Additional results from drilling at Rathdowney's Project Olza: Expansion of Zone 5; Advancement of other studies
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."
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Table of Assay Results
| Drill Hole Number | From | To (m) | Length | Zn +Pb** (%) | Zn (%) | Pb (%) | Ag | |
| 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 *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.
Contact
For further details, visit the company website www.rathdowneyresources.com or contact: Susie Bell, Investor Relations, Tel 778-373-6728 or Toll free (NA): 1-800-667-2114