VANCOUVER, Sept. 27, 2012 /CNW/ - Rathdowney Resources Ltd.
("Rathdowney" or the "Company") (TSX-V: RTH) 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
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."
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.
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.
SOURCE: Rathdowney Resources Ltd.
For further information:
For further details on the Company and its projects, please visit www.rathdowneyresources.com or contact Investor Services at (604) 684-6365 or within North America at 1-800-667-2114.