41.4 m grading 7.67% Zn+Pb & 23.5 g/t Ag, including 19 m of 12.41 Zn+Pb & 40.7 g/t Ag intersected in hole 224
VANCOUVER, April 30, 2013 /CNW/ - Rathdowney Resources Ltd. ("Rathdowney" or the Company") (TSXV: RTH) is pleased to announce new results from core drilling on the Chechlo concession at its Project Olza, located 70 km northwest of Krakow in southern Poland. Olza is a Mississippi Valley Type (MVT) Zinc-Lead-Silver project situated in the historic Silesian mining district, an area with long term production and extensive infrastructure including power, rail and other facilities to support mine development.
In September 2012, Rathdowney reached a major milestone for Project Olza with the release of an initial estimate of substantial zinc-lead mineral resources: 21.2 million tonnes in the inferred category grading 7.42% combined zinc and lead at a 2.0% zinc cutoff.1 This resource is located on the Zawiercie and Rokitno exploration concessions, within a 9-square kilometer area of the large and prospective Olza property.
More recent drilling has taken place at the Chechlo prospect, approximately 15 km southeast of the initial resource-area. Rathdowney drilled two holes within an area where widely-spaced drilling took place, historically. The results are particularly compelling, as a new style of mineralization has been identified.
The Chechlo drilling has intersected mineralization in dolomite units of Devonian age as well as in the Triassic "ore-bearing dolomite" which hosts the current resources at Olza and much of the mineralization in the mines of the Silesian district. The style of mineralization in the Devonian strata had not previously been encountered in Rathdowney's successful drilling program at Project Olza.
The new assay data, tabulated below, is for holes OLZ-224 and OLZ-225. Intersections of mineralization in Devonian dolomite are shown in bold print. A drill hole location map is posted on the Rathdowney website at http://rathdowneyresources.com/i/rdr/pdf/RTH_NR_DDH_29Apr2013.pdf.
| Drill Hole
|All diamond core holes were drilled vertically through the sub-horizontal mineralized|
|horizons so intersections represent approximate true widths. Figures may not sum exactly due to rounding.|
1 Individual grades are 5.88% zinc and 1.54% lead. For further details see Rathdowney News Release dated September 11, 2012.
"Our drilling shows that the Chechlo prospect hosts zinc, lead and silver mineralization of significant grades and thicknesses within underlying older dolomite units that we have not previously explored," stated President and CEO John Barry. "Importantly, the presence of this new style of mineralization in the Devonian strata at Chechlo indicates the opportunity for its discovery in other parts of Rathdowney's exploration concessions."
"Project Olza is a strategic and expandable zinc-lead project situated in the heart of Europe that, clearly, could assist Europe, Poland and the Silesian region in terms of security of indigenous metal supply," said Barry. "Our work has confirmed that the Olza concessions host a significant mineral resource with excellent expansion potential. The project is located in a brownfield setting, connected by rail to the fully-integrated mining infrastructure at nearby Boleslaw that is currently supplied by mines nearing the end of their operating life. These are key advantages and provide the basis for data collecting, engineering and community engagement activities that are currently underway to advance 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 Poland and Ireland. 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 Mark Rebagliati, P.Eng, a Qualified Person as defined by NI 43-101.
President & CEO
|Sample preparation and analysis for Project Olza is done at ISO 17025:20 05 accredited Omac Laboratories Ltd. (Stewart Group/ALS Laboratory Group) in Loughrea, Ireland. All samples are assayed for zinc, lead and silver by HNO3, KCLO4 and HBr and the final solution in dilute Aqua Regia is determined by Inductively Coupled Plasma-Optical Emission Spectroscopy (ICP‐OES) finish. These three elements and 42 additional elements are also determined for all samples by 4 acid digestion, followed by ICP‐OES finish. As part of a comprehensive QA/QC program, one standard and one replicate are inserted into the sample stream in each group of 20 samples, as well as one or more blanks in each analytical batch.|
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, 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.
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