MWE - Mawson West

[Bluesky]

http://www.mawsonwest.com.au/

17 May 2007

DRILLING COMMENCES ON THE KAPULO HIGH-GRADE COPPER PROJECT
Australian diversified minerals exploration company Mawson West (ASX: MWE) is pleased to announce that it has commenced drilling at the Katanga Prospect within the Kapulo Joint venture area - DR Congo, where MWE is earning 65% from Anvil Mining.

This drilling is aimed at defining the first J.O.R.C. compliant copper resource for the Kapulo area, which is expected to be released later this year. Results will be released as they are received; first visual results expected within one week and first assay results expected within 4-6 weeks.

Breakout today 3 year high

 

[Sprinter79]

http://www.mawsonwest.com.au/

17 May 2007

DRILLING COMMENCES ON THE KAPULO HIGH-GRADE COPPER PROJECT
Australian diversified minerals exploration company Mawson West (ASX: MWE) is pleased to announce that it has commenced drilling at the Katanga Prospect within the Kapulo Joint venture area - DR Congo, where MWE is earning 65% from Anvil Mining.

This drilling is aimed at defining the first J.O.R.C. compliant copper resource for the Kapulo area, which is expected to be released later this year. Results will be released as they are received; first visual results expected within one week and first assay results expected within 4-6 weeks.

Breakout today 3 year high

20% today. I accidentally added this to one of my watchlists a few weeks back, pity i didn't 'accidentally' buy any back then hahaha

 

[mick2006]

Just a quick look at what is perhaps the last undiscovered iron ore beauty left on the ASX, with several exciting iron ore JV's with PSP and ACS, after discussions with the company it looks like we will be hearing a fair bit of news regarding not just iron ore but gold and copper as well in the coming weeks.

Anyone of a number of different announcements could move the shareprice.


-Spoke with the company have been in the field and expect iron ore rock chip sample results within two weeks(have recorded samples of over 60% Fe already likely to move the market if they hit it again)
-Commencement of iron ore drilling and exploration at three locations Woolshed Prospect, Warriedar Prospect, MAGNETITE RANGE PROSPECT. (just the announcement will likely move the shareprice not to mention any further rock chip samples to be released)

-Drilling Results from Goldern Mile South JV (located only 4km south of the Kalgoorlie Superpit 75 million oz gold, the largest gold mine in Australia)

-Drilling Results from Kapulo Copper Deposits in Africa (with previous results up to 31% copper.)


Iron Ore

Payne's Find JV PSP(60%) MWE (40%)

The joint venture covers an area of 200 sq km in the Midwest Iron Ore Region with several prospects making up a total strike of over 17km.


Woolshed Prospect

With a current strike length of around 4km and a likely target of 50-60 million tonnes of DSO hematite ore with samples grading up to 59.9% Fe.

Drilling to commence shortly as confirmed by company, likely to draw attention to company due to frenzied state of iron ore plays.


Warriedar Prospect


The Warriedar Prospect is in close proximity to both Gindalbie's massive Karara project and Mt Gibson's major projects.

Current Strike of around 8km with samples confiming both magnetite and hematite iron ore, with samples ranging from 40%-62.8% Fe.

Activity is starting to increase at the Warriedar Project with further rock chip samples to be followed by a round of drilling(to follow drilling at Woolshed), any further high grade samples likely to be a share price mover.


MAGNETITE RANGE PROSPECT,
MOUNT GIBSON (ACCENT RESOURCES NL 80%,
MAWSON WEST LTD 20%)

A detailed aeromagnetic survey has recently been completed on the Company’s Magnetite Range prospect at Mount Gibson. The survey covered a strike length of 14 km of banded iron formation which is along strike from Sincom’s Extension Hill 250Mt magnetite deposit The survey delineated several target zones with strong magnetic responses which have yet to be tested by drilling. The survey also
showed good correlation between the drilling results of last years programme and the magnetic response. Targets that suggest possible hematite enrichment have also been identified.

Drilling is continuing at the Magnetite Range prospect.


Gold

Goldern Mile South JV (SBM 70%) (MWE 30%)

SUMMARY
Only 4km SE of the Kalgoorlie Superpit and amazingly underexplored.
Unparalleled infrastructure –several local operating mills, roads, railways, exploration services etc.
Strategic Joint Venture with St Barbara Mines proven undercover explorers). SBM to spend min $500k in 6 months, and $3M to earn 51% within 3 years. SBM
can elect to earn 70% by spending a further $2M in 2 years. Competed 10,293m of air-core drilling, average depth 66m. Results due anyday


Copper

Strategic Joint Venture with Anvil Mining

Approximately 5,500km² of contiguous tenure in DRC and Zambia
MWE can earn 65% by spending US$4 million over
four years.
Approximately 60km of strike along the
regional Kapulo Shear Zone – which hosts the Kapulo copper deposits (and many other Cu occurrences)
The Kapulo Copper deposits comprise three main zones – Katanga, Safari North and Safari South
Drilling currently underway at the Katanga Prospect – 9 holes completed to date Main primary sulphide mineral is chalcopyrite, with varying amounts
of chalcocite, bornite and on average grades from 5-7% Cu. Oxide enrichment has formed cuprite, native copper, azurite, and malachite with grades up to 31% Cu.They calculated open ended resources (along strike and down dip) between 750,000t @ 4.7% Cu and 850,000t @ 5.8% Cu, to approx 50m depth (Approx 50,000Cu tonnes)

 

[greggy]

Just a quick look at what is perhaps the last undiscovered iron ore beauty left on the ASX, with several exciting iron ore JV's with PSP and ACS, after discussions with the company it looks like we will be hearing a fair bit of news regarding not just iron ore but gold and copper as well in the coming weeks.

Anyone of a number of different announcements could move the shareprice.


-Spoke with the company have been in the field and expect iron ore rock chip sample results within two weeks(have recorded samples of over 60% Fe already likely to move the market if they hit it again)
-Commencement of iron ore drilling and exploration at three locations Woolshed Prospect, Warriedar Prospect, MAGNETITE RANGE PROSPECT. (just the announcement will likely move the shareprice not to mention any further rock chip samples to be released)

-Drilling Results from Goldern Mile South JV (located only 4km south of the Kalgoorlie Superpit 75 million oz gold, the largest gold mine in Australia)

-Drilling Results from Kapulo Copper Deposits in Africa (with previous results up to 31% copper.)


Iron Ore

Payne's Find JV PSP(60%) MWE (40%)

The joint venture covers an area of 200 sq km in the Midwest Iron Ore Region with several prospects making up a total strike of over 17km.


Woolshed Prospect

With a current strike length of around 4km and a likely target of 50-60 million tonnes of DSO hematite ore with samples grading up to 59.9% Fe.

Drilling to commence shortly as confirmed by company, likely to draw attention to company due to frenzied state of iron ore plays.


Warriedar Prospect


The Warriedar Prospect is in close proximity to both Gindalbie's massive Karara project and Mt Gibson's major projects.

Current Strike of around 8km with samples confiming both magnetite and hematite iron ore, with samples ranging from 40%-62.8% Fe.

Activity is starting to increase at the Warriedar Project with further rock chip samples to be followed by a round of drilling(to follow drilling at Woolshed), any further high grade samples likely to be a share price mover.


MAGNETITE RANGE PROSPECT,
MOUNT GIBSON (ACCENT RESOURCES NL 80%,
MAWSON WEST LTD 20%)

A detailed aeromagnetic survey has recently been completed on the Company’s Magnetite Range prospect at Mount Gibson. The survey covered a strike length of 14 km of banded iron formation which is along strike from Sincom’s Extension Hill 250Mt magnetite deposit The survey delineated several target zones with strong magnetic responses which have yet to be tested by drilling. The survey also
showed good correlation between the drilling results of last years programme and the magnetic response. Targets that suggest possible hematite enrichment have also been identified.

Drilling is continuing at the Magnetite Range prospect.


Gold

Goldern Mile South JV (SBM 70%) (MWE 30%)

SUMMARY
Only 4km SE of the Kalgoorlie Superpit and amazingly underexplored.
Unparalleled infrastructure –several local operating mills, roads, railways, exploration services etc.
Strategic Joint Venture with St Barbara Mines proven undercover explorers). SBM to spend min $500k in 6 months, and $3M to earn 51% within 3 years. SBM
can elect to earn 70% by spending a further $2M in 2 years. Competed 10,293m of air-core drilling, average depth 66m. Results due anyday


Copper

Strategic Joint Venture with Anvil Mining

Approximately 5,500km² of contiguous tenure in DRC and Zambia
MWE can earn 65% by spending US$4 million over
four years.
Approximately 60km of strike along the
regional Kapulo Shear Zone – which hosts the Kapulo copper deposits (and many other Cu occurrences)
The Kapulo Copper deposits comprise three main zones – Katanga, Safari North and Safari South
Drilling currently underway at the Katanga Prospect – 9 holes completed to date Main primary sulphide mineral is chalcopyrite, with varying amounts
of chalcocite, bornite and on average grades from 5-7% Cu. Oxide enrichment has formed cuprite, native copper, azurite, and malachite with grades up to 31% Cu.They calculated open ended resources (along strike and down dip) between 750,000t @ 4.7% Cu and 850,000t @ 5.8% Cu, to approx 50m depth (Approx 50,000Cu tonnes)

MWE certainly has an interest in a number of interesting iron ore projects. The JV with ACS in the Mount Gibson area is of particular interest as its along strike from Sincom's massive deposit. MWE is also cashed up. Well spotted Mick. MWE had a good rise today as people look for the next overlooked iron ore stock.
DYOR

 

[mick2006]

i guess the real bonus of MWE is that the iron ore is just the icing on the cake, the copper project in Congo with a 60km strike to investigate could be something enormous.

For those who haven't done any research on the mineral potential of Congo check out Anvil Mining (AVM) Mawson's West joint venture partner a couple of years ago they had a tiny market cap and no production and now they are targeting 50,000 tonnes of copper a year with profits closing in on $200 million a year and a market cap of $1.5 billion, shows the growth potential of the region.

On top of that they have the Goldern Mile South JV which is close to releasing the results of a 10000 metre drill campaign to test for possible extensions of the massive Kalgoorlie Super Pit which is 4 km to the north(the Kalgoorlie Super Pit is Australia's largest Gold Mine with resources of 75 million oz's of Gold), and half decent results are likely to send the stock wild due to the proximity to the super pit.


After talking to the company today they are expecting news out of at least 4 projects over the next month, with so much news awaited MWE is certainly one to watch.

 

[mick2006]

good to see some volume in MWE, we shouldn't be too far away now from the iron ore sampling results and the gold results from the Goldern Mile South JV.

Either set of results have the potential to significantly move the shareprice.

 

[slyty80]

There is currently a trading hault on MWE until Wednesday. Does anyone know what news will be released on Wednesday.

 

[googly]

Yeah just reading on another forum that Mawson have had their contracts in the Congo cancelled along with a number of other foreign companies.

Shareholders will lose everything and you won't even be able to sell. I would summise that this share would go straight into suspension after the trading halt.

I'm going to lose about $1k so I a bit shattered.

 

[googly]

sorry that should have said $10k! I wouldn't have been too shattered at $1000 - but $1k means a bit more to me

 

[bobdog]

Hi Googly,
Could you let us knowthe web site you saw this on. Seems intersting you think there share will be unsalable given they have Australian intrests as well. Cheers Bobdog

 

[googly]

the company is to make an announcement on Wed. I will be seeking the help of a lawyer about this so I can't comment any further.

Cheers

 

[wipz]

All googly has done is talk sh*t about NWR, MON and now MWE...
Googly where did you get this information from?
Or are you just down ramping because your in a bad mood?

 

[jackson8]

http://http://www.friendsofthecongo.org/2007/07/congos-contract-review-process.php


this is some background to what googly is talking about am sure is not too much to worry about just some re negotiating between government and mineing companies

 

[googly]

http://http://www.friendsofthecongo.org/2007/07/congos-contract-review-process.php


this is some background to what googly is talking about am sure is not too much to worry about just some re negotiating between government and mineing companies

Nothing to worry about??!! Who are you trying to kid??!! Mawson is a mining company!!! Mawson is having their contracts looked at!!! All foreign companies are having their licenses cancelled!!! Mawson is a foreign company!!!

Which part of !!! do you not understand??!!!

 

[bobdog]

I have checked around and there is talk of possible renegotiation of contracts or even cancellations but its all up in the air. I have great doubts that the DRC would cancel all 60+ contracts.

 

[googly]

bobdog,

A trading halt called when contracts are being cancelled. Funny timing wouldn't you say??!!

 

[bobdog]

Googly,
Yes i agree trading holts in my experince havent been good but i think your comments about total loss are a bit dramatic given their other projects. Hope i am wrong.

 

[kransky]

either way there is nothing anyone can do about it as its in trading halt so just sit tight and cross those fingers...

i dont see the point of down ramping during a trading halt

 

[Kylastar]

One of the Directors increased his holding just days before the trading halt. This does not indicate to me that the company is in crisis.
Comments like googly are making are just dramatising and are not supported by any facts.
I for one hope these comments are bull@#%$.

 

[slyty80]

That sounds promising if a Director increased his holdings. I can't wait for tomorrow now, Googly had me worried for a bit. It sounds to me that Googly may be wrong.