Mawson Drills 8.8 Metres at 7.5 G/T GOLD at Rajapalot, Finland
1305 – 1090 West Georgia Street, Vancouver, BC, V6E 3V7
Phone: +1 604 685 9316 / Fax: +1 604 683 1585
NEWS RELEASE May 02, 2017
MAWSON DRILLS 8.8 METRES AT 7.5 g/t GOLD AT RAJAPALOT, FINLAND
Vancouver, Canada – Mawson Resources Limited (“Mawson”) or (the “Company”) (TSX:MAW)
(Frankfurt:MXR) (PINKSHEETS: MWSNF) announces drill results from ten additional diamond drill holes from the 2017
winter program at the Company’s 100% owned Rajapalot Project in N orthern Finland. A new zone of gold mineralization
has been discovered at shallow depth at the Raja prospect, with a strike length of at least 200 metres, and remains open.
The Raja prospect is located 1.75 kilometres from Palokas, and is the easternmost prospect tested to date in the Rajapalot
area.
Key Points:
➢ PAL0075 intersected:
➢ 27.0 metres @ 3.3 g/t gold (no lower cut) from 64.0 metres, including 3.0 metres @ 2.9 g/t gold from
64 metres, 2.0 metres @ 5.6 g/t gold from 70.0 metres and 8.8 metres @ 7.5 g/t gold from 82.2
metres;
➢ PAL0062 drilled 200 metres north of PAL0075 intersected:
➢ 13.5 metres @ 4.0 ppm gold from 180 metres;
Mr. Hudson, Chairman and CEO, states, "A blind discovery of this grade and thickness made in multiple drill holes, 1.75
kilometres from Palokas is a significant result for the Rajapalot project. By applying our understanding on the controls on
mineralization, we are now successfully intersecting multiple high-grade gold mineralized zones under the thin glacial soil
cover. This first systematic season of drill testing has proven the scale of the system, and is defining a wide range of
exciting targets. With approximately 50% of assays still to come from the winter program, we look forward to substantial
further news flow.”
A plan view of the drill results is provided in Figures 1 and 2 while a cross section of the Raja area is provided in Figure 3.
Tables 1, 2 and 3 include all relevant collar and assay information. The winter drilling program is now complete, with 55
holes (PAL0027-PAL0082) totaling 11,056 metres of diamond drill core. With this release, assay results from 28 holes have
been reported, while results are pending for an additional 26 holes.
PAL0075 (3.9 metres @ 1.3 g/t gold from 30.6 metres, 27.0 metres @ 3.3 g/t gold (no lower cut) from 64.0 metres,
including 3.0 metres @ 2.9 g/t gold from 64 metres, 2.0 metres @ 5.6 g/t gold from 70.0 metres and 8.8 metres @ 7.5
g/t gold from 82.2 metres) displayed fine visible gold in schistose muscovite-quartz-pyrrhotite alteration at 83.5 metres
and 90.8 metres (Photo 1). The hole was drilled in an opposite direction to PAL0048 (42.7 metres @ 1.0 g/t gold from
53.0 metres (Mawson News Release April 06, 2017)) to test for continuity and thickness of the gold mineralization.
Together with PAL0062 (13.5 m @ 4.0 ppm gold from 180 metres), drilled 200 metres down plunge, a lobate or cigar
shaped mineralized body has been broadly defined, that is at least 200 metres long and approximately 50 metres wide.
Mineralization appears to be structurally controlled, and is hosted by a variably silicified and brecciated grey to pink and
red albitite to foliated quartz-muscovite-biotite-pyrrhotite schist. Quartz with minor tourmaline, pyrrhotite and
chalcopyrite forms veins and the matrix of breccias apparently synchronous with silicification within the mineralized rocks
(for example, from 72 to 77 metres in PAL0075). Sulphide, quartz, muscovite and biotite are dominant in the
mineralized rocks, with subordinate magnetite, tourmaline, scheelite, chlorite and calcite. Pyrrhotite predominates over
pyrite with subordinate chalcopyrite noted where grades exceed 0.5 g/t Au. Pyrite becomes the dominant sulphide in
lower grade intersections, and typically forms a halo around the pyrrhotite-bearing rocks. The host albitites, where
oxidized (pale pink to red), contain <0.1 g/t Au and appear overprinted by the sulphide-gold event. All textures associated
with gold mineralization overprint the metamorphic minerals and rock fabrics and are indicative of widespread
hydrothermal fluid movement. Host rock compositional controls appear the key to formation of the best gold intersections
in the Rajapalot project.
Assay results from d rill holes PAL0042, 47, 51, 52, 53, 58, 63 and 66 were also received. Although most of these holes
show consistent hydrothermal alteration, only minor or no significant gold mineralization was return ed. Owing to the
complex three dimensional structural controls and brecciation, combined with the stratabound nature of the albitic host
rock, the true thickness of the mineralized interval is, at this stage, unknown.
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 results reported here. 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 1 metre for
mineralized samples and 2 m for barren samples were cut in half at the Geological Survey of Finland (GTK ) core facilities 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 Oy facility 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. Interlaboratory comparisons are also conducted by Mawson, using fire assay techniques. 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 an d 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 drill 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.
Photo 1: Visible gold in quartz-muscovite-biotite-pyrrhotite schist at 90.8 metres in drill hole PAL0075. Field of view approximately 3cm x 2cm.
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
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
Raja Prospect
See Figure 2
PAL0075
27.0m @ 3.3 g/t Au from 64m
includes 8.8m @ 7.5 g/t Au
PAL0062
13.5 m @ 4.0 ppm Au from 180m
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
PAL0075
27.0m @ 3.3 g/t Au from 64m includes 8.8m @ 7.5 g/t Au
PAL0023
3.0 m @ 2.1 g/t gold from 84.4m
PAL0062
13.5 m @ 4.0 ppm Au from 180m
Section N7372045
shown in Figure 3
A
B
Figure 2
Raja Prospect, drill hole locations, ground magnetics
Figure 3. Section N7372045 showing new results from Raja Prospect
Quartzite
OPEN
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
PAL0075
27.0m @ 3.3 g/t Au from 64m includes 8.8m @ 7.5 g/t Au
PAL0023
3.0 m @ 2.1 g/t gold from 84.4m
(40m east of section)
PAL0062
13.5 m @ 4.0 ppm Au from 180m
Mineralization: Silicified and brecciated albitite to foliated quartz-muscovite-biotite-pyrrhotite schist
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 60 174.9 197.3 Feb 21, 2017
PAL0030 3408608 7373943 116 60 174.1 194.8 Feb 21, 2017
PAL0031 3408702 7373953 116 60 174.3 131.0 Mar 06, 2017
PAL0032 3408795 7374090 135 60 175.7 174.2 Mar 06, 2017
PAL0033 3408135 7373137 150 60 175.1 215.8 Mar 06, 2017
PAL0034 3408157 7373078 150 60 176.5 142.6 April 06, 2017
PAL0035 3408095 7372899 135 60 175.6 191.9 April 06, 2017
PAL0036 3408122 7372856 135 60 175.4 115.1 April 06, 2017
PAL0037 3408008 7372395 116 60 177.4 244.3 Mar 06, 2017
PAL0038 3407903 7372442 116 60 177 300.5 April 06, 2017
PAL0039 3408010 7372472 116 50 176.7 247.8 April 06, 2017
PAL0040 3407938 7372359 116 50 177.1 200.0 April 06, 2017
PAL0041 3407936 7372539 116 50 174.4 341.4 April 06, 2017
PAL0042 3407841 7372408 116 50 172.8 257.0 Reported here
PAL0043 3407843 7372798 116 60 175.7 339.0 April 06, 2017
PAL0044 3407650 7372418 90 50 172.9 250.6 Results Awaited
PAL0045 3407533 7372698 50 116 173.4 351.9 April 06, 2017
PAL0046 3408153 7372322 60 135 179.4 108.0 April 06, 2017
PAL0047 3410582 7373349 50 150 161.4 100.3 Reported here
PAL0048 3408815 7372269 49 90 173.0 188.0 April 06, 2017
PAL0049 3408269 7372635 69 180 176.6 254.9 Results Awaited
PAL0050 3410618 7373308 50 150 161.1 103.5 Results Awaited
PAL0051 3408810 7372200 50 90 173.2 153.8 Reported here
PAL0052 3410568 7373393 48 152 161.1 100.2 Reported here
PAL0053 3408283 7372532 60 180 176.9 257.7 Reported here
PAL0054 3410651 7373254 51 150 163.3 154.5 Results Awaited
PAL0055 3408380 7372320 51 150 176.4 190.7 Results Awaited
PAL0056 3408708 7372201 50 90 174.2 268.1 Results Awaited
PAL0057 3410688 7373202 50 150 165.6 147.0 Results Awaited
PAL0058 3408712 7372254 50 90 174.1 258.2 Reported here
PAL0059 3408092 7372458 60 150 178.0 157.0 Results Awaited
PAL0060 3410986 7371862 50 70 138.0 153.0 Results Awaited
PAL0061 3409769 7372753 60 150 161.1 259.7 Results Awaited
PAL0062 3408753 7372465 60 155 176.5 237.0 Reported here
PAL0063 3407948 7372718 60 116 174.0 173.9 Reported here
PAL0064 3411066 7371882 50 70 138.8 120 Results Awaited
PAL0065 3410952 7371899 50 70 138.0 97.5 Results Awaited
PAL0066 3408970 7372540 60 160 174.3 252.2 Reported here
PAL0067 3410020 7373122 60 135 162.3 203.0 Results Awaited
PAL0068 3409009 7372420 60 160 172.5 255.7 Results Awaited
PAL0069 3408447 7373350 60 116 172.0 85.7 Results Awaited
PAL0070 3410239 7372124 50 145 139.0 103.5 Results Awaited
PAL0071 3408573 7372279 50 150 175.8 152.6 Results Awaited
PAL0072 3410286 7372059 50 145 139.3 121.5 Results Awaited
PAL0073 3408965 7374398 50 170 176.2 445.8 Results Awaited
PAL0074 3408408 7373282 60 116 171.9 142.1 Results Awaited
PAL0075 3408931 7372244 50 290 172.7 178.1 Reported here
PAL0076 3409032 7372291 50 175 170.1 254.4 Results Awaited
PAL0077 3408308 7373331 60 116 172.0 25.3 Hole abandoned
PAL0078 3408307 7373332 60 116 172.0 236.8 Results Awaited
PAL0079 3409672 7373284 50 300 172.9 206.0 Results Awaited
PAL0080 3409416 7374396 50 160 178.7 161.5 Results Awaited
PAL0081 3409463 7374241 60 160 176.8 167.1 Results Awaited
PAL0082 3408302 7373424 60 116 173.9 292.4 Results Awaited
Table 2: Better intersections from the 2017 Winter Drill Program reported. 0.5g/t Au over 1m lower cut (unless stated), no upper cut-off
*0.5g/t Au over 2m lower cut in PAL0043. True thickness
+Owing to the complex three dimensional structural controls and brecciation, combined with the stratabound nature of the albitic host rock, the true
thickness of the mineralized interval is, at this stage, unknown for PAL0048, PAL0062 and PLA0075.
Hole ID Depth
From (m)
Depth To
(m)
Width (m) Au g/t Date Reported
PAL0027 27.46 31.01 3.6 2.5 Feb 21, 2017
PAL0027 34.41 41.21 6.8 14.7 Feb 21, 2017
PAL0027 44.20 47.20 3.0 3.2 Feb 21, 2017
PAL0028 21.70 22.70 1.0 0.8 Feb 21, 2017
PAL0028 37.60 39.25 1.7 3.9 Feb 21, 2017
PAL0029 95.65 96.65 1.0 0.7 Feb 21, 2017
PAL0030 110.20 120.20 10.0 11.6 Feb 21, 2017
PAL0030 135.70 138.60 2.9 1.0 Feb 21, 2017
PAL0030 143.85 146.85 3.0 5.3 Feb 21, 2017
PAL0031 85.4 86.4 1.0 1.5 Mar 06, 2017
PAL0032 No significant results Mar 06, 2017
PAL0033 152.5 154.7 2.2 7.7 Mar 06, 2017
PAL0034 No significant results April 06, 2017
PAL0035 No significant results April 06, 2017
PAL0036 No significant results April 06, 2017
PAL0037 33.0 35.0 2.0 3.6 Mar 06, 2017
PAL0038 No significant results April 06, 2017
PAL0039 112.8 113.1 0.4 2.9 April 06, 2017
PAL0040 37.3 42.3 5.0 1.2 April 06, 2017
PAL0041 179.0 180.0 1.0 1.3 April 06, 2017
PAL0041 242.6 243.6 1.0 1.2 April 06, 2017
PAL0042 No significant results Reported here
PAL0043* 10.6 22.6 12.0 1.2 April 06, 2017
PAL0045 No significant results April 06, 2017
PAL0046 No significant results April 06, 2017
PAL0047 No significant results Reported here
PAL0048+ 53.0 59.0 6.0 2.0 April 06, 2017
PAL0048+ 82.0 95.7 13.7 2.0 April 06, 2017
PAL0048 53.0 95.7 42.7 1.0 April 06, 2017 (No lower cut)
PAL0051 99.0 100.0 1.0 1.4 Reported here
PAL0052 No significant results Reported here
PAL0053 65.7 66.7 1.0 0.5 Reported here
PAL0053 68.7 69.7 1.0 1.1 Reported here
PAL0062+ 180.0 193.5 13.5 4.0 Reported here
PAL0075+ 30.6 34.5 3.9 1.3 Reported here
PAL0075+ 64.0 67.0 3.0 2.9 Reported here
PAL0075+ 70.0 72.0 2.0 5.6 Reported here
PAL0075+ 82.2 91.0 8.8 7.5 Reported here
PAL0075+ 64.0 91.0 27.0 3.3 Reported here (No lower cut)