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Mawson Acquires New Uranium Projects in Salamanca, Spain
Vancouver, Canada (ots/PRNewswire) - Mawson Resources Limited ("Mawson") (TSXv - MAW; Frankfurt - MRY). Michael Hudson, President & CEO, announced today that the Company had secured four uranium exploration claims totaling 11,400 hectares in the Salamanca uranium mining district of Western Spain. The ground was awarded to Mawson after a competitive public tender over areas previously held by the Spanish Government under the uranium State Reserve "Ciudad Rodrigo, No. 322".
The central exploration area, held as claims Salamanca 2 and Salamanca 3, consists of 3,153 hectares immediately adjacent to the State Reserves that cover Spain's largest historic uranium mines, including Mina Fé and Corta D. Mina Fé consists of primary uranium deposits of pitchblende, uraninite and coffinite and belongs to the fracture and breccia style of uranium mineralization. It is the largest known deposit of its type in the world and was the most significant uranium mine in Spain. Primary mineralization occurs as a network of narrow veins that occupy fractures and cavities. Mina Fé was mined by ENUSA (Empresa Nacional del Uranio, S.A.) from 1974 until 2000 and produced an estimated 11 million pounds of U(3)O8. Further uranium historic resources lie within the State Reserve that are yet to be exploited, including Zona M of Mina Fé, the Sageras deposit and the Gallegos deposit.
A second State Reserve, which abuts Mawson's new Salamanca 2 and Salamanca 3 claims, contains the Esperanza uranium deposit, an underground mine that was operated in the late 1950s and early 1960s by JEN (Junta Energía Nuclear). Historic resources at the Esperanza mine are 0.3 million tonnes grading 0.055% U(3)O8 for 363,000 lbs.
The other areas successfully obtained under the tender by Mawson include Salamanca 1 (3,310 hectares) and Salamanca 4 (4,937 hectares). These areas contain extensive and multiple uranium airborne radiometric anomalies and are located 10 kilometres north and 20 kilometres south of Mina Fé, respectively. More information regarding Mawson's Salamanca's district is available at http://www.mawsonresources.com/index.php?page(equal sign)ProjectsSalamanca.
Mr. Hudson stated: "Mawson now has a strong position within the two key uranium centres in Spain. This new acquisition, adjacent to Spain's largest uranium producing mines, together with the historic uranium mine under application at Don Benito in Extremadura and our Swedish and Finnish portfolio, helps to place the Company at the forefront of uranium exploration in Europe."
Sweden Drilling Update: In other news, the company reports that due to the spring thaw, drilling at Tasjo and Klappibacken has ceased until summer access can be established. At Tasjo, 53 holes for 2,398 metres were completed whilst 2 holes for a total of 169 metres were completed at Klappibacken. Slow progress was made at Klappibacken due to drill rig breakdowns. Results will be released as they become available over the next four to six weeks. The company plans to recommence drilling at Klappibacken late in June, when summer conditions provide suitable access. A ground EM survey is planned for Tasjo over the next six weeks to accurately map the near surface uranium host over a 20-kilometre strike length.
The qualified person for the Salamanca project, Mark Saxon, Director and Vice-President of Exploration for Mawson, and a member of the Australasian Institute of Mining and Metallurgy, 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 Börse 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 Ltd.
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