Tuesday, 21 May 2013

Mawson Resources gearing up for new exploration season in Finland

Mawson Resources (TSE: MAW) has gained even more evidence of the potential of its Rompas high grade gold project in Finland, according to the project update for the company’s flagship property released Tuesday.
Mawson, a Vancouver-based resource acquisition and development company with precious and base metal interests in Finland and Sweden, reported the finding in its compilation and assessment of results from the 2013 winter program for the Rompas high-grade, greenfield gold project located in northern Finland.
Further surface discoveries of multiple high-grade gold anomalies have heightened expectations of the Rompas' district, with one such discovery, Rajapalot, having expanded the project to more than 100 km2. A total of 58 new gold anomalous target areas have been marked for follow up during the summer field season. 
To that end a team of ten Finnish geologists is to be sent to the project area in early June to pursue an intensive field season. These efforts are likely to be greatly assisted by the LIDAR airborne survey completed in 2012 which provides the field geologists more accurate data than that available previously, thus allowing for more rapid data collection than was possible before, ensuring that outcrops that would have once taken weeks to locate and then map in the years before completion of the survey can instead be identified and mapped in days.
Soil sampling carried out on non-selective, heavy mineral soil from the region of South Rompas turned up one of the largest accumulations of gold nuggets ever identified within a heavy mineral sample collected in the region (specifically within the Fennoscandian Shield), with a sample of 5 litres offering 5,000 gold nuggets. Further such heavy mineral sampling is planned on a larger scale in light of the success of this technique.
Shallow drilling and trenching from South Rompas has identified a mineralized trend such that 24 per cent of all trench and drill assays grade greater than 100 grams per tonne (g/t) gold.
In addition, a new electromagnetic ground survey has defined a subsurface 30 metre wide by 300 metre long conductor coincident with and immediately below the widest zone of continuous gold mineralization found at the project to date. This anomaly is part of a larger 2,500 m long conductor defined by airborne geophysics.
The company’s sample database for the project contains 1,171 samples which average 212 g/t of gold with 84 samples assay better than 100 g/t gold.
"We continue to build our business in the Nordic countries around Rompas, a project we consider to be potentially one of the world's most exciting district scale gold discoveries, hosting high-grade, near surface native gold mineralization, across multiple prospects over a large area of 100 km2,” said president and CEO Michael Hudson.
“We will maintain our exploration momentum and focus on shareholder interests by continuing to control overheads and investing their capital in the ground. We have confidence in our people and our projects to expand our business via exploration success."
Shares in the company were trading up on the TSX on the day of the project update’s release, rising from an open of 55 cents per share to hit 60 cents, a hike of over nine per cent.

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