Mawson Building High-Grade Core at the Raja Prospect, Finland

Mawson Building High-Grade Core at the Raja Prospect, Finland

Canada NewsWire

Drills 19.7 metres @ 8.9 g/t Gold Equivalent

VANCOUVER, May 28, 2019 /CNW/ - Mawson Resources Limited ("Mawson") or (the "Company") (TSX:MAW) (Frankfurt:MXR) (PINKSHEETS: MWSNF) announces gold-cobalt results from 5 drill holes at the Raja prospect from the Company's 100% owned Rajapalot Project in northern Finland. Sixteen holes with full assays remain to be reported from the 44 hole winter drill program.

The best result is PAL0190 which intersected 19.7 metres @ 8.9 g/t gold equivalent ("AuEq"), 7.4 g/t gold ("Au") and 908 ppm cobalt ("Co") from 371.0 metres, confirming a 250 metre-long high-grade Au-Co core that remains open down plunge. PAL0190 was drilled to target this high-grade trend, providing encouragement on the continuity of the high-grade core and the ability to target high grade mineralization.

This high-grade core, which occurs within a broader mineralized envelope, has now been intersected multiple times including 85 metres up-plunge from PAL0190 in drill hole PAL0188 (31.3 metres @ 6.0 g/t AuEq, 4.3 g/t Au and 1,030 ppm Co from 298.6 metres) and PAL0093 located 140 metres up plunge (33.6 metres @ 9.7 g/t AuEq, 8.0  g/t Au, 823 ppm Co from 243.0 metres). Additionally, on section 30 metres east of PAL0190, PAL0118 intersected 20.7 metres @ 5.6 g/t AuEq, 3.6 g/t Au, 956 ppm Co from 365.2 metres. PAL0191 drilled 80 metres down plunge in the trend contains visible gold associated with pyrrhotite (assay results remain to be reported).

"The winter drilling has delivered further strong results from Raja with 19.7 metres @ 8.9 g/t gold equivalent intersected by PAL0190 within a high core" said Mr. Michael Hudson, Chairman and CEO of Mawson. "Most significant is the predictability and continuity of the cigar-shaped high-grade core that is now 30-50 metres wide and 20-30 metres thick that has now been traced over 250 metres down plunge and remains open at depth. This a significant advancement in understanding of the mineralized system by our geological team, which will deliver benefits in future targeting during on-going exploration programs."

Mawson completed 44 holes (PAL0159–PAL0201D1) for 15,059 metres (two short holes abandoned, one wedged hole) during the 2019 winter drill season. Results from 5 holes from the Raja prospect are provided here (PAL0167, 175, 187, 189 & 190; Tables 1-3). Sixteen holes with full assays remain to be reported that were predominantly drilled down plunge from resource areas including PAL0191 (Raja), PAL0194 (Palokas) and PAL0198 (South Palokas), where sulphidic (pyrrhotite-rich) intersections with visible gold provide encouragement.

Drill hole PAL0190 is the deepest high-grade drill hole reported from Raja to date, at greater than 300 metres vertically from surface. The predictable sub-vertical and linear nature of the high-grade Au-Co structural control within certain stratabound units provides encouragement for the continuity of mineralized bodies. The trend of this high-grade Au-Co core shown in Figure 1 is 339 degrees (true). Longitudinal section (Figure 2) and cross sectional (Figure 3) views show the location of this high-grade core with respect to other drill holes.

Other holes reported in this release include PAL0189, previously reported for gold-only, which was drilled 230 metres up-plunge from PAL0190 and intersected 5.0 metres @ 3.7 g/t AuEq, 2.7 g/t Au and 581 ppm Co from 200.0 metres; and 4.3 metres @ 3.8 g/t AuEq, 2.3 g/t Au and 931 ppm Co from 210.0 metres representing 35% and 67% increases respectively on earlier results (reported April 23, 2019). Drill hole PAL0187 was drilled 50 metres down plunge from PAL0190 and 45 metres west of the inferred high-grade core and intersected 1.4 metres @ 2.3 g/t AuEq, 0.1 g/t Au, 1,345 ppm Co from 400.4 metres.

Mawson will continue to release results on a prospect-by-prospect basis as assay data become available.

Technical and Environmental Background
The gold equivalent ("AuEq") value used in the resource and this press release was calculated using the following formula: AuEq g/t = Au g/t + (Co ppm/608) with assumed prices of Co $30/lb; and Au $1,250/oz. AuEq varies with gold and cobalt prices. A long-term price point has been chosen for both commodities to maintain consistency of reporting individual drill holes against the resource dated December 2018.  Approximate spot prices for gold and cobalt are currently $1280/oz and $16/lb respectively.

Assuming a predominant stratabound control, the true thickness of the mineralized interval is interpreted to be approximately 90% of the sampled thickness. Quality control duplicates for all holes show good repeatability of gold assays. Intersections are reported with a lower-cut of 0.5g/t gold or 304ppm Co over 2 metre lower cut, except where indicated. No upper cut-off was applied.

Four diamond drill rigs (K3 & K8) from the Arctic Drilling Company OY ("ADC"), Kati OY ("Kati") and MK Core Drilling OY ("MK"), all with water recirculation and drill cuttings collection systems were used for the drill program. Core diameter is NQ2 (50.7 mm). Core recoveries were excellent and average close to 100% in fresh rock. After photographing and logging in Mawson's Rovaniemi facilities, core intervals averaging 1 metre for mineralized samples and 2 metres for barren samples were cut in half at the Geological Survey of Finland (GTK) core facilities in Rovaniemi, Finland. The remaining half core is retained for verification and reference purposes. Analytical samples were transported by Mawson personnel or commercial transport from site to the CRS Minlab Oy facility in Kempele, Finland. Samples were prepared and analyzed for gold using the PAL1000 technique which involves grinding the sample in steel pots with abrasive media in the presence of cyanide, followed by measuring the gold in solution with flame AAS equipment. Multi-element assays, including cobalt are determined using the ICP-MS method (IMS-230) of MS Analytical shipped directly from the CRS Minlab Oy facility. The QA/QC program of Mawson consists of the systematic insertion of certified standards of known gold content, duplicate samples by quartering the core, and blanks the within interpreted mineralized rock. In addition, CRS and MS Analytical insert blanks and standards into the analytical process.

The qualified person for Mawson's Finnish projects, Dr. Nick Cook, President for Mawson and a Fellow of the Australasian Institute of Mining Metallurgy has reviewed and verified the contents of this release.

NI 43-101 Technical Report
On December 19, 2018, Mawson filed an independent National Instrument 43-101 Technical Report (the "NI 43-101 Technical Report") on the Mineral Resource Estimate for the Raja and Palokas Prospects, at the 100% owned Rajapalot Project in Finland, (the "NI 43-101 Technical Report"), in support of the Company's news release dated December 17, 2018. The NI 43-101 Technical Report was authorized by Mr. Rod Webster of AMC Consultants Pty Ltd ("AMC") of Melbourne, Australia, and Dr. Kurt Simon Forrester of Arn Perspective of Surrey, England. Each of Mr. Webster and Dr. Forrester are independent "qualified persons" as defined by National Instrument 43-101. The NI 43-101 Technical Report may be found on the Company's website at www.mawsonresources.com or under the Company's profile on SEDAR at www.sedar.com.

About Mawson Resources Limited (TSX:MAW, FRANKFURT:MXR, PINKSHEETS:MWSNF)

Mawson Resources Limited is a sustainable and ethical exploration and development company. Mawson has distinguished itself as a leading Nordic Arctic exploration company with a focus on the flagship Rajapalot gold-cobalt project in Finland, a significant and strategic gold-cobalt resource for Finland with the maiden resource positioned as one of Finland's current top three gold resources by grade and contained ounces and one of a small group of cobalt resources prepared in accordance with NI 43-101 policy within Europe.


On behalf of the Board,

"Michael Hudson"                  
Michael Hudson, Chairman & 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.

Figure 1: Plan of Raja prospect area indicating drill results, the outline of 43-101 resource, modelled ground TEM plates over a Lidar background. Note also the trend of the high-grade Au-Co trend of 339 degrees. For more detailed location information, refer to press release of April 23, 2019. (http://mawsonresources.com/news/news-releases/2019/mawson-drills-313-metres-at-60-gt-aueq-at-raja-gold-cobalt-prospect-finland) (CNW Group/Mawson Resources Ltd.)

Figure 2: Longitudinal section at Raja prospect indicating the new and existing high-grade Au-Co results within the 339 linear trend. The view is towards 069 degrees. The blocks from within existing resources are shown along with the modelled TEM plate. See Figure 1 for location of section in plan view. (CNW Group/Mawson Resources Ltd.)

Figure 3: Cross section at Raja prospect indicating the projection of the high-grade trend with PAL0190 and PAL0118 AuEq results. See Figure 1 for section location in plan view. (CNW Group/Mawson Resources Ltd.)

Table 1: Collar Information from 2019 Winter drilling at the Rajapalot Project (Finnish Grid, Projection KKJ3)

HoleID

East

North

Azimuth

Dip

RL

Depth

Prospect

Comment

PAL0159

3408545.8

7372603.5

56

-71

179.162

473.8

Raja

Au results Mar 04
2019

Co results Apr 23
2019

PAL0160

3408485.8

7372581.1

67

-79

177.865

447

Raja

Au and Co
results Apr 23
2019

PAL0161

3408696.1

7372556.6

57

-75

179.24

405.8

Raja

Au results Mar 04
2019

Co results Apr 23
2019

PAL0162

3408446.4

7372648.4

46

-84.5

180.158

482.9

Raja

Au results Mar 04
2019

Co results Apr 23
2019

PAL0163

3408487.0

7372587.9

65

-73.5

178.218

470.05

Raja

Au results Mar 04
2019

Co results Apr 23
2019

PAL0164

3408545.4

7372603.2

61.1

-75.6

178.586

441.7

Raja

Au and Co
results Apr 23
2019

PAL0165

3408612.7

7372312.2

60

-79

176.25

167.9

Raja

Au results Mar 04
2019

Co results Apr 23
2019

PAL0166

3408897.7

7372385.3

240

-83

170.452

238.6

Raja

Au and Co
results Apr 23
2019

PAL0167

3408486.0

7372587.0

96

-85

178

398.6

Raja

Au results Mar 04
2019

Co results here

PAL0168

3408554.5

7372806.4

233

-83

173.987

45.6

Raja

Abandoned hole

PAL0169

3408553.5

7372806.4

233

-83

173.987

545.8

Raja

Au and Co
results Apr 23
2019

PAL0170

3408713.0

7372255.4

60

-79

172.803

200.2

Raja

Results Awaited

PAL0171

3408603.8

7372636.0

58

-73

179.753

497.6

Raja

Au and Co
results Apr 23
2019

PAL0172

3408447.4

7372648.4

47

-79.5

180.158

491.9

Raja

Au and Co
results Apr 23
2019

PAL0173

3408255.8

7373707.9

116

-56

173.48

427.9

South Palokas

Au results Mar 04
2019

Co results
awaited

VG

PAL0174

3408255.8

7373707.9

116

-69.5

173.48

8.3

South Palokas

Abandoned hole

PAL0175

3408830.5

7372237.5

60

-74

172.071

120.1

Raja

Results here

PAL0176

3408937.3

7372300.3

240

-79.5

173.012

140.0

Raja

Au and Co
results Apr 23
2019

PAL0177

3408434.0

7372388.0

240

-60

176.1

250.5

Rumajärvi

Au and Co
results May 13
2019

PAL0178

3408225.9

7372340.1

60

-75

177.064

237.2

Rumajärvi

Results awaited

PAL0179

3408105.5

7372350.5

60

-80

180.572

209.0

Rumajärvi

Au and Co
results May 13
2019

PAL0180

3408128.3

7372706.1

41

-61

173.634

778.65

Terry's Hammer

Results Awaited

PAL0181

3407954.6

7372245.0

150

-60

177.834

161.7

Rumajärvi

Au and Co
results May 13
2019

PAL0182

3407944.8

7372476.5

60

-70

176.8

439.65

Rumajärvi

Au and Co
results May 13
2019

PAL0183

3408094.0

7372422.1

160

-70

178.624

170.0

Rumajärvi

Au and Co
results May 13
2019

PAL0184

3407754.4

7372867.6

120

-50

173.07

211.8

Rumajärvi

Au and Co
results May 13
2019

PAL0185

3407900.4

7372519.6

60

-68

173.064

381.1

Rumajärvi

Results Awaited

PAL0186

3407905.2

7372446.2

55

-75

174.386

341.85

Rumajärvi

Results Awaited

PAL0187

3408547.0

7372492.4

47

-63.5

176.807

474

Raja

Results here

PAL0188

3408630.2

7372440.6

53

-63.5

176.974

379.4

Raja

Au and Co
results Apr 23
2019

PAL0189

3408768.8

7372378.8

48

-77

173.301

245.5

Raja

Au results Apr 23
2019
, Cobalt
here

VG

PAL0190

3408576.2

7372512.8

63

-65

177.732

427.9

Raja

Results here

PAL0191

3408547.0

7372492.4

44

-58.5

176.807

492.1

Raja

Results Awaited

VG

PAL0192

3408221.8

7373180.6

130

-60

171.892

203.2

Hut

Results Awaited

PAL0193

3408255.3

7373706.4

104

-53

173.478

427.15

South Palokas

Results Awaited

PAL0194

3408312.2

7373980.0

74

-57

173.8

497.8

Palokas

Results Awaited

VG

PAL0195

3408353.9

7373580.2

65

-77

174.918

245.6

South Palokas

Results Awaited

PAL0196

3408089.1

7373031.9

90.5

-60

172.308

317.4

Hut

Results Awaited

PAL0197

3408271.4

7373630.1

63

-66.5

173.603

466.8

South Palokas

Results Awaited

PAL0198

3408414.1

7373660.3

117

-70

174.417

296.2

South Palokas

Results Awaited

VG

PAL0199

3408126.6

7373140.2

215

-80

173.042

386.7

Hut

Results Awaited

PAL0200

3408312.2

7373979.0

62

-61.8

173.8

536.8

Palokas

Results Awaited

PAL0201

3408545.8

7372603.5

57

-67.25

179.162

281.0

Raja

Results Awaited

PAL0201D1

3408545.8

7372603.5

57

-67.25

179.162

195.0-392.2

Raja

Results Awaited

 

Table 2: Better intersections report from the 2019 Winter Drill Program.

Intersections are reported with a lower cut of 0.5g/t gold over 2 metre lower cut except where highlighted with **. No upper cut-off was applied.

Prospect

Hole_id

from

to

width

AuEq

Au

Co

Raja

PAL0159

419.0

437.0

18.0

1.4

0.5

547


including

419.0

420.2

1.2

0.8

0.2

378


including

422.0

426.0

4.0

2.5

0.3

1377

Raja

PAL0159

434.0

437.0

3.0

3.4

2.3

672

Raja

including

429.0

432.0

3.0

0.9

0.1

488

Raja

PAL0159

451.0

455.5

4.5

3.2

1.9

754

Raja

PAL0161

305.5

313.0

7.5

1.1

0.0

636

Raja

PAL0161

336.0

338.0

2.0

2.7

2.1

362

Raja

PAL0161

344.0

349.0

5.0

3.3

2.3

600

Raja

PAL0162

323.0

324.0

1.0

1.2

0.0

701

Raja

PAL0162

452.0

453.0

1.0

0.9

0.0

562

Raja

PAL0163

416.6

419.4

2.8

10.9

0.0

6604

Raja

PAL0164

406.0

414.3

8.3

1.3

0.4

519

Raja

PAL0164

418.4

419.7

1.3

0.9

0.0

546

Raja

PAL0166

55.3

56.3

1.0

0.6

0.1

355

Raja

PAL0166

67.8

68.8

1.0

1.0

0.0

568

Raja

PAL0166

76.6

77.6

1.0

1.1

0.1

596

Raja

PAL0166

79.3

80.3

1.0

1.6

0.0

958

Raja

PAL0169

522.3

524.4

2.1

0.7

0.1

368

Raja

PAL0171

299.0

300.1

1.1

0.9

0.0

528

Raja

PAL0172

120.0

122.0

2.0

0.9

0.0

541

Raja

PAL0172

329.0

332.0

3.0

1.0

0.0

573

South Palokas

PAL0173

232.8

233.7

0.8


0.5


South Palokas

PAL0173

264.0

281.0

17.0


3.4



including

264.0

269.0

5.0


4.9



including

276.1

281.0

4.9


4.6


South Palokas

PAL0173

380.0

381.1

1.1


0.8


South Palokas

PAL0173

384.8

385.8

1.0


2.0


Raja

PAL0176

14.0

15.6

1.6

2.5

2.4

58

Raja

PAL0176

20.5

31.9

11.4

1.4

0.8

382

Raja

PAL0176

33.8

35.7

1.9

1.2

1.0

105

Raja

PAL0176

49.0

52.0

3.0

4.0

3.8

86

Rumajärvi

PAL0179

6.0

10.7

4.7

1.9

1.0

578

Rumajärvi

PAL0179

37.0

38.0

1.0

0.6

0.1

311

Rumajärvi

PAL0179

39.0

40.0

1.0

1.0

0.0

592

Rumajärvi

PAL0179

48.0

51.0

3.0

0.6

0.0

344

Rumajärvi

PAL0179

73.8

76.3

2.5

0.6

0.1

342

Rumajärvi

PAL0182

86.3

93.7

7.4

4.4

3.4

597

Rumajärvi

PAL0183

54.3

55.1

0.8

1.6

0.4

728

Rumajärvi

PAL0183

112.3

114.2

1.9

0.7

0.1

364

Rumajärvi

PAL0183

142.5

143.1

0.6

2.8

2.2

340

Rumajärvi

PAL0184

117.6

118.6

1.0

1.7

1.3

206

Raja

PAL0187

400.4

401.8

1.4

2.3

0.1

1345

Raja

PAL0187

416.0

417.0

1.0

1.1

0.0

684

Raja

PAL0188

298.3

329.6

31.3

6.0

4.3

1030

Raja

PAL0188

298.3

315.6

17.4

4.8

2.9

1113

Raja

PAL0188

320.6

329.6

9.0

11.7

9.4

1412

Raja

PAL0188

337.9

338.9

1.0

3.1

3.1

35

Raja

PAL0189

157.0

162.0

5.0

0.7

0.1

344

Raja

PAL0189

165.0

165.8

0.8

1.3

1.1

143

Raja

PAL0189

182.9

186.0

3.2

4.6

4.5

11

Raja

PAL0189

194.0

195.0

1.0

1.2

1.1

90

Raja

PAL0189

200.0

205.0

5.0

3.7

2.7

581

Raja

PAL0189

210.0

214.3

4.3

3.8

2.3

931

Raja

PAL0189

228.6

222.6

4.0

1.1

0.3

506

Raja

PAL0190**

359.2

390.7

31.5

5.9

4.8

724


including

359.2

368.0

8.8

1.4

0.5

521


Including

371.0

390.7

19.7

8.9

7.4

908


 

Table 3: Individual assay data from key drill holes reported in this release.

hole_id

Prospect

from (m)

to (m)

width (m)

Au g/t

Co ppm

AUEQ g/t

PAL0187

Raja

400.4

401.1

0.7

0.1

1271

2.2

PAL0187

Raja

401.1

401.8

0.8

0.1

1408

2.4

PAL0187

Raja

416

417

1

0

684

1.1

PAL0189

Raja

157

158

1

0.3

330

0.8

PAL0189

Raja

158

159

1

0.1

374

0.7

PAL0189

Raja

159

160

1

<0.05

184

0.3

PAL0189

Raja

160

161

1

0.2

524

1.1

PAL0189

Raja

161

162

1

0.1

306

0.6

PAL0189

Raja

165

165.8

0.8

1.1

143

1.3

PAL0189

Raja

182.9

184

1.2

8.8

12

8.8

PAL0189

Raja

184

185

1

3.5

11

3.5

PAL0189

Raja

185

186

1

0.8

10

0.8

PAL0189

Raja

194

195

1

1.1

90

1.2

PAL0189

Raja

200

201

1

0.1

545

1.0

PAL0189

Raja

201

202

1

0.2

672

1.3

PAL0189

Raja

202

203

1

0.6

588

1.6

PAL0189

Raja

203

204

1

6

897

7.5

PAL0189

Raja

204

205

1

6.8

201

7.1

PAL0189

Raja

210

211

1

1.6

1043

3.3

PAL0189

Raja

211

212

1

0.1

1007

1.8

PAL0189

Raja

212

213.2

1.2

0.2

710

1.4

PAL0189

Raja

213.2

214.3

1.1

7.3

1003

8.9

PAL0189

Raja

218.6

219.6

1

0.1

421

0.8

PAL0189

Raja

219.6

220.6

1

0.2

1252

2.3

PAL0189

Raja

220.6

221.6

1

0.5

85

0.6

PAL0189

Raja

221.6

222.6

1

0.2

265

0.6

PAL0190

Raja

359.2

360.2

1

<0.05

328

0.5

PAL0190

Raja

360.2

361.2

1

0.06

1157

2.0

PAL0190

Raja

361.2

362.2

1

<0.05

168

0.3

PAL0190

Raja

362.2

363.2

1

<0.05

180

0.3

PAL0190

Raja

363.2

363.8

0.6

0.06

489

0.9

PAL0190

Raja

363.8

364.6

0.9

<0.05

176

0.3

PAL0190

Raja

364.6

365.2

0.6

<0.05

424

0.7

PAL0190

Raja

365.2

366.2

1

0.08

474

0.9

PAL0190

Raja

366.2

367

0.9

2.3

616

3.3

PAL0190

Raja

367

368

1

2.57

1110

4.4

PAL0190

Raja

371

372

1

1.33

755

2.6

PAL0190

Raja

372

373

1

0.12

30

0.2

PAL0190

Raja

373

374

1

0.95

227

1.3

PAL0190

Raja

374

375

1

3.97

1075

5.7

PAL0190

Raja

375

376

1

1.24

975

2.8

PAL0190

Raja

376

377

1

19.4

3434

25.0

PAL0190

Raja

377

378

1

20.3

1547

22.8

PAL0190

Raja

378

379

1

0.2

434

0.9

PAL0190

Raja

379

379.8

0.8

0.34

488

1.1

PAL0190

Raja

379.8

380.8

1

1.17

746

2.4

PAL0190

Raja

380.8

381.2

0.4

0.22

1575

2.8

PAL0190

Raja

381.2

382.8

1.6

2.58

1133

4.4

PAL0190

Raja

382.8

383.8

1

2.06

371

2.7

PAL0190

Raja

383.8

384.8

1

78.8

1195

80.8

PAL0190

Raja

384.8

385.8

1

8.52

1142

10.4

PAL0190

Raja

385.8

386.8

1

<0.05

93

0.2

PAL0190

Raja

386.8

387.8

1

2.06

1720

4.9

PAL0190

Raja

387.8

388.8

1

0.11

547

1.0

PAL0190

Raja

388.8

389.8

1

0.07

446

0.8

PAL0190

Raja

389.8

390.7

0.9

0.24

326

0.8

 

Cision View original content to download multimedia:http://www.prnewswire.com/news-releases/mawson-building-high-grade-core-at-the-raja-prospect-finland-300857244.html

SOURCE Mawson Resources Ltd.

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/May2019/28/c6189.html

www.mawsonresources.com, 1305 - 1090 West Georgia St., Vancouver, BC, V6E 3V7, Mariana Bermudez (Canada), Corporate Secretary, +1 (604) 685 9316, info@mawsonresources.comCopyright CNW Group 2019

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