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Mawson drills 8.8 metres at 7.5 g/t gold at Rajapalot, Finland

VANCOUVER, May 2, 2017 /CNW/ - Mawson Resources Limited ("Mawson") or (the "Company") (TSX:MAW) (Frankfurt:MXR) (PINKSHEETS: MWSNF) announces drill results from ten additional diamond drill holes from the 2017 winter program at the Company's 100% owned Rajapalot Project in Northern Finland. A new zone of gold mineralization has been discovered at shallow depth at the Raja prospect, with a strike length of at least 200 metres, and remains open. The Raja prospect is located 1.75 kilometres from Palokas, and is the easternmost prospect tested to date in the Rajapalot area.

Key Points:

  • PAL0075 intersected:
    • 27.0 metres @ 3.3 g/t gold (no lower cut) from 64.0 metres, including 3.0 metres @ 2.9 g/t gold from 64 metres, 2.0 metres @ 5.6 g/t gold from 70.0 metres and 8.8 metres @ 7.5 g/t gold from 82.2 metres;
  • PAL0062 drilled 200 metres north of PAL0075 intersected:
    • 13.5 metres @ 4.0 ppm gold from 180 metres;

Mr. Hudson, Chairman and CEO, states, "A blind discovery of this grade and thickness made in multiple drill holes, 1.75 kilometres from Palokas is a significant result for the Rajapalot project. By applying our understanding on the controls on mineralization, we are now successfully intersecting multiple high-grade gold mineralized zones under the thin glacial soil cover. This first systematic season of drill testing has proven the scale of the system, and is defining a wide range of exciting targets. With approximately 50% of assays still to come from the winter program, we look forward to substantial further news flow."

A plan view of the drill results is provided in Figure 1 and Figure 2 while a cross section of the Raja area is provided in Figure 3. Tables 1, 2 and 3 include all relevant collar and assay information. The winter drilling program is now complete, with 55 holes (PAL0027-PAL0082) totaling 11,056 metres of diamond drill core. With this release, assay results from 28 holes have been reported, while results are pending for an additional 26 holes.

PAL0075 (3.9 metres @ 1.3 g/t gold from 30.6 metres, 27.0 metres @ 3.3 g/t gold (no lower cut) from 64.0 metres, including 3.0 metres @ 2.9 g/t gold from 64 metres, 2.0 metres @ 5.6 g/t gold from 70.0 metres and 8.8 metres @ 7.5 g/t gold from 82.2 metres) displayed fine visible gold in schistose muscovite-quartz-pyrrhotite alteration at 83.5 metres and 90.8 metres (Photo 1). The hole was drilled in an opposite direction to PAL0048 (42.7 metres @ 1.0 g/t gold from 53.0 metres (Mawson News Release April 06 2017) to test for continuity and thickness of the gold mineralization. Together with PAL0062 (13.5 m @ 4.0 ppm gold from 180 metres), drilled 200 metres down plunge, a lobate or cigar shaped mineralized body has been broadly defined, that is at least 200 metres long and approximately 50 metres wide.

Mineralization appears to be structurally controlled, and is hosted by a variably silicified and brecciated grey to pink and red albitite to foliated quartz-muscovite-biotite-pyrrhotite schist. Quartz with minor tourmaline, pyrrhotite and chalcopyrite forms veins and the matrix of breccias apparently synchronous with silicification within the mineralized rocks (for example, from 72 to 77 metres in PAL0075). Sulphide, quartz, muscovite and biotite are dominant in the mineralized rocks, with subordinate magnetite, tourmaline, scheelite, chlorite and calcite. Pyrrhotite predominates over pyrite with subordinate chalcopyrite noted where grades exceed 0.5 g/t Au. Pyrite becomes the dominant sulphide in lower grade intersections, and typically forms a halo around the pyrrhotite-bearing rocks. The host albitites, where oxidized (pale pink to red), contain <0.1 g/t Au and appear overprinted by the sulphide-gold event. All textures associated with gold mineralization overprint the metamorphic minerals and rock fabrics and are indicative of widespread hydrothermal fluid movement. Host rock compositional controls appear the key to formation of the best gold intersections in the Rajapalot project.

Assay results from drill holes PAL0042, 47, 51, 52, 53, 58, 63 and 66 were also received. Although most of these holes show consistent hydrothermal alteration, only minor or no significant gold mineralization was returned. Owing to the complex three dimensional structural controls and brecciation, combined with the stratabound nature of the albitic host rock, the true thickness of the mineralized interval is, at this stage, unknown.

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 results reported here. 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. Interlaboratory comparisons are also conducted by Mawson, using fire assay techniques. 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

(m)

Comment

PAL0027

3408668

7373860

116

60

174.6

301.6

Feb 21, 2017

PAL0028

3408724

7373889

116

60

174.9

92.3

Feb 21, 2017

PAL0029

3408630

7373988

116

60

174.9

197.3

Feb 21, 2017

PAL0030

3408608

7373943

116

60

174.1

194.8

Feb 21, 2017

PAL0031

3408702

7373953

116

60

174.3

131.0

Mar 06, 2017

PAL0032

3408795

7374090

135

60

175.7

174.2

Mar 06, 2017

PAL0033

3408135

7373137

150

60

175.1

215.8

Mar 06, 2017

PAL0034

3408157

7373078

150

60

176.5

142.6

April 06, 2017

PAL0035

3408095

7372899

135

60

175.6

191.9

April 06, 2017

PAL0036

3408122

7372856

135

60

175.4

115.1

April 06, 2017

PAL0037

3408008

7372395

116

60

177.4

244.3

Mar 06, 2017

PAL0038

3407903

7372442

116

60

177

300.5

April 06, 2017

PAL0039

3408010

7372472

116

50

176.7

247.8

April 06, 2017

PAL0040

3407938

7372359

116

50

177.1

200.0

April 06, 2017

PAL0041

3407936

7372539

116

50

174.4

341.4

April 06, 2017

PAL0042

3407841

7372408

116

50

172.8

257.0

Reported here

PAL0043

3407843

7372798

116

60

175.7

339.0

April 06, 2017

PAL0044

3407650

7372418

90

50

172.9

250.6

Results Awaited

PAL0045

3407533

7372698

50

116

173.4

351.9

April 06, 2017

PAL0046

3408153

7372322

60

135

179.4

108.0

April 06, 2017

PAL0047

3410582

7373349

50

150

161.4

100.3

Reported here

PAL0048

3408815

7372269

49

90

173.0

188.0

April 06, 2017

PAL0049

3408269

7372635

69

180

176.6

254.9

Results Awaited

PAL0050

3410618

7373308

50

150

161.1

103.5

Results Awaited

PAL0051

3408810

7372200

50

90

173.2

153.8

Reported here

PAL0052

3410568

7373393

48

152

161.1

100.2

Reported here

PAL0053

3408283

7372532

60

180

176.9

257.7

Reported here

PAL0054

3410651

7373254

51

150

163.3

154.5

Results Awaited

PAL0055

3408380

7372320

51

150

176.4

190.7

Results Awaited

PAL0056

3408708

7372201

50

90

174.2

268.1

Results Awaited

PAL0057

3410688

7373202

50

150

165.6

147.0

Results Awaited

PAL0058

3408712

7372254

50

90

174.1

258.2

Reported here

PAL0059

3408092

7372458

60

150

178.0

157.0

Results Awaited

PAL0060

3410986

7371862

50

70

138.0

153.0

Results Awaited

PAL0061

3409769

7372753

60

150

161.1

259.7

Results Awaited

PAL0062

3408753

7372465

60

155

176.5

237.0

Reported here

PAL0063

3407948

7372718

60

116

174.0

173.9

Reported here

PAL0064

3411066

7371882

50

70

138.8

120

Results Awaited

PAL0065

3410952

7371899

50

70

138.0

97.5

Results Awaited

PAL0066

3408970

7372540

60

160

174.3

252.2

Reported here

PAL0067

3410020

7373122

60

135

162.3

203.0

Results Awaited

PAL0068

3409009

7372420

60

160

172.5

255.7

Results Awaited

PAL0069

3408447

7373350

60

116

172.0

85.7

Results Awaited

PAL0070

3410239

7372124

50

145

139.0

103.5

Results Awaited

PAL0071

3408573

7372279

50

150

175.8

152.6

Results Awaited

PAL0072

3410286

7372059

50

145

139.3

121.5

Results Awaited

PAL0073

3408965

7374398

50

170

176.2

445.8

Results Awaited

PAL0074

3408408

7373282

60

116

171.9

142.1

Results Awaited

PAL0075

3408931

7372244

50

290

172.7

178.1

Reported here

PAL0076

3409032

7372291

50

175

170.1

254.4

Results Awaited

PAL0077

3408308

7373331

60

116

172.0

25.3

Hole abandoned

PAL0078

3408307

7373332

60

116

172.0

236.8

Results Awaited

PAL0079

3409672

7373284

50

300

172.9

206.0

Results Awaited

PAL0080

3409416

7374396

50

160

178.7

161.5

Results Awaited

PAL0081

3409463

7374241

60

160

176.8

167.1

Results Awaited

PAL0082

3408302

7373424

60

116

173.9

292.4

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 in PAL0043. True thickness

+Owing to the complex three dimensional structural controls and brecciation, combined with the stratabound nature of the albitic host rock, the true thickness of the mineralized interval is, at this stage, unknown for PAL0048, PAL0062 and PLA0075.

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

April 06, 2017

PAL0035




No significant results

April 06, 2017

PAL0036




No significant results

April 06, 2017

PAL0037

33.0

35.0

2.0

3.6

Mar 06, 2017

PAL0038




No significant results

April 06, 2017

PAL0039

112.8

113.1

0.4

2.9

April 06, 2017

PAL0040

37.3

42.3

5.0

1.2

April 06, 2017

PAL0041

179.0

180.0

1.0

1.3

April 06, 2017

PAL0041

242.6

243.6

1.0

1.2

April 06, 2017

PAL0042




No significant results

Reported here

PAL0043*

10.6

22.6

12.0

1.2

April 06, 2017

PAL0045




No significant results

April 06, 2017

PAL0046




No significant results

April 06, 2017

PAL0047




No significant results

Reported here

PAL0048+

53.0

59.0

6.0

2.0

April 06, 2017

PAL0048+

82.0

95.7

13.7

2.0

April 06, 2017

PAL0048

53.0

95.7

42.7

1.0

April 06, 2017 (No lower cut)

PAL0051

99.0

100.0

1.0

1.4

Reported here

PAL0052




No significant results

Reported here

PAL0053

65.7

66.7

1.0

0.5

Reported here

PAL0053

68.7

69.7

1.0

1.1

Reported here

PAL0062+

180.0

193.5

13.5

4.0

Reported here

PAL0075+

30.6

34.5

3.9

1.3

Reported here

PAL0075+

64.0

67.0

3.0

2.9

Reported here

PAL0075+

70.0

72.0

2.0

5.6

Reported here

PAL0075+

82.2

91.0

8.8

7.5

Reported here

PAL0075+

64.0

91.0

27.0

3.3

Reported here (No lower cut)

Table 3: Individual assay data from drill holes PAL0062, PAL0075

Hole ID

Depth
From (m)

Depth To
(m)

Width
(m)

Au g/t

PAL0062

175.0

176.1

1.1

0.4

PAL0062

176.1

178.0

1.9

0.3

PAL0062

178.0

180.0

2.0

0.1

PAL0062

180.0

181.0

1.0

1.2

PAL0062

181.0

181.9

0.9

0.1

PAL0062

181.9

182.9

1.0

10.5

PAL0062

182.9

183.9

1.0

3.0

PAL0062

183.9

184.9

1.0

4.5

PAL0062

184.9

186.5

1.6

1.1

PAL0062

186.5

187.5

1.0

2.1

PAL0062

187.5

188.5

1.0

0.4

PAL0062

188.5

189.5

1.0

4.7

PAL0062

189.5

190.5

1.0

16.7

PAL0062

190.5

191.5

1.0

3.2

PAL0062

191.5

192.5

1.0

4.7

PAL0062

192.5

193.5

1.0

0.7

PAL0062

193.5

194.5

1.0

0.2

PAL0062

194.5

196.0

1.5

0.1

PAL0075

30.6

31.6

1.0

2.3

PAL0075

31.6

32.6

1.0

1.3

PAL0075

32.6

33.6

1.0

0.3

PAL0075

33.6

34.5

0.9

1.4

PAL0075

34.5

35.5

1.0

0.0

PAL0075

35.5

37.5

2.0

0.0

PAL0075

37.5

38.5

1.0

0.0

PAL0075

38.5

39.5

1.0

0.0

PAL0075

39.5

40.5

1.0

0.0

PAL0075

40.5

41.5

1.0

0.0

PAL0075

41.5

42.5

1.0

0.0

PAL0075

42.5

43.5

1.0

0.1

PAL0075

43.5

45.0

1.6

0.0

PAL0075

45.0

46.0

1.0

0.0

PAL0075

46.0

47.0

1.0

0.0

PAL0075

47.0

48.4

1.4

0.0

PAL0075

48.4

49.3

0.9

0.0

PAL0075

49.3

50.3

1.0

0.0

PAL0075

50.3

51.3

1.0

0.0

PAL0075

51.3

52.0

0.7

0.0

PAL0075

52.0

53.0

1.0

0.0

PAL0075

53.0

54.0

1.0

0.0

PAL0075

54.0

55.0

1.0

0.0

PAL0075

55.0

56.0

1.0

0.0

PAL0075

56.0

57.0

1.0

0.0

PAL0075

57.0

58.0

1.0

0.1

PAL0075

58.0

59.0

1.0

0.1

PAL0075

59.0

60.0

1.0

0.0

PAL0075

60.0

61.0

1.0

0.2

PAL0075

61.0

62.0

1.0

0.1

PAL0075

62.0

63.0

1.0

0.1

PAL0075

63.0

64.0

1.0

0.4

PAL0075

64.0

65.0

1.0

0.8

PAL0075

65.0

66.0

1.0

4.1

PAL0075

66.0

67.0

1.0

3.8

PAL0075

67.0

68.0

1.0

0.5

PAL0075

68.0

69.0

1.0

0.2

PAL0075

69.0

70.0

1.0

0.1

PAL0075

70.0

71.0

1.0

3.4

PAL0075

71.0

72.0

1.0

7.8

PAL0075

72.0

73.4

1.3

0.4

PAL0075

73.4

75.0

1.7

0.1

PAL0075

75.0

77.0

2.0

0.2

PAL0075

77.0

79.0

2.0

0.0

PAL0075

79.0

80.0

1.0

0.0

PAL0075

80.0

81.0

1.0

0.0

PAL0075

81.0

82.2

1.2

0.2

PAL0075

82.2

83.4

1.2

6.7

PAL0075

83.4

84.4

1.0

11.9

PAL0075

84.4

85.4

1.0

14.7

PAL0075

85.4

86.4

1.0

8.1

PAL0075

86.4

87.0

0.6

4.7

PAL0075

87.0

88.0

1.0

3.6

PAL0075

88.0

89.0

1.0

7.2

PAL0075

89.0

90.0

1.0

4.0

PAL0075

90.0

91.0

1.0

6.0

PAL0075

91.0

92.0

1.0

0.3

PAL0075

92.0

93.0

1.0

0.1

SOURCE Mawson Resources Ltd.

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