Vancouver, B.C. -- Tower Resources Ltd. is pleased to report the results of three additional diamond drill holes from phase one drilling at its 100% controlled JD property in north central British Columbia.
Selected diamond drill highlights:
- Tower continues to demonstrate the near surface gold and silver mineralization characteristic of the Finn Zone at the JD property
- JD-12-009 intersected from surface; 18.0 metres of 1.74 grams per tonne (g/t) gold (Au) in a step out hole collared in the footwall to the Finn zone
- JD-12-007 intersected; 28.0 metres of 2.72 g/t Au and 8.0 g/t silver (Ag)
- JD-12-004 intersected; 17.5 metres of 1.41 g/t Au and 28.61 g/t Ag
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)|
1. JD-12-004 was collared at 611225E 6367637N (UTM NAD83 Z 9) and drilled with an azimuth of 200° and dip -80°
JD-12-007 was collared at 611323E 6367663N (UTM NAD83 Z 9) and drilled with an azimuth of 200° and dip -50°
JD-12-009 was collared at 611302E 6367557N (UTM NAD83 Z 9) and drilled with an azimuth of 200° and dip -45°
2. Widths reported are drill widths. True widths are approximately 96% of drill widths.
3. Gold Equivalent (AuEQ) calculations use metal prices as follows: Au $1600/oz and Ag $30/oz.
Recoveries are assumed to be 100%
Mark Vanry, Tower's Chief Executive Officer states, "We are very encouraged by these new results, specifically drill hole JD-12-009 which was collared in rocks that apparently lie below the core of the Finn zone. Owing to the fact that Tower, unlike prior operators, has strategically chosen to assay the entirety of each drill hole, we have a new appreciation for the potential of this area." Mr. Vanry also notes, "This new understanding of near-surface footwall mineralization south-east of the Finn zone core opens up a zone that definitely warrants detailed follow-up"
JD-12-009 was a step out hole collared 115 meters southeast of JD-12-003 and was designed to test the continuity of gold mineralization in the footwall to the Finn zone where historic drilling is sparse. From surface to 56 metres, the hole intersected a strongly mineralized zone that includes four separate zones, including: 18 metres of 1.74 g/t Au, 11 metres of 2.48 g/t Au, 2 metres of 10.38 g/t Au, and 5 metres of 0.70 g/t Au. The intervening intervals fall below the 0.3 g/t cutoff that Tower has adopted for the project at this time. The hole intersected silica + sericite + chlorite altered plagioclase porphyritic andesite mineralized with disseminated pyrite and vein hosted galena and sphalerite. The intensity of silica alteration noticeably increased from 10 to 33 meters where silicification was accompanied by hydrothermal brecciation and sulphide mineralization. Importantly, the few holes that were historically drilled in this area were selectively sampled therefore this style of near consistent mineralization was not known until JD-12-009.
JD-12-004 was collared on the same drill pad as JD-12-003 but was drilled with a different dip. JD-12-007 was collared 100 metres east of JD-12-004. Both holes were designed to test the continuity of gold mineralization within the core of the Finn Zone. Both holes intersected typical Finn zone lithologies, alteration assemblages and mineralization consisting of pyritic and weakly sericite + chlorite altered plagioclase porphyritic andesite that grades into a strongly silica and sericite altered and brecciated zone within a volcaniclastic unit. Here, sulphide minerals in the form of pyrite, galena, sphalerite and local chalcopyrite predominate as disseminations, matrix fill and vein hosted. This siliceous zone grades below into sericite + chlorite + pyrite altered ash tuffs with local zones of strong epidote and hematite alteration.
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. The JD Property is 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
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.
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.