Mawson mobilizes fifth rig to the Rajapalot project in Finland
VANCOUVER, March 19, 2018 /CNW/ - Mawson Resources Limited ("Mawson") or (the "Company") (TSX:MAW) (Frankfurt:MXR) (PINKSHEETS: MWSNF) announces mobilization of an additional diamond drill rig to the Company's 100% owned Rajapalot gold project in Northern Finland. Five rigs are now on site that continue to drill 24/7.
Key Points:
- A fifth diamond drill rig has been mobilized to site with all rigs operating 24/7;
- Thirty-nine holes (PAL0083 – PAL0121) have been completed or are in progress for a total of 8,900 metres of diamond drill core.
- Results from the first five drill holes as reported March 01, 2018 were highly encouraging with PAL0093 intersecting 31.7 metres @ 8.4 g/t gold from 244.1 metres, including 10.9 metres at 21.0 g/t gold from 252.2 metres. Results are pending for thirty-two holes;
- Drilling at Rajapalot has focussed on expanding the size of the known gold prospects; Raja, Palokas, South Palokas and Terry's Hammer and testing twelve semi-regional targets;
- 592 base-of-till ("BOT") holes for 2780 metres have been completed at the Rompas project which lies 8 kilometres west of Rajapalot. These shallow BOT holes targeted Rajapalot-style gold mineralization in the rocks surrounding Rompas. BOT holes were drilled at between 25-50 metres spacing on 19 lines for a total drill-traverse length of 22.9 kilometres. These holes will be used to define diamond drill targets for the summer season;
- In the annual Fraser Institute survey as announced February 2018, Finland was recognised as the top jurisdiction in the world for exploration/mining Investment Attractiveness.
Mr. Hudson, Chairman and CEO, states, "With the excellent results achieved in our first five holes, and many high priority targets to test, we have elected to further increase our rig capacity at Rajapalot. With up to six weeks of the Finnish winter drill season remaining, and many holes already awaiting assays, we anticipate many months of discovery and news flow from this exciting program."
Technical and Environmental Background
Three diamond drill rigs (K1 & K2) from the Arctic Drilling Company OY ("ADC") and MK Core Drilling OY ("MK"), all with water recirculation and drill cuttings collection systems were used for the drill program. Core diameter is NQ2 (50.7 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 metres 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 Raahe, 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 a 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.
SOURCE Mawson Resources Ltd.
www.mawsonresources.com, 1305 - 1090 West Georgia St., Vancouver, BC, V6E 3V7, Mariana Bermudez (Canada), Corporate Secretary, +1 (604) 685 9316, [email protected]
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