VANCOUVER, March 19, 2018 /PRNewswire/ - Mawson
Resources Limited ("Mawson") or (the "Company")
(TSX:MAW) (Frankfurt:MXR) (PINKSHEETS: MWSNF) announces
mobilization of an additional diamond drill rig to the Company's
100% owned Rajapalot gold project in Northern Finland. Five
rigs are now on site that continue to drill 24/7.
Key Points:
- A fifth diamond drill rig has been mobilized to site with all
rigs operating 24/7;
- Thirty-nine holes (PAL0083 – PAL0121) have been completed or
are in progress for a total of 8,900 metres of diamond drill
core.
- Results from the first five drill holes as reported
March 01, 2018 were highly
encouraging with PAL0093 intersecting 31.7 metres @ 8.4
g/t gold from 244.1 metres, including 10.9 metres at 21.0
g/t gold from 252.2 metres. Results are pending for thirty-two
holes;
- Drilling at Rajapalot has focussed on expanding the size
of the known gold prospects; Raja, Palokas, South Palokas
and Terry's Hammer and testing twelve semi-regional
targets;
- 592 base-of-till ("BOT") holes for 2780 metres have been
completed at the Rompas project which lies 8 kilometres west of
Rajapalot. These shallow BOT holes targeted Rajapalot-style gold
mineralization in the rocks surrounding Rompas. BOT holes were
drilled at between 25-50 metres spacing on 19 lines for a total
drill-traverse length of 22.9 kilometres. These holes will be used
to define diamond drill targets for the summer season;
- In the annual Fraser Institute survey as announced February 2018, Finland was recognised as the top jurisdiction
in the world for exploration/mining Investment Attractiveness.
Mr. Hudson, Chairman and CEO, states, "With the excellent
results achieved in our first five holes, and many high priority
targets to test, we have elected to further increase our rig
capacity at Rajapalot. With up to six weeks of the Finnish
winter drill season remaining, and many holes already awaiting
assays, we anticipate many months of discovery and news flow from
this exciting program."
Technical and Environmental Background
Three diamond drill rigs (K1 & K2) from the Arctic Drilling
Company OY ("ADC") and MK Core Drilling OY ("MK"), all with water
recirculation and drill cuttings collection systems were used for
the drill program. Core diameter is NQ2 (50.7 mm) diameter core.
Core recoveries were excellent and average close to 100% in fresh
rock. After photographing and logging in Mawson's Rovaniemi
facilities, core intervals averaging 1 metre for mineralized
samples and 2 metres for barren samples were cut in half at the
Geological Survey of Finland (GTK)
core facilities in Rovaniemi, Finland. The remaining half core is retained
for verification and reference purposes. Analytical samples were
transported by Mawson personnel or commercial transport from site
to the CRS Minlab Oy facility in Raahe, Finland. Samples were prepared at Kempele and
analyzed for gold at Raahe using the PAL1000 technique which
involves grinding the sample in steel pots with abrasive media in
the presence of cyanide, followed by measuring the gold in solution
with flame AAS equipment. The QA/QC program of Mawson consists of
the systematic insertion of certified standards of known gold
content, duplicate samples by quartering the core, and blanks the
within interpreted mineralized rock. In addition, CRS inserts
blanks and standards into the analytical process.
The qualified person for Mawson's Finnish projects, Dr.
Nick Cook, President for Mawson and
a 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.