Mawson announces start of 2017/18 winter diamond drilling program in Finland
VANCOUVER, Dec. 13, 2017 /CNW/ - 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.
- 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.
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.
Subscribe to the RSD email list and get the latest resource stock activity directly to your inbox, for free.
Part of the Stock Digest family of websites