Mawson Mobilizes Second Rig to Rompas in Finland
Vancouver, Canada -- Mawson Resources Limited ("Mawson") TSX -- MAW; Frankfurt -- MRY. Mr Michael Hudson, President & CEO, announces that a second diamond drill rig has been mobilized to the Rompas gold project in Northern Finland, in order to complete a 3,000 metre drill program before spring breakup.
As previously reported, Mawson is operating under an agreement with landholders that permits the Company to access and drill on private land that covers more than 500 metres of strike potential in two areas at South Rompas. The southern area (18.9 hectares) includes a 280 metre trend of the southern extensions of the known mineralized zone. The northern area (24.8 hectares) provides access to 240 metre strike in the central zone of South Rompas. The agreement has been made according to the Finnish Mining Act which allows for private agreements to be reached between explorers and landholders. Mawson is specifically drilling for and targeting gold. To date, 11 drill holes for 1,193.75 metres have been completed. Eight holes have been completed in the southern area, with 3 holes in the northern area.
The rocks drilled to date are predominately biotite bearing calc-silicates which vary from biotite-tremolite schists to more massive tremolite-carbonate rocks. Common carbonate-actinolite veins with minor quartz and biotite selvedges variably cut the host rock. Visible gold has been noted within centimetre wide zones within 6 of the 11 holes drilled to date.
Mr Hudson states: "Drilling is progressing as planned and we are glad to accelerate the program with the addition of a second drill rig. We are encouraged by the amount of hydrothermal carbonate veining within the host rocks, however geochemical assays are awaited and are expected to be available in Q2 2012."
Drill core will be prepared and analyzed by ALS Chemex Ltd's laboratories in Pitea, Sweden and Vancouver, Canada, where duplicates, repeats, blanks and known standards have been inserted according to standard industry practice. The qualified person for Mawson's Finnish projects, Mr. Terry Lees, VP Exploration for Mawson and Fellow of the Australian Institute of Geoscientists has reviewed and verified the contents of this release.
In other news, on April 5, 2012, the Company received the Final Order from the Supreme Court of British Columbia (the "Court") approving the previously announced plan of arrangement involving the Company, its shareholders and Darwin Resources Corp. (the "Arrangement"). In the Final Order, the Court determined that the Arrangement is procedurally and substantially fair and reasonable to the security holders of the Company, pursuant to section 291(4)(c) of the Business Corporations Act (British Columbia), and approved the issuances, exchanges and adjustments of securities as contemplated in the Arrangement.
About Mawson Resources Limited (TSX:MAW, FRANKFURT:MRY, PINKSHEETS:MWSNF)
Mawson Resources Limited is a resource acquisition and development company. The Company has distinguished itself as a leading Scandinavian exploration company with a focus on the flagship Rompas gold project in Finland.
On behalf of the Board,
Michael Hudson, President & CEO
1305 -- 1090 West Georgia St., Vancouver, BC, V6E 3V7
Company Contact: Mariana Bermudez +1 (604) 685 9316
Seema Sindwani (Institutional IR) +1 647-478-3017
Nick Nicolaas (Retail IR) +1 (604) 657 4058
Forward Looking Statements. The statements included herein, other than statements of historical fact, including, without limitation, statements regarding the Arrangement and the Reorganization, are forward-looking statements. These statements address future events and conditions and so involve inherent risks and uncertainties, as disclosed under the heading "Risk Factors" in the company's periodic filings with Canadian securities regulators. Actual results could differ from those currently projected. The Company does not assume the obligation to update any forward-looking statement except as required by law.