Rathdowney Highlights Silver Potential at Project Olza
VANCOUVER, Oct. 8, 2013 /CNW/ - Rathdowney Resources Ltd. ("Rathdowney" or the "Company") (TSXV: RTH) is pleased to report on additional studies of silver mineralization and other activities at Project Olza, located 70 km northwest of Krakow in southern Poland. Olza is a Mississippi Valley Type (MVT) Zinc (dominant)-Lead-Silver project situated in the historic Silesian mining district, the world's largest MVT district which has seen long term production. The district has extensive infrastructure including power, rail and other facilities to support mine development.
The focus on added potential from silver was driven by preliminary metallurgical work (see Rathdowney News Release dated June 18, 2013) which showed standard zinc and lead flotation conditions, without any upgrading, produces optimum metallurgy and excellent recoveries to zinc and lead concentrates with 83% recovery of silver to the zinc concentrate.
During its drilling programs, Rathdowney's technical team recognized that significant amounts of silver accompany zinc and lead in these MVT deposits. From mid-2011 to early 2013, Rathdowney drilled two hundred and twenty-three (223) holes in the central part of the Zawiercie and Rokitno concessions, confirming the presence of substantial mineral resources (21.2 million tonnes in the inferred category grading 7.42% combined zinc and lead at a 2.0% zinc cutoff1) in this area as well as excellent potential for expansion. Rathdowney's drilling also confirmed the presence of important concentrations of silver in the deposit; some of the intersections with key silver results are tabulated below. Full results were previously disclosed in Company news releases in 2012 and 2013 (see news releases and drill hole location maps posted on the Company website).
| Drill Hole Number | From (m) | To (m) | Intercept (m) | Zn+Pb* % | Zn % | Pb % | Ag g/t | |
| OLZ-011 | 99.90 | 104.00 | 4.10 | 20.15 | 14.97 | 5.18 | 68.4 | |
| OLZ-014 | 98.00 | 101.40 | 3.40 | 11.47 | 11.22 | 0.25 | 51.0 | |
| OLZ-028 | 99.30 | 102.25 | 2.95 | 14.71 | 14.65 | 0.07 | 60.1 | |
| OLZ-029 | 98.75 | 102.00 | 3.25 | 15.10 | 15.08 | 0.01 | 56.4 | |
| OLZ-039 | 85.20 | 89.10 | 3.90 | 14.64 | 14.21 | 0.43 | 51.2 | |
| OLZ-089 | 117.55 | 118.90 | 1.35 | 7.45 | 7.36 | 0.09 | 80.2 | |
| OLZ-092 | 80.90 | 81.80 | 0.90 | 7.05 | 4.07 | 2.98 | 50.0 | |
| OLZ-102 | 134.90 | 141.35 | 6.45 | 16.86 | 9.30 | 7.56 | 57.8 | |
| OLZ-102 | Incl | 138.10 | 141.35 | 3.25 | 29.60 | 17.72 | 11.88 | 106.0 |
| OLZ-154 | 79.05 | 81.25 | 2.20 | 11.50 | 7.89 | 3.61 | 72.4 | |
| OLZ-157 | 156.50 | 159.20 | 2.70 | 20.27 | 15.19 | 5.08 | 52.0 | |
| OLZ-161 | 136.82 | 140.20 | 3.38 | 15.44 | 14.71 | 0.73 | 94.2 | |
| OLZ-185 | 128.00 | 130.10 | 2.10 | 0.14 | 0.14 | 0.002 | 103.9 | |
| All diamond core holes were drilled vertically through the sub-horizontal mineralized horizons so intersections represent approximate true widths. *Figures may not some due to rounding. | ||||||||
"Our drilling had shown that these MVT deposits host zinc, lead and silver mineralization of significant grades and thicknesses; however, the results are particularly compelling in light of the more recently completed metallurgical studies," stated President and CEO John Barry. "Importantly, the presence of silver, and our ability to recover it, indicates the opportunity for economic enhancement of the currently identified mineral resources. This provides an excellent basis to move forward. Our site team is focused on project-data compilation and assessment and planning for ongoing environmental and engineering and community engagement activities to advance the project."
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1 Individual grades are 5.8% zinc and 1.54% lead. For further details see Rathdowney News Release dated September 11, 2012
"Project Olza is located in a brownfield setting, connected by rail to the fully-integrated mining infrastructure at nearby Boleslaw that is currently supplied by mines nearing the end of their operating life," added Barry. "These are key advantages for our project that provide a major competitive advantage over the small group of junior companies developing zinc-lead-silver deposits around the world. We plan to work closely with our neighbours to explore synergies that provide the very real opportunity to reduce the capital costs and to shorten the permitting timeline."
About Rathdowney
Rathdowney Resources Ltd. is a mineral exploration company focused on finding and developing the next generation of zinc-lead-silver deposits. Rathdowney is associated with Hunter Dickinson Inc. ("HDI") a diversified, global mine development company with a 25-year history of mineral development success. From its head office in Vancouver, Canada, HDI applies its unique strengths and capabilities to acquire, develop, operate and monetize mineral properties that provide consistently superior returns to shareholders.
The technical information in this release has been reviewed by Mark Rebagliati, P.Eng, a Qualified Person as defined by NI 43-101.
John Barry
President & CEO
| Sample preparation and analysis for Project Olza is done at ISO 17025:20 05 accredited Omac Laboratories Ltd. (Stewart Group/ALS Laboratory Group) in Loughrea, Ireland. All samples are assayed for zinc, lead and silver by HNO3, KCLO4 and HBr and the final solution in dilute Aqua Regia is determined by Inductively Coupled Plasma-Optical Emission Spectroscopy (ICP‐OES) finish. These three elements and 42 additional elements are also determined for all samples by 4 acid digestion, followed by ICP‐OES finish. As part of a comprehensive QA/QC 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. 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, 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.
Contact
For further details on the Company and its projects, please visit www.rathdowneyresources.com or contact Investor Services at (604) 684-6365 or within North America at 1-800-667-2114.