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Mawson drills 13.7 metres at 2.0 g/t gold at Rajapalot, Finland

VANCOUVER, April 6, 2017 /CNW/ - Mawson Resources Limited ("Mawson") or (the "Company") (TSX:MAW) (Frankfurt:MXR) (PINKSHEETS: MWSNF) announces drill results from thirteen diamond drill holes from the 2017 winter program at the Company's 100% owned Rajapalot Project in Northern Finland. With these results, the mineralized zone has been significantly extended, with gold mineralization discovered on the western, southern and eastern margins of the previous mineralization footprint. Four drill rigs continue to drill 24/7.

Key Points:

  • PAL0048, drilled 1.75 km southeast of Palokas intersected:
    • 6.0 metres @ 2.0 g/t gold from 53 metres and 13.7 metres @ 2.0 g/t gold from 82 metres;
    • Mineralized zone without a lower cut off comprises 42.7 metres @ 1.0 g/t gold from 53.0 metres in magnetite, pyrrhotite, biotite and chlorite altered rocks;
    • PAL0048 is the most easterly hole drilled at Rajapalot to date and mineralization remains open;
  • PAL0043, drilled 1.5 km southwest of Palokas and 1.1 km west of PAL0048 intersected:
    • 12.0 metres @ 1.2 g/t gold from 10.6 metres;
    • This hole targeted a VTEM anomaly and is the westernmost hole reported from Rajapalot to date, which opens a new area of exploration potential to the west;
  • PAL0040, drilled 450 metres southeast of PAL0043 and 75 metres south west of PAL0037 (56 metres @ 0.53 g/t gold from 33 metres Mawson Press Release March 06, 2017) intersected:
    • 5.0 metres @ 1.2 g/t gold from 37.3 metres;
    • This is the southernmost drill hole at Rajapalot, opening a new area of exploration potential to the south;
  • Forty-two holes (PAL0027-PAL0069) have been completed to date, totalling 8,721 metres of diamond drill core. With this release, assay results from a total of 19 holes have been reported, while results are pending for an additional 23 completed holes. A further 10 diamond drill holes are planned to be drilled before the completion of the winter program.

 

Mr. Hudson, Chairman and CEO, states, "The bold exploration approach taken by Mawson during the 2017 winter program is now paying dividends. By stepping out to previously known the limits of the mineralized system at Rajapalot, the gold mineralized footprint has been significantly expanded and demonstrated to be open on the western, southern and eastern margins. In combination with the significant hydrothermal alteration observed in all holes, it is clear a large mineralized system exists at Rajapalot. With less than 50% of assays received from holes drilled to date, and four rigs still drilling 24/7, we look forward to further news flow."

A plan view of the drill results is provided in Figure 1. Tables 1, 2 and 3 include all relevant collar and assay information. The true thickness of the mineralized interval is interpreted to be approximately 90% of the sampled thickness.

These drill results support the discovery of a new style of gold-bearing system at South Rajapalot, as described in Mawson Press Release March 06, 2017. Mineralization is characterized by an extensive area of potassic-iron-sulphide alteration located up to 1,800m south of the Palokas prospect. Drilling has defined a zone that now extends for 1,200m along strike and 400m in width that remains open.

Gold-anomalous alteration has been drilled to date over a 1,200 m x 400 m area in South Rajapalot. It consists of sulphide, magnetite, biotite and chlorite hydrothermal mineral assemblages hosted in predominately grey albitites. Textures range from veined albitic granofels through fractured and brecciated to locally schistose. Veining and fracture fill minerals include magnetite, pyrrhotite and magnetite-pyrrhotite (+/- quartz). Local retrograde chlorite after biotite and vein-controlled chlorite+/- tourmaline and magnetite are also present. Preliminary hand-held XRF analysis confirms the presence of associated scheelite and molybdenite, the former visible under UV light as tiny veinlets and disseminations. The iron-rich nature of the mineralized rocks is a common theme in either the oxide or sulphide form, with a variably sulphidic and chloritic overprint. The alteration is clearly post-metamorphic, reduced, and most likely driven by granitoid intrusions. Chlorite is regarded as the lowest temperature silicate mineral with gold, structurally controlled in apparent association with quartz veins. Altered rocks enclosing the mineralized package contain locally abundant talc and tourmaline.

Technical and Environmental Background
Two diamond drill rigs (K1 & K2) from the Arctic Drilling Company OY (ADC) with water recirculation and drill cuttings collection systems were used for the drill program. Core diameter is NQ2 (50.6 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 m 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 Kempele, 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 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.

Table 1: Collar Information from 2017 Winter drilling at the Palokas Prospect

HoleID

East

North

Azimuth

Dip

RL

Depth

Comment

(m)

PAL0027

3408668

7373860

116

60

175

301.6

Feb 21, 2017

PAL0028

3408723

7373889

116

60

175

92.3

Feb 21, 2017

PAL0029

3408629

7373987

116

60

175

209.3

Feb 21, 2017

PAL0030

3408608

7373943

116

60

174

194.8

Feb 21, 2017

PAL0031

3408701

7373954

116

60

174

131

Mar 06, 2017

PAL0032

3408800

7374095

116

60

175

174.2

Mar 06, 2017

PAL0033

3408125

7373140

150

60

173

215.8

Mar 06, 2017

PAL0034

3408167

7373072

150

60

176

143.55

Reported here

PAL0035

3408095

7372898

135

60

176

191.8

Reported here

PAL0036

3408122

7372856

135

60

175

115.05

Reported here

PAL0037

3408008

7372395

116

60

177

244.3

Mar 06, 2017

PAL0038

3407903

7372442

116

60

177

300.5

Reported here

PAL0039

3408010

7372472

116

50

177

248.8

Reported here

PAL0040

3407938

7372359

116

50

177

200.1

Reported here

PAL0041

3407936

7372539

116

50

174

341.35

Reported here

PAL0042

3407841

7372408

116

50

173

257.15

Results Awaited

PAL0043

3407843

7372798

116

60

176

339

Reported here

PAL0044

3407645

7372424

90

50

173

250.6

Results Awaited

PAL0045

3407533

7372698

116

50

173

352.1

Reported here

PAL0046

3408153

7372322

135

60

179

108.05

Reported here

PAL0047

3410582

7373349

150

50

161

100.3

Results Awaited

PAL0048

3408815

7372268

90

50

173

188.2

Reported here

PAL0049

3408269

7372635

180

60

177

254.9

Results Awaited

PAL0050

3410618

7373308

150

50

161

103.5

Results Awaited

PAL0051

3408810

7372200

90

50

173

153.85

Results Awaited

PAL0052

3410568

7373393

150

50

161

100.2

Results Awaited

PAL0053

3408283

7372532

180

60

177

260.8

Results Awaited

PAL0054

3410651

7373254

150

50

163

154.5

Results Awaited

PAL0055

3408380

7372320

150

50

176

190.7

Results Awaited

PAL0056

3408708

7372201

90

50

174

268.15

Results Awaited

PAL0057

3410688

7373202

150

50

166

147

Results Awaited

PAL0058

3408712

7372254

90

50

174

258.25

Results Awaited

PAL0059

3408092

7372458

150

60

178

157

Results Awaited

PAL0060

3410986

7371862

70

50

138

153

Results Awaited

PAL0061

3409765

7372753

150

60

161

259.7

Results Awaited

PAL0062

3408753

7372465

155

60

177

237

Results Awaited

PAL0063

3407948

7372718

116

60

174

173.9

Results Awaited

PAL0064

3411066

7371882

70

50

139

120

Results Awaited

PAL0065

3410951

7371899

70

50

138

97.5

Results Awaited

PAL0066

3408970

7372540

160

60

174

252.2

Results Awaited

PAL0067

3410020

7373122

135

60

162

203

Results Awaited

PAL0068

3409009

7372420

160

60

172

255.7

Results Awaited

PAL0069

3408447

7373350

116

60

172

220

Results Awaited

 

Table 2: Better intersections from the 2017 Winter Drill Program reported. 0.5g/t Au over 1m lower cut (unless stated), no upper cut-off

*0.5g/t Au over 2m lower cut

Hole ID

Depth
From (m)

Depth To
(m)

Width (m)

Au g/t

Date Reported

PAL0027

27.46

31.01

3.6

2.5

Feb 21, 2017

PAL0027

34.41

41.21

6.8

14.7

Feb 21, 2017

PAL0027

44.20

47.20

3.0

3.2

Feb 21, 2017

PAL0028

21.70

22.70

1.0

0.8

Feb 21, 2017

PAL0028

37.60

39.25

1.7

3.9

Feb 21, 2017

PAL0029

95.65

96.65

1.0

0.7

Feb 21, 2017

PAL0030

110.20

120.20

10.0

11.6

Feb 21, 2017

PAL0030

135.70

138.60

2.9

1.0

Feb 21, 2017

PAL0030

143.85

146.85

3.0

5.3

Feb 21, 2017

PAL0031

85.4

86.4

1.0

1.5

Mar 06, 2017

PAL0032

     

No significant results

Mar 06, 2017

PAL0033

152.5

154.7

2.2

7.7

Mar 06, 2017

PAL0034

     

No significant results

Reported here

PAL0035

     

No significant results

Reported here

PAL0036

     

No significant results

Reported here

PAL0037

33

35

2.0

3.6

Mar 06, 2017

PAL0038

     

No significant results

Reported here

PAL0039

112.8

113.1

0.4

2.9

Reported here

PAL0040

37.3

42.3

5.0

1.2

Reported here

PAL0041

179

180

1.0

1.3

Reported here

PAL0041

242.6

243.6

1.0

1.2

Reported here

PAL0043*

10.6

22.6

12.0

1.2

Reported here

PAL0045

     

No significant results

Reported here

PAL0046

     

No significant results

Reported here

PAL0048

53

59

6.0

2.0

Reported here

PAL0048

82

95.7

13.7

2.0

Reported here

No lower cut: 42.7m @ 1.0g/t from 53.0m

 

Table 3: Individual assay data from drill holes PAL0040, PAL0043 and PAL0048

Hole ID

Depth
From (m)

Depth
To (m)

Width
(m)

Au g/t

PAL0040

37.3

38.3

1.0

1.7

PAL0040

38.3

39.3

1.0

1.6

PAL0040

39.3

40.3

1.0

1.8

PAL0040

40.3

41.3

1.0

<0.05

PAL0040

41.31

42.3

1.0

1.1

PAL0043

10.6

11.6

1.0

2.59

PAL0043

11.6

12.6

1.0

3.79

PAL0043

12.6

13.6

1.0

1.31

PAL0043

13.6

14.6

1.0

0.5

PAL0043

14.6

15.6

1.0

0.06

PAL0043

15.6

16.6

1.0

0.06

PAL0043

16.6

17.6

1.0

1.19

PAL0043

17.6

18.6

1.0

0.38

PAL0043

18.6

19.6

1.0

0.08

PAL0043

19.6

20.6

1.0

0.21

PAL0043

20.6

21.6

1.0

3.11

PAL0043

21.6

22.6

1.0

0.81

PAL0048

53

54

1.0

0.50

PAL0048

54

55.1

1.1

3.93

PAL0048

55.1

56

0.9

1.76

PAL0048

56

57

1.0

2.69

PAL0048

57

58

1.0

1.09

PAL0048

58

59

1.0

1.51

PAL0048

59

60

1.0

0.09

PAL0048

60

61

1.0

0.09

PAL0048

61

62

1.0

0.21

PAL0048

62

63

1.0

<0.05

PAL0048

63

64

1.0

<0.05

PAL0048

64

65

1.0

0.17

PAL0048

65

66

1.0

0.12

PAL0048

66

68

2.0

0.35

PAL0048

68

70

2.0

0.06

PAL0048

70

71

1.0

<0.05

PAL0048

71

72

1.0

<0.05

PAL0048

72

73

1.0

<0.05

PAL0048

73

74

1.0

<0.05

PAL0048

74

75

1.0

<0.05

PAL0048

75

76

1.0

<0.05

PAL0048

76

77

1.0

<0.05

PAL0048

77

78

1.0

<0.05

PAL0048

78

79

1.0

<0.05

PAL0048

79

80

1.0

<0.05

PAL0048

80

81

1.0

0.05

PAL0048

81

82

1.0

<0.05

PAL0048

82

84

2.0

0.49

PAL0048

84

86

2.0

0.61

PAL0048

86

86.8

0.8

1.59

PAL0048

86.8

87.82

1.0

1.66

PAL0048

87.8

88.5

0.7

3.74

PAL0048

88.5

89.2

0.7

0.61

PAL0048

89.2

90.2

1.0

6.34

PAL0048

90.2

91.2

1.0

3.88

PAL0048

91.2

92.3

1.1

0.05

PAL0048

92.3

93.3

1.0

5.59

PAL0048

93.3

94.3

1.0

0.84

PAL0048

94.3

95

0.7

1.72

PAL0048

95

95.7

0.7

2.79

 

 

SOURCE Mawson Resources Ltd.

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