Rathdowney expands Olza zinc-lead property in Poland
24 September 2012 - 9:48PM
PR Newswire (Canada)
VANCOUVER, Sept. 27, 2012 /CNW/ - Rathdowney Resources Ltd.
("Rathdowney" or the "Company") announces that it has been granted
a third exploration concession in Poland. The 50.8 square
kilometre Chechlo concession, which is contiguous with the
Company's Rokitno concession, was issued to the Company's
wholly-owned Polish subsidiary by the Ministry for the Environment
on September 20, 2012 for a period of five years. The
Company's Project Olza now covers some 150 square kilometres in the
prolific Upper Silesian Mineral District. The Chechlo concession
lies to the southwest of Project Olza along the same
richly-mineralized zinc-lead trend. The concession has seen
little exploration activity compared to other parts of the
property. During the 1950-1970s, the Polish State conducted
limited diamond drilling (125 holes, 36,787 metres) at a spacing of
200-400 metres over an area of approximately 18 square
kilometres. The majority of the Chechlo concession is
unexplored. At Chechlo, three stratiform zinc-lead
mineralized zones - Western, Northern and Central - are hosted by
the Middle Triassic Dolomite unit known as the Ore-Bearing
Dolomite, which hosts many mines in the Upper Silesian District
and, importantly, mineralization at other parts of Project
Olza. However, at Chechlo mineralization also occurs in
Devonian carbonates underlying the Central Zone, localized in one
or several subvertical breccia pipes. Geological evidence
points to a high potential for locating additional mineralized
breccia pipe systems that, based on other mines in the area such as
Pomorzany, can be of significant size. Historical drilling
indicates grades of 5 to 9% Zn+Pb in the stratiform zones of
variable thickness within locally-stacked mineralized horizons at
130-300 metres in depth. Higher-grade mineralization (e.g.
10% Zn+Pb over 30 metres) was also intersected, and may represent
the mineralized breccia pipes, making them compelling targets.
Rathdowney is finalizing plans for a 5,000-metre drilling campaign
using a relatively high-density pattern on selected targets at
Chechlo and other parts of Project Olza. Building on
experience gained in the Irish Midlands, the Company intends to use
additional techniques such as geophysics to target shallow breccias
and potential feeder-structures. This work is designed to test the
lateral continuity of higher-grade breccia-style mineralization,
along with other targets, to expand the overall mineral resources
on the Olza property. President and CEO John Barry said, "With a
substantial positive initial resource under our belt (see
Rathdowney release dated September 11, 2012), further value
generation will occur by building both tonnage and grade. The
acquisition of Chechlo gives us the opportunity to delineate
significant high-grade zinc-lead resources that would positively
impact the potential economics of the project." 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. The technical information in this release
has been reviewed by David J. Copeland, PEng, a Qualified Person as
defined by NI 43-101. 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. 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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