VANCOUVER, Aug. 30, 2017 /PRNewswire/ - Mawson Resources Limited ("Mawson") or (the "Company") (TSX:MAW) (Frankfurt:MXR) (PINKSHEETS: MWSNF) announces the Company has been granted the 2,123 hectare Männistö Exploration Permit at the Rompas-Rajapalot gold project in Finland. The Männistö permit includes both the Rompas high grade nuggety gold mineralization and areas prospective for Rajapalot-style disseminated gold.
The granting is noteworthy, as it allows Mawson to restart exploration at the Rompas prospect after a 4-year hiatus.
- TUKES (the Finnish Safety and Chemical Agency and Mining Authority) recently granted the Männistö Exploration Permit to Mawson that covers 2,123 hectares at the Rompas-Rajapalot gold project in northern Finland within the larger 16,162 hectare project of exploration permits and applications (Figure 1);
- The primary target at Männistö is Rajapalot-style disseminated gold mineralization that lies stratigraphically adjacent to previously discovered high grade gold mineralization at Rompas;
- In 2012, Mawson drilled Finland's richest ever diamond drill hole for gold at Rompas within the Männistö Exploration Permit area. Results included:
- 6 metres at 617 g/t gold from 7 metres in drill hole ROM0011; and
- 1 metre @ 114.5 g/t gold from 44.0 metres from drill hole ROM0014.
- Field mapping, prospecting and 8.1 kilometres of VLFR geophysical survey have been completed, defining a Rajapalot-style gold target horizon that extends for 2.5 kilometres, with outcrop of up to 0.24 g/t gold discovered in poorly outcropping areas adjacent to the conductive target zone (Figure 2);
- A reverse circulation ("RC") drill rig has now been mobilized (Figure 3). Twenty shallow holes (5-10 metre) will be drilled through thin glacial soil to bedrock along 3 lines to test the Rajapalot-style gold target position. Targets identified will immediately be followed up with diamond drilling.
Mr. Hudson, Chairman and CEO, states, "The Rompas prospect is central to Mawson's on-going investment in gold exploration in northern Finland, being the site where our team drilled the country's richest ever gold intersection of 6 metres at 617 g/t gold in 2012. Our recent work at Rajapalot, where an extensive area of gold disseminated mineralization has been discovered, has shown the Rajapalot-style of mineralization lies stratigraphically adjacent to the Rompas host rocks, in an area of very limited outcrop and no prior drilling. Drilling close to high grade gold is always exciting for an exploration team, and we look forward to sharing the results of this highly anticipated RC drill program."
The principal target at Männistö is Rajapalot-style disseminated gold mineralization hosted within metasediments that surround the Rompas vein-hosted gold system. This style includes the numerous significant drill intersections of the Palokas prospect which lies 8 kilometres east of Rompas (ie PAL0030: 10.0 metres @ 11.6 g/t gold from 110.2 metres; PAL0027: 6.8 metres @ 14.7 g/t gold from 34.4 metres and PAL0075: 27.0 metres @ 3.3 g/t gold see Mawson Press Releases July 05, 2017). Nuggety gold mineralization at Rompas occurs in deformed calc-silicate veins hosted within a mafic volcanic, while disseminated gold mineralization of the Rajapalot-style is typically hosted within albitic- or Mg-calcsilicate-rich metasediments.
Field mapping, prospecting and 8.1 kilometres of VLFR geophysical surveys have been completed over the last 2 months, which has defined a Rajapalot-style target horizon extending for 2.5 kilometres along strike. VLFR or Very Low Frequency Resistivity electromagnetics is a ground probing technology that utilizes VLF signals in the 15 to 30 kHz range. The method is an inexpensive means to collect high quality bedrock data, and is having a revival due to both technology improvements and software developments.
Assay results showed one sample in outcrop adjacent to the conductive and interpreted target zone to assay 0.24 g/t gold in an area of predominantly thin glacial soil cover (Figure 1), adding to the prospectivity of this trend.
Based on the proven effectiveness of grid based RC drill sampling through the till and bedrock in other areas, the Company plans to complete systematic RC and base-of-till drilling across the entire Männistö permit area. In addition, a comprehensive structural, lithogeochemical and stratigraphic model from the winter drill program at Rajapalot is under construction with the support of Dr. Laurent Ailleres of PGN Geoscience, an expert in the building of 3D structural-geophysical models, and Dr. Nick Oliver of Holcombe Coughlin Oliver Valenta Global, a renowned Proterozoic structural and hydrothermal specialist.
A significant drilling program will resume at Rajapalot in late 2017/early 2018 when winter conditions allow access.
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.
Analytical samples were transported by commercial transport to ALS Chemex Ltd's laboratories in Sodankylä, Finland. Samples were prepared at Sodankylä and sent to ALS Loughrea located at Dublin Road, Loughrea, Co. Galway, Ireland to be analyzed by Au-ICP21, GRA-21, ME-MS41u and ME-MS61u techniques. The QA/QC program of Mawson consists of the systematic insertion of certified standards of known gold content, with blanks at the beginning of each batch. In addition, ALS Chemex inserts a number of blanks and standards into the analytical process.
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.