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Mawson Resources shares soar 20% as it finds more high grade gold at East Rompas

Strike continuity was confirmed by recent sampling to be more than 700 metres, the group said

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Mawson has found more high grade gold at East Rompas

Shares in Mawson Resources Ltd (TSX:MAW) soared on Monday as it posted further highly encouraging exploration results from the newly discovered East Rompas prospect in Finland.

The project is part of the resource firm's Rompas-Rajapalot project, 500 metres east of the 6km long  Rompas high grade gold vein system.

The firm said that the strike continuity of two high-grade gold-bearing zones  was confirmed by recent sampling to be more than 700 metres, within a mineralized trend over 1.2km in strike.

Highlights from outcrop and mini-drill and diamond sawn samples included 283 g/t (grams per ton) gold in a 0.2m channel sample.

There was also 42.2 g/t (grams per ton) gold  in a 0.7m channel sample, and  45.4 g/t gold in a mini-drill grab sample.

Previous results from the prospect include 2,375 grams per tonne gold; 1,284 g/t gold; 642 g/t gold and 216 g/t gold.

"East Rompas is an exciting new discovery by the Mawson team, with the strike length of the two semi-parallel mineralized zones now exceeding 700 metres," said Michael Hudson, chairman and chief executive of Mawson Resources.

"These new results increase the continuity of the zones and also include the identification of a new low sulphide, high gold-tellurium-bismuth association.

"Drilling to test the East Rompas mineralized trend is now back under way after a break for the holidays and we look forward to first results from this exciting new discovery."

East Rompas lies around 500 metres east of the 6km long Rompas high-grade vein system where drill results include six metres at 617 g/t (grams per ton) in one hole.

Geological mapping, sampling,  geophysics and drill planning are now complete and diamond drilling, which started in mid-December last year is continuing.

Mawson shares in Toronto surged over 20% to stand at C$0.56 each.

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Mawson Resources starts drilling with results expected from February

Michael Hudson, CEO Mawson Resources (TSX:MAW) tells Proactiveinvestors at VRIC 2013 that at 3% gold averaging 100gms per ton gold the company is well blessed and places Mawson uniquely as an investment prospect. The drilling of the asset at Rompas is expected to start delivering results from...

on 28/1/13

2 min read