Mawson Discovers Extensive New GOLD-Bearing Hydrothermal System at Rajapalot, Finland
1305 – 1090 West Georgia Street, Vancouver, BC, V6E 3V7
Phone: +1 604 685 9316 / Fax: +1 604 683 1585
NEWS RELEASE MARCH 06, 2017
MAWSON DISCOVERS EXTENSIVE NEW GOLD-BEARING HYDROTHERMAL SYSTEM AT
RAJAPALOT, FINLAND
Vancouver, Canada – Mawson Resources Limited (“Mawson”) or (the “Company”) (TSX:MAW)
(Frankfurt:MXR) (PINKSHEETS: MWSNF) announces drill results from a further four diamond drill holes from the 2016-
17 winter program at the Company’s 100% owned Rompas-Rajapalot Project in Northern Finland. This winter a total of 16
diamond holes have been completed to date, with two in progress for 3,753m. Three rigs are now drilling around the clock
and a fourth rig will be mobilized to site during mid-March.
Key Points:
➢ A new style of gold-bearing system has been discovered at South Rajapalot, characterised by an extensive area of
potassic-iron-sulphide alteration located up to 1,800m south of the Palokas prospect . Drilling has defined a zone
that extends for 900m along strike and 400m in width that remains open. To date, a total of 12 holes have been
drilled into the area, with assay results available from 2 drill holes (PAL0033 and PAL0037).
➢ PAL0037 drilled 56m of gold-bearing magnetite, pyrrhotite, biotite and chlorite alteration from 5.0m
that averaged 0.53 g/t gold (without applying a lower cut). Higher grade zones included 2.0m @ 3.6 g/t gold
from 33.0m and 4.0m @ 3.7 g/t gold from 57m;
➢ PAL0037 intersected what is believed to be , in part, the source of 68 grab samples from boulders and subcrops
that lie immediately down ice direction which assayed >0.1 g/t gold and range from 0.11 g/t gold to 3,870 g/t
gold with an average of 101.4 g/t gold and median of 0.6 g/t gold. Grab samples are selected samples
and are not necessarily representative of the mineralization hosted on the property.
➢ PAL0033, drilled 700m north of PAL0037, intersected a similar style of potassic-iron-sulphide alteration with results
including 2.2m @ 7.7 g/t gold from 152.5m;
Drill core from this new discovery will be on display at the PDAC convention in Toronto at Mawson’s booth #2941 from
Sunday 5 March to Wednesday 8 March. Dr. Nick Cook, President, will be at the core display booth #3107B on Tuesday 7
and Wednesday 8 March. CEO Michael Hudson will discuss the drilling program and the new discovery at 10:20am on
Monday 6 March in Room 802.
Mr. Hudson, Chairman and CEO, states, " This new style of potassic-iron-sulphide alteration gold-bearing hydrother mal
system at South Rajapalot is clearly large, and capable of precipitating gold in a variety of structural and stratigraphic
settings across a broad area. Drilling is ongoing and many drill holes that are altered remain to be assayed. The potential
of the area continues to grow, we have already drilled gold within a 1.75km strike length from Palokas to South Rajapalot
during this early stage of our winter program and we look forward to learning more as further results become available.”
Gold-anomalous alteration has been drilled to date over a 900m x 400m area in South Rajapalot. It consists of sulphide,
magnetite and biotite hydrothermal alteration hosted in predominately grey albitites. Textures range from veined albitic
granofels through fractured to locally schistose. Veining and fracture fill includes magnetite, pyrrhotite and magnetite -
pyrrhotite (+/- quartz). Local retrograde chlorite after biotite and vein -controlled chlorite and magnetite are al so present.
Preliminary hand-held XRF analysis confirms the presence of scheelite and molybdenite, the former visible under UV light
as tiny veinlets and disseminations. The alteration style is best described as a hydrothermal potassic-iron-sulphidic type, is
clearly post -metamorphic, and most likely driven by granitoid intrusions. Altered rocks below the mineralized package
contain locally abundant talc and tourmaline. 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. Chlorite is regarded as the lowest temperature
silicate mineral with gold, apparently controlled by quartz veins. Marginal to mineralization, talc and tourmaline rocks are
present throughout.
Two additional drill holes, PAL0031 (1.0m @ 1.5 g/t gold from 85.4m) and PAL0032 (no significant results) were drilled
50m and 270m respectively to the north of Palokas (Figure 1). These results are above higher grade results, and support
the concept that the Palokas mineralized body is a plunging shoot as defined by earlier drill results that included 10.0m @
11.6 g/t gold (Mawson Press Release Feb 21, 2017). The alteration system at Palokas is different to the new brittle and
veined potassic-iron-sulphide alteration discovery at South Rajapalot. Mineralization at Palokas is hosted by a greater than
20m thick, magnesium - and iron-enriched, pyrrhotite -bearing isoclinally folded metasedimentary sequence that is sub -
planar at the prospect scale. Although the host rocks are isoclinally folded and metamorphosed to amphibolite facies, the
mineralization appears controlled by a series of late brittle structures, represented in drill core by quartz and quartz -
pyrrhotite-tourmaline (+/- molybdenite, gold) veins. Retrograde alteration of the host package to chlorite is one of the
dominant characters of the margins of quartz veins. Reaction of reduced gold-bearing hydrothermal fluids with iron-rich
rocks is the most likely mechanism to precipitate the gold.
A plan views of the drill results is shown in Figures 1. Tables 1 and 2 include all relevant collar and assay information. The
true thickness of mineralized intervals is interpreted to be approximately 90% of the sampled thickness.
Technical and Environmental Background
Two diamond drill rigs (K1 & K2) from the Arctic Drilling Company OY (ADC) with water recirculation and drill cuttings collection systems
were used for the drill program. Core diameter is NQ2 (50.6 mm) diameter core. Core recoveries were excellent and average close to
100% in fresh rock. After photographing and logging in Mawson ’s Rovaniemi facilities , core intervals averaging 1m in length for
mineralized samples and 2m for barren samples were cut in half at the Geological Survey of Finland (GTK) core f acilities 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 Oyfacility in Kempele, Finland. Samples were prepared at Kempele and
analyzed for gold at Raahe using the PAL1000 technique which involves grinding the sample in steel pots with abrasive media i n the
presence of cyanide, followed by measuring the gold in solution with flame AAS equipment. The QA/QC program of Mawson consists of
the systematic insertion of certified standards of k nown gold content, duplicate samples by quartering the core , and blanks the within
interpreted mineralized rock. In addition, CRS inserts blanks and standards into the analytical process.
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 distin guished 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.
Table 1: Collar Information from 2017 Winter drilling at the Palokas Prospect
HoleID East North Azimuth Dip RL Depth
(m)
Comment
PAL0027 3408668 7373860 116 60 174.6 301.6 Feb 21, 2017
PAL0028 3408724 7373889 116 60 174.9 92.3 Feb 21, 2017
PAL0029 3408630 7373988 116 60 174.9 209.3 Feb 21, 2017
PAL0030 3408608 7373943 116 60 174.1 194.8 Feb 21, 2017
PAL0031 3408702 7373953 116 60 174.3 131 Reported here
PAL0032 3408795 7374090 135 60 175.7 174.2 Reported here
PAL0033 3408135 7373137 150 60 175.1 215.8 Reported here
PAL0034 3408157 7373078 150 60 176.5 142.55 Results Awaited
PAL0035 3408095 7372899 135 60 175.6 191.9 Results Awaited
PAL0036 3408122 7372856 135 60 175.4 115.05 Results Awaited
PAL0037 3408008 7372395 116 60 177.4 245.3 Reported here
PAL0038 3407903 7372442 116 60 177 246.9 Results Awaited
PAL0039 3408010 7372472 116 50 176.7 300.5 Results Awaited
PAL0040 3407938 7372359 116 50 177.097 250 Results Awaited
PAL0041 3407936 7372539 116 50 174.365 250 Results Awaited
PAL0042 3407841 7372408 116 50 172.836 250 Results Awaited
PAL0043 3407843 7372798 116 60 175.653 235 In progress
PAL0044 3407650 7372418 90 50 172.85 265 In progress
Table 2: Better intersections from the 2017 Winter Drill Program reported 0.5g/t Au over 1m lower cut, no upper cut-off
Hole ID Depth
From (m)
Depth To
(m)
Width (m) Au g/t Date Reported
PAL0027 27.46 31.01 3.60 2.5 Feb 21, 2017
PAL0027 34.41 41.21 6.80 14.7 Feb 21, 2017
PAL0027 44.20 47.20 3.00 3.2 Feb 21, 2017
PAL0028 21.70 22.70 1.00 0.8 Feb 21, 2017
PAL0028 37.60 39.25 1.65 3.9 Feb 21, 2017
PAL0029 95.65 96.65 1.00 0.7 Feb 21, 2017
PAL0030 110.20 120.20 10.00 11.6 Feb 21, 2017
PAL0030 135.70 138.60 2.90 1.0 Feb 21, 2017
PAL0030 143.85 146.85 3.00 5.3 Feb 21, 2017
PAL0031 85.4 86.4 1 1.5 This release
PAL0032 No significant results
PAL0033 152.5 154.7 2.2 7.7 This release
PAL0037 33 35 2 3.6 This release
PAL0037 57 61 4 3.7 This release
Rajapalot, drill hole locations, ground magnetics and VTEM Maxwell
Plates
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
Area of new discovery of potassic-iron-sulphide alteration.