Vancouver, B.C. - Tower Resources Ltd., (TSX.V: TWR) reports results from it's 2012 property-scale exploration program completed in conjunction with its previously reported diamond drill program at its 100% controlled JD epithermal gold (Au) and silver (Ag) property in the Toodoggone gold district of north central British Columbia. The JD Property is comprised of over 15,000 hectares located 200 kilometres east of Dease Lake, BC and approximately 50 kilometres north of Aurico Gold Inc's past producing Kemess Mine.
Tower's 2012 JD Property exploration program consisted of focused diamond drilling, soil geochemical surveys, geological mapping and rock-chip sampling. The drill program consisted of 18 diamond drill holes totalling 2966 metres focused mainly on the Finn zone and its potential extensions (see Tower's August 29, 2012 News Release). In addition, a total of 106 grab and chip samples and 2067 soil samples were collected for geochemical analyses.
Interpretation of these new data show that epithermal related near surface gold and silver mineralization is widespread and is not restricted to areas peripheral to the Finn zone. Mineralization has been identified locally in outcrop over a large area comprising 3.0 by 1.7 kilometres and these areas are typically coincident with soil geochemical anomalies. New areas with anomalous soil geochemistry are also identified that represent priority targets for 2013 evaluation.
Rock samples were collected from outcrops, subcrops, and historic trenches encountered while prospecting and mapping. The program goal was to confirm the grade, style and nature of precious metal mineralization reported in historic reports from the property and to identify new areas of mineralization that would warrant follow up. Based on the results, two new target areas were identified including the Wolf and MVT zones.
Table of Highlights from 2012 Rock Samples
|Area||Sample||Type||Au (g/t)||Ag (g/t)|
Tower acknowledges that grab samples are selective in nature and that assays from the samples may not be representative of all mineralization on the property.
The Wolf zone target is 1.5 kilometres west of the Finn zone where mineralization is best exposed in one historic trench. Mineralization is exposed over an area of 90 by 50 meters and is not associated with or hosted by the property scale low angle fault (or volcanic unconformity) that hosts Finn zone and Ag Carbonate zone mineralization. The Wolf target is characterized by numerous discrete zones up to three meters wide of strongly oxidized hydrothermal breccias overprinted by silca + clay and cut by quartz + carbonate + sulphide veins and local vein stockwork. A grab sample from one of the stockwork zones assayed 35.4g/t Au with 44.8 g/t Ag (sample 1710255). Eighty meters north of the Wolf trench, sample 1710556 was collected from outcrop containing abundant carbonate + quartz + black sulphide veins cutting feldspar porphyritic andesite. This sample assayed 1577 g/t Ag with 2.04 g/t Au. This area has not been sufficiently drill tested and therefore warrants detailed follow up.
The MVT target area is 630 meters southwest of the Finn zone where historic trenching has exposed at least 300 meters of near-continuous structurally hosted gold and silver mineralization. The target is characterized as gossanous northwest striking narrow zones of intense quartz - sericite - pyrite alteration overprinting brecciated feldspar porphyritic andesite locally cut by quartz + carbonate veins carrying pyrite +/- galena and chalcopyrite. A 1.5 meter chip sample from one of these zones assayed 7.59 g/t Au with 16.6 g/t Ag (sample 1713462). This area has not been historically drill tested and at present the relationship between mineralization at the MVT target and the Finn Zone is not well understood.
Sampling of other targets such as the Schmitt and Ag Carbonate zones returned impressive gold and silver values and warrant follow up. For example, sample 1710256 from the Schmitt zone (hematitic siliceous breccia) returned high grade assays in both gold and silver (e.g., 18.9 g/t Au and 300 g/t Ag). The overall extent and character of mineralization at Schmitt is not presently known due to overburden cover and insufficient historic trenching. The Ag Carbonate zone also yielded significant values such as 14.8 g/t Au and 910 g/t Ag from a sample of strongly oxidized and hematite bearing carbonate + silica altered breccia (sample 1710529). The extent of this zone is not presently known other than what is exposed in historic trenching.
Soil sampling was completed on a property-scale 100 meter grid aimed at expanding the footprint of a historic grid and to identify new areas that warrant follow up.
The soil survey over the JD area was successful in defining areas of known near-surface mineralization. The area of most historic drilling, the Finn Zone, was well defined by the survey with gold concentrations up to 5413ppb (parts per billion) in soil, in a contiguous anomaly 1.2 kilometres wide (defined by greater than 200ppb Au). In addition, prospected areas with no surface mineralization downslope of the Finn Zone anomaly do not show false gold anomalies which gives the Company confidence in the size and location of new gold anomalies identified elsewhere within the survey.
The Creek Zone is defined by one line in the more sparsely sampled western portion of the survey grid, with gold values up to 464ppb on a tightly defined 200 meter transect, and by a single soil sample at the upslope end of the Creek Zone which assayed 7458ppb Au. The Schmitt and Wolf zones also have anomalous gold in soil results, including samples up to 1051ppb Au. A contiguous gold in soil anomaly of samples greater than 80ppb (up to 5413ppb) extends 2.2km from the Wolf zone to the Finn zone and is thought to be related to the untested western extension of Finn zone style mineralization and associated with the Ag Carbonate zone. The Crown/Tarn area, approximately 1.5 kilometres southwest of the Finn zone, is defined by a 400 by 200 meter Au anomaly (defined by greater than 288ppb, up to 1196ppb). This area has not been prospected by Tower and has never been drill tested.
Several new areas of highly anomalous gold in soil results have been identified that warrant further investigation. Foremost is a large (700 by 900 meter) area of anomalous to highly enriched gold in soil, between the Creek zone (3 kilometres west of Finn zone) and the Wolf zone. This anomaly is complex in shape but highly enriched in gold, with soil samples up to 6240ppb Au. The anomaly is along trend but not contiguous with the Wolf and Schmitt zones to the east, and is bounded to the west by a lack of data between it and the Creek zone. Approximately 500 meters north of the Creek zone is a 300 meter long soil transect that returned up to 1056ppb gold This anomaly is on a different slope aspect than the Creek zone, and has not been prospected. Also, 1.3 kilometres north of the Wolf zone is a 700 by 100 meter anomalous cluster of gold-enriched soil samples (up to 770ppb Au) This area has not been prospected by Tower. Furthermore, 1.3 kilometres southeast of the Finn zone is a 600 by 600 meter area of anomalous gold in soil (up to 585ppb) which also has not been prospected. Numerous small gold in soil anomalies exist within the JD soil survey grid, indicating widespread near-surface enrichment in gold.
The technical content of this news release has been reviewed and approved by Kenneth Thorsen, BSc, P.Eng, a consultant of the company and qualified person for the purposes of National Instrument 43-101 -- Standards of Disclosure for Mineral Properties of the Canadian Securities Administrators.
Samples were shipped in sealed and secure bags to Acme Analytical Laboratories in Smithers BC. Here, rock and soil samples were prepared using standard preparation procedures. Rock samples were then analyzed 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. Soil samples were dug with a hand auger or mattock and were dried at JD camp. At the lab samples were analysed for 36 elements by ICP-MS using an aqua regia digestion.
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 Tower's 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.