Hotagen

The Hotagen uranium mineralized district in Northern Sweden is secured by Mawson's 8,360 hectares of exploration claims and includes the Company's Klappibacken project where a 50% upgraded NI43-101-compliant indicated resource of 3.3 million pounds at 0.08% uranium oxide ("U3O8") was recently announced.

In total 21 separate project areas have been defined at Hotagen. Recent results include the discovery of sixty-six individual outcropping uranium mineralized areas within Mawson's exploration clams over an area of 8 kilometres by 7 kilometres. Results included forty assays above 0.05% eU3O8, which ranged from 0.05% eU3O8 to 8.04% eU3O8 and averaged 0.79% eU3O8. The discovery of these uranium mineralized outcrops is significant considering that outcropping rock accounts for less than 10% of the surface area in the Hotagen district, with the remainder of the area blanketed under a thin 1-2 metre soil veneer.
The Hotagen district uranium deposits are located in the north eastern portion of a geological province known as the Olden Window. The Olden Window is an isolated area of Proterozoic basement exposed within younger late Precambrian - early Paleozoic sequences that form the Caledonide mountain range that define the border of Sweden and Norway. Uranium mineralization occurs as vein and breccia deposits developed within a uranium rich granite. Location and geometry of uranium deposits are controlled by subvertical N-S to NNE-SSW brittle or brittle-ductile structures, which are typically intruded by intermediate "diabase" dykes.

A summary from 3 of the 21 projects area in Hotagen:

Uranium at Kläppibäcken is hosted by brecciated fluorite-rich granite from surface. The breccia is 50-70 metres thick. Drilled to date over 125m length. NI43-101 compliant indicated resource 3.3 million pounds at 0.08% U₃O₈. Recent Mawson drill intersections include 56 metres for 0.1% U₃O₈ from 20 metres. The project remains open in all directions.

At Stensjödalen (Hotagen), 15 holes drilled including 7 metres @ 0.14% U₃O₈ from 15 metres, 3 metres @ 0.33% U₃O₈ from 33 metres and 3 metres @ 0.75% U₃O₈ from 41 metres.

At Långvattnet (Hotagen), three areas of uranium have been discovered. An eastern boulder train is comprised of at least 60 radioactive boulders over a 75 metre by 50 metre area. Thirteen analyses returned values ranging from 0.08 to 1.06% U₃O₈ and averaged 0.37% U₃O₈. Boulders are fissle and near source.

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Hotagen District - Granite Hosted Uranium