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Project Overview
Mawson Resources Limited is a gold exploration company, active in the historic Skellefte gold mining district of Northern Sweden. Mawson is the largest property holder in this district with 76,981 hectares of 100% owned exploration titles. Mawson is also acquiring the right to 80% of three advanced gold projects covering over 666 hectares. The regional geology and gold mineralization of the Skellefte district are similar to two of the largest gold provinces in the world; Timmins, Ontario and the Golden Mile in Western Australia, each of which has produced more than 50 million ounces of gold. To date, in excess of 12 million ounces of gold have been delineated in existing and mined resources in the Skellefte district. Sweden is the largest gold producer in the European Union.
The company's main project is Vargbäcken, which is covered by a 25 year mining lease. A Phase 1 reverse circulation “RC” drilling program was completed by Mawson in mid-December 2004 for a total of 1730m. Gold mineralization is defined over a strike length of 550m with 17 out of the 18 holes drilled intersecting better than 2m of 2g/t gold. Higher grade gold mineralization has been drill delineated over 250m strike and from surface to 160 m depth. Best RC drill results include 2 metres of 72.6 g/t gold and 1 metre of 116.5 g/t gold in RC34 and 13 metres of 4.5g/t gold in RC32.
Resource drilling at Vargbäcken will recommence in late April 2005 following positive results from a late 2004 Phase 1 drill program. Mawson will also drill three additional advanced projects in 2005: Middagsberget and Fäbodliden B & C. The projects lie within 4km of Vargbäcken and comprise outcropping gold in quartz veins of a similar nature. Mawson has the option to earn 80% in all projects which are in joint venture with Swedish-listed North Atlantic Natural Resources AB (“NAN”).
Qualified person for the Vargbäcken and Middagsberget projects is Mark Saxon, Mawson’s VP-Exploration and a member of the Australasian Institute of Mining and Metallurgy. The Mawson directors bring strong corporate and technical competencies to create shareholder wealth through resource discovery, development and prudent management of shareholder equity.
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