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Market: TSX
52-week High/Low: C$0.30 / C$0.15
Sector: Mining
Market Cap: C$15.47M
Mawson Resources

Mawson Resources

Mawson Resources Ltd (TSX:MAW, PINKSHEETS:MWSNF, FRANKFURT:MXR) is a resource acquisition and development company with precious and base metal interests in Finland and Sweden.

The Company's flag ship property is the Rompas gold project in Finland. Maiden drill hole results from Rompas released on May 31 2012 comprised 6 metres at 617 g/t gold from 7 metres depth including 1 metre at 3,540g/t gold from 11 metres depth in drill hole ROM0011.

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Mawson Resources

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Mawson Resources Snapshot

The Company commenced operations on March 10, 2004. On October 28, 2004 the Company completed its initial public offering and on October 29, 2004 commenced trading of its common shares on the TSX Venture Exchange ("TSXV") under the symbol "MAW". At the end of March, 2005 the Company has ist shares listed on the Frankfurt Open Market under the trading symbol "MXR". In 2008 the company migrated to the main TSX board under the ticker symbol "MAW".

Mawson is a natural resources company which has been continually engaged in the acquisition and exploration of precious and energy mineral interests since its incorporation in 2004. 

The Company's flag ship property is the Rompas gold project in Finland. 

The corporate objectives are to build our business in the Nordic countries around Rompas and to find and define large, long-life assets. Our long term vision to cement ourselves as a Finnish based and majority-owned company.

The team has made numerous discoveries and has demonstrated success advancing these towards mining.  





LOCATION: The Rompas exploration project is located a few kilometres south of the Arctic Circle in the municipality of Ylitornio, Northern Finland.


STORY: The Rompas project is a new camp-scale discovery where high-grade gold and uranium have been found within an area approaching 10km by 10km. Mawson acquired the project in April 2010 and outlined the initial hydrothermal nuggety gold vein discovery over a 6.0 kilometres strike and 200-250 metres width. In 2013, a new style of disseminated gold mineralization was drilled at Rajapalot, 8 kilometres east of the Rompas vein system. 


Core sample results in October 2013 at Rajapalot include 19.5m @ 7.4 g/t gold from 1.3 metres from PRAJ0006 and 5.4m @ 37.6 g/t gold from 2.5 metres from PRAJ0009 (including 1.0m @ 189.0 g/t gold from 6.9 metres) and 12.6m @ 3.6 g/t gold from 6.7 metres in PRAJ0005. The disseminated mineralization is coincident with a VTEM geophysical conductor that extends for more than 500 metres through an area with 


Results from the maiden drill program at the Rompas vein system returned 6 metres at 617 g/t gold from 7 metres in drill hole ROM0011 including 1 metre at 3,540 g/t gold in August 2012. In February 2013, the first drill results from North Rompas, located 5km from South Rompas included 0.4m at 395 g/t Au and 0.41% U3O8 from 41m.


GEOLOGY: The project lies within the Peräpohja Schist Belt, a Paleoproterozoic supracrustal sequence of quartzites, mafic volcanics and volcaniclastics, carbonate rocks, black shales, mica schists and greywackes. At Rajapalot fine disseminated hydrothermal gold mineralization occurs within magnesian chlorite-biotite-tourmaline-pyrrhotite-scheelite bearing rocks, located near the contact between mafic rocks and relatively oxidized muscovite and hematite-bearing quartzites. The initial discovery area, Rompas, is a hydrothermal system of carbonate-calcsilicate-quartz veins hosted in poly-deformed amphibolite facies metabasalts, with some bituminous carbon. Detailed examination of the gold and uraninite in polished thin section reveals a series of complex overprinting relationships and the origin of the mineralization remains unclear. 


PROSPECT NOTES: At this early stage of exploration, it is difficult to find a global analogue for mineralization. Within the vein system, gold and uranium mineralization is hosted by a carbonate-calcsilicate-quartz vein array and albitic vein breccias. The veins (amphibole-pyroxene-quartz-carbonate ± native gold, uraninite) and alteration selvages (biotite-amphibole-K-feldspar) have been metamorphosed to amphibolite facies, following a structural episode of flattening within high strain zones. It is interpreted that the mineralized veins are either pre- or syn-deformational, but that the bonanza-grade mineralization is likely a result of redistribution during syn-metamorphic deformation and perhaps superposition of new gold late in the metamorphic history.


The disseminated mineralization differs in that it is more sulphidic and continuous than the vein-style mineralization, and comprises fine disseminated gold mineralization within magnesian chlorite-biotite-tourmaline-pyrrhotite-scheelite rocks. The mineralized zone lies structurally between mafic rocks and relatively oxidized quartzites. 




Mawson holds 833 claims and claim applications for 75,340 hectares at the Rompas Project. A total of 110 exploration claims that cover a surface area of 10,580 hectares and form the core claims at Rompas were granted on October 31, 2010 and came into legal force on October 17, 2012. 




The Rompas area is situated a few kilometres south of the Arctic Circle. The area is located mainly in the municipality of Ylitornio, but some areas in the SE of the project belong to the town of Rovaniemi, the capital of Lapland . The distance to both municipality centres is about 50 km. 


Access to the area is good with a paved road located between between Ylitornio and Rovaniemi. A local forestry road network is also present in the area. The distance to the nearest railroad station is 30km east at Muurola. A railway station is also present at Ylitornio, which is currently under upgrade for three iron projects located in the Kolari and Pajala areas in Finland and Sweden. In addition, an international airport is situated ten kilometres north of Rovaniemi.


The landscape of the area consists of forest and flat mire terrains with shallow undulating hills in places. No houses are located in the claimed area.


Property History


The area was discovered by an airborne radiometric surveys in 2008 by Areva NC. Follow-up exploration was conducted geologists who had previous Geological Survey of Finland ("GTK") experience in the area. Reconnaissance sampling and geological and radiometric mapping was started in 2008 with some follow-up work in 2009. More than 150 new, separate occurrences of high uranium and extremely high gold contents were located in bedrock. At that time, however, AREVA decided to reduce activities in Finland and subsequently Mawson purchased the property from AREVA in April 2010. 


Rajapalot is a grassroots discovery made by Mawson in mid 2012. Prior to August 2012 Rajapalot was unknown and had never been sampled. 





For the 10,580 hectares at Rompas, the Company is entitled to 100% of the mineral rights over the entire claim with certain limitations on exploration methods that can be completed in Natura 2000 areas (an EU biodiversity program) within the exploration claims, including no drilling or trenching due to the presence of specific flora. Mawson is entitled to apply for a modification of this decision by conducting an environmental program (a Natura 2000 assessment) to address these observations in order to obtain permission to conduct drilling and trenching in these areas. Approximately 80% of Mawson's highest priority targets at Rompas are within European Union defined biodiversity areas (Natura 2000) where the Company is not yet permitted to drill. Natura 2000 sites cover about 10% of Finland and approximately 30% of Northern Finland. Natura 2000 is the centrepiece of EU nature and biodiversity policy. It is an EU-wide ecological network of nearly 26,000 sites in the 27 EU countries, established under the 1992 Habitats Directive and covering almost 18% of the EU's land area. The aim of the network is to assure the long-term survival of Europe's most valuable and threatened species and habitats. Natura 2000 is not a system of strict nature reserves where all human activities are excluded. Whereas the network will certainly include nature reserves, most of the land is likely to continue to be privately-owned and the emphasis will be on ensuring that future management is sustainable, both ecologically and economically.


Mawson commissioned Golder Associates of Finland to complete a year-long Natura 2000 Assessment that mapped and reported in detail the floral distribution and natural habitat types of the area. The assessment also defines the impact that Mawson's exploration work will have on the biodiversity values. The key consultant who performed all the mapping was one of the biologists who mapped the Rompas Natura 2000 area when it was defined in the late 1990s. He is widely considered as the biodiversity expert for the project area. The report stated that at this stage of exploration, a managed program will have no significant environmental effects on the area. The Company formally submitted the study to the competent authority, the Centre for Economic Development, Transport and the Environment in Lapland on June 26, 2013. ELY have up to six months to comment on the report, and provide their feedback to the mining authorities (TUKES). TUKES are the ultimate decision-makers to modify Mawson's claims to allow drilling in the Natura 2000 areas. The Company does not expect a decision before early 2014.


Over the last year Mawson has also commissioned the GTK to complete a detailed first stage of a base line geochemical water survey. The aim of the study was to investigate the pre-exploration state of the area. Groundwater, surface water (streams), stream sediments and mosses were studied. Groundwater samples were collected from the wells of the study area, including drilled wells, excavated wells and springs used as household water. Samples of stream water and organic stream sediments were collected from streams in a natural state. Samples of mosses were also collected. Physical-chemical properties (anions and elements) and concentrations of radon (Rn-222) of waters, and elements of the stream sediments and mosses were analyzed. It was found surface, groundwater and moss quality was good and elemental concentrations can be regarded as background values, while variations can be interpreted to be related to the natural variation in the area. Follow-up surveys will be carried out at three year intervals. 


Additionally, the Company has continued to regularly meet all stakeholders including local groups, municipalities and administrative bodies to update them on the Company's work plans. For the most part the stakeholders have been supportive of the Company's work programs and how it has dealt with compliance issues, however there have been some objections and opposition to the Company's work plans and environmental efforts. The Company has been dealing with certain Finnish environmental authorities in regards to certain issues raised as a result of the Company's hand dug trenches at Rompas, completed during the 2010 and 2011 work programs. The first issue involves applying for specific permits to explore on decree-based areas, where exploration is a permitted act. The second issue involves claims that the Company's hand dug trenches from 2010 and 2011 have affected the nature values of an area. The Company's position is that its work programs have had no material impact on the nature values and the Company has engaged various third party studies to demonstrate this to be the case.




Rompas is an exciting new gold discovery 100% owned by Mawson. 


Given the scale, tenor of mineralization and frequency of discovery in an area with only 2% outcrop we believe Rompas to be one of the most exciting exploration-stage gold discoveries in the world today.



As at February 28, 2014, Mawson holds 7 claims in Sweden covering 26,925 hectares and one exploration application for 1,974 hectares.  


Michael Robert Hudson, B.Sc.(Hons) GDipAppFin FAusIMM MSEG MAIG
President, CEO, Chairman and Director


Mr. Hudson has 24 years of experience in mineral exploration in Australia, Asia, South America and Europe. He graduated from the University of Melbourne in 1990 with a First Class B.Sc. (Hons) in Geology. From 1990 to 2004 he progressed from working as mine geologist (3 years working underground in Broken Hill) to managing and developing exploration to pre-feasibility projects in Pakistan, Australia, Peru, Argentina, Mexico and Sweden for major and junior mining companies. After that, he co-founded and has headed Mawson since 2004 and led its development from a junior Venture Exchange listed explorer to a respected European focussed, Toronto Stock Exchange listed company. He has been an integral team member for the discovery of the Portia gold deposit in the Olary district of South Australia, the Duddar Pb-Zn mine in Pakistan, the Norra Karr REE deposit in Sweden and the Rompas gold-uranium property in Finland. In 2005, Mr Hudson received the Tolhurst Noall Prize for achieving the highest mark for "Mining Investment Analysis" in the State of Victoria, Australia for the FINSIA Graduate Diploma of Applied Finance and Investment. Mr. Hudson has primary managerial responsibility for the Company's activities. Mr Hudson is a founder of and also sits on the Board of Tasman Metals Ltd (TSXv:TSM; NYSE-AMEX:TAS) and Flinders Resources Ltd (TSXv:FDR). He is a Fellow of the Australasian Institute of Mining and Metallurgy and Member of both the Society for Economic Geologists and Australian Institute of Geoscientists.



David Henstridge


Mr. Henstridge is a self-employed professional geologist and holds a Bachelor of Science (Honours) degree from the University of Adelaide in Australia and professional designations from each of the Australasian Institute of Mining and Metallurgy, the Australian Institute of Geoscientists and the Geological Society of Australia. Mr. Henstridge brings over 30 years of experience in the mining industry including 20 years in managing public-listed companies. Mr. Henstridge is a director and member of various audit, compensation, corporate governance and nominating committees of other public-listed mineral exploration companies.



Nick DeMare CPA,CA
CFO & Director

Mr. DeMare, a chartered professional accountant, has been President of Chase Management Inc. since 1991, providing accounting, management, securities regulatory compliance and corporate secretarial services to private and public-listed companies. Mr. DeMare also serves as an officer and/or director of a number of public-listed companies. Mr. DeMare holds a Bachelor of Commerce degree from the University of British Columbia and is a member in good standing of the Institute of Chartered Accountants of British Columbia.
Mark Saxon B.Sc.(Hons) GDipAppFin MAusIMM MAIG
Mr. Saxon has 23 years of experience in exploration and resource geology. He graduated from the University of Melbourne in 1991 with a First Class Bachelor of Science (Honours) in geology, and is a member of the Australasian Institute of Mining and Metallurgy. Prior to joining Mawson Resources, he was employed by a number of Canadian exploration companies undertaking project assessment and acquisition for gold and base metal projects. Mr Saxon has also worked for Pasminco Australia Ltd in Australia and South America. Mr Saxon has familiarity with a large number of mineralised terranes and individual mineral deposits and specialises in regional project generation for gold and base metals and exploration geochemistry. His experience ranges from first pass project generation and grassroots exploration to resource definition. Mr Saxon has considerable experience and practical knowledge of the geology, prospectivity and operating environments of Australia, Northern Europe and South America. Mr Saxon is the President & CEO of Tasman Metals Ltd (TSXv:TSM; NYSE-AMEX:TAS) and is a founder of and also sits on the Board of Mawson Resources Ltd (TSX:MAW) and Flinders Resources Ltd (TSXv:FDR).
Gil Leathley
Gil Leathley brings over 50 years of senior experience encompassing all aspects of international mining operations. Between the periods of 1975 to 2000, Mr. Leathley was the driving force in overseeing the development of six major operating mines on behalf of Noranda Mining, Corona Resources and Homestake Mining. Strategic development included the Golden Giant, Jolu, Eskay Creek, Santa Fe, Ruby Hill and Nickel Plate mines. During his tenure, he held various senior management and operating positions, ranging from Mine Superintendent and General Manager to Senior Vice President, and Chief Operating Officer. His responsibilities included overseeing mine development and operations with work forces of up to 2,500 employees. As a noted specialist in operational economics and company finances, he also played a key leadership role in the evaluation of acquisitions and the integration of acquisitions with the various parent companies.
Mr. Colin Maclean B.A (First Class Honours Geology)
Mr. Colin Maclean B.A (First Class Honours Geology). Mr Maclean is Deputy Chairman and a founding partner of The Sentient Group's Resources Funds ("Sentient"). For the past 9 years he has stewarded Sentient's investments as a director of the investee companies under his direct responsibility. Prior to joining Sentient, he spent 14 years in funds management at the Private Capital division of the AMP Society, then Australia's foremost investing institution. Prior to AMP, he spent 15 years as an exploration geologist, mainly with the Exxon Minerals group, exploring for uranium and other ore deposit types in Australia, South Africa, the USA and Europe. His most senior role was Exploration Manager for Exxon Minerals Germany, where his team was successful in delineating a uranium deposit.
Mr. Gilbert Clark , B.Sc. (Geology) Macquarie University Australia,
Mr. Clark is a Canadian based Geologist with more than 14 years of Australian and European industry experience; principally in mining and resource developments. Since 2010, Mr. Clark has been involved in private equity investments and appraisals primarily in the mining and energy sectors. He is currently a Senior Investment Advisor with The Sentient Group, an independent private equity investment firm specializing in the global resources industry.
Dr Nick Cook
Vice President Exploration
Dr Nick Cook obtained his Bachelor of Science with Honours (Geology) from the University of Otago in 1985, then a PhD (Geology) from the University of New England in 1994. He has over 18 years of global experience in exploration and exploration-focused research geology. For the last two years he has been an exploration consultant to a variety of companies, while previously he concentrated on project generation and exploration of gold and base metal properties.
Erkki Vanhanen
Exploration Manager - Scandinavia
Dr Erkki Vanhanen, who came to Mawson via Areva NC in 2010, is the Exploration Manager Scandinavia for Mawson. Dr Vanhanen graduated from a Master of Science in Geology and Mineralogy in 1981 and completed his PhD in Geology and Mineralogy in 2001. Both degrees were completed at the University of Oulu. Dr Vanhanen's professional experience has primarily been in gold and uranium exploration for 25 years including 15 years generating, implementing and managing exploration projects in the field. He spent 3 years with Areva Resources Finland OY as Technical Director and 23 years with the Geological Survey as Finland, with a final role as Division Manager, Bedrock and Raw Materials.
Noora Raasakka
Environmental Leader Finland
Noora Raasakka is the Environmental Leader Finland for Mawson. Noora is a Forestry Engineer with a Masters Degree in Landscape Management. She has developed strong experience within the Finnish environmental administration, applying environmental legislation towards nature protection. Her most recent role has been with The Centre for Economic Development, Transport and the Environment for Lapland (ELY-Centre) in the Nature Protection Unit as a project manager for a program based on developing biodiversity and ecological connections between Natura 2000 sites. As Environmental Leader, Noora sets Environmental Policy with senior management, and is responsible for environmental monitoring and management plans. She is responsible for identifying and managing key environmental risks associated with Mawson's projects and for ensuring environmental factors are effectively addressed and managed. Working closely with local communities and government, Noora manages consultants and ensures that environmental criteria are integrated into the design of exploration projects. The role is a key member of the exploration team and is responsible for ensuring all environmental requirements are delivered on time and within scope.
Mariana Bermudez
Corporate Secretary
Ms. Bermudez has over 19 years of experience providing corporate secretarial, corporate governance and securities regulatory compliance services to public-listed companies and serves as corporate secretary to various reporting issuers. Ms. Bermudez has also been a legal secretary/assistant for two Vancouver law firms.


Date Private
Price per
of Securities
Price per
October 2004 Initial Public Offering (IPO) 0.40 3,625,000    
September 2005 Private Placement 0.40 6,000,000    
April 2006 Private Placement 1.15 6,600,000    
December 2006 Private Placement 1.15 600,000    
February 2007 Private Placement 2.00 4,000,000    
May 2009 Private Placement 0.50 1,500,000    
May 2010 Areva Private Placement 0.29 4,696,698    
October 2010 Sentient Private Placement 0.79 5,000,000    
  Private Placement 0.79 2,000,000    
August 2013 Sentient Private Placement 0.45 3,700,000 1,850,000 0.65
  Private placement 0.45 2,010,417 1,005,208 0.65
September 2013 Sentient Private Placement 0.45 3,634,000  1,817,000 0.65
October 2014 Sentient Private Placement 0.33 3,030,303 1,515,152 0.50
  Private placement 0.33 6,093,940 3,046,968 0.50


Investor Relations:

Institutional IR: Albis Capital Corp. (Toronto), Seema Sindwani +1 (647) 478 3017
Email: [email protected]

Retail IR: Donna Werbes (Vancouver), +1 (604) 685 9316 or +1 (778) 968 1623
Email: [email protected] 


Mariana Bermudez - Corporate Secretary

1305 - 1090 West Georgia Street
Vancouver, BC V6E 3V7 Canada 

Tel: +1 (604) 685 9316
Fax: +1 (604) 683 1585
Email: [email protected] or [email protected]

Mawson Resources Timeline


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