Vancouver, B.C. -- Tower Resources Ltd. reports further exploration success from phase one drilling at its 100% controlled JD Property in north-central British Columbia where results continue to expand near surface, gold-silver mineralization at the Finn zone.
Highlights:
- Successful step-out hole (JD-12-015) extends Finn zone mineralization 350 metres north
- Continues to demonstrate near surface gold and silver mineralization characteristic of the Finn zone.
- JD-12-006 intersected; 22.5 metres of 1.93 grams per tonne (g/t) gold (Au) with 36.89 g/t silver (Ag)
- JD-12-011 intersected; 28.90 metres of 1.18 g/t Au with 34.75 g/t Ag
"Drill results from JD-12-015 are extremely encouraging as they confirm gold-silver mineralization extends 350 meters north of the previously known limits of the Finn zone. This new discovery combined with the recently announced footwall mineralization in hole JD-12-009 and westerly step-out mineralization in JD-12-014 significantly increase the size potential of the JD Project going forward. Tower plans to aggressively target these new discoveries during the 2013 field season," stated President Mark Vanry.
Table of selected highlights of length weighted drill intersections:
| Drill Hole1 | From (m) | To (m) | Width2 (m) | Au (g/t) | Ag (g/t) | AuEQ3 (g/t) |
|---|---|---|---|---|---|---|
| JD-12-006 | 14.0 | 18.0 | 4.0 | 0.96 | 52.10 | 1.93 |
| and | 26.0 | 48.5 | 22.5 | 1.93 | 36.89 | 2.62 |
| inc | 29.0 | 35.7 | 6.7 | 5.52 | 110.79 | 7.60 |
| inc | 29.0 | 32.0 | 3.0 | 9.28 | 232.67 | 13.65 |
| JD-12-011 | 79.0 | 107.9 | 28.9 | 1.18 | 34.75 | 1.83 |
| inc | 83.0 | 90.0 | 7.0 | 2.89 | 110.70 | 4.96 |
| JD-12-015 | 5.7 | 13.0 | 7.3 | 0.47 | 1.28 | 0.49 |
| and | 85.0 | 105.0 | 20.0 | 1.55 | 2.42 | 1.60 |
| inc | 94.0 | 100.0 | 6.0 | 3.73 | 3.30 | 3.79 |
| and | 109.0 | 114.0 | 5.0 | 0.62 | 2.04 | 0.65 |
| and | 121.0 | 125.0 | 4.0 | 0.41 | 1.40 | 0.44 |
| and | 127.0 | 131.0 | 4.0 | 0.35 | 0.65 | 0.36 |
| and | 133.0 | 138.0 | 5.0 | 2.43 | 2.03 | 2.46 |
| inc | 136.0 | 138.0 | 2.0 | 5.64 | 4.80 | 5.73 |
| JD-12-018 | 74.0 | 75.0 | 1.0 | 1.08 | 5.30 | 1.18 |
| and | 92.0 | 105.0 | 13.0 | 1.16 | 33.53 | 1.78 |
| and | 117.0 | 118.0 | 1.0 | 1.29 | 5.40 | 1.40 |
| 1. JD-12-006 was collared at 611296E 6367675N (UTM NAD83 Z 9) and drilled with an azimuth of 200° and dip -80° | ||||||
| JD-12-011 was collared at 611167E 6367696N (UTM NAD83 Z 9) and drilled with an azimuth of 200° and dip -80° | ||||||
| JD-12-015 was collared at 611283E 6368091N (UTM NAD83 Z 9) and drilled with an azimuth of 235° and dip -50° | ||||||
| JD-12-018 was collared at 606149E 6361631N (UTM NAD83 Z 9) and drilled with an azimuth of 230° and dip -45° | ||||||
| 2. Widths reported are drill widths. True widths are approximately 96% of drill widths for JD-12-006, 011, and 015. | ||||||
| True width is presently unknown for JD-12-018 | ||||||
| 3. Gold Equivalent (AuEQ) calculations use metal prices as follows: Au $1600/oz and Ag $30/oz. | ||||||
| Recoveries are assumed to be 100% | ||||||
JD-12-015 was collared 460 metres north of JD-12-003 (see Tower's August 29th, 2012 news release) and approximately 350 metres north of the core of the Finn zone. This hole is the furthest step-out beyond the Finn zone that Tower completed in 2012. The hole intersected a thick mineralized zone, likely the down-dip continuation of Finn zone mineralization. The hole intersected 56 metres of strongly mineralized and altered volcaniclastic rocks from 82 to 138 metres down the hole. This mineralized zone consists of five separate intervals, including: 20 metres of 1.55 g/t Au, 5 metres of 0.62 g/t Au, 4 metres of 0.41 g/t Au, 4 metres of 0.35g/t Au and 5 metres of 2.43 g/t Au. Although mineralized with anomalous Au and Ag, the short intervening intervals fall below the 0.3 g/t Au cutoff that Tower has adopted for the project at this time.
JD-12-015 was collared in a large gossan that was not drilled by previous operators. The hole intersected (from surface to 58 metres), a broad interval of disseminated pyrite +/- sphalerite hosted in strongly silca + sericite altered and locally hydrothermally micro-brecciated andesite. The base of this zone is in gradational contact with Finn zone style siliceous breccias which contain disseminated pyrite with lesser chalcopyrite and vein hosted galena. At 92 metres the breccias grade into chlorite + epidote altered andesite crystal tuffs with disseminated pyrite and local quartz + galena veins.
JD-12-006 was collared on the same pad as JD-12-005, 75 metres east of JD-12-003. The hole was designed to test the continuity of gold mineralization within the core of the Finn zone. The hole intersected a 22.5 metre interval of 1.93 g/t Au with 36.89 g/t Ag (2.62 g/t Au equivalent) highlighted by a 3 metre interval of 9.28 g/t Au with 232.67 g/t Ag (13.65 g/t Au equivalent). The hole intersected typical Finn zone lithologies, alteration assemblages and mineralization consisting of pyritic and weakly sericite + chlorite altered plagioclase porphyritic andesite that is in gradational contact at 40 metres with a strongly silica and sericite altered and brecciated zone within a volcaniclastic unit. Here, sulphide minerals in the form of pyrite, sphalerite and local chalcopyrite predominate as disseminations and locally vein hosted. This siliceous zone at 49 metres is in fault contact below with sericite + chlorite + pyrite altered plagioclase porphyritic andesite with local zones of strong epidote and hematite alteration.
JD-12-011 was collared on the same pad as JD-12-010, 80 metres northwest of JD-12-003. The hole was designed to test the continuity of gold mineralization in the western extent of the Finn zone.
JD-12-018 was collared in the Moosehorn zone located 7.8 kilometers southwest of the Finn zone. Although the main Moosehorn target was not intersected due to the poor quality of historic drill maps, a 13 metre interval of 1.78 g/t Au equivalent was intersected. The hole was collared in sericite + hematite altered feldspar porphyritic andesite flows that are in gradational contact with silica healed breccias at 98 metres that extend to 114 metres. The hole bottomed in feldspar porphyritic andesite.
JD-12-016 was collared on the same pad as JD-12-015 but was drilled vertically. The hole intersected similar grade in its upper portion as JD-12-015, but was terminated at 80 metres due to poor drilling conditions. JD-12-017 was collared on the same pad as JD-12-018 but was drilled with an azimuth of 045o and a dip of -60o. No significant values were returned from this hole.
A map of the current reported drill hole locations will be posted on Tower's website: www.towerresources.ca
The JD Property is comprised of over 15,000 hectares in 42 claims located 200 kilometres east of Dease Lake, BC, and approximately 50 kilometres north of Aurico Gold Inc.'s past producing Kemess Mine in the Omineca mining district of British Columbia.
Quality Assurance and Control:
The 2012 drilling and sampling program at JD was supervised by Christopher Leslie, M.Sc., Vice President, Exploration for Tower Resources. The technical and scientific nature of this news release was supervised, reviewed and approved by Ken Thorsen, B.Sc., P.Eng., and consultant to the Company, who serves as a Qualified Person under the definition of National Instrument 43-101.
Core samples were prepared at Tower's core logging facility at the JD camp and shipped in sealed and secure bags to Acme Analytical Laboratories preparation lab in Smithers, BC. Here, samples were prepared using standard preparation procedures. Samples were then analyzed at Acme's Vancouver, BC laboratory for gold by 30 gram fire assay fusion with AAS finish; samples that yielded results greater than 10g/t Au were re-assayed using a 30 gram fire assay with a gravimetric finish. 36 elements, including silver, lead and zinc, were analysed by ICP-MS using an aqua regia digestion. Over-limit (>100 ppm) silver was re-analysed by a 30 gram fire assay with gravimetric finish. Over-limit lead and zinc (>1%) was re-analysed by ICP-ES finish using an aqua regia digestion. Quality assurance and quality control procedures include the systematic insertion of blanks, certified standards and duplicate samples into the sample stream followed by careful monitoring of results.
Reported length weighted intervals are calculated using a 0.3g/t Au cut off for bounding assays unless stated otherwise. Assays below the cut off are only used if it's grade and the grade of the neighbouring assay averages greater than 0.3 g/t Au. Reported grade intervals are based on the uncut fire assay certificates received from the lab.
Tower Resources Ltd.
Mark Vanry - Director, CEO & President
(604) 558-2565
www.towerresources.ca
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
This news release contains certain "forward-looking statements", as defined in the United States Private Securities Litigation Reform Act of 1995, and within the meaning of Canadian securities legislation. The Company cautions that forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made and they involve a number of risks and uncertainties. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. The Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change, except as required by law. There are numerous risks and uncertainties that could cause actual results and Towers plans and objectives to differ materially from those expressed in the forward-looking information. The reader is urged to refer to the Company's public disclosure which is available through the Canadian Securities Administrators' System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com for a more complete discussion of such risk factors and their potential effects.