VANCOUVER, July 30, 2015 /CNW/ - Mawson Resources Limited ("Mawson") or (the "Company") (News - Market indicators) (Frankfurt:MXR) (PINKSHEETS: MWSNF) announces that the Company will recommence drilling at the Palokas high grade gold discovery within the Rajapalot project area in Finland on Monday August 03, 2015.
Drilling will be performed down dip and down plunge from recent drill results, which have included:
- 19.5 metres @ 7.4 g/t gold from 18.1 metres, including
- 5.0m @ 24.1 g/t gold from 26.7 metres (see Mawson Press Release May 19, 2015)
- 19.0 metres @ 2.3 g/t gold from 8.0 metres, including:
- 8.7m @ 4.6 g/t gold from 16.9 metres (see Mawson Press Release January 20, 2014);
- 19.5 metres @ 7.4 g/t gold from 1.3 metres, including:
Mr Hudson states, "Previous gold intersections at Palokas are wide, high-grade, near-surface and remain open in all directions. Should results prove encouraging, we now have the ability to drill with our Winkie rig through to the Finnish winter without interruption. We will continue to work closely with both the mining and environmental authorities to ensure our work is conducted according to sustainable and global best practice methods."
Drilling will be undertaken with a Company-owned and operated, hand portable, low impact Winkie drill rig, capable of drilling to depths of 120 metres. The anticipated program from the beginning of August until the end of October will consist of up to 12 holes for 600 metres. Drill holes will test below and along strike from known gold mineralization within an area of 600 metres along strike by up to 200 metres across strike.
Mawson, in conjunction with all environmental authorities, has completed and will continue biological baseline mapping of all areas where drilling and access will take place. The Company will minimize its environmental footprint, including the capture of all drill cuttings, reduction in total machine weight and the placement of walkways to reduce the impacts of foot traffic.
About Mawson Resources Limited (TSX:MAW, FRANKFURT:MXR, PINKSHEETS:MWSNF)
Mawson Resources Limited 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.
The qualified person for Mawson's Finnish projects, Mr. Michael Hudson, President & CEO for Mawson and Fellow of the Australasian Institute of Mining Metallurgy has reviewed and verified the contents of this release.
On behalf of the Board,
"Michael Hudson"
Michael Hudson, President & CEO
Forward-Looking Statement
This news release contains forward-looking statements or forward-looking information within the meaning of applicable securities laws (collectively, "forward-looking statements"). All statements herein, other than statements of historical fact, are forward-looking statements. Although Mawson believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate, and similar expressions, or are those, which, by their nature, refer to future events. Mawson cautions investors that any forward-looking statements are not guarantees of future results or performance, and that actual results may differ materially from those in forward-looking statements as a result of various factors, including, but not limited to, capital and other costs varying significantly from estimates, changes in world metal markets, changes in equity markets, planned drill programs and results varying from expectations, delays in obtaining results, equipment failure, unexpected geological conditions, local community relations, dealings with non-governmental organizations, delays in operations due to permit grants, environmental and safety risks, and other risks and uncertainties disclosed under the heading "Risk Factors" in Mawson's most recent Annual Information Form filed on www.sedar.com. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, Mawson disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise.
SOURCE Mawson Resources Ltd.
For further information: Investor Information,
www.mawsonresources.com, 1305 - 1090 West Georgia St., Vancouver, BC, V6E 3V7; Mariana Bermudez +1 (604) 685 9316, Email:
info@mawsonresources.com
