Positive Results from on-going drilling at Project Olza, Poland
April 2, 2012, Vancouver, BC – Rathdowney Resources Ltd. (“Rathdowney” or the Company”) (TSXV: RTH) is pleased to announce new diamond drilling results from the Olza zinc and lead project in southern Poland which continue to confirm the grade and thickness of the mineralization.
Project Olza is a Mississippi Valley Type (MVT) zinc-lead project located in the historic Silesian MVT mining district of Poland. This area has extensive mining infrastructure including power and rail, and is also near a zinc smelter which is expected to have additional smelting capacity when the Pomorzany mine closes in the next 3 to 5 years.
Zinc-lead deposits are known to occur at Olza as indicated by over 1,500 diamond drill holes, completed by the Polish State Geological Institute, as well as a number of historical resource estimates. Historical estimates for Zawiercie I and II are shown in the table on page 2, with a note confirming their non-conformance with National Instrument (NI) 43-101 requirements. Zawiercie I and II are potentially one continuous deposit, whereas historically they were estimated separately based on the geologic understanding and the drilling density at that time. The focus of the current work is on these deposits where new drilling is continuing to confirm the historical results. The drill hole pattern is designed to optimize the testing and verification of mineralization within the area of historic drilling. “A very encouraging picture is emerging from these results,” stated John Barry, President and CEO. “Our goal is to deliver a NI 43-101 compliant resource by mid-year.”
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