VANCOUVER, Oct. 10, 2014 /CNW/ - Rathdowney Resources Ltd.
(TSX-V: RTH) ("Rathdowney" or the "Company") announces that it has
granted 380,000 incentive options to directors and an officer of
the Company.
The options have been granted under the terms of the Company's
stock option plan: 200,000 options were granted at an exercise
price of $0.32 per share and 180,000
options were granted at an exercise price of $0.27 per share. The options vest in three
equal tranches: six, twelve and 18 months after the date of grant,
with a five year term.
About Rathdowney
Rathdowney Resources Ltd. is an exploration and development
company focused on advancing the Olza zinc-lead-silver project in
Poland through permitting and into
production. Rathdowney is associated with Hunter Dickinson Inc.
("HDI") a diversified, global mine development company with a
25-year history of mineral development success.
About Project Olza
Project Olza is located in the Upper Silesian Mining District of
southwestern Poland, a world-class
region of Mississippi Valley-type deposits with well-developed
mining infrastructure. Easily accessible by road, the Olza
project site is a one-hour drive from Krakow, a major city with
full services, including an international airport. The
deposits at Olza are along strike from the long-life Pomorzany
zinc-lead mine and 30 km from the ZGH zinc smelter at Boleslaw. A
railway line to the smelter runs through the Olza
project-area.
Since 2010, Rathdowney has invested over $16 million at Olza. The Company's Phase I
confirmatory drilling program built on the extensive drill database
assembled by the Polish Geological Survey to delimit 21.2 million
tonnes of inferred mineral resources, grading 7.42% combined zinc
and lead1, with excellent potential for
expansion. These mineral resources provide the foundation for
engineering, environmental baseline and other Phase II technical
studies underway at site that are designed to advance project
planning and permitting.
For further details on Rathdowney and Project Olza, visit our
website www.rathdowneyresources.com .
David Copeland, PEng, a qualified
person and a director of the Company, has reviewed the technical
information in this release.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
This release includes certain statements that may be deemed
"forward-looking statements". All statements in this release, other
than statements of historical facts, that address exploration
drilling, exploitation activities and events or developments that
the Company expects, are forward looking statements. Although the
Company believes the expectations expressed in such forward-looking
statements are based on reasonable assumptions, such statements are
not guarantees of future performance and actual results or
developments may differ materially from those in the
forward-looking statements. Assumptions used by the Company to
develop forward-looking statements include the following: the Olza
project will obtain all required environmental and other permits
and all land use and other licenses, studies and development of the
Olza project will continue to be positive, and no geological or
technical problems will occur. Factors that could cause
actual results to differ materially from those in forward-looking
statements include market prices, potential environmental issues or
liabilities associated with exploration, development and mining
activities, exploitation and exploration successes, continuity of
mineralization, uncertainties related to the ability to obtain
necessary permits, licenses and title and delays due to third party
opposition, changes in government policies regarding mining and
natural resource exploration and exploitation, continued
availability of capital and financing, and general economic, market
or business conditions. Investors are cautioned that any such
statements are not guarantees of future performance and actual
results or developments may differ materially from those projected
in the forward-looking statements. For more information on the
Company, investors should review the Company's continuous
disclosure filings that are available at www.sedar.com.
1 Estimated at a 2.0% zinc cutoff; individual grades
are 5.88% zinc and 1.54% lead (see Rathdowney News Release dated
September 11, 2012). Silver was not
analyzed during historical drilling so was not included in the
estimate.
SOURCE Rathdowney Resources Ltd.