Hotagen Uranium Mineralized District
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. A summary from 3 of the 21 projects from Hotagen include:
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.
Kapell
Three claims over a 15 km trend with high grade sandstone hosted/roll front mineralization. Unique in Sweden -- potential for new camp to be identified. Better drill intersections include:
2.65 m @ 1.54% eU3O8 from 21.8 m (drill hole AVI75402)
2.65 m @ 1.05% eU3O8 from 3.2 m (drill hole AVI75401)
Duobblon
The Duobblon uranium project contains a CIM-compliant inferred resource of 8.8 million pounds at 0.03% U3O8 drilled over 1 kilometre. The host sequence remains undrilled over additional 4 kilometres.
Arvidsjaur-Areplog
Mawson has granted a third party, ASX-listed Hodges Resources Ltd, the right to earn up to 51% in the project by funding work program expenditures of US$0.5 million over 4 years on 4 of Mawson's earlier stage uranium projects (including the Norr Döttern and Harrejokk projects in the Arvidsjaur-Areplog area) in Sweden and up to 75% by fully funding any project to successful bankable feasibility. Other projects joint ventured to Hodges are Sjaule in Hotagen Åsnebogruvan in Southern Sweden.
Tasjo
A 3 to 10 metre thick uranium mineralized phosphatic shale exists over a 40 kilometre strike at the Tåsjö project. An exploration target of 75 to 150 million tonnes has been estimated and confirmed by NI43-101 report at a grade between 0.03% to 0.07% U3O8 for 104 to 116 million pounds of contained U3O8 and 165,000 to 180,000 tonnes of rare earth metals.
