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Mawson Drilling Triples Gold Mineralized Area and Discovers Bonanza-Grade Gold Boulders at Middagsberget, Sweden
Vancouver, Canada, November 17 (ots/PRNewswire) - Mawson Resources Limited ("Mawson") TSXv - MAW; Frankfurt - MRY. Mr Michael Hudson, President & CEO is pleased to announce results from the Phase 2 drilling program and surface sampling from the Middagsberget gold project in Northern Sweden. Middagsberget lies within a 13 kilometre mineralized trend, which includes the Company's Fabodliden and Vargbacken gold projects. Mineralization at Vargbacken, where the Company is currently drilling, lies 4 kilometres north-east from Middagsberget.
Sixteen RC drill holes for a total of 1171 metres were completed in the Middagsberget area. Results are available for nine of these holes that tested the immediate strike extensions of the Middagsberget prospect. Seven additional drill holes for 405 metres tested semi-regional surface geochemical anomalies within 1.2 km of the Middagsberget prospect.
@@start.t1@@ By applying a 0.5 g/t gold lower cut-off grade best results include:
- RC09: 5m at 3.5 g/t gold from 20m, including 1m at 12.0 g/t gold;
- RC12: 1m at 12.9 g/t gold from 57m
- RC13: 2m at 4.1 g/t gold from 34m
- RC14: 4m at 1.5 g/t gold from 63m
- RC15: 2m at 3.0 g/t gold from 42m
- RC20: 6m at 1.1 g/t gold from 25m@@end@@
Gold mineralization has now been drill delineated over an area of 300 metres by 100 metres. Mineralization remains open at depth and to the northwest and southeast along the interpreted trend of the system. Mineralization begins at 15m depth, immediately below the soil cover and extends to the limit of RC drilling at 80m depth.
At Middagsberget North, 550m north-west along strike from Middagsberget, surface sampling has discovered a 250m long bonanza-grade gold mineralized boulder train. Individual grab samples from five large and angular boulders up 1m3 averaged 19.7 g/t gold with values ranging from 0.01 g/t gold to 60.8 g/t gold. Other significant results included 34.0 g/t gold and 13.9 g/t gold from separate boulders. These results are located 250m to the south-west and down-ice direction from previously announced boulder sampling which included 4m (at) 19.1 g/t gold (Mawson News Release 6 Sept 2005).
Mr Hudson comments, "We are encouraged that the current drill program has tripled the gold mineralized area at Middagsberget. The prospect remains open both along strike and at depth. The numerous locally sourced high grade gold boulders located 550 metres north-west along the same mineralized trend demonstrate the scale of the system. Their presence suggests that higher grades remain to be discovered within this expanding gold system. Our next drill program at Middagsberget will target the source of these boulders."
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. Drill hole and surface sampling plans can be found at http://www.mawsonresources.com/index.php?page(equal sign)ProjectsMID.
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 VP-Exploration for Mawson, 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, 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.
ots Originaltext: Mawson Resources Limited
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