Vancouver, Canada -- Mawson Resources Limited ("Mawson") TSXv -- MAW. Michael Hudson, President & CEO announces that the Company has lodged an application with the Swedish Mining Inspectorate for the Flistjärn uranium project where historical sampling encountered high uranium oxide grades. Ten samples assayed from a fracture network by the Swedish Geological Survey in 1977, over an area of 600m by 550m, ranged from 0.07% U3O8 to 21.06% U3O8and averaged 5.5% U3O8.
Uranium mineralization at Flistjärn lies on the south-western extension of a 14 kilometre long lineament which hosts a number of uranium prospects. The vein style mineralization at Flistjärn is hosted by a structurally-bound block of Paleozoic sediments within Precambrian volcanics, in the County of Jämtland close to the Norwegian border. Vein deposits constitute approximately 9% of world uranium resources.
Mineralization is characterized by vein fill of colloform pitchblende with lesser pyrite, chalcopyrite and silver-rich galena. The two principal mineralized structures dip sub-vertically and trend in a north-easterly direction for over 600 metres and 250 metres respectively. Each structure is comprised of a composite set of veins and fractures across a total width of up to 2 metres. Other uranium occurrences exist in structures perpendicular to the main fracture network, parallel to the thrust which divides the Paleozoic and Precambrian age sequences.
Flistjärn was discovered by the Swedish Geological Survey during a five year program initiated in 1977 to evaluate Sweden's self-sufficiency with respect to uranium, financed by the Svensk Kärnbränsleförsorjning AB or Swedish Nuclear Fuel Supply Company ("SKBF"). Flistjärn has been mapped and sampled in detail where outcrop is available. Eighty-nine samples across the project area were measured with a gamma radiation detector and, as was the protocol at the time, only a small number were subsequently assayed by XRF methods to calibrate the field measurements. The project was due to be drilled tested when the Swedish Government stopped its uranium exploration program in 1981. A map of the area can be found at http://www.mawsonresources.com/index.php?page=ProjectsfFlist.
Mr Michael Hudson, President & CEO states, "The high-grade Flistjärn project, in conjunction with the recently announced Duobblon historic uranium resource of 11.56 million pounds U3O8, form part of the Company's expansion into energy related commodities. The Company is extremely pleased to have identified a drill-ready project that shows high uranium grades sampled from surface outcrops. We will maintain the momentum of our gold exploration programs, whilst adding value to this new uranium project."
Ten nuclear power reactors provide approximately 50% of Sweden's electricity. Swedish mining legislation allows exploration for uranium and places no special restriction on mining where the uranium grade is less than 200 ppm or the production is less than 5 kg. When higher uranium grades are present, permitting will follow a process concerning "nuclear technical activity". Such permitting must pass before the Swedish government for decision making.
The 200 Ha Flistjärn application has been confirmed by the Swedish Mining Inspectorate and is expected to be soon granted for an initial period of three years. Mark Saxon, Vice-President of Exploration for Mawson and Member of the AusIMM, is the qualified person as defined by National Instrument 43-101 and has verified the information contained in this release.
On behalf of the Board,
Michael Hudson, President & CEO
1305 -- 1090 West Georgia St., Vancouver, BC, V6E 3V7
Company Contact: Mariana Bermudez (604) 685 9316
Investor Relation Consultants - Mining Interactive
Nick Nicolaas (604) 657 4058, Wayne Melvin (604) 619 6327
Forward Looking Statement.
This news release contains certain "forward-looking" statements and information relating to the Company that are based on the beliefs of the Company's management as well as assumptions made by and information currently available to the Company's management. Such statements reflect the current risks, uncertainties and assumptions related to certain factors including, without limitations, competitive factors, general economic conditions, customer relations, relationships with vendors and strategic partners, the interest rate environment, governmental regulation and supervision, seasonality, technological change, changes in industry practices, and one-time events. Should any one or more of these risks or uncertainties materialize, or should any underlying assumptions prove incorrect, actual results may vary materially from those described herein. Neither the TSX Venture Exchange nor the Frankfurt Deutsche Börse have reviewed the information contained herein and, therefore, do not accept responsibility for the adequacy or accuracy of this news release.