Mawson Granted Permission to Drill at Klappibacken
Vancouver, Canada (ots/PRNewswire)
Mawson Resources Limited
("Mawson") TSXv - MAW; Frankfurt - MRY. Michael Hudson, President &
CEO, reports that on Friday, October 5, the Company received final
permission from Swedish Authorities to allow further drilling at the
Klappibacken uranium project. Two diamond drill rigs will mobilize to
site within the next two to three weeks, to complete an initial 4,000
metre drill program.Significant high-grade and near-surface uranium mineralization was intersected during Mawson's previous drill campaign announced on June 25, 2007. The results indicated the strength of the Klappibacken uranium mineralized system and the potential for a major uranium deposit at Klappibacken.
Best results, calculated with a lower cut-off of 200 ppm U3O8, included:
KLADD0703 : 56 metres at 0.10% U3O8 from 20 metres;
including 5 metres for 0.24% U3O8 from 25 metres, and
including 24.7 metres for 0.12% U3O8 from 46.3 metres;
KLADD0702 : 23.1 metres at 0.12% U3O8 from 18.6 metres; and
8.6 metres at 0.10% U3O8 from 51.5 metres;Klappibacken is an intrusive-related uranium deposit, hosted by a brecciated or cataclastic granite which is strongly enriched in fluorite. Uranium mineralization is present within a single lense, generally greater than 30 metres in width and locally up to 50 metres wide. Historical drilling at Klappibacken has shown that mineralization extends to greater than 150 metres below the surface, at least 120 metres along strike, and remains open in all directions.
A radon cap survey was completed by Mawson at Klappibacken in 2006 and extended in 2007, to measure the abundance of radon gas in the one metre thick soil that masks bedrock in the prospect area. Radon gas is emitted as a daughter product during the natural decay of uranium. This program identified numerous nearby exploration targets up to two kilometers along strike from Klappibacken. These targets include areas with a stronger radon gas signature than those associated with the known mineralization. The radon cap targets shall be drill tested early in the upcoming drill program.
Mr Hudson states, "We are pleased that all permits are now in place that the Company can now continue to explore the prospective Klappibacken uranium project. Our team of four geologists and eight field assistants were active over summer collecting new field information from the Hotagen (Klappibacken, Tresjöarna and Stensjödalen) area. Two drill rigs will now mobilize in the next few weeks to follow up this work and the encouraging previous drill results obtained by the Company in early summer."
The qualified person for the Klappibacken 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.
About the Company: Mawson Resources holds significant uranium resources in the nuclear energy reliant countries of Spain, Sweden and Finland. As the European Union reduces its reliance on carbon-based energy sources, Mawson is well placed as the Company develops its exploration portfolio towards the sustainable production of uranium in the shortest possible time frame.
On behalf of the Board,
"Michael Hudson"
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.
http://www.mawsonresources.com
Contact:
For further information: Investor Information, 1305 - 1090 West
Georgia St., Vancouver, BC, V6E 3V7, Company Contact: Mariana
Bermudez, +1-604-685-9316; Investor Relations Consultants - Mining
Interactive, Nick Nicolaas, +1-604-657-4058; Wayne Melvin,
+1-604-619-6327, Email: info@mawsonresources.com