VANCOUVER, March 26, 2019 /PRNewswire/ - Mawson
Resources Limited ("Mawson") or (the "Company") (TSX:MAW,
Frankfurt:MXR, PINKSHEETS: MWSNF) announces participation in
the Finland-based Battery
Materials ("BATCircle") research and development ("R&D")
consortium, providing recognition that Mawson's 100% owned
Rompas-Rajapalot project is a significant and strategic gold-cobalt
growing resource for Finland.
Highlights:
- Mawson selected to be a participant of Finland's BATCircle consortium, a program
designed to value-add to the Finnish battery metals circular
economy;
- R&D funding for the BATCircle research project for Mawson's
Rompas-Rajapalot project is €500,000 (CAD$756k) including the Company's contribution of
€250,000 (CAD$378k) on a 50:50
funding basis to conduct advanced exploration and metallurgical
studies on the Rompas Rajapalot gold-cobalt project;
- Mawson's Rajapalot project is a significant and strategic
gold-cobalt resource for Finland
with the maiden resource positioned as one of Finland's current top three gold resources by
grade and contained ounces and one of a small group of cobalt
resources prepared in accordance with NI 43-101 policy within
Europe.
Michael Hudson, CEO states,
"Mawson's Rajapalot project is a strategic gold-cobalt project
for Finland and we are honored to
participate in the BATCircle consortium. Equally, we are encouraged
by the vision of Business Finland to stimulate the dominant and
growing role Finland plays in a
modern and sustainable supply chain for battery metals. The battery
supply chain, through to the customer, is demanding sustainable and
ethically sourced metals and minerals, and the Finnish ability to
deliver against these demands is a unique and competitive
advantage."
BATCircle was founded under the leadership of Aalto University
to coordinate research on the battery metal circular economy from
exploration to recycling. BATCircle includes 22 companies,
four universities, two research institutes and two cities. The
project is biennial and has a total budget of over €20 million.
According to the European Commission ("EC"), the value of the
European battery market could rise to €250 billion by
2025. The goal of the BATCircle project is to enable the
creation of a market of least €5 billion in Finland.
Cobalt is a key component in the cathode of most lithium-ion
batteries and is considered crucial in the switch to electric
mobility and greener generation and storage of energy. Trends
cumulatively indicate there is a major supply risk across the
battery metal space, particularly across Europe where cobalt is on the EC's critical
raw minerals list, delivering a strong mandate to discover and
develop local and ethically produced supply alternatives.
The R&D funding for the Mawson's Rompas-Rajapalot project in
BATCircle joint research project is €500,000 (CAD$756k) to conduct advanced exploration and
metallurgical studies on the Rompas Rajapalot gold-cobalt project
on a 50:50 funding basis.
Rajapalot is a significant and strategic gold-cobalt resource
for Finland with the maiden
resource positioned as one of Finland's current top three gold resources by
grade and contained ounces and one of a small group of cobalt
resources prepared in accordance with NI 43-101 policy within
Europe. Finland refines half the world's cobalt
outside China. The world's largest
cobalt refinery is located 400 kilometres south of Rajapalot,
where CRU estimates annual refining of 22,734 tonnes of
cobalt (approximately 18% of world refined cobalt production), 90%
of which was sourced from Chinese-owned mines in the Democratic Republic of Congo. Finland mines only 650 tonnes or 0.5% of the
world's cobalt per year. The Rajapalot resource has the potential
to support Finland's desire to
source ethical and sustainable cobalt.
Technical Background
The qualified person for Mawson, Dr. Nick Cook, President for Mawson and Fellow of
the Australasian Institute of Mining Metallurgy has reviewed and
verified the contents of this release.
About Mawson Resources Limited (TSX:MAW, FRANKFURT:MXR,
PINKSHEETS:MWSNF)
Mawson Resources Limited is an exploration and development
company with a focus on the resource expansion of its high-grade
Rajapalot gold-cobalt in Finland.
Mawson has distinguished itself as a leading Nordic Arctic
exploration company.
Rajapalot is a significant and strategic gold-cobalt resource
for Finland with the recently
published maiden resource already positioned as one of Finland's current top three gold resources by
grade and contained ounces and one of a small group of cobalt
resources prepared in accordance with NI 43-101 policy within
Europe. A pit and underground Constrained Inferred
Mineral Resource of 424,000 ounces of gold equivalent
("AuEq") at 3.1 g/t AuEq (4.3 million tonnes at 2.3 g/t
Au, 430 ppm Co) at 0.37 g/t AuEq cut-off open pit and 2 g/t AuEq
underground was calculated, within a combined Unconstrained
Inferred Mineral Inventory for the Palokas and Raja prospects
of 482,000 ounces AuEq at a grade of 2.4 g/t AuEq (6.2
million tonnes at 1.7 g/t Au, 410 ppm Co) at 0.4 g/t AuEq cut-off.
The constrained resource demonstrates the high-grade of
Rajapalot with open-pittable grades of 2.8 g/t AuEq (2.1
g/t Au and 420 ppm Co) and underground grades of 5.2 g/t AuEq.
The calculation represents the first resource estimate for the
Rajapalot Gold-Cobalt Project and has substantial potential to
grow, with only 20% (800 metres) of the 4 kilometres known
mineralized trend included within the maiden resource to relatively
shallow depths (average depth of drilling 88 metres within 34.2
kilometres drilled to date at Rajapalot)
NI 43-101 Technical Report:
On December 19, 2018, Mawson filed an independent
National Instrument 43-101 Technical Report (the "NI 43-101
Technical Report") on the Mineral Resource Estimate for the Raja
and Palokas Prospects, at the 100% owned Rajapalot Project in
Finland, (the "NI 43-101
Technical Report"), in support of the Company's news release
dated December 17, 2018. The NI
43-101 Technical Report was authorized by Mr. Rod Webster of AMC Consultants Pty
Ltd ("AMC") of Melbourne,
Australia, and Dr. Kurt Simon
Forrester of Arn Perspective of Surrey, England. Each of Mr. Webster and Dr.
Forrester are independent "qualified persons" as defined by
National Instrument 43-101. The NI 43-101 Technical Report may be
found on the Company's website
at www.mawsonresources.com or under the Company's profile
on SEDAR at www.sedar.com. The gold equivalent ("AuEq") value
was calculated using the following formula: AuEq g/t = Au g/t + (Co
ppm/608) with assumed prices of Co $30/lb; and Au $1,250/oz. AuEq varies with Au and Co prices.
On behalf of the Board,
"Michael
Hudson"
Michael Hudson, Chairman &
CEO
Forward-Looking Statement
This news release contains forward-looking statements or
forward-looking information within the meaning of applicable
securities laws (collectively, "forward-looking statements"). All
statements herein, other than statements of historical fact, are
forward-looking statements. Although Mawson believes that such
statements are reasonable, it can give no assurance that such
expectations will prove to be correct. Forward-looking
statements are typically identified by words such as: believe,
expect, anticipate, intend, estimate, postulate, and similar
expressions, or are those, which, by their nature, refer to future
events. Mawson cautions investors that any forward-looking
statements are not guarantees of future results or performance, and
that actual results may differ materially from those in
forward-looking statements as a result of various factors,
including, but not limited to, capital and other costs varying
significantly from estimates, changes in world metal markets,
changes in equity markets, planned drill programs and results
varying from expectations, delays in obtaining results, equipment
failure, unexpected geological conditions, local community
relations, dealings with non-governmental organizations, delays in
operations due to permit grants, environmental and safety risks,
and other risks and uncertainties disclosed under the heading "Risk
Factors" in Mawson's most recent Annual Information Form filed on
www.sedar.com. Any forward-looking statement speaks only as of the
date on which it is made and, except as may be required by
applicable securities laws, Mawson disclaims any intent or
obligation to update any forward-looking statement, whether as a
result of new information, future events or results or
otherwise.
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SOURCE Mawson Resources Ltd.