VANCOUVER, Sept. 22, 2015 /CNW/ - Rathdowney Resources
Ltd. ("Rathdowney" or the "Company") (TSXV: RTH) announces
additional results from new drilling and an update on other
programs at its flagship Olza Zinc-Lead-Silver Project in southwest
Poland.
Current activities at Project Olza are designed to support mine
planning studies and permitting as outlined for projects in
Poland. Programs are also directed toward building on the
positive results announced earlier this year:
- In February 2015, the Company
announced an increase in mineral resources to 24.4 million tonnes
in the inferred category grading 7.02% Zn+Pb (at a 2% Zn
cut-off)1;
- In April 2015, Rathdowney
announced the robust results of a Preliminary Economic Assessment
("PEA") indicating strong potential financial returns for a 6,000
tonnes per day conventional underground mine and mill
operation2; and
- In June 2015, initial results
from new drilling in the vicinity of Zone 5, one of the zones that
comprise the current mineral resources, showed important extensions
to the mineralized zone.
Today's results include silver assays for holes OLZ-230 and
OLZ-241 adding to zinc and lead results announced in the
June 2015 release and zinc, lead and
silver assays for 14 new holes (OLZ-242 to OLZ-255).
Significant widths and grades of zinc, lead and/or silver
mineralization were encountered in 11 of the 14 new holes. Full
details are provided in the Table of Assay Results attached to this
release. Highlights include:
- 4.6 m of 6.6% Zn+Pb and 9.5 g/t Ag, including 2.2 m of 9.9%
Zn+Pb and 13.2 g/t Ag in hole OLZ-244
- 6.7 m of 6.6% Zn+Pb and 9.6 g/t Ag, including 3.9 m of 8.6%
Zn+Pb and 11.2 g/t Ag in hole OLZ-247
- 6.9 m of 3.6% Zn+Pb and 15.9 g/t Ag, including 1.8 m of
10.4% Zn+Pb and 41.4 g/t Ag in hole OLZ-255
This new information complements the excellent results from the
16 holes reported in the June release. Each of the new holes
was drilled outside of the currently defined mineral resource as
shown on the map at
http://www.rathdowneyresources.com/i/pdf/rdr/2015-09-22_NRM_8sBnmq.pdf,
indicating further extensions to Zone 5 and excellent potential to
increase mineral resources with additional drilling.
Key geotechnical data is also being collected from each hole for
engineering studies to assess sites for infrastructure
development. Concurrently, hydrogeological studies and
environmental data collection programs to support permitting are
progressing.
"The Olza team has done an outstanding job to advance the
drilling program," said President & CEO Robert Konski. "Importantly, the
assay results continue to confirm strong intervals of
zinc-lead-silver mineralization as well as providing valuable data
for our ongoing engineering studies. We look forward to
receiving the additional results and updating the mineral resource
estimate."
Rathdowney is committed to responsible mineral exploration and
development with respectful, mutually beneficial discussions and
opportunities for local communities. Our Project Olza
community specialists discuss our programs with representatives of
local communities and government during all phases of work.
Konski added, "These programs could not be advanced successfully
without the key support of our stakeholder engagement
professionals."
___________________________________
1 Individual grades are 5.53% Zn and 1.49% Pb. 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.
|
Table of Assay Results
Drill
Hole
Number
|
|
From
(m)
|
To
(m)
|
Length
(m)
|
Zn
+Pb**
(%)
|
Zn
(%)
|
Pb
(%)
|
Ag
(g/t)
|
OLZ-230**
|
|
108.60
|
111.50
|
2.90
|
2.80
|
1.78
|
1.02
|
42.6
|
OLZ-241**
|
|
103.35
|
106.60
|
3.25
|
16.00
|
15.91
|
0.08
|
2.2
|
|
Incl
|
103.35
|
104.60
|
1.25
|
36.85
|
36.68
|
0.16
|
4.4
|
OLZ-242
|
|
88.70
|
91.80
|
3.10
|
2.99
|
2.99
|
0.01
|
13.2
|
|
Incl
|
89.30
|
91.00
|
1.70
|
4.15
|
4.15
|
0.01
|
18.6
|
OLZ-243
|
|
95.90
|
98.40
|
2.50
|
5.85
|
4.31
|
1.54
|
6.0
|
|
Incl
|
96.50
|
98.40
|
1.90
|
7.34
|
5.32
|
2.02
|
7.2
|
|
|
104.20
|
107.95
|
3.75
|
1.82
|
1.80
|
0.03
|
4.9
|
|
Incl
|
104.20
|
105.30
|
1.10
|
3.20
|
3.14
|
0.06
|
10.9
|
OLZ-244
|
|
97.50
|
103.50
|
6.00
|
5.32
|
5.04
|
0.28
|
7.8
|
|
Incl
|
98.40
|
103.00
|
4.60
|
6.58
|
6.22
|
0.36
|
9.5
|
|
and
|
100.80
|
103.00
|
2.20
|
9.89
|
9.30
|
0.59
|
13.2
|
OLZ-245
|
|
109.00
|
111.70
|
2.70
|
1.41
|
1.37
|
0.03
|
3.9
|
OLZ-247
|
|
98.00
|
116.80
|
18.80
|
4.60
|
4.04
|
0.56
|
7.3
|
|
Incl
|
99.30
|
106.00
|
6.70
|
6.61
|
6.47
|
0.14
|
9.6
|
|
and
|
102.10
|
106.00
|
3.90
|
8.64
|
8.55
|
0.09
|
11.2
|
OLZ-250
|
|
97.20
|
99.50
|
2.30
|
2.89
|
2.74
|
0.15
|
5.6
|
OLZ-251
|
|
91.80
|
99.35
|
7.55
|
2.27
|
1.97
|
0.29
|
3.2
|
|
Incl
|
94.00
|
95.50
|
1.50
|
5.86
|
5.18
|
0.67
|
8.2
|
|
Incl
|
97.70
|
98.30
|
0.60
|
6.00
|
4.56
|
1.44
|
4.5
|
OLZ-252
|
|
88.90
|
90.60
|
1.70
|
4.58
|
4.38
|
0.20
|
17.1
|
OLZ-253
|
|
89.60
|
94.70
|
5.10
|
2.53
|
2.29
|
0.24
|
4.7
|
OLZ-254
|
|
115.00
|
116.50
|
1.50
|
3.38
|
1.08
|
2.30
|
45.1
|
OLZ-255
|
|
113.80
|
120.65
|
6.85
|
3.64
|
3.45
|
0.19
|
15.9
|
|
Incl
|
118.20
|
120.00
|
1.80
|
10.36
|
9.94
|
0.42
|
41.4
|
All diamond core
holes were drilled vertically through the sub-horizontal
mineralized horizons so intersections represent
approximate true widths. No significant results in holes 246,
248 and 249.
*Figures may not add
due to rounding.
** Repeated with Ag
results not available at time of previous release.
|
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 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. Factors that could cause actual
results to differ materially from those in forward-looking
statements include market prices, exploitation and exploration
successes, continuity of mineralization, potential environmental
issues and liabilities associated with exploration, development and
mining activities, 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.
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.
SOURCE Rathdowney Resources Ltd.