Mawson Resources' (TSE:MAW) Rompas gold-uranium project is now at the centre of exploration efforts after the company successfully spun-out its South American assets into Darwin Resources (CVE:DAR).
Mawson is a resource acquisition and
development company with precious and base metal interests in Finland
and Sweden. Its flagship property is the Rompas gold project in Finland,
with sample assays up to 33,200 ppm gold and 56.6% uranium oxide.
Rompas was discovered by French nuclear giant AREVA in 2008 and
purchased by Mawson in April 2010.
The company, whose management
has a combined in excess of 100 years of experience, has been active in
Scandinavia for well over a decade. It even maintains propertyfield
bases in the Swedish town of Malå, where many of the region's core
samples are stored and processed and in Lohijarvi in Northern Finland.
to Proactive Investors, Mawson's president & CEO Michael Hudson
described Rompas as "an extremely exciting, early-stage property".
Hudson is an experienced geologist with 22 years' experience under his
Recently, Mawson spun-off a portfolio of early stage
copper-gold Peruvian assets, which include the Alto Quemado, Huatiapa,
Carrizales, Vicunas and Luminaria projects to Darwin Resources allowing
Mawson to focus on the development of its flagship Rompas gold property
Darwin is being run by Dr. Graham Carman, who has
extensive experience in Peru and under whom Mawson's Hudson had
Mawson's Hudson characterized Rompas as a
"hands-down" gold asset with a potential uranium by-product. The
presence of gold and uranium is geologically not so common but does
occur in a few places around the world, he added. Mawson has now
drilled 38 drill holes for 3,850 metres at Rompas.
"We have had
up to two rigs drilling and are back to one now as winter is ending.
Initially we planned to drill 3,000 metres and have now extended the
program to 4,000 metres. It is very early days in testing the large 6
kilometre trend at Rompas. We have identified gold visually and now it
comes down to assays and further drilling."
Mawson is currently
awaiting a claims process, which may be granted in the third quarter,
that would give the company 30 percent access to the property and it is
likely to take "at the very minimum" until early next year to gain 100
The company holds 833 claims and claim
applications for 75,340 hectares at the Rompas Project. A total of 110
exploration claims that cover a surface area of 10,580 hectares and form
the core claims at Rompas were granted on October 31, 2010 but do not
come into legal force until after a standard appeal process.
Although, Rompas is Mawson's primary goal, the company is also mulling adding to its assets in the near future.
have cleaned the slate and Rompas is very much in focus but now we have
the opportunity to leverage off our Scandinavian experience and expert
team to bring new properties into Mawson which we are already doing."
terms of an outlook for gold prices, Hudson commented: "The big
underlying question is what happens with Europe and the U.S.? A bit of
uncertainty is good for gold; and in the long term gold is a safe haven
against FIAT currency uncertainty.
"In the medium- to long-term,
gold at $1,500 an ounce is fantastic. It's a good price if you've got
the tier 1 grades that we're starting to see at Rompas."