VANCOUVER, July 11, 2019 /CNW/ - Rathdowney Resources Ltd.
("Rathdowney" or the "Company") (TSX‐V: RTH) is pleased to announce
that the Company will be featured on CEO Clips on the BNN Bloomberg
Channel.
BTV's CEO Clips will feature Rathdowney on the BNN Bloomberg
Channel 6 throughout the day and evening (6am – 12am eastern)
of Saturday, July 13 and
Sunday, July 14, 2019. View
link:
https://www.b-tv.com/rathdowney-resources-zinc-project-ceo-clip-90sec/
BTV's CEO Clips provides a series of short video profiles on
innovative publicly traded companies across North America. Further online distribution
will occur through BTV's CEO Clips and includes: Thomson Reuters
Terminals, Yahoo Finance, Stockwatch, Bloomberg, Stockhouse.com and
BTV's YouTube channel.
The video is also posted on the homepage of the Rathdowney
website.
About the BNN Bloomberg Channel and BTV
BNN Bloomberg is Canada's only
Business News Network reporting on finance and the markets.
BTV-Business Television and CEO Clips produce and create the
largest library of issuer videos and campaigns for broadcast on TV
and financial sites. Contact info@b-tv.com
About Rathdowney and Project Olza
Rathdowney is focused on advancing its 100%-owned Olza
zinc-lead-silver project ("Project Olza") through permitting and
into production. The Company is currently embarked on a two-year
plan to secure a Mining License for the project.
Project Olza is located in the Upper Silesian Mining District of
southwestern Poland, a region of
Mississippi Valley-type zinc-lead deposits that are world-class in
terms of size and tonnage, with a demonstrated history of long-life
mines such as Pomorzany and Olkusz. Deposits of zinc and lead
were identified in the immediate area of Project Olza through core
drilling by Polish State companies in the 1950s to 1980s, with
historical estimates indicating the potential for significant
zinc-lead resources. Rathdowney acquired Project Olza in
2010, conducted confirmatory core drilling over a portion - about
30% - of the historical core drilling-area, and completed resource
studies, metallurgical testing and other engineering work.
Current inferred resources (in the 30% area described above)
are 24 million tonnes at a grade of 7.02% (zinc plus
lead)1.
A Preliminary Economic Assessment ("PEA") indicated strong
potential financial returns for a 6,000 tonnes per day underground
mine with on-site processing facility at Project Olza (see news
release dated April 20, 2015),
including an after-tax Internal Rate of Return ("IRR") of 30%; a
US$170 million Net Present Value
("NPV") and a 2.4-year payback. Moreover, the PEA forecasts
US$125 million of free cash flow
annually, some US$375 million on a
cumulative basis for the first three years of
operation.2
The Preliminary Economic Assessment is preliminary in nature and
includes Inferred Mineral Resources that are considered too
speculative geologically to have the economic considerations
applied to them that would enable them to be categorized as Mineral
Reserves. There is no certainty that the PEA will be realized;
however, it does highlight the economic potential of the inferred
resources if developed in line with the development plan outlined
in the PEA.
Rathdowney believes that the opportunity to increase the mineral
resources and support a long life mine at Project Olza are
excellent. Only 30% of the area of historical core drilling at
Project Olza has been tested by Rathdowney's confirmatory core
drilling program. An Exploration Target Range study in 2019
further assessed the potential in the area of the historical
drilling but outside of the area of Rathdowney's current mineral
resource. Using conditional simulation, the study outlined an
Exploration Target Range (as defined under 43-101) of 54 – 92
million tonnes at grades of 3.9-5.2% zinc and 1.0-1.3%
lead3. This Exploration Target Range is conceptual in
nature and is not a mineral resource estimate. While there is no
guarantee additional drilling will lead to a resource estimate in
this range, the Exploration Target illustrates the excellent
remaining potential of the Olza property.
There are distinct advantages to Project Olza's location in the
Upper Silesian mining district, including a local skilled workforce
and well-established mining infrastructure. Easily accessible
by paved roads, the project site is a one-hour drive from Krakow, a
major city with full services and an international airport.
Power lines with sufficient power to supply the project are
adjacent to the site and local communities have more than
sufficient housing to cater to both temporary construction
workforce requirements (eliminating the need for fly-in fly-out
facilities) and long-term employee needs. The ZGHB zinc
smelter at Boleslaw is only 25 km from the site, and a railway line
runs through the project-area, linking it to the ZGHB smelter and
to ports on the Baltic Sea, providing access to smelters in the
rest of Europe. All of these factors will assist in mine
development.
Rathdowney is committed to responsible mineral exploration and
development. Our local Project Olza community team is actively
engaged with local communities and governments at all levels
regarding project activities and plans.
The technical disclosure in this release has been reviewed and
approved by Qualified Person ("QP") David
Copeland, PEng, who, as Rathdowney's Chairman and a
director, is not independent of the Company.
On behalf of the Board of Directors
J.R.H (Dick) Whittington
President & CEO
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: Project
Olza will obtain all required environmental and other permits and
all land use and other licenses, studies and development of Project
Olza 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.
1
|
Individual metal
grades are 5.53% Zn and 1.49% Pb. At 2% Zn cut-off, as audited and
verified and restated at February 2015 by independent QP - L.
Roberts, MAusIMM (CP), SRK Consulting (UK) Ltd. Mineral Resources
that are not mineral reserves do not have demonstrated economic
viability.
|
2
|
Base Case metal
prices use: Zinc - US$1.10/lb in yrs 1-2, US$1.00/lb in remaining
Life of Mine ("LOM"); Lead - US$1.09/lb in yr 1, US$1.00/lb in yr
2, US$0.95/lb in remaining LOM. Assumptions are based the median
price forecast by >30 independent banks and investment dealers
specialized in commodity market analysis. For further details, PEA
technical report posted on the Company's website and on its profile
at www.sedar.com.
|
3
|
Olza Project
Exploration Target Range (ETR) Study, unpublished internal
report, by R. Mohan Srivastava and David Gaunt (2019). Mr.
Gaunt is a QP that is not independent of the Company and Mr.
Srivastava is an independent QP. The exploration target area
of interest is inside the Zawiercie and Rokitno concessions and
substantially overlaps the area of historical estimates but
excludes the footprint of the current mineral resource and a buffer
zone surrounding it. The exploration target ranges (ETR) of
tonnages and grades were derived by completing a series of 100
equally plausible conditional simulations. A histogram of the
tonnage and grade values from these simulations was completed, and
the 10th and 90th percentile selected as the ETR bounds.
|
SOURCE Rathdowney Resources Ltd.