🕐07.09.10 - 22:54 Uhr
Mawson Announces NI43-101 Compliant Inferred Resource of 3.27 Million lbs @ 0.07
4% U3O8 at Nuottijärvi, Finland
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Mawson Announces NI43-101 Compliant Inferred Resource of 3.27
Million lbs @ 0.074% U3O8 at Nuottijrvi, Finland
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Vancouver, Canada - Mawson Resources Limited ("Mawson") TSX - MAW;
Frankfurt - MRY.
Mr Michael Hudson, President & CEO, is pleased to
announce a Canadian National Instrument NI43-101 inferred mineral
resource estimate of 2.0 million tonnes averaging 0.074% U3O8, using a
0.03% uranium lower cut-off, for 3.27 million lbs.
U3O8 for the 100%
owned Nuottijrvi uranium project in central Finland.
Mineralization
at Nuottijarvi remains open along strike and at depth.
The NI43-101 resource and accompanying technical report were completed
by qualified and independent geologists Mr.
John Nebocat of PGS Pacific
Geological Services and Mr.
Geoffrey Reed of Reed Leyton Consultants.
The technical report will be available shortly on SEDAR and
www.mawsonresources.com.
The Nuottijrvi uranium deposit is located in north-central Finland
about 35km northeast of the town of Kajaani.
Nuottijrvi was discovered
by Outokumpu Oy ("Outokumpu") in 1959 who explored it intermittently
until 1969 and maintained the property until the late 1970s.
During
that time surface radiometric and magnetic surveys, airborne
radiometric, magnetic and electromagnetic surveys and geological
mapping were undertaken.
A total of 43 diamond drill holes,
representing about 6,287m, were drilled.
Of these, 38 were located in
the central mineralized zone over a distance roughly 475m north-south
by 150m east-west.
Outokumpo also extracted an 867 tonne bulk sample
that yielded an average grade of 1.10% P, 0.050% U3O8, 8.60% CO2 and
1.41% S.
Uranium at Nuottijrvi occurs as uraninite associated with fluorapatite
breccia, hosted by a carbonate-apatite horizon at the contact between
quartzite and graphite-bearing phyllite.
The mineralized body is
approximately 40m thick, extends from surface to a vertical depth of
80m, trends over a strike length of more than 400m and remains open
along strike and at depth.
The mineral resource estimate was calculated using Mapteks Vulcan
software based on the following geological and resource modeling
parameters:
.
Outokumpu drilled 43 diamond drill holes for 6,679m in the
Nuottijrvi area up to 1969.
Thirty-eight diamond drill holes were
included in the current mineral resource estimation.
Hole spacing was
completed on a 50m by 50m drill pattern.
.
The resource describes three separate bodies of mineralization with
40m true thickness, a strike of 400 metres and an average down dip
extent of 80 metres.
Due to the amount of drilling and orientation, the
true thickness is generally considered to be 70% of drilled thickness.
.
Sections of core drilled by Outokumpu were resampled by the Issuer
and analysed by ICP method at ALS Chemex Laboratories, Vancouver, Canada.
A total of 377 Outokumpu samples from 20 drill holes were incorporated
with the current resource estimation.
The analytical method applied by
Outokumpu was the standard for the industry of the day, and although no
QA/QC data is available, it is considered to be of a high quality.
.
Specific gravity was calculated in the model based on density test
work performed by the Mawson.
.
Grade interpolation was undertaken using inverse distance defined by
the domain wireframes.
The allocations of composites were calculated
using a hard boundary at the domain wireframes.
A program of metallurgical studies is recommended to determine if the
uranium is separable from the phosphorous and to determine what
proportion of the uranium is contained in uraninite versus that found
within the apatite (phosphorous-bearing mineral).
In addition, a 1,500m
diamond drilling program has been proposed to test the lateral and
depth extensions to the deposit.
Mr Hudson stated: "The addition of another NI43-101 compliant resource
to the Companys Nordic uranium portfolio further cements Mawsons
position in providing Europe with a future energy option.
We will
continue exploring at Nuottijrvi in order to resolve metallurgical
issues and expand the known resource in conjunction with our other
active field programs in Finland."
Finland is currently expanding its nuclear program by building the
countrys fifth, and the worlds largest, nuclear power reactor with a
further two reactors recently permitted.
At present, 26% of the total
electricity supply in Finland comes from nuclear energy.
Finland
imports all of the uranium required for its nuclear reactors.
The qualified person in compliance with National Instrument 43-101 for
the Nuottijrvi project, John Nebocat, P.
Eng., has reviewed and
verified the contents of this release.
About Mawson Resources Ltd (TSX:MAW, FRANKFURT:MRY, PINKSHEETS:MWSNF)
Mawson Resources Ltd is a resource acquisition and development company
with METAL and ENERGY interests.
Mawson has distinguished itself as the leading Scandinavian uranium
exploration company, with advanced projects in Sweden and Finland.
As
the European Union moves to reduce its reliance on carbon-based energy
sources and continues to debate energy security, Mawson is well
positioned to provide Europe with the option to fuel its future.
Areva
NC holds 11% of the Company and provides Mawson with an active
technical partner.
In addition, the Company is exploring for gold and copper in the highly
prospective Cordillera of Peru, with a focus on a new high grade gold
discovery at Alto Quemado.
With a strong cash position and a multi-jurisdiction European and South
American portfolio, Mawson is ideally positioned to enhance its status
as a leader in the uranium and gold industries.
Shares Outstanding: 42,697,253.
Cash: approximately C$9.0 million.
On behalf of the Board,
"Michael Hudson"
Michael Hudson, President & CEO
Investor Information
www.mawsonresources.com
1305 -- 1090 West Georgia St., Vancouver, BC, V6E 3V7
Company Contact: Mariana Bermudez +1 (604) 685 9316
Investor Relation Consultants - Mining Interactive
Nick Nicolaas +1 (604) 657 4058
Email:
Forward Looking Statement.
The statements herein that are not
historical facts 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
companys 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.
The
TSX Exchange has not reviewed and does not accept responsibility for
the adequacy or accuracy of this release.
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Copyright (c) 2010 MAWSON RESOURCES LTD.
(MAW) All rights reserved.
For more information visit our website at
http://www.mawsonresources.com or send mailto:
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