Mawson Commences 105 LINE Km Ground Magnetic Survey at Rajapalot, Finland
1305 – 1090 West Georgia Street, Vancouver, BC, V6E 3V7
Phone: +1 604 685 9316 / Fax: +1 604 683 1585
NEWS RELEASE APRIL 24, 2017
MAWSON COMMENCES 105 LINE KM GROUND MAGNETIC SURVEY AT RAJAPALOT, FINLAND
Vancouver, Canada – Mawson Resources Limited (“Mawson”) or (the “Company”) (TSX:MAW)
(Frankfurt:MXR) (PINKSHEETS: MWSNF) announces mobilization of a geophysic al survey contractor to extend the
ground magnetic data coverage at the Company’s 100% owned Rajapalot Project in Northern Finland. Two diamond drill
rigs continue to operate on site 24/7.
Key Points:
➢ Given the success of the winter diamond drilling program at Rajapalot, which discovered gold mineralization well
beyond the current limits of geophysical coverage, Mawson has mobilized a geophysical crew to extend gr ound
magnetic acquisition;
➢ A total of 105 line km of ground magnetics at 50 metre spacing is planned to be collected over the next two weeks;
Mr. Huds on, Chairman and CEO, states, " Our winter drilling program has significantly expanded the foot print of gold
mineralization at Rajapalot, well beyond the area where we have detailed ground geophysical data. Owing to the association
of pyrrhotite and magnetite with gold mineralization, ground magnetics is a valuable tool to map gold-bearing host rocks
at Rajapalot under the thin glacial soil that covers 99% of the prospect area . While winter conditions persist, we have
moved quickly to mobilize a geophysical team to site.”
The planned ground magnetic survey will cover the newly discovered area of potassic-iron-sulphide alteration described in
Mawson Press Release March 06, 2017 at South Rajapalot. Line spacing for the new survey will be 50 metre at Rajapalot,
and 10 metre infill at Palokas. To date, drilling has defined a zone that extends for 1,200m along strike and 400m in width
that remains open. Further mineralization of the same style was reported in News Release April 06 2017 and included
PAL0048 (6.0 metres @ 2.0 g/t gold from 53 metres and 13.7 metres @ 2.0 g/t gold from 82 me tres), PAL0043
(12.0 metres @ 1.2 g/t gold from 10.6 metres), and PAL0040 ( 5.0 metres @ 1.2 g/t gold from 37.3 metres). The
true thickness of the mineralized interval is interpreted to be approximately 90% of the sampled thickness .
Mineralization consists of sulphide, magnetite, biotite and chlorite hydrothermal mineral assemblages hosted in
predominately grey albitites. Textures range from veined albitic granofels through fractured and brecciated to locally
schistose. Veining and fracture fill min erals include magnetite, pyrrhotite and magnetite -pyrrhotite (+/ - quartz). Local
retrograde chlorite after biotite and vein-controlled chlorite+/- tourmaline and magnetite are also present. Preliminary hand-
held XRF analysis confirms the presence of associ ated scheelite and molybdenite, the former visible under UV light as tiny
veinlets and disseminations. The iron-rich nature of the mineralized rocks is a common theme in either the oxide or sulphide
form, with a variably sulphidic and chloritic overprint. The alteration is clearly post-metamorphic, reduced, and most likely
driven by granitoid intrusions. Chlorite is regarded as the lowest temperature silicate mineral with gold, structurally
controlled in apparent association with quartz veins. Altered rock s enclosing the mineralized package contain locally
abundant talc and tourmaline. Figure 1 shows the area in which the ground magnetic survey is being conducted along with
the updated location of diamond drill holes.
In other news, two diamond drill rigs remain at site as winter conditions persist for a few weeks longer than expected. 53
holes (PAL0027-PAL0077, PAL0079, PAL0080) have been completed to date, totaling 10,250 metres of diamond drill core.
A total of 19 holes have been reported, while results are pending for an additional 34 completed holes. A further 3 diamond
drill holes are planned to be drilled before the completion of the winter program.
Technical and Environmental Background
The ground magnetic survey is being conducted by two personnel from GeoVista AB (based in Luleå, Sweden). Measurements are on a
fifty metre line spacing conducted either in E-W or NW-SE line orientations and are locally infilled to closer spacing where required by
geological complexity. Levelling and post-collection processing are completed by Dr Hans Thunehed of GeoVista AB.
The qualified person for Mawson's Finnish projects, Dr. Nick Cook, President for Mawson and Fellow of the Australasian Institute of Mining
Metallurgy has reviewed and verified the contents of this release.
About Mawson Resources Limited (TSX:MAW, FRANKFURT:MXR, PINKSHEETS:MWSNF)
Mawson Resources Limited is an exploration and development company. Mawson has distinguished itself as a leading Nordic Arctic
exploration company with a focus on the flagship Rompas and Rajapalot gold projects in Finland.
On behalf of the Board,
"Michael Hudson"
Michael Hudson, Chairman & CEO
Further Information
www.mawsonresources.com
1305 – 1090 West Georgia St., Vancouver, BC, V6E 3V7
Mariana Bermudez (Canada), Corporate Secretary, +1 (604) 685 9316,
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 d rill 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.
Rajapalot, drill hole locations, ground magnetics (TMI) and VTEM
Maxwell Plates. Black outline shows areas of 50m spaced ground
mag at Rajapalot and 10m infill lines at Palokas.
Palokas
5.4m @ 37.6 g/t Au from 2.5m
8.3m @ 6.0 g/t Au from 2.0m
9.0m @ 11.2 g/t Au from 0m
19.3m @ 7.4 g/t Au from 1.3m
19.6m @ 7.5 g/t Au from 18.1m
19.0m @ 5.3 g/t Au from 38.7m
South Rajapalot
PAL0033: 2.2m @ 7.7 g/t Au from 152.5m
PAL0037: 4.0m @ 3.7 g/t Au from 57.0m
PAL0040: 5.0m @ 1.2 g/t gold from 37.3 metres;
PAL0048
6.0m @ 2.0 g/t Au from 53m and
13.7m @ 2.0 g/t Au from 82m or
42.7m @ 1.0 g/t Au from 53.0m
PAL0043
12.0m @ 1.2 g/t Au from 10.6 metres