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Project Olza
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Development & History

OVERVIEW

From the 1950's to 1980's, the Polish State Geological Survey carried out studies in the area of Project Olza, obtaining extensive geological information by means of diamond drilling. The results of this work indicated the presence of significant zinc-lead mineral deposits. Several historical estimates of resources were completed under a Soviet-era classification system.

 

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From mid-2011 to early 2013, Rathdowney completed a successful campaign of confirmatory drilling focused along a trend on the property.  An initial resource estimate was completed in 2014: the current inferred mineral resource of 24.4 million tonnes grading 7.02% Zn+Pb (at a 2% Zn cut-off) is based on both Rathdowney and historical drilling, including additional historical data received to July 2014.
 

Initial metallurgical test work on a composite sample from Rathdowney's drill holes in the resource-area shows that standard flotation treatment will result in two high quality concentrates.

 

Rathdowney commissioned a Preliminary Economic Assessment, results of which were announced in 2015. Additional drilling was also done in late 2014-2015, and the company is currently integrating the results of this work as part of its overall plan to advance project evaluation and development planning, and to support permitting as prescribed for projects in Poland.  

 

The Company plans to update the PEA as financing is available.

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  1. Based on an estimate by D. Gaunt, PGeo., of Hunter Dickinson Services Inc. (effective date July 16, 2014), a QP who is not independent of Rathdowney. The estimate at a 2% Zn cut-off was audited and verified by L. Roberts, MAusIMM(CP) of SRK, who is the independent QP for the estimate in the PEA.

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