PR out todayMawson increases landholdings at Rompas
2010-06-16 16:28 ET - News Release
Mr. Michael Hudson reports
MAWSON INCREASES CLAIM HOLDING AND RELEASES NI43-101 TECHNICAL REPORT AT THE ROMPAS GOLD-URANIUM PROJECT, FINLAND
Mawson Resources Ltd. has significantly increased its groundholding atthe recently acquired Rompas gold-uranium project in Finland. Mawsonhas now secured 95,919 hectares in the Rompas area, an eight-timeincrease from the original 11,870 hectares acquired from Areva NC. Thenew claim holdings consist of 81,510 hectares of claim reservations and2,539 hectares of claim applications.
Michael Hudson, presidentand chief executive officer of Mawson, states: "Rompas is a significantnew discovery for Finland and Mawson has taken the initiative to securea large claim area over the key prospective areas. Given grades of upto 12,800 grams per tonne gold and 43.6 per cent uranium from surfacegrab sampling, the high density of these showings and theirdistribution over a wide area, initial indications suggest thatmineralization-forming processes have been intensive and widespread."
Thecompany has also filed an NI 43-101-compliant technical report for theRompas project on SEDAR. The report was prepared by John Nebocat of PGSPacific Geological Services, a qualified and independent geologist. Themain conclusions of the report are:
- Preliminary prospecting and sampling have shown that occurrences of very high-grade uranium and gold exist at Rompas.
- The extent of this mineralization on the Rompas claim block is at least six kilometres north-northwest-south-southeast along its long axis, but may extend farther in either direction.
- The mineralization appears to be hydrothermal in nature and fracture controlled, hosted mainly by metavolcanics which may in part be skarnified and/or hornfelsed.
- Uraninite and native gold have been found in limonitic fractures within the metavolcanics and gold has been panned from many samples of limonitic colluvium.
- A possible intrusion-related, bulk-tonnage gold-plus-uranium deposit would be the conceptual target sought based on the observations made thus far.
As previously reported in Mawson news release inStockwatch of June 7, 2010, the Rompas project is a new gold anduranium discovery made by AREVA in 2008. Bonanza-grade gold and uraniummineralization has been discovered at surface over an area exceedingsix kilometres in strike and 200 metres in width. Mawson grab sampled21 sites. Gold values ranged from trace levels to 1,830 grams pertonne, or just over 53 ounces a ton, and averaged 224 grams per tonne(6.5 ounces per ton). Similarly, uranium values ranged from two partsper million to 435,000 parts per million (43.5 per cent) and averaged36,088 parts per million (3.6 per cent). AREVA assayed 20 samples fromRompas with gold values ranging from 0.1 gram per tonne to 12,800 gramsper tonne (373.3 ounces per ton) and averaged 1,146 grams per tonne(33.4 ounces per ton), AREVA's uranium levels ranged from 13 parts permillion to 249,000 parts per million (24.9 per cent) and averaged27,292 parts per million (2.7 per cent). Grab samples are selective bynature and are unlikely to represent average grades on the property. Asis typical for northern Finland, outcrop in the project area is notcommon. To date, no systematic channel sampling across structures hasbeen undertaken.
Quality control
Mawson samples wereanalyzed by ME-MS81, U-XRF05, XRF-10, Au-GRA21 and Au-AA25 techniquesby ALS Chemex Ltd.'s laboratories in Pitea, Sweden, and Vancouver,Canada. AREVA's samples were assayed at the Labtium Oy laboratory inRovaniemi, Finland, by methods 511P and 704P. The results of theduplicate laboratory analyses appear to be acceptable; however, nofield standards or blanks were included in the sample stream.
Thequalified person for Mawson's Finnish projects, Erkki Vanhanen, Finnishexploration manager for Mawson with a designation of European geologistfor the European Federation of Geologists (EFG), has reviewed andverified the contents of this release.