Significant Zinc-Lead Resources at Rathdowney's Olza Project
11 September 2012 - 10:30PM
PR Newswire (Canada)
With clear potential to add substantial resources and make new
discoveries VANCOUVER, Sept. 11, 2012 /CNW/ - Rathdowney Resources
Ltd. ("Rathdowney" or the "Company") announces an estimate of
significant zinc-lead mineral resources for its Project Olza in
Poland. These results, based on 780 core holes drilled
historically by the Polish State as well as confirmatory drilling
in 175 core holes carried out by Rathdowney since June 2011,
represent the first estimate carried out under modern standards, in
compliance with Canadian regulations under National Instrument
43-101. The 100-square kilometre Project Olza property is
located in the Upper Silesian Mining District of southwestern
Poland, an area of extensive Mississippi Valley-type deposits in
which zinc-lead mining has taken place since the 12th century.
Rathdowney has undertaken a comprehensive program over the past 1½
years to assess the Olza zinc-lead deposits. This work has
involved retrieval, compilation and detailed review of the
historical database, including an assessment of key information
such as sampling and assay procedures and drill-hole recoveries,
planning and executing a 175-hole drilling program in the central
part of the area that comprises Project Olza. A total of 955
diamond drill holes from historical and recent drilling were used
to establish the current resource model. Mineralization
occurs along a mineralized corridor which, in plan, follows a
broadly curvilinear pattern with a total strike length of
approximately 10 kilometres and width up to 1 kilometre.
Within this mineralized corridor, stratabound mineralized zones;
ranging in thickness from less than 1 metre to 20 metres, and
averaging 1.5 metres are mainly hosted within a flat-lying
dolomitic unit lying 100 to 250 metres below surface.
Mineral resource areas are shown on the map at the Rathdowney
website at
http://rathdowneyresources.com/i/rdr/pdf/RTH_2012_Sept11_Drawing.pdf.
The results of the estimate at a range of cutoffs are tabulated
below:
_______________________________________________________________ |
Rathdowney Project Olza | | Inferred Mineral Resources |
|_______________________________________________________________|
|Cutoff| Tonnes | | | |Contained Zn |Contained Pb | | Zn %
|(millions)|Zn %|Pb %|Zn+Pb %|(millions lb)|(millions lb)|
|______|__________|____|____|_______|_____________|_____________| |
2.0 | 21.2 |5.88|1.54| 7.42 | 2,750 | 720 |
|______|__________|____|____|_______|_____________|_____________| |
3.0 | 16.1 |6.97|1.66| 8.63 | 2,467 | 588 |
|______|__________|____|____|_______|_____________|_____________| |
4.0 | 12.3 |8.04|1.74| 9.78 | 2,181 | 472 |
|______|__________|____|____|_______|_____________|_____________| |
5.0 | 9.6 |9.04|1.79| 10.83 | 1,912 | 379 |
|______|__________|____|____|_______|_____________|_____________|
Results may not add exactly due to reporting precision and
rounding. President and CEO John Barry said "This is an outstanding
initial result for Project Olza and Rathdowney. These mineral
resources occur in what is effectively a brownfield setting linked
by rail to nearby third-party mine infrastructure, which provides a
solid platform to move forward and consider scoping studies. In
addition, this resource, although substantial, covers only a
relatively minor part of the major mineralizing system on the Olza
property. The prospects offered by now applying new exploration
technology and concepts to the rest of the large property that has
been explored by much lower drilling density are compelling.
Large prospective areas outside the new resource footprint have
either not been drilled or were drilled at inadequate densities for
such deposits. The Rathdowney team is engaged in plans to
further advance the project." The current estimate was completed
under the direction of Robert L. Sandefur, P.E. of Chlumsky
Armbrust & Meyer, LLC, an international mineral resources and
engineering group. Mr. Sandefur is a geostatistician who is an
independent Qualified Person as defined under National Instrument
43-101. A technical report will be filed on the Rathdowney
profile at www.sedar.com within 45 days. The effective date of the
estimate is May 2012, the date of the latest drilling used in
estimation. Drilling, sample preparation, and analysis for Project
Olza were undertaken in accordance with current CIM standards.
Assaying was done at ISO 17025:2005 accredited Omac Laboratories
Ltd. (Stewart Group/ALS Laboratory Group) in Loughrea, Ireland.
Geostatistical analysis and an inverse distance squared method were
used for the estimate. Grade was estimated using an isotropic
search ellipse with a radius of 150 metres and a minimum of three
samples and two drill holes for each block estimate. Blocks
estimated from samples with an average distance of 130 metres or
less meet the criteria for an inferred classification. Based
on the number of historical holes used, an inferred classification
was assigned to the entire estimate. The range of cutoffs
selected is based on a review of recent estimates of similar
zinc-lead deposits as well as underground operations world-wide.
Excellent Exploration Potential on the Extensive Olza Property
Holes used for the current estimate were drilled over a 9-square
kilometre area in the central part of the Olza property. Much
of the historical drilling was concentrated in this area and, in
particular, on what was known as the Zawiercie I deposit.
Other mineralized areas to the north (Marciszow deposit), to the
west (Zawiercie II deposit) and to the southeast (Rodaki-Rokitno
deposit) were historically drilled on irregular and sparse grids,
and the portions of the property in between and adjacent to the
areas have seen very little drilling. Hence, there are
excellent opportunities to substantially increase the mineral
resources. About Project Olza Situated between the major population
centers of Krakow and Katowice, the project site is easily
accessible by road. It is about a one-hour drive from Krakow,
a major city with full services, including an international
airport. The region also has well-developed mining
infrastructure, including smelting facilities. The southern
limit of Rathdowney's ground is approximately 10 kilometres north
of the large operating Pomorzany underground zinc-lead mine and
about 15 kilometres from the zinc-lead concentrator, refinery and
smelter complex. 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
Europe. 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. John Barry 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. 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 or
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 resource". Rathdowney advises investors that
although this term is 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 it. Investors are cautioned not to
assume that any part or all of the mineral deposits in this
category will ever be converted into reserves. 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
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. Rathdowney
Resources Ltd. CONTACT: For further details on the Company and its
projects, pleasevisit www.rathdowneyresources.com or contact
Investor Services at (604)684-6365 or within North America at
1-800-667-2114.
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