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Rathdowney Resources Ltd.
Summary
| Project: | Olza | |
|---|---|---|
| Deposit: | Olza | |
| Location: | Poland | |
| Commodities: | Zinc-Lead | |
| Date: | 8/27/2019 | |
| Report Code: | NI43-101 | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 27-8-2019: Rathdowney Resources Ltd. announces a Resource Estimation report for its Olza deposit at the Olza project. Exploration Target range announced for project. August 27, 2019, Vancouver, BC – Rathdowney Resources Ltd. (“Rathdowney” or the “Company” | |
| Resources: | Exploration Target: 54 - 92Mt @ 3.9-5.2% Zn and 1.0-1.3% Pb | |
| CP/QP: | [Overall Report]: David Copeland (Internal) | |
| ABSTRACT: | August 27, 2019, Vancouver, BC – Rathdowney Resources Ltd. (“Rathdowney” or the “Company”) (TSX‐V: RTH) is pleased to provide an update on its 100%-owned Olza zinc-lead-silver project (“Project Olza”) in Poland. Situated in the heart of Europe, Project Olza has easy access to smelters and markets for its zinc and lead products. Also, owing to its location in a region with a long and prosperous mining history, development and production will benefit from a locally based, skilled workforce and access by paved roads within a one-hour drive from Krakow and Katowice, two major cities with full services and international airports. 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. All these characteristics will support efficient development of a mine at Olza. 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 has 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)4. As only 30% of the area of historical core drilling at Project Olza has been tested by Rathdowney’s confirmatory core drilling program, the opportunities to increase the mineral resources and support a long life mine at Project Olza are excellent. An Exploration Target Range study in 2019 further assessed the potential in the remaining 70% of the area of the historical drilling but outside of the area of Rathdowney’s current mineral resource. Using geostatistical 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% lead5. This Exploration Target Range is conceptual in nature and is not a mineral resource estimate. | |
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