Mawson extends Palokas gold prospect, Finland

VANCOUVER, March 16, 2015 /CNW/ - Mawson Resources Limited ("Mawson") or (the "Company") (TSX:MAW) (Frankfurt:MXR) (PINKSHEETS: MWSNF) announces the results of recently completed 3D induced polarization "IP" and shallow diamond drilling programs and outlines upcoming work plans for the Palokas prospect in Lapland, Arctic Finland.

Key Points:

• A 600 metre long conductive anomaly (Figures 1 and 2) has been defined by a pseudo-3D pole-dipole IP and resistivity survey at Palokas Prospect extending down plunge from drilled near-surface gold mineralization (ie 19.5 metres @ 7.4 g/t gold from 1.3 metres depth (see Mawson Press Releases October 03, 2013, October 16, 2013 and January 20, 2014);
• The thickness of the conductive body increases with depth and is open below the 250 metre investigative depth of the survey;
• Final results from near-surface investigative drilling has returned results including 0.3m @ 49.6 g/t Au from 17.7 metres in drillhole PRAJ0097 located 1000 metres from the Palokas prospect (Figure 3).  Results from recent drilling are located above the conductive body defined by the 3D-IP program;
• The Company has purchased and will take delivery this week, of a hand portable Winkie diamond drill to extend its drill depth capacity from 40 metres down to 120 metres.  Drilling with the Winkie rig, which remains subject to final permitting, is planned to commence at Palokas in April, to test below known gold mineralization.

Mr Michael Hudson, President & CEO states, "The geophysical results reported present a compelling target down plunge from known mineralization at the Palokas gold project. Our new hand portable rig with extra depth capacity will advance our understanding of the 1.2km long Palokas mineralized system below the 30 metres depth we have tested to date. Subject to final permitting, we will start drilling in April."

The IP area surveyed commenced more than 250 metres north of Palokas to 500 metres south of the Palokas prospect. Gold at Palokas is associated with pyrrhotite which forms the conductive and chargeable anomaly associated with drilled gold mineralization and has been confirmed by petrophysics. The thickness of the conductive body increases with depth and is open below the 250 metre investigative depth of the survey.  The body plunges south and has little or no surface expression where recent near-surface drilling has provided near-miss and thinner mineralized gold hits.

The recently completed hand portable drill program consisted of 33 holes for 1160.5 metres with an average hole depth of 35.1 metres. Four additional holes did not drill through to basement. The final ten drill holes are reported here and shown in Tables 1 and 2.  The best results from the final ten holes include 0.3m @ 49.6 g/t Au from 17.65m in PRAJ0097, 1.15m @ 1.49 g/t Au from 8.3m in PRAJ0099 and 2.2m @ 1.73 g/t Au from 18.75m in PRAJ0105. These results are considered to form up dip from gold mineralization and represent near miss signatures.  This is supported by the recent 3D IP geophysical survey.

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.

Technical Background

The core sampling was undertaken by Mawson Staff who provided EW (25.2 mm) diameter core. Core recoveries were excellent and average close to 100% in fresh rock. After photographing and logging, core intervals averaging 1 metre in length were cut in half at the Geological Survey of Finland (GTK) core facilities in Rovaniemi, Finland. These half-core one metre samples weigh less than 0.7 kilograms. The remaining half core is retained on site for verification and reference purposes. Analytical samples were transported either commercial transport, or by Mawson personnel from site to ALS Chemex Ltd's laboratory in Piteå, Sweden. Samples were prepared at Piteå and sent to ALS Chemex Ltd's laboratory in Vancouver, Canada to be analyzed by Au-ICP21, GRA-21, ME-MS41u and ME-MS61u techniques. The QA/QC program of Mawson consists of the systematic insertion of certified standards of known gold content, with blanks at the beginning of each batch. In addition, ALS Chemex inserts a number of blanks and standards into the analytical process.

The qualified person for Mawson's Finnish projects, Mr Michael Hudson, President & CEO for Mawson and Fellow of the Australasian Institute of Mining Metallurgy has reviewed and verified the contents of this release.

On behalf of the Board,

"Michael Hudson"                  
Michael Hudson, President & 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, including statements regarding anticipated exploration activities and the intended financing 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, equipment failure, unexpected geological conditions, permitting, operational delays, 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 the hand portable, low impact drill rig from the Palokas Prospect, Rajapalot, Finland.

HoleID		Easting		Northing		Total Depth (m)		Dip		Azimuth		Date Reported
PRAJ0070		3408517		7373548		33.4		-60		115		October 07, 2014
PRAJ0071		3408506		7373549		43.2		-60		115		October 07, 2014
PRAJ0072		3408528		7373536		27.55		-60		115		October 07, 2014
PRAJ0073		3408542		7373530		15.8		-60		115		October 07, 2014
PRAJ0074		3408493		7373506		26.55		-60		155		October 07, 2014
PRAJ0075		3408486		7373517		28.27		-82		155		October 07, 2014
PRAJ0076		3408156		7372824		33.45		-60		59		October 07, 2014
PRAJ0077		3408168		7372831		35		-60		60		December 16, 2014
PRAJ0078		3408173		7372822		21.05		-60		115		December 16, 2014
PRAJ0079		3408160		7372818		23		-60		90		December 16, 2014
PRAJ0080		3408261		7372792		40.4		-60		115		December 16, 2014
PRAJ0081		3408241		7372787		41.4		-60		115		December 16, 2014
PRAJ0082		3408268		7372777		40.75		-60		115		December 16, 2014
PRAJ0083		3408314		7372378		33.2		-60		115		December 16, 2014
PRAJ0084		3408233		7372360		15.2		-60		115		December 16, 2014
PRAJ0085		3408389		7372277		43.4		-60		60		December 16, 2014
PRAJ0086		3408452		7372339		32.55		-60		20		December 16, 2014
PRAJ0087		3408852		7372282		8.85		-60		115		DID NOT REACH BASEMENT
PRAJ0088		3408815		7372268		4.95		-60		115		DID NOT REACH BASEMENT
PRAJ0089		3408815		7372268		5.7		-80		115		DID NOT REACH BASEMENT
PRAJ0090		3408818		7372227		43.34		-60		90		Here
PRAJ0091		3408840		7372188		37.4		-60		115		December 16, 2014
PRAJ0092		3408145		7373053		35.46		-60		115		December 16, 2014
PRAJ0093		3408131		7373059		40.95		-60		115		December 16, 2014
PRAJ0094		3408127		7373079		36.64		-60		180		Here
PRAJ0095		3408255		7373122		8.4		-60		135		DID NOT REACH BASEMENT
PRAJ0096		3408116		7372969		31.4		-60		115		December 16, 2014
PRAJ0097		3408107		7372978		37.35		-60		170		Here
PRAJ0098		3408442		7373471		27.65		-60		160		Here
PRAJ0099		3408435		7373485		34.95		-60		160		Here
PRAJ0100		3408427		7373499		31		-60		160		Here
PRAJ0101		3408419		7373516		48		-60		160		Here
PRAJ0102		3408415		7373536		48.05		-60		160		Here
PRAJ0103		3408401		7373553		49.7		-60		160		Here
PRAJ0104		3408466		7373511		32.2		-60		115		Here
PRAJ0105		3408447		7373519		46.55		-60		115		Here
PRAJ0106		3408430		7373528		45.7		-60		115		Here

Table 2: Assay data from the hand portable, low impact drill rig from the Palokas Prospect, Rajapalot, Finland.

A lower cut of 0.5 g/t over 1 metre was applied. 

HOLE ID		Summary Result		Comment		Date Reported
PRAJ0070		2m @ 9.1 g/t Au from 25.4m				28 Oct 2014
PRAJ0071		1.75m @ 1 g/t Au from 34.7m				28 Oct 2014
PRAJ0072		1.0m @ 14.8 g/t Au from 16.3m				28 Oct 2014
PRAJ0073		3.0m @ 5.1 g/t Au from 8.65m				28 Oct 2014
PRAJ0073		1.0m @ 0.5 g/t Au from 12.75m				28 Oct 2014
PRAJ0075		3.0m @ 2.8 g/t Au from 14.4m				28 Oct 2014
PRAJ0075		1.0m @ 0.5 g/t Au from 20.95m				28 Oct 2014
PRAJ0075		1.0m @ 1.3 g/t Au from 22.95m		Stopped in mineralization		28 Oct 2014
PRAJ0076		3.9m @ 3.2 g/t Au from 23m		Visible gold at 24.2m		December 16, 2014
PRAJ0080		1.0m @ 1.3 g/t Au from 10m				December 16, 2014
PRAJ0080		3.4m @ 2 g/t Au from 14m				December 16, 2014
PRAJ0080		3.0m @ 1.4 g/t Au from 35.9m		Stopped in mineralization		December 16, 2014
PRAJ0081		1.0m @ 0.6 g/t Au from 2.65m				December 16, 2014
PRAJ0081		0.9m @ 1.8 g/t Au from 21.55m				December 16, 2014
PRAJ0082		1.0m @ 0.8 g/t Au from 5m				December 16, 2014
PRAJ0082		1.0m @ 0.7 g/t Au from 9m				December 16, 2014
PRAJ0082		1.0m @ 0.5 g/t Au from 21.2m				December 16, 2014
PRAJ0096		1.1m @ 1.5 g/t Au from 17.5m				December 16, 2014
PRAJ0096		0.4m @ 3 g/t Au from 20.9m				December 16, 2014
PRAJ0097		0.3m @ 49.6 g/t Au from 17.65m				Here
PRAJ0099		0.9m @ 0.69 g/t Au from 6.5m				Here
PRAJ0099		1.2m @ 1.49 g/t Au from 8.3m				Here
PRAJ0099		0.4m @ 0.75 g/t Au from 11.35m				Here
PRAJ0099		0.8m @ 0.73 g/t Au from 19.55m				Here
PRAJ0100		0.9m @ 1.06 g/t Au from 21.75m				Here
PRAJ0101		0.8m @ 0.78 g/t Au from 33.75m				Here
PRAJ0104		1.2m @ 1.41 g/t Au from 4.5m				Here
PRAJ0104		1.0m @ 1.1 g/t Au from 7.5m				Here
PRAJ0105		2.2m @ 1.73 g/t Au from 18.75m				Here
PRAJ0106		2.0m @ 0.99 g/t Au from 13.15m				Here
PRAJ0106		1.1m @ 1.54 g/t Au from 35.95				Here

 

SOURCE Mawson Resources Ltd.

PDF available at: http://stream1.newswire.ca/media/2015/03/16/20150316_C5998_PDF_EN_13266.pdf

PDF available at: http://stream1.newswire.ca/media/2015/03/16/20150316_C5998_PDF_EN_13265.pdf

Investor Information: www.mawsonresources.com, 1305 - 1090 West Georgia St., Vancouver, BC, V6E 3V7, Seema Sindwani [phone], Mariana Bermudez [phone], Email: [email protected]