Mawson Resources Limited(TSE:MAW) announced the discovery of high grade uranium mineralization at shallow depth at its Riutta project, Finland.
Mawson Resources Limited(TSX:MAW) announced the discovery of high grade uranium mineralization at shallow depth at its Riutta project, Finland.
The press release is quoted as saying:
The best drill result from a 10 hole diamond drill program totaling 1,065 m comes from the Ristimonttu prospect where drill hole AREVA DH 1 intersected 11.3 m at 0.68% uranium oxide (“U3O8“) including 3.7 m at 1.53% U3O8 from 28.3 m. The true thickness of the mineralized interval is estimated to be 8.6 m. The drilling was conducted by Areva Resources Finland OY (“Areva”) during 2009, but drill core was never sampled at the time due to Areva’s concurrent sale of its Finnish exploration assets to Mawson. Mawson recently accessed this core, identified the mineralized intervals and completed sampling and assaying. AREVA DH 1 was the only mineralized hole drilled in this program. Only one other hole drilled by Areva tested the main 450 m long mineralized trend, with the remainder of the Areva holes drilled in the south of the project area.
Mawson’s President & CEO, Mr. Michael Hudson stated:
“This is the best uranium drill result in Finland’s history and demonstrates the potential for high grade and near surface uranium at the Riutta project” said Mr Hudson. “High grade uranium mineralization has now been drilled over 450 m of strike within a larger 3.6 km trend. These results highlight the outstanding discovery opportunities presented by Mawson’s Scandinavian uranium portfolio, in addition to the Company’s flagship Rompas gold project in Finland. The Riutta project is fully permitted for exploration, mineralization remains open along strike and down dip, and Mawson looks forward further testing the project’s potential utilizing our recent geophysical survey results.”