exploration experience and 7 years direct exploration and managerial experience in Peru, firstly with Rio Tinto and then with Savage Resources and Pasminco Ltd as Exploration Manager until 2000. Until recently he was the founder and Managing Director of Paradigm Metals Ltd (ASX:PDM). He obtained his geological doctorate from Monash University in Melbourne studying the world-class Lihir Island gold deposit PNG. He will join Darwin full time from 1 January 2012.
Additional details of the Spin-Out and the time and place for the meeting will be announced as soon as all the commercial, legal and procedural formalities are finalized. It is proposed that the record date for shareholders entitled to receive shares of Darwin pursuant to the Arrangement would be the effective date of the Arrangement.
Darwin will own a highly prospective early stage portfolio of Cu-Au Peruvian assets that include the Alto Quemado (Cu- Au), Huatiapa (Cu-Au), Carrizales (Cu), Vicunas (Au) and Luminaria (Au) projects. In addition, Darwin will have a 100% interest in one of the strongest exploration databases in Peru.
Mr Hudson states, “Mawson’s 100% owned Rompas gold discovery in Finland has developed into a significant project that will take a majority of Mawson’s focus and resources for the foreseeable future. Nevertheless, an experienced team has been working diligently over the last year to acquire a prospective gold and copper portfolio in Peru. The Board has decided that shareholders will benefit by placing the Company’s Peruvian assets in a standalone vehicle. We are thrilled that Dr. Graham Carman has accepted the role to run Darwin. He will manage a first class team headed by both Mr Georg Winkelmann as Managing Director of Darwin’s Peruvian companies and Mr Rolando Ligarda as Darwin’s Exploration Manager for South America. Importantly, all three gentlemen have a long and successful history working together over the last 16 years. We look forward to announcing further details regarding the Darwin spin-out as they become available.”
MAWSON UPDATES PERMIT STATUS AT ROMPAS IN FINLAND
Vancouver, Canada – Mawson Resources Limited (“Mawson”) TSX – MAW; Frankfurt – MRY. Mr Michael Hudson, President & CEO, announces that a decision has been made by TUKES (the Finnish Safety and Chemical Agency) to grant 110 exploration claims that cover a surface area of 10,580 hectares at Mawson’s Rompas gold project in northern Finland for a period of 3 years. An application to extend this period can be made within 3 years. The decision will take legal effect after a standard public appeal process. Further information as to the outcome of this process will be known in early December.
The decision outlines:
? Granting of the mineral rights over the entire claim area to Mawson once the decision takes legal effect; and
? Limitations on exploration methods that can be completed in the Natura 2000 areas within the exploration claims, including no drilling or trenching due to the presence of specific flora. The Natura 2000 area over the known 6 km mineralized zone is small and covers 254 hectares but overlies approximately 70% of the trend. There are also other Natura 2000 areas in the claim area. Mawson is entitled to apply for a modification of this decision by conducting an environmental program (a Natura 2000 assessment) to address these observations in order to obtain permission to conduct drilling and trenching in these areas.
Mr Hudson states, “This is the key step in the granting of exploration claims at Rompas. We await the finalization of the remaining legal process, and once complete this will allow the Company to commence a large drill program on the project”.
Shares Outstanding: 51,670,753; Cash: approximately C$11 million. On behalf of the Board,
MAWSON CHANNEL SAMPLES 1.4 METRES @ 2,529 g/t GOLD AND 5.1 % URANIUM OXIDE AT ROMPAS IN FINLAND
Vancouver, Canada – Mawson Resources Limited (“Mawson”) TSX – MAW; Frankfurt – MRY. Mr Michael Hudson, President & CEO, announces new channel sample results from the 2011 exploration program and updates on work completed at the Company’s 100% owned Rompas project in northern Finland.
Highlights include:
? Discovery of the best grade gold zone to date;
? Expansion of the known mineralized footprint in all directions;
? Demonstration of continuity of mineralization between previously isolated high grade mineralized sites over greater than 100 m;
? Identification of non-radioactive gold-only mineralized areas.
A detailed map showing the location and distribution of these and earlier channel and grab samples can be downloaded from the Company’s website at http://www.mawsonresources.com/i/maps/Rompas_PLANOCT312011.pdf (Figure 1).
These new channel sample results include the best surface trench sample discovered on the property to date of 1.40 m @ 2,529 g/t Au and 5.1 % U3O8 at North Rompas. This discovery was made under soil cover, in a location that was not known to be mineralized prior to manual excavation of the trench. Additional highlights include 1.13 m @ 343.6 g/t Au and 0.21 % U3O8 and 0.5 m @ 269.0 g/t Au and 0.99 % U3O8. In all, 152 diamond saw cut channel samples have been collected in 2011, for a total 732.3 metres of sampling. The weighted average of all 74 channel intervals from the 2011 program at Rompas that exceed the lower cut-off of 0.1 g/t gold or 100ppm uranium over one metre is 1.40 m @ 51.9 g/t Au and 0.13 % U3O8. Lengths of the channeled intervals ranged from 0.2 m to 8.8 m and the cumulative length of all channels above the lower cut-off of 0.1 g/t gold or 100ppm uranium was 88.0 m. Mineralized intervals that exceeded a higher +1 g/t gold lower cut-off over one metre are show in Table 1.
As the Rompas project is secured by exploration claim applications, sampling has been restricted to hand trenching through soil to access bedrock for diamond saw channel sampling. In many cases continuous cut channels are interrupted by deeper weathered zones, especially when carbonate rich gold and uranium mineralization is present. In these cases weathered bedrock is sampled as a channel, but with a lower level of confidence in the insitu grade of mineralization than the unweathered channels.
Supported by this new set of trench sampling results, the Company believes the 2011 work program at Rompas has been successful in:
1. EXTENDING THE MINERALIZED ZONE
Prospecting during this field season has significantly expanded the mineralized area (Figure 1). The footprint of mineralization now extends over greater than 6km in strike and up to 270 metres in width. Data from North Rompas (Figure 2), the newly discovered Central Rompas (Figure 3) and South Rompas (Figure 4) has provided a much clearer picture of grade and distribution of mineralization.
New bedrock discoveries in addition to those provided above include:
? 0.8m @ 31.90 g/t Au and 0.20% U3O8 made 50 m north west of previous known mineralization in North Rompas;
? 0.5m @ 269.00 g/t Au and 0.99% U3O8 and 0.75m @ 65.60 g/t Au and 0.19% U3O8 made 450m north of South Rompas (now Central Rompas);
2
? 0.65m @ 43.90 g/t Au and 0.19% U3O8 made 800 m north of South Rompas (now Central Rompas);
? 0.5m @ 10.55 g/t Au and 0.04% U3O8 and 0.55m @ 10.65 g/t Au and 0.98% U3O8 made 450m south east of South Rompas.
2. DEMONSTRATING CONTINUITY BETWEEN HIGH GRADE GOLD AND URANIUM SITES DISCOVERED DURING THE 2010 PROGRAM
New mapping and detailed trench sampling data has demonstrated continuity of gold anomalous zones for the first time at the project so identifying high priority drill targets. Detailed trench sampling was used to expand across zones previous only known for spot high grade gold and uranium. In the northern zone of North Rompas, en echelon and continuous mineralization has now been defined at a consistent grade of +0.1 to 0.5 g/t gold over at least 130 m of strike. Four main intervals were defined across a 55 m wide zone (Figure 5) with intermittent high grade gold and uranium values.
3. DETERMINING WALL/COUNTRY ROCK GRADE ON THE MARGINS OF BONANZA GRADE GOLD LOCATITIES
Radioactive prospecting was the principal exploration technique applied by Mawson in 2010, which proved very successful in the discovery of high grade uranium (and gold) mineralization under thin soil cover. This technique, however, provides little information on the continuity of mineralization at lower grades and the mineralization potential of non-radioactive rocks at Rompas. In 2011, many gold occurrences have been discovered with minor or no uranium. Examples are 4.75 m @ 7.46g/t Au and 39.2ppm U3O8 (TR108550), 0.7m @ 5.58 g/t Au and 14.2ppm U3O8 (TR108518b) and 1.5 m @ 1.43g/t Au and 2.5ppm U3O8 (TR108566). As only about 10% of bedrock outcrops in the discovery area, these ‘gold only’ samples indicate significant potential to make further discoveries that are invisible to radiometric prospecting.
Additionally, further mineralization has been found in country rock adjacent to some of the high grade mineralized intervals discovered in 2010. For example, the previously reported 2010 trench 107429 returned 0.77m @ 301.75 g/t Au and 1.29% U3O8. Further trenching to the west and across strike extended this intersection in trench TR108555 to a combined result of 3.47m @ 68.30 g/t Au and 0.29% U3O8 in trench comb_107429_TR108555.
“Mawson has significantly advanced its understanding of the Rompas gold project during this year’s field season. The good news is that the more we look at Rompas, the more mineralization we find across a broad surface area predominately covered by shallow glacial soils. This year’s program has been successful in achieving its multiple aims. The project is now ready for drilling to test its potential in the third dimension. Given the scale and tenor of mineralization found to date, Mawson is committed to a large drill program once exploration claims are granted” said Mr Hudson.
The Rompas mineral system is hosted by metabasalt, dolomite, calc-silicate, dolerite and volcaniclastics, all part of the Palaeoproterozoic Perapohja Schist Belt. These rocks have undergone at least two major deformation events, leading to a locally strong schistosity (oriented 320-340 degrees) and metamorphism up to amphibolite-grade resulting in diopside- tremolite-actinolite assemblages in the calc-silicate rocks.
Gold and uranium mineralization at Rompas is hosted by a quartz-calc-silicate vein array and related alteration selvedges. The veins are typically composed of calc-silicate minerals (diopside-tremolite-actinolite-calcite-quartz +/- uraninite, gold) with alteration selvedges of amphibole-biotite-albite-K feldspar. Individual veins at Rompas are up to 1m wide, with alteration selvedges of similar widths to the veins, but are part of a much larger, interconnected vein array. The veins appear to have been emplaced prior to the main deformation event, are deformed by it, and are metamorphosed, although a small percentage of veins are within the main cleavage. The deformation event has affected the veins, which are locally boudinaged and folded.
The spectacular, bonanza gold and uranium grades are generally contained in pods of calcite, amphibole and uraninite, often associated with boudinaged “ladder veins” within the more extensive vein system, indicating they could be local upgraded remobilizations from the veins. 2011 sampling has extended the footprint of the mineralization at North Rompas, and at South Rompas into Central Rompas over 6 km by 270 m wide. The ‘footprint’ approximates the extent of the known vein array. At present there appear to be two vein arrays at North and South to Central Rompas over a combined strike length of 3.5km; however there is little outcrop between these zones. Controls on the mineralization and vein distributions are not known as yet. All the known gold and uranium occurrences at Rompas are on a NNW trending ridge, with scattered outcrop (including mineralization) with 90% of the area masked by 0.5 to 5 metre thick soil and till
3 cover. The ridge is surrounded by thicker till and soil and at times mineralization appears to continue below this thicker cover.
Other work during the 2011 field season has included:
? Mapping at 1:5000 over the prospect area and 1:1000 scale mapping over mineralized zones.
? Follow up till and organic surface soil sampling has continued to follow up anomalies from 2010. The known mineralized zones are defined in these geochemical data, and many additional anomalies have been discovered that require follow up.
? 5 line km of dipole-dipole IP and 22 line km of gradient array IP have been collected over the prospect area and results are currently being processed and assessed.
? Accurate surveying by differential GPS of all trenches, samples points and key outcrops.
Additionally a surveyed baseline and staked grid has been established over the entire project area.
Being a new discovery the Rompas project is secured by claim applications. Deep drilling and mechanical trenching will be permitted on the granting of exploration claims. The granting of claims in Finland is currently slow and Mawson is working with the Finnish authorities to facilitate this process in the shortest possible time. Further information regarding the permitting for this program will be announced as further news comes available.
Shares Outstanding: 51,670,753; Cash: approximately C$11 million. On behalf of the Board,
gsfl..thx!! I've been watching this stock for some time now.
MAWSON REGISTERS AGREEMENTS FOR THE ALTO QUEMADO GOLD-COPPER PROJECT IN PERU AND COMMENCES DRILL PERMITTING
11 minutes ago by CNW Group
Mawson Resources Limited ("Mawson") (TSX:MAW) (Frankfurt:MRY) (OTCPINK:MWSNF). Mr Michael Hudson, President & CEO, announces the Company has renegotiated terms of the underlying agreement with Alto Quemado Mining Company SAC ("AQMC"), the vendor of the Alto Quemado gold-copper project in the mineral-rich Southern Peru Mineral Belt. The new agreements have been registered against the exploration claims by the Peruvian authorities.
As previously announced by Mawson on 9 September 2010, the Company secured the right to acquire 100% of the stock of the optionor, Altynor Peru SAC ("Altynor") from arm's length third parties. Altynor holds an option to purchase 100% of the Alto Quemado gold-copper project from Alto Quemado Mining Company SAC ("AQMC"). The 100% acquisition terms are based on making staged payments of US$50,000 on signing, US$550,000 on receipt of permits to drill and US$900,000 should the option with AQMC be triggered.
The renegotiated terms state that Altynor must make a payment of €5.12M in 48 months to acquire 100% of the mining rights from AQMC. AQMC retain a net smelter return payable at a rate between 1 to 3%, dependent on the price of gold. Altynor holds the first right of refusal to purchase the NSR from AQMC.
"The new terms of the agreement provide 4 years before significant option payment fall due, and are better aligned with the timeframe required to make a significant discovery. Now we have finalized our agreements with AQMC, we look forward to advancing permitting to enable the project to be drill tested late in 2011. We have completed extensive field work at Alto Quemado which has significantly increased our understanding of the property. Results from this work program will be released shortly." said Mr Hudson.
About Mawson Resources Ltd (TSX:MAW, FRANKFURT:MRY, PINKSHEETS:MWSNF)
Mawson Resources Ltd is a 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.
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: 50,845,753. Cash: approximately C$13 million.
On behalf of the Board,
"Michael Hudson" Michael Hudson, President & CEO
MAWSON RECEIVES PERMIT FOR SHALLOW DRILLING AT THE ROMPAS GOLD PROJECT IN FINLAND
Mar. 16, 2011 (Canada NewsWire Group) --
VANCOUVER, March 16 /CNW/ - Mawson Resources Limited ("Mawson" and/or the "Company") (TSX: MAW) (Frankfurt: MRY) (OTCPINK: MWSNF). Mr. Michael Hudson, President & CEO, announces the Company has received permission from the relevant Finnish authorities to allow shallow ("deep till") drilling at the Rompas gold project in Northern Finland.
The aim of the program is to grid drill through the glacial soil or till (which covers 90-95% of the property) into the bedrock and along strike from high-grade gold surface showings that were identified during the 2010 summer field program. The first full exploration season at Rompas identified 171 grab samples which averaged 1,127.9 g/t gold and 3.6 % uranium and ranged from 0.1 g/t to 22,723 g/t gold and 0 to 47.9% uranium and 80 channel samples which averaged 0.59 metres @ 203.66 g/t gold and 0.73 % uranium within a sampling footprint of 6.0 kilometres strike and 200-250 metres width. Channel samples are considered representative of the in-situ mineralization sampled and channel widths quoted approximate the true width of mineralization, while grab samples are selective by nature and are unlikely to represent average grades on the property. A detailed map showing the location and distribution of channel and grab samples can be downloaded from the Company's website at http://www.mawsonresources.com/i/maps/Rompas_PLANFEB22.pdf.
Approximately 100-150 diamond drill holes are anticipated to be drilled with a snowmobile-transportable, low environmental footprint drill rig. Each hole will be 50 millimetres in diameter and will average between 4 to 6 metres in depth. The drill rig is expected to be onsite at Rompas next week and drilling is permitted until winter conditions cease at the end of April.
"At this very early stage of exploration, we believe that Rompas has to be considered as one of the most exciting gold discoveries (with a uranium credit) to emerge into the market place. The project reinforces Northern Finland's reputation as one of the world's exploration hot spots and we are pleased to be able to advance our understanding of the mineralized trend as it continues undercover with the execution of this, the first ever drill program to be undertaken at Rompas," said Mr Hudson.
About Mawson Resources Ltd (TSX: MAW) (FRANKFURT: MRY) (OTCPINK: MWSNF)
Mawson Resources Ltd is a resource acquisition and development company with METAL and ENERGY interests.
Mawson has distinguished itself as a leading Scandinavian uranium and gold 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. In addition, the Company is exploring for gold and copper in the highly prospective Cordillera of Peru, with a focus on a new gold-copper 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: 50,725,753. Cash: approximately C$13 million.
On behalf of the Board,
"Michael Hudson"
Michael Hudson, President & CEO
MAWSON CHANNELS 0.35 METRES @ 1,460 g/t GOLD AND 1.4 % URANIUM AND GRAB SAMPLES ASSAY UP TO 12,410 g/t GOLD and 47.9% URANIUM AT ROMPAS IN FINLAND
http://ca.finance.yahoo.com/news/MAWSON-CHANNELS-0-35-METRES-1-cnw-1940415683.html?x=0&.v=1
Followers
|
7
|
Posters
|
|
Posts (Today)
|
0
|
Posts (Total)
|
127
|
Created
|
11/26/10
|
Type
|
Free
|
Moderators |
Volume | |
Day Range: | |
Bid Price | |
Ask Price | |
Last Trade Time: |