UPDATE: Mawson Grab Samples up to 1,520 g/t Gold at Rajapalot, Finland; Shares Up 4.4% Late Morning

By Midnight Trader,  January 14, 2013, 10:50:02 AM EDT

Mawson Resources Limited (MAW.V) reports that it has discovered further gold mineralization at the Rajapalot project in Northern Finland with grab samples returning up to 1,520 g/t gold. Mineralization has now been discovered within an area of 4 square kilometres at Rajapalot, which lies 8 kilometres east of the initial Rompas gold discovery.

Highlights from the new results include:

Discovery of new prospect area, Hirvimaa, located 1 kilometre north of previously known mineralization, where 17 surface grab samples returned up to 1,520 g/t gold (minimum 0.0 g/t gold) and 17,300 ppm uranium (minimum 0.1 ppm uranium) and averaged 55.5 g/t gold and 2,246 ppm uranium.

In total, 80 grab samples from the Rajapalot prospect to date average 152.0 g/t gold and 3,248 ppm uranium and range from 0.001g/t to 2,817 g/t gold and 0.1 to 81,900 ppm uranium.

Mawson is up 7 cents to $1.67, bringing it nearer a year high of $1.75. Shares touched a high of $1.71 earlier.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Commodities

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