The prospects for zinc projects in
According to the
An example of this move into advanced manufacturing using copper and zinc is a recent German/Polish joint venture in which the primary and electrical components for electric cars are being cast, machined and installed in
Although zinc smelters in most of
To that end, Rathdowney has continued to progress with a number of studies directed toward planning a modern mine, with all key items leading to completion of final documents needed for the submission for a Mining License. These include:
- Completion of multiple years of environmental field studies of water resources, soils/contaminates, atmospheric conditions, vegetation types, trees, fauna, existing communities, and industries, including data collection, analysis, variability review, and most importantly, regional climatic repeat events. Progress on this work continues in tandem with development of the overall documentation volumes.
- Advancement of the
Mining Development program, known as the PZZ in the Polish permitting framework. This multi-document compendium relies extensively on field work, geological and resource documentation, geotechnical studies, extensive ground water studies, mine design and operations planning, assessments of the use of and interface with existing infrastructure, including industrial infrastructure, availability of material suppliers/contractors, and those portions of the community retail and services in the immediate area.
The work is important to all stakeholders and our potential mine development, as it also includes assessments of the current underground water conditions. A key objective for us is to, at a minimum to preserve if not improve surface and underground water conditions. Our corporate standards and Polish government regulations require underground development that ensures surface stability, and to develop and operate processing and mine facilities that minimize impacts on the community and are compatible with existing roads and traffic. Our planning also addresses air quality, progressive reforestation and site grooming in areas of potential crushed waste rock material storage, consideration of wildlife and vegetation, and minimizing and mitigating industrial noise and light spill by, for example, using lighting directive shades or plantings of mature tree groups as screens near areas of existing habitation.
A key development in
Rathdowney welcomes this direction and is committed to best practices in mine development. This commitment draws from its strong record of accomplishments through its affiliation with
"Our experience as part of the HDI group, has shown us that any modern mining operation must adhere to the highest standards. This includes respecting environmental concerns, engaging and consulting with communities and other stakeholders/employees, maintaining a safe workplace, offering fair wages and ensuring overall adherence to the rule of law. This is demonstrated by the work that HDI has completed on successful projects, including the exploration and pre-operation phases at the
About Rathdowney and Project Olza
A Preliminary Economic Assessment ("PEA")3 announced in early 2015 indicates strong potential financial returns for an underground operation and conventional treatment facility, producing marketable zinc and lead concentrates. The PEA is preliminary in nature and includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves. There is no certainty that the PEA will be realized.
On behalf of the Board of Directors
David J. Copeland
Chairman
Neither the
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. Assumptions used by the Company to develop forward-looking statements include the following: the Olza project will obtain all required environmental and other permits and all land use and other licenses, studies and development of the Olza project will continue to be positive, and no geological or technical problems will occur. 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 and liabilities associated with exploration, development and mining activities, 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.
1Closing price by KITCO | |
2 https://www.abc.net.au/news/rural/2022-01-29/zinc-price-rises-increasing-cost-of-renewable-energy-projects/100780146 | |
3 For a 6,000 tonnes per day underground mine with conventional, on-site processing facilities and forecast metal prices for Zn: | |
4 www.trade.gov/country-commercial-guides/Poland-advanced-manufacturing | |
5 https://group-media.mercedes-benz.com/marsMediaSite/en/instance/ko/New-site-in-the-global-battery-production-network-Mercedes-Benz-Cars-to-build-battery-factory-in-Jawor-Poland.xhtml?oid=42365055 | |
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