Vancouver, B.C. - Tower Resources Ltd., (“Tower or the “Company”) is pleased to announce that it has received a Multi-Year Area Based (MYAB) Mines Act permit from the B.C. government authorizing a multi-disciplinary five-year exploration program at its Nechako Gold Project. The Company plans to commence drilling in mid-October.
Under this new Notice of Work Mines Act permit Tower has permission over five years to complete reverse circulation drilling from 100 drill pad locations and diamond drilling from 30 drill pad locations covering all key target areas on the property. Tower also has permission to complete 10 kilometers of upgrades to existing access, and an additional 5 kilometers of exploration trail construction for track-mounted reverse circulation and skid-mounted diamond drilling. This new permit authorization allows for significant advancement of the property through extensive exploration over a five-year time frame.
The Nechako Gold property comprises 10 mineral tenures totalling 5,940 hectares in the Nechako Plateau Region of central British Columbia. The road accessible property is located approximately 30 kilometres northeast of New Gold Inc.'s Blackwater development project. Blackwater contains a proven and probable total mineral reserve of 8.2 million ounces of gold with 60.8 million ounces of silver (source: New Gold Inc. website). The Nechako Gold property is deemed prospective for Blackwater-type epithermal gold and silver mineralization and porphyry-related copper and gold mineralization. A prominent gold grain anomaly at least 3.5 kilometres long by 2 kilometres wide was defined on the property by systematic till sampling in late 2016 (see press release January 18, 2017).
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
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.