Epithermal gold and silver mineralization and porphyry copper and gold mineralization
The Nechako Gold property comprises 10 mineral tenures totalling 2,975 hectares in the Nechako Plateau Region of central British Columbia. The property consists of two option agreements, Porphyry and Chutanli, to acquire 100% interest subject to a 1.5% NSR on each agreement.
The road-accessible Nechako gold property is approximately 30 kilometres northeast of New Gold Inc.'s significant Blackwater development project. Blackwater contains a proven and probable total mineral reserve of 8.2 million ounces of gold with 60.8 million ounces of silver (source: New Gold Inc. website). The centre of the property is approximately 80 kilometres south of Vanderhoof, BC.
Geology and Historic Exploration
The Nechako Gold property is deemed prospective for Blackwater-type epithermal gold and silver mineralization and porphyry-related copper and gold mineralization. The property is underlain by rocks of the prospective Nechako Uplift which comprise volcanic, volcaniclastic, and siliclastic rocks of the lower to middle Jurassic Hazelton and middle to upper Jurassic Bowser Lake groups. These basement rocks are locally overlain by upper Cretaceous Kasalka group arc related volcanic rocks. The Jurassic to upper Cretaceous rocks are intruded by Jurassic, late Cretaceous and locally Eocene aged felsic plutons and plugs. The regional volcano-stratigraphy of the belt is dominantly striking to the northwest and is cut by high angle north to northeast trending normal faults. Most of the property is covered by a blanket of glacial till.
Historic exploration by Rio and Placer Dome, in the late 1960s and early 1990s respectively, outlined a near surface copper and gold porphyry system hosted near a contact between volcaniclastic rocks of the Kasalka group (?) and a late Cretaceous (?) monzonite plug. This mineralized area is historically known as the CH zone. Mineralization at the CH zone is interpreted, based on historic drill sections and geophysical data, to be open in most directions and at depth. Recent exploration programs consisting of induced polarization geophysical surveys, soil geochemical surveys, geological mapping and prospecting surveys and diamond drilling coupled with regional till geochemical and airborne magnetic data (BC government survey and Geoscience BC data), outline a compelling epithermal gold and silver target located southeast of the CH zone. Tower will systematically explore the property for both types of mineralization.
The technical contents of this website were reviewed by Christopher Leslie, M.Sc., P.Geo., VP Exploration and a Qualified Person as defined by National Instrument 43-101. The information provided in this website is provided solely for general knowledge purposes and may contain data historical in nature which has been compiled from sources believed to be accurate. The historical technical information has not been verified by Tower and may in some instances be unverifiable dependent on the existence of historical drill core, trench and grab samples. This website is not intended to be a comprehensive review of all matters and developments concerning the Company and the Company assumes no responsibility for its completeness, accuracy and currency. Although information used in this website is believed to be accurate as at the date hereof, it may not be accurate when read. The Company does not undertake to update any of the information provided in this website. For current information please refer to the Company's filings on SEDAR (www.sedar.com) or contact the Company