Mawson identifies high-grade uranium at Stensjodalen in Swedenadmin
Mawson Resources Limited. Michael Hudson, President & CEO, announces the staking of the Stensjodalen and Stensjodalen South uranium prospects in Northern Sweden. The project area lies three kilometres northwest of Mawson’s Klappibacken project and is contained with the 100%-owned Hotagen nr 1 exploration permit of 5273 hectares.
At the Stensjodalen prospect, a granite host rock with multiple uranium-fluorite-hematite bearing fractures and zones of cataclastic breccia are exposed within outcrops over a 50-metre-square area. Each uranium mineralized structure ranges from decimetres to half-metre widths. The prospect was first discovered by the Swedish Geological Survey (“SGU”) in the early 1980s, when three samples taken from outcrop areas averaged 2.1% U3O8, and ranged from 0.2% to 5.1% U3O8. Forty boulders are associated with the mineralized outcrop. Five boulder samples averaged 0.6% U3O8 and ranged from 0.2% to 1.9% U3O8. The SGU completed a total of 15 diamond drill holes at the prospect over a 150-metre by 50-metre area. The project remains open along strike and at depth. Better drill results from this campaign included:
– 7 metres for 0.14% U3O8 from 15 metres, 3 metres for 0.33% U3O8 from 33 metres and 3 metres for 0.75% U3O8 from 41 metres in drill hole 83807 – 5 metres for 0.19% U3O8 from 15 metres in drill hole 83803
– 1 metre for 0.64% U3O8 from 15 metres in drill hole 83801
At Stensjodalen South, a glacial boulder train with a total of 110 radioactive boulders has been discovered 450 metres south of the prospect area. Analyses from two mineralized boulders returned 0.6% U3O8 and 0.1% U3O8. One SGU drillhole has been completed to test the prospect, which returned 2 metres for 0.29% U3O8 from 75 metres in drillhole 84804. Further information regarding these projects may be found at http://www.mawsonresources.com/index.php?page(equal sign)ProjectsStensjodalen.
Mr Hudson stated: “The Stensjodalen area has high uranium grades up to 5.1% U3O8 from surface outcrops, and a first program of drilling successfully extended uranium mineralization under cover. Drilled uranium mineralization at Stensjodalen and Stensjodalen South extends the total zone over a 450-metre-long trend. Previous exploration of the project did not continue beyond the early 1980s, due to the change in sentiment towards the nuclear industry at that time, leaving the potential for mineralization along strike and at depth untested. The proximity of this project to Mawson’s Klappibacken uranium project, located only three kilometres away, where better drill intersections include 53.1m for 0.16% U3O8 from 30.2m, is particularly encouraging. Mawson will commence ground-based surveys in May 2007 once the snow cover has melted”.
The qualified person for the Stensjodalen project, Mark Saxon, Mawson’s VP-Exploration and director, and a member of the Australasian Institute of Mining and Metallurgy, has reviewed and verified the contents of this release.
On behalf of the Board,
“Michael Hudson” ——————————-
Michael Hudson, President & CEO
Forward Looking Statement. This news release contains certain “forward-looking” statements and information relating to the Company that are based on the beliefs of the Company’s management as well as assumptions made by and information currently available to the Company’s management. Such statements reflect the current risks, uncertainties and assumptions related to certain factors including, without limitations, competitive factors, general economic conditions, customer relations, relationships with vendors and strategic partners, the interest rate environment, governmental regulation and supervision, seasonality, technological change, changes in industry practices, and one-time events. Should any one or more of these risks or uncertainties materialize, or should any underlying assumptions prove incorrect, actual results may vary materially from those described herein. Neither the TSX Venture Exchange nor the Frankfurt Deutsche Bã¶rse have reviewed the information contained herein and, therefore, do not accept responsibility for the adequacy or accuracy of this news release.
For further information
Investor Information: www.mawsonresources.com, 1305 – 1090 West Georgia St., Vancouver, BC, V6E 3V7 www.mawsonresources.com Company Contact: Mariana Bermudez, (604) 685-9316 Investor Relation Consultants: Mining Interactive, Nick Nicolaas (604) 657-4058 Wayne Melvin (604) 619-6327
Source: Mawson Resources Ltd.