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Mawson wraps up geophysical survey at Palokas to identify deeper drill targets

Last updated: 09:07 13 Jan 2015 EST, First published: 10:07 13 Jan 2015 EST

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Mawson Resources (TSE:MAW) says it has completed a 3D induced polarization geophysical survey at its Palokas prospect in Finland, with results still pending. 

The survey covers an area of 750 metres in strike length and 600 metres in width. The goal is to identify deeper diamond drilling targets beneath near-surface mineralization found by hand portable drilling, the type of drilling Mawson is allowed to use under current regulations.

This is because roughly 20 percent of the 10,000 hectares claimed at Mawson's Rompas-Rajapalot Finland project are defined as EU biodiversity Natura 2000 areas, meaning that there are limitations on certain exploration methods that can be completed. 

The company --- which has had to undergo a slow permitting process since its first major discovery in Finland four years ago -- has emphasized in the past that it has worked with all authorities to minimize the impacts of its planned drilling, including the capture of all drill cuttings, reduction in total machine weight and the placement of walkways to reduce foot traffic.

"We remain active in the field in Finland with both near-surface, hand portable drilling and geophysical surveying and processing continuing during January 2015," said president and chief executive officer Michael Hudson.

"The IP survey covers the Palokas prospect that contains the strongest near-surface mineralization discovered to date, along the 1.2 kilometre mineralized trend, where hand portable drilling results have included 19.5 metres @ 7.4 g/t gold from 1.3 metres depth."

Geophysical testing last year showed the geophysical response of mineralization continues to more than 150 metres depth, with this latest survey expected to help in defining deeper drilling targets below near surface mineralization.

The company also said drill testing of more shallow targets 400 metres south of Palokas, also with a hand portable rig, is still ongoing, and is expected to be completed soon. 

Mawson is awaiting the result on an appeal made by an NGO group against a decision by Finnish mining authorities last July to grant the company full drill access during winter conditions within Natura 2000 biodiversity areas. The modified claims would cover 1,462 hectares on its Rajapalot project in Finland.

A decision on the appeal is expected this year; subject to the decision, the plan is to undertake a winter deep diamond drilling program at Palokas, Mawson said.

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