VANCOUVER, June 23, 2015 /CNW/ - Rathdowney
Resources Ltd. ("Rathdowney" or the "Company") (TSXV: RTH)
announces results from new drilling at its flagship Olza
zinc-lead-silver project in southwest Poland.
In early 2015, Rathdowney announced new milestones for Project
Olza:
- increased inferred mineral resources of 24.4 million tonnes
grading 7.02% Zn+Pb (at a 2% Zn cut-off)1; and
- robust results from a Preliminary Economic Assessment ("PEA"),
indicating strong potential financial returns for a 6,000 tonnes
per day conventional underground mine and mill
operation2.
Current work programs are designed to build on the PEA results
and support mine planning and permitting as outlined for projects
in Poland. The new results are from holes OLZ-226 to OLZ-241,
and are part of a program designed to collect geotechnical data in
areas of potential infrastructure development and to further test
the Olza deposit.
Drilling took place in the vicinity of potential underground
infrastructure near Zone 5, one of several zones that comprise the
mineral resource at Project Olza. All of the holes were
drilled outside of the currently defined mineral resource area, as
shown on the map at
http://www.rathdowneyresources.com/i/pdf/rdr/2015-06-23_NR-Olza-Drill-Plan.pdf
.
Significant widths and/or grades of zinc, lead and/or silver
mineralization were encountered in 11 of the 16 holes.
Highlights include:
- 3.3 m of 16.0% Zn+Pb including 1.3 m at 36.9% Zn+Pb in Hole
OLZ-241
- 8.5 m of 4.77% Zn+Pb and 12.8 g/t Ag including 2.1 m at
17.9% Zn+Pb and 36.8 g/t Ag in Hole OLZ-232
- 3.9 m of 4.7% Zn+Pb and 20 g/t Ag in Hole OLZ-229
Further details are provided in the Table of Assay
Results attached to this release.
These results show important extensions to Zone 5 from the
limits used for the resource estimate announced earlier this
year. The potential to further increase mineral resources
with additional drilling is considered to be excellent.
"Rathdowney's drilling continues to demonstrate the exceptional
potential of Project Olza and to add value to the project," said
President & CEO Robert Konski.
"These new drill holes have obtained valuable data for our ongoing
engineering studies and also indicate extensions to the
mineralization, confirming the potential to expand the mineral
resources and extend the mine life from that presented in the
PEA."
Table of Assay Results
Drill Hole
Number
|
|
From
(m)
|
To
(m)
|
Length
(m)
|
Zn+Pb*
(%)
|
Zn
(%)
|
Pb
(%)
|
Ag
(g/t)
|
OLZ-226
|
|
99.00
|
99.50
|
0.50
|
1.32
|
0.61
|
0.71
|
3.4
|
|
|
102.70
|
106.30
|
3.60
|
1.76
|
0.95
|
0.81
|
2.4
|
|
incl
|
102.70
|
104.00
|
1.30
|
2.71
|
1.12
|
1.59
|
4.0
|
OLZ-228
|
|
97.90
|
103.90
|
6.00
|
2.77
|
2.56
|
0.21
|
9.0
|
|
incl
|
97.90
|
100.30
|
2.40
|
3.94
|
3.71
|
0.23
|
11.9
|
OLZ-229
|
|
102.30
|
106.20
|
3.90
|
4.70
|
4.54
|
0.16
|
20.0
|
|
incl
|
102.30
|
104.90
|
2.60
|
5.49
|
5.25
|
0.24
|
25.8
|
|
|
114.80
|
116.30
|
1.50
|
2.81
|
2.80
|
0.01
|
18.4
|
OLZ-230
|
|
108.60
|
111.50
|
2.90
|
2.80
|
1.78
|
1.02
|
**
|
OLZ-231
|
|
111.35
|
113.90
|
2.55
|
2.19
|
2.04
|
0.15
|
13.5
|
OLZ-232
|
|
122.00
|
130.50
|
8.50
|
4.77
|
4.53
|
0.24
|
12.8
|
|
incl
|
128.40
|
130.50
|
2.10
|
17.89
|
16.98
|
0.92
|
36.8
|
|
and
|
128.40
|
129.80
|
1.40
|
25.47
|
24.12
|
1.35
|
49.7
|
OLZ-235
|
|
123.10
|
124.00
|
0.90
|
2.91
|
2.79
|
0.12
|
10.2
|
OLZ-237
|
|
90.10
|
97.00
|
6.90
|
0.67
|
0.65
|
0.02
|
4.1
|
|
incl
|
94.20
|
95.40
|
1.20
|
2.40
|
2.37
|
0.03
|
12.1
|
OLZ-238
|
|
98.80
|
101.90
|
3.10
|
1.21
|
1.17
|
0.04
|
8.3
|
OLZ-240
|
|
102.50
|
104.60
|
2.10
|
4.56
|
4.46
|
0.10
|
16.1
|
OLZ-241
|
|
103.35
|
106.60
|
3.25
|
16.00
|
15.91
|
0.08
|
**
|
|
incl
|
103.35
|
104.60
|
1.25
|
36.85
|
36.68
|
0.16
|
**
|
All diamond core
holes were drilled vertically through the sub-horizontal
mineralized horizons so intersections
represent approximate true widths. No significant results in
holes 227, 233, 234, 236 and 239. *Figures may
not add due to rounding. ** Ag results pending.
|
About Rathdowney and Project Olza
Rathdowney Resources Ltd. is focused on advancing Project Olza
through permitting and into production.
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 25 km from the ZGH zinc smelter at Boleslaw. A
railway line runs through the Olza project-area, linking it to the
local facilities and also to other smelters through ports on the
Baltic Sea.
Dr. Keith Roberts, PGeo., is the
qualified person, as defined under NI43-101, for the drilling
program at Project Olza and has reviewed the technical information
in this release.
On behalf of the Board of Directors
Robert Konski
President
& CEO
Sample preparation for the current drilling program is performed
at the Bureau Veritas (BV) laboratory in Krakow, Poland. Core samples are weighed, dried and
crushed to >70% passing 10 mesh (2 mm), then 500 g sub-samples
are riffle split and pulverized to >85% passing 200 mesh (75
µm). Samples are shipped by air freight to the Vancouver laboratory of Bureau Veritas
Commodities Canada Ltd., an ISO 9001 accredited laboratory, for
analysis. All samples are assayed for Pb, Zn, Ag and 38 additional
elements by 4 acid (HF-HNO3-HClO4, HCl) digestion of an 0.5 g
sample with an ICP-AES/ICP-MS (inductively coupled atomic emission
spectrometry/mass spectrometry) finish (BV Code: MA270). Samples
with Zn values >40% or Pb values >10%, the upper limits for
the MA270 method, are re-analyzed by BV method MA371; 4 acid
digestion of 0.1 g sample with ICP-AES/ICP-MS finish. As part of a
comprehensive QAQC program, one standard and one replicate are
inserted into the sample stream in each group of 20 samples, as
well as one or more blanks in each analytical batch.
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. 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.
Information Concerning Estimates of Inferred
Resources
This news release uses the term "inferred mineral resources".
Rathdowney Resources Ltd. advises investors that although these
terms are recognized and required by Canadian regulations (under
National Instrument 43-101 Standards of Disclosure for Mineral
Projects), the U.S. Securities and Exchange Commission does not
recognize them. Investors are cautioned not to assume that any part
or all of the mineral deposits in these categories will ever be
converted into reserves. In addition, "inferred resources"
have a great amount of uncertainty as to their existence, and
economic and legal feasibility. It cannot be assumed that all or
any part of an Inferred Mineral Resource will ever be upgraded to a
higher category. Under Canadian rules, estimates of Inferred
Mineral Resources may not form the basis of feasibility or
pre-feasibility studies, or economic studies except for Preliminary
Economic Assessment as defined under 43-101. Investors are
cautioned not to assume that part or all of an inferred resource
exists, or is economically or legally mineable.
1 Individual grades are 5.53% zinc and 1.49%
lead. For further information see Rathdowney's new release
date February 2, 2015.
Mineral resources that are not mineral reserves do not have
demonstrated economic viability.
2 For additional details on the PEA, see Rathdowney's
news releases dated April 20, 2015
and May 14, 2015.
SOURCE Rathdowney Resources Ltd.