Ongoing Success in Drilling at Project Olza
VANCOUVER,
March 14, 2013 /CNW/ - Rathdowney
Resources Ltd. ("Rathdowney" or the "Company") (TSXV: RTH) is
pleased to provide an update on progress at Project Olza, located
70 km north west of Krakow in Southern
Poland, and to announce new results from the drill
program. Project Olza hosts Mississippi Valley Type (MVT)
Zinc-Lead deposits in Poland's
historic Upper Silesian Mining District, an area with extensive
infrastructure including power and rail, and a skilled
workforce. The Upper Silesian MVT district is the largest of
its kind in the world and continues to support long-life zinc-lead
mines.
In September 2012,
Rathdowney achieved a major milestone with the release of a
substantial zinc-lead mineral resource at Project Olza. The
initial estimate of the inferred mineral resources in a portion of
the extensive zinc-lead deposit in the Olza project-area are 21.2
Mt of 7.42% Zn+Pb at a 2.0% zinc cutoff.1
President and CEO John Barry stated,
"The resource base provided by the September
2012 estimate establishes a critical mass and we are now
moving forward with data collecting and studies to support a
permitting process as outlined for mining projects in Poland. Community engagement activities that
were initiated in 2010 have now broadened and we are deepening our
discussions with local stakeholders. We have also formalized a
process to consider all financing and partnership options available
to us as we move forward to develop this exciting scalable
deposit."
Rathdowney has completed additional drilling,
with the holes in a pattern designed to optimise the testing and
verification of historical estimates for the mineral deposit at
Olza. The new holes, OLZ-201 to OLZ-223 inclusive, are located in
the northern, central and southern parts of the east mineralized
corridor (see drill hole map at
http://www.hdgold.com/i/rdr/pdf/RTH_NR_DDH_Mar2013.pdf).
Mineralization at significant grades and widths
continues to be encountered. A table of assay results for the new
holes is appended to this release. Highlights include:
Drill Hole
Number |
|
From
(m) |
To
(m) |
Intercept
(m) |
Pb+Zn
% |
Zn
% |
Pb
% |
Ag
g/t |
OLZ-203 |
|
152.70 |
156.55 |
3.85 |
8.49 |
8.45 |
0.04 |
39.6 |
OLZ-205 |
|
92.85 |
94.00 |
1.15 |
10.83 |
2.46 |
8.38 |
14.4 |
OLZ-206 |
|
91.65 |
98.15 |
6.50 |
8.31 |
4.44 |
3.87 |
11.6 |
OLZ-206 |
Incl. |
94.75 |
98.15 |
3.40 |
13.70 |
6.36 |
7.35 |
20.4 |
OLZ-206 |
Incl. |
96.90 |
98.15 |
1.25 |
23.58 |
8.30 |
15.29 |
31.2 |
OLZ-207 |
|
95.15 |
100.80 |
5.65 |
8.97 |
4.33 |
4.64 |
16.6 |
OLZ-207 |
|
103.30 |
106.20 |
2.90 |
7.93 |
6.90 |
1.04 |
25.6 |
OLZ-209 |
|
88.15 |
89.15 |
1.00 |
11.97 |
7.13 |
4.84 |
16.4 |
OLZ-213 |
|
90.25 |
94.10 |
3.85 |
11.69 |
9.33 |
2.36 |
38.9 |
OLZ-220 |
|
66.45 |
68.15 |
1.70 |
7.75 |
2.62 |
5.13 |
15.9 |
OLZ-221 |
|
153.35 |
161.15 |
7.80 |
9.76 |
7.79 |
1.97 |
18.4 |
OLZ-221 |
Incl. |
157.60 |
160.23 |
2.63 |
26.08 |
20.37 |
5.71 |
48.9 |
All of these core
holes were drilled vertically through the sub-horizontal
mineralized horizon, so intersections represent approximate true
widths. Figures may not sum exactly due to rounding. |
"Our Olza drilling has consistently returned
very promising silver concentrations along with solid zinc-lead
grades. The potential for silver to enhance project economics
is highlighted by the results from initial metallurgical testing
that we announced earlier this week, showing excellent zinc and
lead recoveries with a high silver grade reporting to the zinc
concentrate," said Barry. "This is another example of
Rathdowney's ongoing work that is adding value to the project."
_______________________
1 Individual grades are 5.88% zinc and 1.54% lead.
For further details see Rathdowney News Release dated September 11, 2012 or the Company's technical
report on the resource estimate that is filed at www.sedar.com.
Zinc demand continues to grow globally and key
established mine operations are set to be taken offline over the
medium term, resulting in looming deficits in concentrate supply
from the world's mines. The Upper Silesian district has, by far,
the most important accumulation of metal in any of the world's
Mississippi Valley Type districts, with an estimated endowment of
some 40 million tonnes of zinc and lead (USGS, 2010; endnote 1) and
results from Project Olza show that it is an important part of this
world class district. Given its geological potential and
excellent location, Rathdowney's Project Olza presents a compelling
investment opportunity among a small peer-group of zinc-focused
juniors.
About Rathdowney
Rathdowney Resources Ltd. is a mineral
exploration company focused on finding and developing the next
generation of zinc-lead-silver deposits in the ore fields of
Poland and Ireland. 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
17025:2005 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.
TABLE OF ASSAYS RESULTS
Drill
Hole
Number |
From
(m) |
To
(m) |
Interc
ept
(m) |
Pb+Z
n
% |
Zn
% |
Pb
% |
Ag
g/t |
OLZ-201 |
|
150.95 |
152.50 |
1.55 |
2.58 |
0.59 |
1.98 |
5.3 |
OLZ-202 |
|
154.50 |
158.10 |
3.60 |
4.42 |
4.07 |
0.35 |
28.1 |
OLZ-203 |
|
145.55 |
146.85 |
1.30 |
4.46 |
4.32 |
0.14 |
11.5 |
OLZ-203 |
|
152.70 |
157.65 |
4.95 |
7.06 |
6.98 |
0.08 |
31.8 |
OLZ-203 |
Incl. |
152.70 |
156.55 |
3.85 |
8.49 |
8.45 |
0.04 |
39.6 |
OLZ-205 |
|
73.15 |
78.40 |
5.25 |
3.37 |
3.23 |
0.14 |
10.5 |
OLZ-205 |
|
92.85 |
94.00 |
1.15 |
10.83 |
2.46 |
8.38 |
14.4 |
OLZ-206 |
|
78.60 |
81.60 |
3.00 |
2.41 |
1.90 |
0.51 |
11.4 |
OLZ-206 |
|
83.70 |
87.70 |
4.00 |
1.79 |
0.83 |
0.96 |
1.6 |
OLZ-206 |
|
91.65 |
98.15 |
6.50 |
8.31 |
4.44 |
3.87 |
11.6 |
OLZ-206 |
Incl. |
94.75 |
98.15 |
3.40 |
13.70 |
6.36 |
7.35 |
20.4 |
OLZ-206 |
And |
96.90 |
98.15 |
1.25 |
23.58 |
8.30 |
15.29 |
31.2 |
OLZ-206 |
|
101.40 |
105.85 |
4.45 |
4.13 |
2.61 |
1.51 |
5.0 |
OLZ-207 |
|
92.35 |
106.35 |
14.00 |
6.62 |
4.10 |
2.52 |
15.4 |
OLZ-207 |
Incl. |
95.15 |
100.80 |
5.65 |
8.97 |
4.33 |
4.64 |
16.6 |
OLZ-207 |
Incl. |
103.30 |
106.20 |
2.90 |
7.93 |
6.90 |
1.04 |
25.6 |
OLZ-209 |
|
82.90 |
84.30 |
1.40 |
4.06 |
3.38 |
0.68 |
3.9 |
OLZ-209 |
|
88.15 |
89.15 |
1.00 |
11.97 |
7.13 |
4.84 |
16.4 |
OLZ-210 |
|
89.75 |
90.75 |
1.00 |
4.93 |
4.87 |
0.06 |
5.2 |
OLZ-211 |
|
83.00 |
85.00 |
2.00 |
5.60 |
5.44 |
0.16 |
7.0 |
OLZ-211 |
|
92.10 |
94.20 |
2.10 |
3.28 |
3.05 |
0.23 |
4.6 |
OLZ-213 |
|
90.25 |
94.10 |
3.85 |
11.69 |
9.33 |
2.36 |
38.9 |
OLZ-213 |
|
104.55 |
106.30 |
1.75 |
5.22 |
5.21 |
0.01 |
1.5 |
OLZ-213 |
|
110.60 |
115.65 |
5.05 |
4.42 |
3.29 |
1.12 |
0.8 |
OLZ-213 |
|
120.35 |
123.70 |
3.35 |
2.06 |
2.03 |
0.03 |
1.9 |
OLZ-217 |
|
89.50 |
91.35 |
1.85 |
5.92 |
5.35 |
0.57 |
13.5 |
OLZ-220 |
|
66.10 |
73.30 |
7.20 |
2.68 |
1.10 |
1.58 |
5.0 |
OLZ-220 |
Incl. |
66.45 |
68.15 |
1.70 |
7.75 |
2.62 |
5.13 |
15.9 |
OLZ-220 |
|
86.30 |
88.90 |
2.60 |
4.69 |
4.64 |
0.05 |
4.8 |
OLZ-220 |
Incl. |
86.60 |
88.35 |
1.75 |
6.32 |
6.28 |
0.04 |
5.9 |
OLZ-221 |
|
132.95 |
134.85 |
1.90 |
3.45 |
2.11 |
1.34 |
0.9 |
OLZ-221 |
|
146.45 |
148.45 |
2.00 |
4.52 |
4.32 |
0.20 |
4.1 |
OLZ-221 |
|
153.35 |
161.15 |
7.80 |
9.76 |
7.79 |
1.97 |
18.4 |
OLZ-221 |
Incl. |
157.60 |
160.23 |
2.63 |
26.08 |
20.37 |
5.71 |
48.9 |
OLZ-222 |
|
148.45 |
150.00 |
1.55 |
2.30 |
2.06 |
0.24 |
2.7 |
OLZ-222 |
|
153.15 |
156.40 |
3.25 |
1.67 |
1.59 |
0.08 |
3.9 |
OLZ-222 |
|
158.15 |
159.90 |
1.75 |
5.82 |
5.72 |
0.10 |
5.8 |
OLZ-223 |
|
140.15 |
142.70 |
2.55 |
3.28 |
3.18 |
0.10 |
2.7 |
OLZ-223 |
|
145.40 |
154.25 |
8.85 |
2.73 |
2.64 |
0.09 |
2.9 |
No significant intersection in
holes 204, 208, 212, 214-216, 218 and 219.
All diamond core holes, drilled vertically through the
sub-horizontal mineralized horizon, so intersections represent
approximate true widths.
Figures may not sum exactly due to rounding. |
__________________________
Endnote:
1Leach, D.L., Taylor, R.D., Fey, D.L., Diehl, S.F., and
Saltus, R.W., 2010, A deposit model for Mississippi Valley-Type
lead-zinc ores, chap. A of Mineral deposit models for resource
assessment: U.S. Geological Survey Scientific Investigations Report
2010-5070-A, 52 p. - Appendix page 50
SOURCE Rathdowney Resources Ltd.