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Mawson Resources Ltd
Symbol MAW
Shares Issued 141,591,593
Close 2018-04-26 C$ 0.32
Market Cap C$ 45,309,310
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Mawson begins geophysical survey at Rajapalot

2018-04-26 09:24 ET - News Release

Mr. Michael Hudson reports

MAWSON COMMENCES GRADIENT ARRAY SURVEY AT RAJAPALOT GOLD PROJECT, FINLAND

Mawson Resources Ltd. has commenced an induced polarization (IP) geophysical survey within the Kairamaat (two-thirds permit) area at the company's 100-per-cent-owned Rajapalot gold project in Northern Finland.

Key points:

  • Given the success of the winter diamond drilling program at Rajapalot, which identified gold mineralization beyond the limits of geophysical data, a geophysical crew has been mobilized to extend IP coverage of the area.
  • Due to the association of sulphide minerals with gold mineralization at Rajapalot, IP is a valuable mapping tool (especially when used in combination with ground magnetics and airborne electromagnetics). IP provides the potential to directly identify gold-bearing host rocks under the thin glacial soil that covers 99 per cent of the prospect area.
  • A total of 29 line kilometres of gradient array IP and resistivity data will be collected along lines spaced at 50 metres in the southern part of the Kairamaat area.
  • The winter diamond drill program has now ended; a total of 16,204 metres were completed in 75 drill holes across four exploration permit areas. Diamond drilling is planned to restart at the Hirvimaa, Mannisto and Raja exploration areas in summer 2018.

Michael Hudson, chairman and chief executive officer, states: "At Rajapalot we have demonstrated that the gold-bearing rocks coincide with predictable electrical and magnetic geophysical responses, allowing direct targeting beneath thin glacial soil that covers 99 per cent of the prospect area. This new ground electrical survey in the Kairamaat area will allow for identification of drill targets beyond the limits of geophysical coverage for testing in upcoming drill programs."

Gradient array IP geophysical surveys can be used to accurately identify both disseminated sulphide minerals (where the surface area of sulphides may produce a chargeable electrical response) and electrically conductive features. Mawson's experience at the Rajapalot project indicates that gold mineralized rocks contain enough sulphide minerals to form both chargeable and conductive responses.

In other news, the winter diamond drill program has now ended with the commencement of the spring melt. A total of 16,204 metres for 75 drill holes was completed across four exploration permit areas (Mannisto, Kairamaat, Hirvimaa and Raja). Reporting of assays from 14 holes has been made and results will continue over the coming months as they become available. Drilling is scheduled to restart at the Hirvimaa, Mannisto and Raja areas during summer 2018.

Technical and environmental background

The IP survey is being conducted by two personnel from GeoVista AB (based in Lulea, Sweden). Line orientations for this program are matched with prior survey parameters. Postcollection processing and inversions of the data will be undertaken by Dr. Hans Thunehed of GeoVista.

The qualified person for Mawson's Finnish projects, Dr. Nick Cook, president for Mawson and fellow of the Australasian Institute of Mining Metallurgy, has reviewed and verified the contents of this release.

About Mawson Resources Ltd.

Mawson Resources 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.

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