VANCOUVER B.C. -- Tower Resources Ltd. ("Tower" or the "Company") is pleased to announce the following exploration update on its Rabbit North, Nechako Gold and More Creek exploration projects in British Columbia. The company has been active on all three projects since August of the current calendar year.
Tower is completing its 2016 exploration drilling program at its flagship Rabbit North copper and gold property in south-central British Columbia. Tower has drilled 3100m to date in eleven drill holes targeting four key porphyry-related copper and gold occurrences, collectively associated with the composite Late Triassic Durand Intrusive Stock. These targets are Western Magnetite (six drill holes), Central Monzonite South (two drill holes), Chrysocolla East (two drill holes), and Dominic (one drill hole). Drilling at the Western Magnetite target is intended to investigate an area undrilled since 1975, where local shallow percussion drilling indicated increasing copper grades with depth (e.g. P70-01, which ended in 6.1m of 0.38% copper (Cu) with gold (Au) unassayed). At Central Monzonite South, sampling by Tower recovered up to 0.62% Cu and 0.73 g/t Au in surface samples; this target has not been systematically drilled previously. The Chrysocolla East showing was discovered by Tower, and has never been drilled; surface sampling at Chrysocolla East recovered up to 1.6% Cu and 1.9 g/t Au, with elevated palladium. Finally, Dominic is a deep porphyry target represented by a >1.6 km wide chargeability and magnetic anomaly defined by Tower's geophysical surveys. The Dominic target has also not been systematically tested at depth. Results from the drill program are anticipated in December to January.
More Creek is an epithermal gold and silver prospect in the Golden Triangle District of northwest British Columbia, acquired in 2016 with Tower having a 100% interest (see August 16, 2016 news release). A property visit has been completed by Tower personnel to assess the geology, structure, and mineralization of the Sinter Zone, and collect new stream sediment samples in the creeks draining the Sinter Zone and Logan Ridge Zone. Three stream sediment samples were collected, from tributary creeks draining the Sinter Zone and Logan Ridge Zone, and from the creek draining the entire catchment area. Previous operators had sampled highly anomalous concentrations of gold (up to 1.4g/t Au) in silts from creeks draining the area, as well as highly anomalous (in rocks, soils and silts) concentrations of epithermal-gold pathfinder elements such as Hg, As and Sb. Sediment samples were submitted to Overburden Drilling Management Limited (ODM), for gold grain separation and morphology analysis, as well as epithermal and porphyry indicator mineral identification and counts. Prospecting of the Sinter Zone revealed extensive glacial recession since the last work was conducted on the property; eleven rock grab samples were collected, primarily from new bedrock outcropping. Results are expected by mid-December.
The Nechako Gold Property is located in the Blackwater Gold district, central British Columbia, and is deemed prospective for Blackwater-type epithermal gold and silver mineralization and porphyry-related copper and gold mineralization. A prospecting and mapping program was completed by Tower personnel in preparation for a broad scale systematic geochemical exploration program conducted by ODM. Personnel prospected and mapped geology on the Stubb, Brewster, and Nechako Gold claim blocks, and collected 18 rock grab samples. At Stubb, the interpreted source of a down-ice till dispersal train anomalous in zinc, copper, and arsenic (with lesser gold and silver), identified from a government till geochemistry database, was deemed very prospective. The till geochemical survey was altered to add additional sampling locations on the Stubb claim block. A total of 48 till samples were collected by ODM in early October, down-ice and coincident with the two interpreted Blackwater-type epithermal gold targets, Chutanli and Stubb. ODM is highly regarded as a global leader in heavy mineral geochemistry and indicator mineral exploration, which are considered critical tools for exploration in areas masked by glacial till, such as the majority of the Nechako Plateau. The ODM team previously completed detailed studies at the Blackwater project and have demonstrated that their sampling techniques and proprietary heavy mineral separation processes are successful at defining down-ice heavy mineral dispersion trains unique to Blackwater-type deposits. Results from the till geochemical survey are anticipated in December to January.
ODM was founded in 1974 by Mr. Stuart Averill, who currently serves as ODM's Chairman. Mr. Averill is also on the Board of Directors for Tower Resources Ltd.
About Tower Resources
Tower Resources Ltd. (TWR.V) is a Vancouver-based junior mineral exploration company focused on the discovery and advancement of economic mineral projects, primarily in British Columbia. The company's key exploration assets are Rabbit North, Nechako Gold and More Creek.
Some technical information contained in this release is historical in nature and has been compiled from sources believed to be accurate. This technical information has not been verified by Tower and may in some instances be unverifiable dependent on the existence of all historical grab and trench samples and drill core.
The technical content of this news release has been reviewed and approved by Nils Peterson, M.Sc., P.Geo., Chief Geologist for the company and qualified person as defined by National Instrument 43-101.
For further information contact:
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.
Forward-Looking Statement Caution
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.