Mr. Michael Hudson reports
MAWSON CONTINUES TO EXPAND MINERALIZATION ALONG TREND AT RAJAPALOT, FINLAND
Mawson Resources Ltd. continues to expand the Rajapalot project in Finland with the discovery of two new project areas with high gold and uranium grades, with prospecting grab samples of disseminated mineralization returning up to 3,220 grams per tonne gold. These results extend the mineralized trend, which remains open, by 650 metres at Rajapalot.
Highlights include:
- Seventy-four prospecting grab samples taken from outcrop and glacial boulders (see the table), with better results including:
- 3,220 grams per tonne gold and 0.3 per cent triuranium octoxide (U3O8);
- 248 grams per tonne gold and 0.7 per cent U3O8;
- 43.1 grams per tonne gold and 27.4 per cent U3O8;
- 9.8 grams per tonne gold and 1.2 per cent U3O8;
- 1.8 grams per tonne gold and 1.7 per cent U3O8;
- 0.3 grams per tonne gold and 1.5 per cent U3O8.
- In total, nine project areas have now been defined at Rajapalot within an area extending over 2.5 kilometres by 3.5 kilometres.
- The new results are located immediately along strike and approximately two kilometres from recent core sampling holes, which returned results including 19.5 m at 7.4 g/t gold from 1.3 metres from PRAJ0006 and 5.4 m at 37.6 g/t gold from 2.5 metres from PRAJ0009 (see the Mawson news release dated Jan. 20, 2014).
- At least two styles of gold mineralization now exist at Rajapalot, the first with extremely low uranium grades (Palokas), the second with higher uranium grades, as evidenced by the new surface sample results.
Michael Hudson stated: "As we continue to build our business in Finland, it is very pleasing that our Finnish technical team continues to deliver such spectacular results to our investors. We believe the project is one of the world's most prospective greenfield gold projects, and given the extensive glacial cover in the area, the results highlight the potential of what remains to be found when the first program of larger-scale drilling can commence. We anticipate receiving our full drill permits for within the Natura 2000 biodiversity areas in Q3 this year. Next month we will mobilize a larger drill rig to test the Hirvimaa area, as well as the hand-portable core sampler to Raja West to follow up our surface sampling."
A summary of sample statistics from the new project areas is shown in a table, and all results received to date are shown in another table. New samples are all prospecting grab samples, which are selective by nature and are unlikely to represent average grades on the property. Mineralization from the new area is hosted in sulphide- and biotite-rich metasedimentary and volcanic rocks, with gold occurring as disseminated or replacement style. The glacial boulders sampled and reported are the same lithologies as nearby outcrops and appear to form boulder trains, and are thus considered to be proximal to their source. Of note are the high uranium grades discovered in these new areas, suggesting the presence of gold-only and uranium-dominant mineralized styles at Rajapalot. Like most of the Rajapalot area, the new prospect areas are within a predominantly swampy terrain, and therefore very little in situ bedrock has been located.
SUMMARY STATISTICS FROM NEW GRAB SAMPLES FROM RAJAPALOT, FINLAND
Max. Min. Average
Number of Au Au Au Max. Min.
Prospect samples Area g/t g/t g/t U3O8 ppm U3O8 ppm
Rumajarvi 270 m x
East 58 160 m 3,220 0.0 61.4 35,488 1.4
250 m x
Raja West 16 70 m 43.1 0.0 3.6 273,528 0.5
Max. Min. Average
Number of Average Co Co Co Sample
Prospect samples Area U3O8 ppm ppm ppm ppm type
36
boulders,
Rumajarvi 270 m x 22
East 58 160 m 2,353 5,900 15 400 outcrops
10
250 m x boulders,
Raja West 16 70 m 18,478 2,140 10 268 6 outcrops
The company also announces that a full suite of multielement analyses has now been returned from all core sample holes from the Palokas project at Rajapalot (holes PRAJ0003 to PRAJ0025; see the table). Of note are the consistently low uranium and high cobalt grades associated with gold mineralization. Cobalt also forms a broader halo around lower-grade (greater than 0.1 g/t) gold-mineralized zones. The low uranium grades drilled at Palokas also support the concept of both gold-rich and uranium-rich styles occurring within the Rompas-Rajapalot mineral field.
In other news, Mawson has been dealing with certain Finnish environmental authorities in regard to work completed during the 2010 and 2011 field programs (refer to the news release dated June 26, 2013). The issue involves allegations that the company's hand-dug trenches from these programs have affected the nature values of the area where the work was undertaken. The company has now been informed that the investigative process is complete, and the prosecutor has reviewed the investigative material and referred the matter to trial, with the case to be heard in the Kemi-Tornio district court during third-quarter 2014. Mawson is pleased the case is advancing and will be handled through a formal legal process. Mawson believes the claims made are without merit and will vigorously defend itself and its employees. Mawson has always maintained that hand digging has no material impact on the nature values of the area in question. Mawson believes it conducted its operations within the intent and law of the mining and nature conservation acts.
NEW ASSAY RESULTS FROM PROSPECTING GRAB SAMPLES FROM THE RAJAPALOT AREA
(float equals glacial boulder sample; grab equals prospecting grab sample
from outcrop/subcrop)
Max.
Number of Approximate Max. Min. Average U
Prospect samples area Au g/t Au g/t Au g/t ppm
Joki 14 800 m x 150 m 2,817 0.0 453.7 81900
Palokas 17 170 m x 55 m 85.0 0.0 20.7 15100
Rumajarvi 32 700 m x 250 m 1,380 0.0 85.6 4870
Hirvimaa 17 300 m x 100 m 1520 0.0 55.5 17300
Rumajarvi
East 58 270 m x 160 m 3,220 0.0 61.4 35,488
Raja West 16 250 m x 70 m 43.1 0.0 3.6 273,528
Min. Average
Number of Approximate U U Sample
Prospect samples area ppm ppm type Reported
6
outcrops, Jan. 14,
Joki 14 800 m x 150 m 3.7 12544 8 boulders 2013
15
outcrops, Jan. 14,
Palokas 17 170 m x 55 m 2.5 1331 2 boulders 2013
8
outcrops,
24 Jan. 14,
Rumajarvi 32 700 m x 250 m 2.7 732 boulders 2013
8
outcrops, Jan. 14,
Hirvimaa 17 300 m x 100 m 0.1 2246 9 boulders 2013
36
boulders,
Rumajarvi 22
East 58 270 m x 160 m 1.4 2,353 outcrops Here
10
boulders,
Raja West 16 250 m x 70 m 0.5 18,478 6 outcrops Here
Sample Au U3O8 Co
Sample ID type ppm ppm ppm
228638 Float 0.4 26 680
228639 Float 0.3 10 138
228640 Float 0.0 3 87
228641 Float 0.1 6 197
237898 Float 3220.0 3018 320
237899 Float 0.0 5235 49
238277 Float 0.2 2 28
238278 Float 0.1 107 795
238279 Float 0.1 6 212
238289 Float 3.2 264 1440
238290 Float 0.2 7 37
238291 Float 5.2 7 20
238292 Float 1.8 243 611
238293 Float 0.3 825 360
238846 Float 0.5 14 119
238849 Float 8.9 205 111
238851 Float 0.2 3950 365
238852 Float 0.2 69 523
238853 Float 0.2 4433 79
238854 Float 0.3 14502 982
238856 Float 0.0 226 83
238857 Float 0.4 4 56
238860 Float 0.1 943 1570
238861 Float 0.0 1 19
238866 Float 0.8 432 1270
238871 Float 0.2 24 707
238872 Float 248.0 7015 250
238883 Float 0.1 8 254
238884 Float 0.2 153 292
238885 Float 0.3 96 130
238886 Float 1.9 11 47
238887 Float 0.1 1639 800
238888 Float 0.6 126 144
238889 Float 6.6 31 15
238891 Float 1.8 17213 491
238894 Float 32.7 2452 264
228642 Grab 0.0 482 28
238855 Grab 0.0 2 56
237894 Grab 0.1 13 81
237895 Grab 0.4 637 242
237896 Grab 0.3 743 51
238845 Grab 0.4 1804 433
238848 Grab 2.0 229 47
238862 Grab 0.1 10 109
238863 Grab 0.1 22 165
238864 Grab 0.2 24 139
238865 Grab 10.6 78 292
238867 Grab 0.1 13323 222
238868 Grab 0.7 181 74
238869 Grab 0.0 2240 235
238870 Grab 0.2 802 80
238873 Grab 0.7 1297 387
238882 Grab 4.7 35488 5900
238890 Grab 2.4 15327 392
238892 Grab 0.7 297 118
238893 Grab 0.6 149 214
238283 Float 0.0 2 64
238284 Float 0.0 2 63
238285 Float 0.1 76 372
238286 Float 2.4 7923 44
238287 Float 43.1 273528 172
238288 Float 0.8 59 37
238876 Float 0.0 30 10
238878 Float 9.8 11790 139
238879 Float 0.0 1403 812
238880 Float 0.7 116 152
237872 Grab 0.0 27 15
238877 Grab 0.0 4 64
237765 Grab 0.1 0 64
238280 Grab 0.5 531 2140
238281 Grab 0.0 80 25
238282 Grab 0.0 79 121
MULTIELEMENT ANALYSES FROM CORE SAMPLE HOLES PRAJ0003-PRAJ0025
FROM THE PALOKAS PROJECT, RAJAPALOT, FINLAND
(cobalt and uranium oxide reported for the first time)
From To Width Au U3O8 Co
Hole ID (m) (m) (m) g/t ppm ppm Reported
PRAJ0003 0 9 9.0 10.2 43 587 Oct. 3, 2013
PRAJ0003 12 13 1.0 0.6 29 532 Oct. 3, 2013
PRAJ0004 2 10.25 8.3 5.9 44 454 Oct. 16, 2013
PRAJ0005 6.65 19.22 12.6 3.6 18 522 Oct. 16, 2013
PRAJ0006 1.3 20.8 19.5 7.6 35 711 Oct. 16, 2013
PRAJ0008 0.3 8 7.7 1.4 25 610 Oct. 16, 2013
PRAJ0009 2.5 7.9 5.4 37.6 33 953 Oct. 16, 2013
PRAJ0009 13.9 14.7 0.8 0.6 14 1090 Oct. 16, 2013
PRAJ0009 22.7 23.7 1.0 2.6 9 476 Oct. 16, 2013
PRAJ0009 25.4 28.25 2.9 2.3 19 541 Oct. 16, 2013
PRAJ0009 30.25 31.25 1.0 0.6 9 303 Oct. 16, 2013
PRAJ0009 32.25 33.25 1.0 0.7 4 66 Oct. 16, 2013
PRAJ0010 3.3 6.3 3.0 1.4 9 466 Jan. 20, 2014
PRAJ0018 4.4 5.4 1.0 1.6 4 346 Jan. 20, 2014
PRAJ0018 14.75 15.75 1.0 0.5 8 227 Jan. 20, 2014
PRAJ0020 5.2 8.2 3.0 4.2 13 1035 Jan. 20, 2014
PRAJ0020 11.2 13.2 2.0 4.4 26 655 Jan. 20, 2014
PRAJ0020 22 24 2.0 2.2 13 456 Jan. 20, 2014
PRAJ0020 26 27 1.0 0.9 9 1800 Jan. 20, 2014
PRAJ0021 2.7 4.7 2.0 1.1 12 691 Jan. 20, 2014
PRAJ0022 8 27 19.0 2.3 53 570 Jan. 20, 2014
PRAJ0022 32.6 33.6 1.0 1.9 4 97 Jan. 20, 2014
PRAJ0023 11.16 14.4 3.2 1 102 703 Jan. 20, 2014
PRAJ0023 18.62 28.52 9.9 2.2 32 736 Jan. 20, 2014
PRAJ0024 22.65 26.8 4.2 0.6 48 724 Jan. 20, 2014
PRAJ0024 28.05 35.95 7.9 2.7 16 524 Jan. 20, 2014
PRAJ0025 16.9 25.6 8.7 4.6 82 351 Jan. 20, 2014
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