VANCOUVER, Feb. 27, 2014 /CNW/ - Rathdowney Resources
Ltd. ("Rathdowney" or the "Company") (TSX-V: RTH) reports that
all of the Company's initial objectives for its Olza
Zinc-Lead-Silver Project in southwest Poland were successfully achieved, and the
Company is progressing with its Phase II programs.
Significant Mineral Resources
Rathdowney began work at Project Olza in 2010,
with a comprehensive program to assess the resource potential of
the Olza zinc-lead-silver deposits. This work involved retrieval,
compilation and review of the extensive historical database,
including key information such as sampling and assay procedures and
drill-hole recoveries as well as executing a 225-hole drilling
program in the central part of the project-area. Rathdowney's
drilling confirmed the consistency of historical analytical
results, the continuity of the mineralization and the presence of
important concentrations of zinc, lead and silver. An
estimate of significant mineral resources (21.2 million tonnes in
the inferred category grading 7.42% combined zinc and
lead1) was announced in September
2012, based on National Instrument 43-101 standards. The
Company's work also indicates excellent potential for expansion of
the mineral resources.
______________________________________
1 Estimated at a 2.0% zinc cutoff; individual grades are
5.88% zinc and 1.54% lead (see Rathdowney News Release dated
September 11, 2012). Silver was not
analysed during historical drilling so was not included in the
estimate.
Metallurgical testing indicates simple
flotation process
In conjunction with the initial resource
estimate, Melis Engineering of Saskatoon,
Saskatchewan was engaged to oversee a preliminary
metallurgical testwork program at SGS Laboratories near
Truro, Cornwall, UK. Open-cycle batch flotation
tests were undertaken on a bulk composite collected from
Rathdowney's drilling, which is representative of the Olza
mineralization. The testwork determined that optimum metallurgy
could be obtained using standard zinc and lead flotation conditions
(March 12, 2013 news release). Based
on these results, a standard six-cycle lock-cycle test was
completed to quantify recoveries and concentrate grades under
conditions approaching steady state, with the following excellent
results (June 18, 2013 news release):
a projected zinc recovery of 92% to a 58% zinc concentrate that
assayed 179 g/t silver (representing 83% recovery of silver), and a
projected lead recovery of 90% or better to a 70% lead
concentrate.
Local Infrastructure
Opportunities
The 150-square kilometre Olza property is
located in the Upper Silesian Mining District, an area of
world-class Mississippi Valley zinc-lead-silver deposits where
mining has taken place since the 12th century. As
a result, the area has extensive existing mining
infrastructure. The deposits at Olza are along strike from
the long-life Pomorzany zinc-lead mine and past producing Olkusz
and Boleslaw mines. Importantly, it is also located 30 kilometres
from the ZGH zinc smelter at Boleslaw and a railway line to the
smelter runs through the Olza project-area.
Rathdowney is looking to take best advantage of
the project's excellent location, and is exploring potential
synergies with local mining companies as well as energy,
construction, mining and processing contractors that offer real
opportunities to reduce project costs and timelines.
Active Community Engagement
Rathdowney established a local team and began an
active engagement program with government and local landowners in
2010. These consultation activities have expanded as the
Project Olza has advanced. In early 2013, the Company began a
series of meetings to provide the broader public in the surrounding
communities with information on the work carried out so far and the
Company's plans moving forward. Some 34 local meetings
involving more than 400 participants have been held, and more are
planned.
Advancing Initial Stages of
Permitting
Since successful completion of its resource
assessment in mid-2013, the Rathdowney project team has planned and
initiated Phase II. This work encompasses comprehensive
engineering and environmental studies, expected to continue into
2015, and ongoing community engagement activities designed to
advance the project and facilitate permitting, as outlined for
projects in Poland.
About Rathdowney
Rathdowney Resources Ltd. is an exploration and
development company focused on advancing the Olza zinc-lead-silver
project in Poland through
permitting and into production. Rathdowney is associated with
Hunter Dickinson Inc. ("HDI") a diversified, global mine
development company with a 25-year history of mineral development
success. HDI applies its unique strengths and capabilities to
acquire, develop, operate and monetize mineral properties that
provide consistently superior returns to shareholders.
David Copeland,
PEng, a qualified person as defined under NI43-101, has reviewed
the technical information in this release.
On behalf of the Board of Directors
David J. Copeland
President, CEO and Chairman
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, potential
environmental issues or liabilities associated with exploration,
development and mining activities, 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.