NEWSMawson drills 0.1% U(3)O(8) over 56 metres at Klappibacken
TSXv - MAW
Frankfurt - MRY
VANCOUVER, June 25 /CNW/ - Mawson Resources Limited ("Mawson") TSXv -
MAW; Frankfurt - MRY. Michael Hudson, President and CEO, announces new results
from the Company's first diamond drill program completed at the Klappibacken
uranium project in Sweden. Significant near-surface and high-grade uranium
mineralization was intersected. The results indicate the strength of the
uranium mineralized system and the potential for a major uranium deposit at
Klappibacken.
Two drill holes for a total of 169 metres were completed before the
spring thaw conditions prevented further drilling. The drill program will
continue when summer conditions provide suitable access. The Company expects
to resume drilling in July and will have two diamond drill rigs on site to
complete a 4,000 metre program. Best results, calculated with a lower cut-off
of 200ppm U(3)O(8), included:
<<
KLADD0703: 56 metres at 0.10% U(3)O(8) from 20 metres;
including 5 metres for 0.24% U(3)O(8) from 25 metres, and
including 24.7 metres for 0.12% U(3)O(8) from 46.3 metres;
KLADD0702: 23.1 metres at 0.12% U(3)O(8) from 18.6 metres; and
8.6 metres at 0.10% U(3)O(8) from 51.5 metres;
>>
Klappibacken is an intrusive-related uranium deposit, hosted by a
brecciated or cataclastic granite which is strongly enriched in fluorite.
Uranium mineralization is present within a single lense, generally greater
than 30 metres in width and locally up to 50 metres wide. Historical drilling
at Klappibacken has shown that mineralization extends to greater than 150
metres below the surface, at least 120 metres along strike, and remains open
both at depth and along strike. Both current drill holes were drilled on
Section 10 and intersected the mineralized body approximately 35 metres apart.
Drilling was at a high angle to the mineralized body and true widths are
between 90-100% of the drill indicated widths. The results demonstrate the
continuity of mineralization in three dimensions and confirm historic drill
data.
A radon cap survey was completed by Mawson at Klappibacken in 2006, to
measure the abundance of radon gas in the one metre thick soil that masks
bedrock in the prospect area. Radon gas is emitted as a daughter product
during the natural decay of uranium. This program identified numerous nearby
exploration targets up to two kilometers along strike from Klappibacken. These
targets include areas with a stronger radon gas signature than those
associated with the known mineralization. The radon cap targets shall be drill
tested early in the upcoming summer drilling program.
Mr Hudson states, "These drill results demonstrate the quality of
Klappibacken and the Company looks forward to commencing a major summer
drilling program at the project. Mineralization commences from surface and
remains open at depth. Surface indications from radon cap surveys and
scintillometer traverses define the footprint of high radioactivity to over
two kilometres strike, of which only 120 metres has been tested by drilling.
We look forward to continuing the drill program at Klappibacken in July '07
and the subsequent flow of drill results over the next 4 months." Further
information regarding these and previous results from the Kldppibdcken uranium
project may be found at:
https://www.mawsonresources.com/index.php?page=ProjectsKlap.
Update on Sweden's Nuclear Policy
Sweden's energy is provided by 47% nuclear power, 44% hydroelectric and
9% biofuels. The country is a world leader in nuclear efficiency research and
disposal of nuclear waste which occurs in-country. Sweden ranks among the top
countries in the world for reliance on nuclear power, as well as for power
plant efficiency. The current government recently overturned a 27 year
anti-nuclear power policy, and has approved the expansion of some nuclear
plants.
In Sweden, the same legislation is applied to all minerals (including
uranium) during the exploration phase. To gain approval for uranium mining, a
company must apply to the national government for a ruling. There is no ban on
uranium mining in Sweden today and the current government has stated it will
review all uranium mining projects in light of the relevant legislation and
environmental standards. The municipal government, where the specific project
is located, retains a right of veto for uranium mining projects. Sweden's
nuclear power plants require 1,500 tonnes of uranium fuel each year, all of
which is imported.
Uranium was analyzed by the ME-XRF05 technique by ALS Chemex Ltd's
laboratory in Vancouver, Canada, where duplicates, repeats, blanks and known
standards were inserted according to standard industry practice. The qualified
person for the Klappibacken uranium project, Mark Saxon, Director and
Vice-President of Exploration for Mawson, and a member of the Australasian
Institute of Mining and Metallurgy, has reviewed and verified the contents of
this release.
About the Company: Mawson Resources holds significant uranium resources
in the nuclear energy reliant countries of Spain, Sweden and Finland. As the
European Union reduces its reliance on carbon-based energy sources, Mawson is
well placed as the Company develops its exploration portfolio towards the
sustainable production of uranium in the shortest possible time frame.
Investor Information
On behalf of the Board,
"Michael Hudson"
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Michael Hudson, President & CEO