🕐16.09.10 - 08:54 Uhr
Mawson Completes the Final 7% Purchase of the Alto Quemado Gold-Copper Project in Peru
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News Release - Thursday, September 09, 2010
Mawson Completes the Final 7% Purchase of the Alto Quemado
Gold-Copper Project in Peru
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Vancouver, Canada - Mawson Resources Limited ("Mawson") TSX - MAW;
Frankfurt - MRY.
Mr Michael Hudson, President & CEO, announces the
Company has completed an agreement to purchase the final 7% of the
company which holds the option to acquire 100% of the Alto Quemado
gold-copper project in the mineral-rich Southern Peru Mineral Belt.
Completion of this agreement allows Mawson to acquire 100% of the stock
of the optionor, Altynor Peru SAC ("Altynor").
Altynor holds an option
to purchase 100% of the Alto Quemado gold-copper project from Alto
Quemado Mining Company SAC ("AQMC").
The 100% acquisition terms from
arms length parties are based on making staged payments of US$50,000 on
signing, US$550,000 on receipt of permits to drill and US$900,000
should the option with AQMC be triggered.
Alto Quemado is a significant new discovery in Peru.
It was not until
informal miners from 2001-2007 exposed a network of high-grade gold
structures beneath a gold-depleted weathered veneer that the true
potential of the area was recognized and documented by Altynors
geologists.
Two styles of mineralization have been identified at the
Property:
.
High-grade near-term production gold target.
Low sulphidation
gold-copper mineralization present as multiple high grade (25g/t
Au in oxide and +40g/t Au in sulphide) mineralized structures,
typically 0.5m to 1.5m wide (locally up to 15m), and traceable
for greater than 3km.
Structures may contain significant copper.
.
Large tonnage copper-gold porphyry target.
The high-grade gold
structures are hosted within an extensive argillic alteration
system and lie adjacent to a leached porphyry exposed in outcrop
that displays a strong IP response over 1.8km by 500m (remains open).
Based on the IP signature, porphyry textures at surface, geochemically
anomalous copper and molybdenum at surface and proximity to large
porphyry copper mines, potential for the discovery of an underlying
porphyry at the project is strong.
"Mawson has been exploring the Alto Quemado site for 3 months
and has conducted extensive mapping and sampling which has
significantly increased our understanding of the property.
Results
from these programs will be released as they become available.
The
Company is currently rehabilitating the artisanal workings to map and
sample the high-grade gold structures beneath the leached surface cap
as well as grid sampling the Santa Maria porphyry area.
Once Mawson
has finalized our agreements with AQMC, we look forward to advancing
environmental permitting to enable the project to be drill tested in
2011." said Mr Hudson.
The underlying agreement between Altynor and AQMC allows Altynor to
acquire 100% of the mining rights from AQMC by payment of ?2.56M in 20
months from receipt of drill permits.
AQMC retain a 3% net smelter
return which is purchasable.
If production is not achieved within 4
years another payment of ?2.56M is due.
Mawson remains in discussion
with the owners of AQMC to modify specific terms of the agreement.
About Mawson Resources Ltd (TSX:MAW, FRANKFURT:MRY, PINKSHEETS:MWSNF)
Mawson Resources Ltd is a resource acquisition and development company
with METAL and ENERGY interests.
Mawson has distinguished itself as the leading Scandinavian uranium
exploration company, with advanced projects in Sweden and Finland.
As
the European Union moves to reduce its reliance on carbon-based energy
sources and continues to debate energy security, Mawson is well
positioned to provide Europe with the option to fuel its future.
Areva
NC holds 11% of the Company and provides Mawson with an active
technical partner.
In addition, the Company is exploring for gold and copper in the highly
prospective Cordillera of Peru, with a focus on a new high grade gold
discovery at Alto Quemado.
With a strong cash position and a multi-jurisdiction European and South
American portfolio, Mawson is ideally positioned to enhance its status
as a leader in the uranium and gold industries.
Shares Outstanding: 42,697,253.
Cash: approximately C$9.0 million.
On behalf of the Board,
"Michael Hudson"
Michael Hudson, President & CEO
Investor Information
www.mawsonresources.com
1305 -- 1090 West Georgia St., Vancouver, BC, V6E 3V7
Company Contact: Mariana Bermudez +1 (604) 685 9316
Investor Relation Consultants - Mining Interactive
Nick Nicolaas +1 (604) 657 4058
Email:
Forward Looking Statement.
The statements herein that are not
historical facts are forward-looking statements.
These statements
address future events and conditions and so involve inherent risks and
uncertainties, as disclosed under the heading "Risk Factors" in the
companys periodic filings with Canadian securities regulators.
Actual
results could differ from those currently projected.
The Company does
not assume the obligation to update any forward-looking statement.
The
TSX Exchange has not reviewed and does not accept responsibility for
the adequacy or accuracy of this release.
Altynor samples were analyzed by SGC laboratories in Lima, Peru with
gold analysed by technique Au-FAA515 and over range determined by
Au-FAG505, copper and silver were assayed by Ag-AA12CP and Cu-AA12CP
techniques.
Mawson samples were analyzed by ALS CHEMEX laboratories in
Lima, Peru with techniques ME-ICP61a, Au-SCR24.
The qualified person
for the Alto Quemado project, Michael Hudson, director and President &
CEO for Mawson, and a Fellow of the Australasian Institute of Mining
and Metallurgy, has reviewed and verified the contents of this release.
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Copyright (c) 2010 MAWSON RESOURCES LTD.
(MAW) All rights reserved.
For more information visit our website at
http://www.mawsonresources.com or send mailto:
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