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VANCOUVER, BC, January 7, 2022 / CNW / – Rathdowney Resources Ltd. (“Rathdowney” or the “Company”) (TSXV: RTH) announces that it has received the final tranche of its previously announced private placement (July 29, 2021) by issuing 10,142,857 units for gross proceeds of $ 355,000. The company has therefore issued a total of 38,964,853 units and in total $ 1,363,770 under the private placement. In addition, the company also has a debt settlement of $ 500,000 as announced on December 31, 2021which, together with the private placement, totaled $ 1,863,769.
About Rathdowney and the Olza project
Rathdowney Resources Ltd. focuses on the further development of its zinc-lead-silver project Olza in Poland.
The Olza Project is located in the Upper Silesia Mining District, a prime region of Mississippi Valley-type deposits with well-developed mining infrastructure. The Olza project site is easily accessible by road and is an hour’s drive from Krakow, a major city with full services, including an international airport. The Olza deposits are 25 km from the ZGH zinc smelter Boleslaw. A railway line runs through the Olza project area, connecting it to the local facilities and other huts via ports on the Baltic Sea.
A preliminary economic assessment published in early 2015 shows strong potential financial returns for a 6,000 tpd underground operation and conventional processing plant producing marketable zinc and lead concentrates.[1]. Since then, the company has advanced the project with additional core drilling for geotechnical and resource information; extensive geological interpretation, project planning; extensive hydrology studies lasting several years; Asset assessments; Infrastructure assessment (electricity, roads, etc.); Studies of the existing community environment and local socio-economic fabric; and extensive multi-year environmental and land use planning and zoning to prepare the project for approval and move towards a mining license.
David Copeland, P.Eng., Chairman of Rathdowney and a Qualified Person as defined by NI 43-101, has reviewed and approved the technical information in this news release.
On behalf of the board
David Copeland, P.Eng.
Chairperson
Neither the TSX Venture Exchange nor its regulator (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.
This press release contains certain statements that may be considered “forward-looking statements”. All statements in this press release, other than historical facts, regarding exploration drilling, exploration activity, and events or developments that the company anticipates, are forward-looking statements. Although the company believes that the expectations expressed in such forward-looking statements are based on reasonable assumptions, these statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. The assumptions that the company uses to develop forward-looking statements include the following: The Olza Project will receive all required environmental and other permits, as well as all land use and other licenses, studies and development of the Olza Project will continue to be positive and no geological or technical problems arise. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploration and exploration successes, continuity of mineralization, potential environmental problems and liabilities related to exploration, development and mining activities, uncertainties in Regarding the ability to obtain required permits, licenses and titles, and delays due to third party opposition, changes in government policy regarding mining and the exploration and exploitation of natural resources, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that such statements are no guarantees of future performance and that actual results or developments may differ materially from those forecast in the forward-looking statements. For more information about the Company, investors should read the Company’s Continuing Disclosure Statements, which are available at www.sedar.com.
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[1] For further details, please see Rathdowney’s April 20, 2015 press release and PEA’s technical report, which was posted on the company’s website and on its profile at www.sedar.com. |
SOURCE Rathdowney Resources Ltd.
View original content: http://www.newswire.ca/en/releases/archive/January2022/07/c7471.html
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