Vancouver, B.C. -- Tower Resources Ltd. reports exploration results from its recently completed 2013 program at Tower's 100% controlled JD Project. The JD Property is comprised of over 15,000 hectares located approximately 50 kilometers north of Aurico Gold Inc's past producing Kemess Mine.
Tower discovered a significant porphyry related hydrothermal alteration system in which classic alteration, mineralization and veining were encountered in three holes along a strike length of 850 metres. The dominantly phyllic (quartz + sericite + pyrite) alteration with anomalous copper mineralization is believed to be related to a deeper copper (Cu) mineralized porphyry system as one hole (JD-13-025) bottomed in 1.4 metres of 4665 parts per million (ppm) Cu hosted in an altered intrusion at 229 metres down-hole. Furthermore, the three holes tested only a small portion of an IP (Induced Polarization) chargeability anomaly Tower identified earlier in the program. The chargeability anomaly is largely coincident with a poly-element (copper, gold, silver, and tellurium) soil geochemical anomaly and an 800 by 800 magnetic anomaly identified in an historic airborne geophysical survey. Together, Tower concludes that a program including a deep penetrating IP surveys followed by a diamond drilling program are warranted in the area of JD-13-025 to fully test the porphyry potential of the JD Project.
The style and scale of phyllic alteration overprinting potassic alteration and mineralization discovered by Tower is comparable to the mineralized system at the nearby Kemess North copper and gold porphyry project (100 million tonne mineral reserve at 0.56 grams per tonne (g/t) Au with 0.28% Cu; 43-101 Technical Report, December 31, 2012) currently being advanced by Aurico Gold Inc. At Kemess North, porphyry mineralization is found below a thick halo of mostly barren phyllic alteration which commonly extends to depths greater than 150 metres from surface. The Kemess North project is approximately 40 kilometers south of the JD project.
President Mark Vanry states, "We completed the 2013 exploration program within budget and made a new discovery to cap off a successful program at JD. The size and nature of the alteration system we discovered indicates that a robust porphyry related hydrothermal system underlies the eastern side of the JD project. The presence of anomalous copper mineralization throughout this alteration zone bodes well for the discovery of higher grade mineralization with further exploration."
Tower designed its 2013 exploration program to build on encouraging results obtained from its Phase 1 2012 program concentrated within and near the Finn Zone. The 2013 program consisted of 11 line kilometers of Induced Polarization (IP) l surveys and 2100 metres of exploration drilling.
Induced Polarization Geophysical Survey
The IP survey covered a grid with a footprint of roughly 1.6 by 2 kilometers with lines spaced 200 and 400 metres apart. Three lines spaced 200 metres apart were run over the known extent of the Finn Zone to establish a geophysical baseline for chargeability and resistivity response associated with epithermal related mineralization and alteration. Two lines spaced 400 metres apart were also run east and topographically below the Finn Zone where a poly-element geochemical anomaly identified in 2012 and a coincident large (roughly 800 by 800 metres in dimension) geophysical magnetic anomaly exists. Previous to the IP survey, Tower's technical team speculated that these features may represent a buried porphyry system. The IP survey was carried out by Scott Geophysics Ltd. of Vancouver from July 19th to August 1st, 2013.
IP line 11N, located east of the Finn Zone returned a 900 meter long +16 mV/V chargeability anomaly partially coincident with a magnetic and geochemical anomaly. The closest historic drill hole is over 900 metres northwest on the Finn Zone grid. Line 10N, located 400 metres west of line 11N returned similar results where the strongest chargeability response were on the northern and southern ends of the array, 1.6 km apart, in areas of lower topography. There is a uniform increase in chargeability along this line with depth suggesting that below the relatively flat-lying Toodoggone Fm. volcanic rocks the same anomaly seen in line 11N exists. Together, these anomalies were tested with 3 diamond drill holes; JD-13-025, JD-13-026 and JD-13-028.
Please refer to map of the IP survey posted on Tower's website (www.towerresources.ca).
The 2013 diamond drill program was designed to investigate the continuity of gold and silver mineralization between the Finn Zone and step-out hole JD-12-015 drilled in 2012 (see October 11th, 2012 News Release) and the extent of mineralization along strike to the west and east from the Finn Zone. Furthermore, Tower tested new target areas identified in the IP survey. Please refer to drill hole map posted on Tower's website.
Drill hole JD-13-025 tested the southern fringe of the northern chargeability anomaly on IP line 10N. The hole collared in chlorite + epidote altered plagioclase porphyritic volcanic rocks which transitioned into intense phyllic alteration characterized by strong quartz-sericite-pyrite alteration at 55 metres down-hole. Throughout this zone disseminated and vein hosted pyrite +/- chalcopyrite persists with local small intervals with highly elevated copper mineralization consisting of chalcopyrite (e.g., 3 metres of 0.94% Cu with 14g/t Ag at 66 metres). Clots of pyrite are ubiquitous throughout and replace mafic phenocrysts. At 210 metres early potassic alteration assemblages characterized by potassium feldspar and magnetite associated with quartz-pyrite veins predominates as sharp vein halos. The parent augite + plagioclase porphryritic volcanic rocks are in contact with an altered feldspar porphyritic quartz monzonite intrusion at 220 metres. A quartz stockwork zone mineralized with pyrite and chalcopyrite overprinting the altered intrusion at 228 metres was encountered. The hole ended at 230.12 metres and bottomed in 1.4 metres of 4665ppm Cu with 3.4 g/t Ag.
Drill hole JD-13-028 was designed to test the northern extent of the IP chargeability anomaly identified along IP line 11N. This hole collared 500 metres south of JD-13-025. The hole intersected varying degrees of QSP alteration with local zones where an earlier potassic alteration assemblage was observed. The hole contained a wide interval of anomalous copper mineralization (i.e., 321 metres of 333 ppm Cu from surface).
Drill hole JD-13-026 was drilled near the center of the chargeability anomaly identified in IP line 11N. This hole collared 850 metres south of JD-13-025. From collar to end of hole the hole intersected near continuous intense QSP alteration overprinting what is interpreted to be Takla Group intermediate volcanic rocks. This alteration is characterized by intense quartz + sericite alteration cut by polyphase vein-sets composed of varying quartz-sulphide, calcite, gypsum/anhydrite, fluorite, and sericite assemblages. Local zones of intense hydrothermal brecciation with cuspate walled clasts were also observed as well as zones of intense early (?) magnetite alteration. This high-level portion of the hydrothermal system appears to be barren as no economic concentrations of copper or gold were intersected other than a short interval of higher grade gold mineralization at 310 metres (i.e., 2 metres of 6.03 g/t Au).
Drill hole JD-13-024 was collared west of the Finn Zone in hanging wall volcanic rocks to the Finn Zone structure. This hole was designed to test the western extent of mineralization along strike from the Finn Zone. The hole is 400 metres northwest of drill hole JD-12-014 (see Tower's September 27th, 2012 News Release) which was Tower's western most hole near the Finn Zone. Drill hole JD-13-024 intersected Finn Zone style mineralization highlighted by a 7 metres assaying 2.89g/t Au with 32.5g/t Ag from 118 metres down hole. This interval is characterized by strong silica alteration cut by quartz + pyrite + galena +/- chalcopyrite veins. Although the grade of this interval is not as high as the core of the Finn Zone, Tower is highly encouraged by the presence of gold and silver mineralization hosted in the same volcano-stratigraphic unit 400 metres west of the Finn Zone.
Drill holes JD-13-019 and JD-13-020 were collared on a large gossanous slope between the Finn Zone grid and drill hole JD-12-015. Hole JD-13-019, drilled on a 200o azimuth, intersected intense clay + sericite + pyrite altered plagioclase porphyritic volcanic rocks to 98 metres which transitioned into moderate carbonate + epidote altered volcanic rocks cut by quartz + sulphide veins with strong potassium feldspar alteration halos. This hole contained anomalous intervals of copper and gold mineralization but did not intersect Finn Zone style epithermal related mineralization. Hole, JD-13-020, drilled on a 020o azimuth, failed to reach target depth but still intersected anomalous gold and silver mineralization from 152 to 188 metres down hole. This style of alteration and mineralization was similar to that in JD-12-015 where an intersection of 1.55g/t Au over 20 metres was returned in 2012.
Drill hole JD-13-021 was collared 95 metres west of JD-12-015. The hole intersected local zones of anomalous gold and silver mineralization from 113 to 179 metres down-hole associated with moderate silica + sericite alteration with disseminated pyrite cut by late carbonate veins.
Drill holes JD-13-022 and JD-13-023 were collared east of the Finn Zone (i.e., 380 metres east northeast of drill hole JD-12-008; see Tower's October 2nd, 2012 News Release) designed to test an IP chargeability anomaly identified earlier in the program. JD-13-022 returned two intervals of anomalous copper mineralization hosted in propylitically altered (epidote + chlorite + calcite) volcanic rocks. Anomalous zones of copper, gold and silver mineralization were also encountered in JD-13-023 associated with pervasive quartz + sulphide veins cutting propylitically altered volcanic rocks.
Drill hole JD-13-027 was designed to test Tower's structural theory relating to an eastern down-faulted continuation of the same volcano-stratigraphic horizon that hosts the Finn Zone. The hole intersected typical Finn Zone hanging-wall volcanic rocks and was terminated prior to target depths due to drilling conditions.
Table of selected highlights of length weighted drill intersections:
|Drill Hole1||From (m)||To (m)||Width2 (m)||Au (g/t)||Ag (ppm)||Cu (ppm)|
1. Refer to collar table for hole locations
2. Widths reported are drill widths. True widths are unknown.
Quality Assurance and Control:
The 2013 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.
Table of Drill Hole Locations
|Hole ID||Easting||Northing||Azimuth (°)||Dip (°)||Total Depth (m)|
Collar Coordinates: NAD83 UTM Zone 9
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, copper, 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.
Tower Resources Ltd.
Mark Vanry - Director, CEO & President
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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.