VANCOUVER, Nov. 26, 2014 /CNW/ - Rathdowney Resources Ltd.
("Rathdowney" or the "Company") (TSX-V: RTH) announces that it has
received important government approvals, securing the tenure for
its flagship Olza zinc-lead-silver project in southwest
Poland. These are:
- Five year extensions to all of the exploration concessions
comprising the 150 square kilometre property; and
- Approval of Rathdowney's geological documentation by the
Ministry of the Environment, giving the Company the exclusive right
to apply for exploitation concession(s) for a period of five
years.
One of the initial activities of Rathdowney's Phase II program
and a requirement of the permitting process in Poland is completion of a comprehensive
appraisal of the project data and a geological documentation
report. The Project Olza report includes the data sets from 30
years of Polish government surveys and Rathdowney's resource
drilling program in 2011-2013. The procedure encompassed two
steps: a bid for the government data that concluded earlier this
year, and compilation, submission and approval of the documentation
report, which has now also been received, securing the Project Olza
tenure. Moreover, this approval marks completion of the
initial step of permitting and advancement of the development path
for the Olza project.
President and CEO Robert Konski
said "With these key approvals, we have secured our project tenure
and progressed with the evaluation and permitting phase at
Olza. Baseline and other data collection for an environmental
assessment report and to advance engineering studies for the
project continue, supported by the strong and ongoing stakeholder
engagement program being deployed by Rathdowney's Poland-based project team."
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 also approximately 30 kilometres along strike
from the long-life Pomorzany zinc-lead mine and associated mining
infrastructure at Boleslaw, which is accessible by rail.
Rathdowney's Phase I confirmatory drilling program built on the
extensive historical drill database assembled by the Polish State
Survey to delimit 21.2 million tonnes of inferred mineral
resources, grading 7.42% combined zinc and
lead1, with excellent potential for
expansion. Work by Rathdowney also indicates that there are
significant silver concentrations in the Olza mineralization.
A Phase II program is now underway, comprised of technical studies
designed to advance project planning and permitting.
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.
For further details on Rathdowney and Project Olza, visit our
website at www.rathdowneyresources.com.
The technical information in this news release has been reviewed
and approved by David Copeland,
PEng, Chairman and Director of Rathdowney, who is a qualified
person.
On behalf of the Board of Directors
Robert Konski
President & CEO
________________________________ 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 analysed during historical drilling so was
not included in the estimate.
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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.
SOURCE Rathdowney Resources Ltd.