Vancouver, Canada - Mawson Resources Limited ("Mawson") TSX - MAW; Frankfurt - MRY. Mr Michael Hudson, President & CEO, announces results from the third and final batch of channel samples received from 2010 exploration program at the Company's 100% owned Rompas gold-uranium project in northern Finland. A detailed map showing the location and distribution of these and earlier channel and grab samples can be downloaded from the Company's website at http://www.mawsonresources.com/assets/docs/news/Rompas_PLANFEB22.pdf.
This third batch of results includes 31 diamond saw cut channel samples that are comprised of 268 individual samples. Highlights include 0.35 m @ 1,460 g/t Au and 1.4 % U, and 2.6 m @ 190.5 g/t Au and 0.25 % U (Table 1). The weighted average of all 80 channel samples from the 2010 program is 0.59 m @ 203.66 g/t Au and 0.73 % U within a sampling footprint of 6.0 km strike and 200-250 m width. More than 300 discovery sites have now been identified within the mineralized footprint. Channel samples are considered representative of the in-situ mineralization sampled and channel widths quoted approximate the true width of mineralization.
Also included in this third batch of results were 64 mineralized grab samples that averaged 1,691.4 g/t Au and 6.5 % U and ranged from <0.03 g/t to 12,410 g/t Au and 1.6 ppm to 47.9% U. Grab samples are selective by nature and are unlikely to represent average grades on the property.
Samples were taken from mineralized structures, including shears, jogs, boudins, veins and vein intersections. In places a number of structures appear to be en echelon within the overall mineralized envelope. Importantly, a significant majority of the area is below soil cover which is too thick for the discovery of near-surface radiometric occurrences. The new channel samples were taken at Rompas North over 370 m strike by 270 m width and grab samples over 975 m by 250 m. At Rompas South grab and channel samples were taken over a strike of 1.8 km. Soil and till sampling remain the only outstanding information yet to be published from the 2010 program.
"These results continue to demonstrate the outstanding grades, high frequency and broad geographical extent of gold and uranium showings at Rompas within multiple structures in an area with only 5-10% outcrop. At this very early stage of exploration we believe that Rompas has to be considered as one of the most exciting global gold discoveries (with a uranium credit) to emerge into the market place." said Mr Hudson.
Being a new discovery the Rompas project is secured by claim applications. Deep drilling and trenching will be permitted on the granting of exploration claims. The granting of claims in Finland is currently slow and Mawson is working with the Finnish authorities to facilitate this process in the shortest possible time. Although the winter field season is passing rapidly, Mawson remains in ongoing discussion with Finnish government authorities and landholders at Rompas to allow shallow drilling this winter beneath the glacial soil that covers 90-95% of the Rompas area. Further information regarding the permitting for this program will be announced as further news comes available.
About Mawson Resources Ltd (TSX:MAW, FRANKFURT:MRY, PINKSHEETS:MWSNF)
Mawson Resources Ltd is a resource acquisition and development company with METAL and ENERGY interests.
Mawson has distinguished itself as the leading Scandinavian uranium exploration company, with advanced projects in Sweden and Finland. As the European Union moves to reduce its reliance on carbon-based energy sources and continues to debate energy security, Mawson is well positioned to provide Europe with the option to fuel its future. Areva NC holds 9.5% of the Company and provides Mawson with a solid technical shareholder.
In addition, the Company is exploring for gold and copper in the highly prospective Cordillera of Peru, with a focus on a new gold-copper discovery at Alto Quemado.
With a strong cash position and a multi-jurisdiction European and South American portfolio, Mawson is ideally positioned to enhance its status as a leader in the uranium and gold industries.
Shares Outstanding: 50,705,753. Cash: approximately C$13 million.
On behalf of the Board,
Michael Hudson, President & CEO
1305 - 1090 West Georgia St., Vancouver, BC, V6E 3V7
Company Contact: Mariana Bermudez +1 (604) 685 9316
Investor Relation Consultants - Mining Interactive
Nick Nicolaas +1 (604) 657 4058
Forward Looking Statement. The statements herein that are not historical facts are forward-looking statements. These statements address future events and conditions and so involve inherent risks and uncertainties, as disclosed under the heading "Risk Factors" in the company's periodic filings with Canadian securities regulators. Actual results could differ from those currently projected. The Company does not assume the obligation to update any forward-looking statement. The TSX Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
Mawson samples were prepared by ALS Chemex Ltd's laboratory in Pitea, Sweden and analyzed by Au-ICP21, ME-MS41u, PGM-ICP27 and ME-MS61u techniques by ALS Chemex Ltd's laboratory in Vancouver, Canada and Saskatchewan Research Council using standard ICP partial and full digestion and fire assay methods. The qualified person for Mawson's Finnish projects, Erkki Vanhanen, Finnish Exploration Manager for Mawson with a designation of European Geologist for the European Federation of Geologists (EFG), has reviewed and verified the contents of this release.
Table 1: Third Reported Batch of Channel Samples from Rompas, Finland (0.2 g/t Au lower-cut, no upper cut applied)