Tuesday, 29th July 2008 (421 views)

Hansa Resources is to acquire one mining lease and 25 exploration projects in Sweden.

Jeff Gale, president of the company, said 15 gold projects are included in the agreement with Mawson Resources.

In return, Mawson Resources will receive six million shares in Hansa Resources and C$250,000 (£122,988).

The property in Sweden is one of the largest in the Skellefte gold mining district as it covers over 28,000 hectares.

An estimated indicated resource at the Vargbacken project is 1.2 million tonnes at 1.44 g/t of gold.

An inferred resource at the site is 0.9 million tonnes at 1.68 g/t of gold.

Mr Gale said: "We are pleased that our relationship with Mawson is strengthened through their shareholding in Hansa."

In other news, Hansa Resources announced it has completed an induced polarisation survey at its Storkullen gold project in Sweden.

Storkullen is in the Jamtland province, roughly 360 kilometres from Stockholm.

 

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