VANCOUVER, April 26, 2018 /PRNewswire/ - Mawson Resources Limited ("Mawson") or (the "Company") (TSX:MAW) (Frankfurt:MXR) (PINKSHEETS: MWSNF) announces the commencement of an induced polarization ("IP") geophysical survey within the Kairamaat 2/3 permit area, at the company's 100% owned Rajapalot gold project in northern Finland.
- Given the success of the winter diamond drilling program at Rajapalot, which identified gold mineralization beyond the limits of geophysical data, a geophysical crew has been mobilized to extend IP coverage of the area;
- Due to the association of sulphide minerals with gold mineralization at Rajapalot, IP is a valuable mapping tool especially when used in combination with ground magnetics and airborne electromagnetics. IP provides the potential to directly identify gold-bearing host rocks under the thin glacial soil that covers 99% of the prospect area;
- A total of 29-line kilometres of gradient array IP and resistivity data will be collected along lines spaced at 50 metres in the southern part of the Kairamaat 2/3 permit area;
- The winter diamond drill program has now ended with a total of 16,204 metres completed in 75 drill holes across four exploration permit areas. Diamond drilling is planned to restart during the 2018 summer at Hirvimaa, Männistö and Raja exploration permit areas.
Mr. Hudson, Chairman and CEO, states, "At Rajapalot we have demonstrated that the gold-bearing rocks coincide with predictable electrical and magnetic geophysical responses, allowing direct targeting beneath thin glacial soil that covers 99% of the prospect area. This new ground electrical survey in the Kairamaat 2/3 exploration permit will allow for identification of drill targets beyond the limits of geophysical coverage for testing in upcoming drill programs."
Gradient array IP geophysical surveys can be used to accurately identify both disseminated sulphide minerals (where the surface area of sulphides may produce a chargeable electrical response) and electrically conductive features. Mawson's experience at the Rajapalot project indicates that gold mineralized rocks contain enough sulphide minerals to form both chargeable and conductive responses.
In other news, the winter diamond drill program has now ended with the commencement of the spring melt. A total of 16,204 metres for 75 drill holes was completed across four exploration permit areas (Männistö, Kairamaat 2/3, Hirvimaa and Raja). Reporting of assays from 14 holes have been made and results will continue over the coming months as they become available. Drilling is scheduled to restart during the 2018 summer at Hirvimaa, Männistö and Raja exploration permit areas.
Technical and Environmental Background
The IP-resistivity survey is being conducted by two personnel from GeoVista AB (based in Luleå, Sweden). Line orientations for this program are matched with prior survey parameters. Post-collection processing and inversions of the data will be undertaken by Dr Hans Thunehed of GeoVista AB.
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, Chairman & CEO
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.