Vancouver B.C. - Tower Resources Ltd. ("Tower" or the "Company") reports further drill results from its flagship Rabbit North project, near Kamloops, British Columbia. Additional results from the 2017 diamond drill program continue to return long intervals of porphyry related copper and gold mineralization from drill holes at the Western Magnetite Zone (WM Zone).
Highlights from hole RN17-018, include:
- 0.19% Cu and 0.16g/t Au (0.29% copper equivalent) over 280.2m; including
- 0.35% Cu and 0.27g/t Au (0.54% copper equivalent) over 88.3m; including
- 0.54% Cu and 0.28g/t Au (0.73% copper equivalent) over 27.6m; including
- 1.71% Cu and 0.97g/t Au (2.38% copper equivalent) over 3.9m
The road-accessible Rabbit North project comprises approximately 16,400 hectares in the infrastructure-rich copper and gold porphyry belt of southern British Columbia. The producing New Afton copper and gold mine is approximately 14 kilometres east of the main Rabbit North targets; Highland Valley Copper Mine operated by Teck Resources Ltd is located 28 kilometres to the west.
President Mark Vanry states, “we continue to be very encouraged by results of step-out drilling in the WM Zone, which has again intercepted strong Cu-Au mineralization over material widths. Hole RN-018 is one of the best holes drilled to date on the project. The company has now defined an area of approximately 200 meters x 200 meters of copper and gold mineralization which is open in all directions. We are looking forward to the commencement of our Phase II 2017 program at Rabbit North, scheduled to commence in mid-October.”
Table 1: Length Weighted Drill Intercepts – this Press Release, 2017 Diamond Drill Program
|HOLE ID||From (m)||To (m)||Interval (m)*||Cu (ppm)||Cu (%)||Au (g/t)||CuEq (ppm)**||CuEq (%)**|
*Width refers to drill hole intercept. True widths have not been determined.
**Copper Equivalent (CuEq) is used for illustrative purposes, to express the combined value of copper and gold as a percentage of copper. No allowances have been made for recovery losses that would occur in a mining scenario. CuEq is calculated on the basis of $2.65 per pound of copper and $1250 per troy ounce of gold, using the formula:
CuEq = [(%Cu)(22.0462)($lbCu)+(gptAu)(1/31.1035)($ozAu)]/[(22.0462)($lbCu)
Drillhole RN17-018 was collared as a 110m step-out to the southeast from RN17-015, which intersected 247m of 0.51% Cu and 0.34g/t Au (0.75% CuEq) (see Tower’s Press Release dated July 1, 2017). RN17-018 was an angled hole (Azimuth 315, -60 dip); RN17-15 was drilled as a vertical hole as shown in the plan map below.
Drill hole RN17-018 was drilled in the WM Zone, an area of copper and gold porphyry mineralization predominantly hosted in Nicola volcaniclastic rocks on the western edge of the Durand stock, a Late Triassic monzonite to diorite composite intrusion. Significant copper-porphyry mineralization at the WM Zone continues to be expanded by assay results from the 2017 drill program, and remains open to the south, north and east.
Mineralization in RN17-018 starts at the top-of-bedrock and consists of chalcopyrite and pyrite occurring in veinlets and disseminations in mafic volcanics and within hydrothermal breccias. Alteration consists of strong, overprinting, sodic, potassic and inner propylitic assemblages in host Nicola Group volcaniclastic rocks.
Phase 1 of the 2017 drill program at Rabbit North is now complete and Tower plans to continue to aggressive exploration on the property. Further drilling is set to commence once comprehensive geochemical and geological modelling on the Phase 1 2017 drill data and further ground geophysical surveys can be executed and modelled.
Methods and Qualified Person
Drill core samples - generally 2 metres in length - were split at Tower's core logging facility in Kamloops, BC. Samples were prepared for analysis and analyzed at Activation Laboratories (ActLabs) in Kamloops, BC, an ISO/IEC 17025 Accredited (Lab 790) by the Standards Council of Canada. Samples were analyzed for gold by fire assay and ICP-OES and for 37 further elements, including copper, by ICP-OES using a four-acid, near-total digestion. Overlimit (>1%) copper analyses were repeated using the same procedures but at a higher detection range. QA/QC samples including blanks, standards and duplicate samples were inserted regularly into the sample sequence at a ratio of approximately 1:10.
The technical content of this news release has been reviewed and approved by Paola Chadwick, P.Geo., Exploration Manager for the company and qualified person as defined by National Instrument 43-101.
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.
Tower Resources Ltd.
Mark Vanry - Director, CEO & President
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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.