NewsMawson Resources drills wide intervals of gold mineralization within a 13 kilometre long gold trend in Sweden
VANCOUVER, Aug. 2 /CNW/ - Mawson Resources Limited (the "Company") TSXv -
MAW. Mr Michael Hudson, President & CEO, is pleased to announce results from
the Phase 1 drilling program at the Middagsberget project in Northern Sweden.
Middagsberget lies within a 13 kilometre mineralized trend, which includes the
Company's Fabodliden and Vargbacken gold projects. Gold mineralization at
Vargbacken lies 4 kilometres north-east from Middagsberget.
A total of 8 reverse circulation ("RC") holes for 583 metres were
drilled. To view all of the results please visit www.mawsonresources.com. By
applying a 0.5 g/t gold lower cut-off grade best results:
- RC01: 11m at 2.05 g/t gold from 32m, including 2m at 5.92 g/t gold;
- RC08: 29m at 1.37 g/t gold from 52m, including 2m at 3.91 g/t gold;
- RC07: 4m at 5.79 g/t gold from 42m, including 1m at 20.30 g/t gold;
- RC04: 6m at 2.07 g/t gold from 34m;
- RC02: 3m at 2.42 g/t gold from 26m, including 1m at 5.50 g/t gold;
4m at 2.72 g/t gold from 53m, including 1m at 9.01 g/t gold.
Higher grade results included 1m at 20.3g/t gold while the scale of the
mineralized system is demonstrated by applying a lower cut-off grade of
0.2 g/t gold, where:
- RC01: 22m at 1.26 g/t gold from 27m;
- RC08: 47m at 0.99 g/t gold from 43m;
- RC07: 30m at 1.05 g/t gold from 27m;
- RC04: 36m at 0.95 g/t gold from 20m.
In this first drill program, gold mineralization has been drill
delineated over an area of 100m by 100m. Mineralization remains open in all
directions with 5 holes finishing in better than 0.3 g/t gold. Mineralization
begins at 15m depth, immediately below the soil cover and extends to the limit
of RC drilling at 80m depth. Drill hole and prospect plans can be found at
https://www.mawsonresources.com/index.php?page=ProjectsMID.
Mr Hudson comments, "We are encouraged by the regular intersections of
higher grade gold within a broad footprint of mineralization, which is
developed from near-surface to the extent of our drilling. Follow-up drilling
at Middagsberget is a clear priority. Importantly, these results demonstrate
the prospectivity of the 13 kilometre Middasgberget-Fabodliden-Vargbacken
mineralized trend. The Company is actively exploring this mineralized
corridor, with sampling of gold-bearing quartz veins at Fabodliden and soil
geochemical sampling along strike from Vargbacken currently underway."
Gold at Middagsberget is disseminated and quartz vein-hosted and is
present as both coarse grained visible gold or associated with fine grained
sulphides. Mineralization is hosted within a silica-chlorite-albite-carbonate
altered diorite and is typical of the greenstone-hosted style of the Skellefte
Mining District.
It is not yet possible to make a conclusive statement defining true
widths in the reported down-hole intercepts. The qualified person for the
Middagsberget project is Mark Saxon, a Director and Vice-President of
Exploration for the Company and a member of the Australasian Institute of
Mining and Metallurgy. Mr. Saxon has reviewed and verified the contents of
this release.
On behalf of the Board,
"Michael Hudson"
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Michael Hudson, President & CEO
Forward Looking Statement. This news release contains certain "forward-
looking" statements and information relating to the Company that are based on
the beliefs of the Company's management as well as assumptions made by and
information currently available to the Company's management. Such statements
reflect the current risks, uncertainties and assumptions related to certain
factors including, without limitations, competitive factors, general economic
conditions, customer relations, relationships with vendors and strategic
partners, the interest rate environment, governmental regulation and
supervision, seasonality, technological change, changes in industry practices,
and one-time events. Should any one or more of these risks or uncertainties
materialize, or should any underlying assumptions prove incorrect, actual
results may vary materially from those described herein. Neither the TSX
Venture Exchange nor the Frankfurt Deutsche Borse have reviewed the
information contained herein and, therefore, do not accept responsibility for
the adequacy or accuracy of this news release.
For further information: Investor Information, www.mawsonresources.com,
1305 - 1090 West Georgia St., Vancouver, BC, V6E 3V7, Company Contact: Mariana
Bermudez (604) 685 9316, Investor Relation Consultants - Mining Interactive;
Nick Nicolaas, (604) 657 4058; Wayne Melvin ,(604) 619 6327; Email:
info@mawsonresources.com