RE: WOW!!!...there's the reason!!!...the NR--MAWSON CHANNEL SAMPLES 0.3m @ 1,866 g/t GOLD AND 8 % URANIUM AT ROMPAS IN FINLAND
VANCOUVER, Nov. 19, 2010 (Canada NewsWire via COMTEX News Network) --
Mawson Resources Limited ("Mawson") TSX - MAW; Frankfurt - MRY. Mr Michael Hudson, President & CEO, announces the first channel sample results from the Company's 100% owned Rompas gold-uranium project in northern Finland.
Highlights from 39 surface channel samples include 0.3m @ 1,866 g/t Au and 8.0 % U, and 0.26m @ 1,510 g/t Au and 3.95 % U (Table 1, Figures 1 and 2). The diamond saw-cut channel samples are considered the first representative samples collected at Rompas.
Included in this batch were 10 mineralized grab samples that averaged 672 g/t Au and 2.06 % U and ranged from 0.2 g/t to 3,230 g/t Au and 14.6 ppm to >15% U. Grab samples are selective by nature and are unlikely to represent average grades on the property.
All samples reported come from Rompas South. The channels were taken over a strike distance of 75 metres and grab samples over an area of 65m by 125m (Figure 1). To date, hundreds of gold and uranium showings have been discovered at Rompas over a surface area exceeding 6.5km in strike and 200m average width. A total of 984 rock chip samples (including 111 highly radioactive samples) remain to be reported by the laboratory from the field program conducted this summer at Rompas.
Table 1: First Representative Channel Samples from Rompas, Finland (0.5 g/t Au lower-cut)
Locality Width Au U
Number (m) g/t %
107590 0.30 1,866 8.0
107588 0.26 1,510 4.0
including 0.05 6,050 14.8
107588 0.09 325 0.7
107588 0.09 314 0.8
107588 0.04 18.7 0.01
107588 0.09 17.6 0.02
107588 0.10 8.1 0.01
107752 0.30 190 0.4
107587 0.12 3.1 0.2
107770 0.09 1.6 0.00
"This first reported set of representative channel sample results are a milestone for Mawson at Rompas, as they demonstrate the repeated occurrence of bonanza grade gold developed within multiple, 10-30cm wide structures with mineralized margins" said Mr Hudson. "This set forms only a small part of the samples collected from surface discoveries this summer at Rompas over a very significant strike and width. The prospectivity of Rompas is now beginning to be revealed."
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 11% of the Company and provides Mawson with an active technical partner.
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: 49,747,253. Cash: approximately C$14 million.
On behalf of the Board, "Michael Hudson" Michael Hudson, President & CEO
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 analyzed by Au-ICP21, ME-MS41u, PGM-ICP27 and ME-MS61u techniques by ALS Chemex Ltd's laboratories in Pitea, Sweden and Vancouver, Canada. 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.
To view Figure 1: Surface plan from Rompas South and Figure 1: Channel Sample Site 107590, please visit https://files.newswire.ca/748/mawson_figures.doc
SOURCE: Mawson Resources Ltd.
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