Vancouver, British Columbia--(Newsfile Corp. - December 2, 2021) - Tower Resources Ltd. (TSXV: TWR) ("Tower" or the "Company") is pleased to report that diamond drilling has commenced on the exciting new porphyry Cu-Au target (see press release dated November 12, 2021) on the Company's Rabbit North porphyry Cu-Au property near Kamloops, B.C. (see figure 1).
The Rabbit North property is strategically located between the two producing porphyry deposits of the Kamloops district, New Gold's New Afton underground Cu-Au mine to the east and Teck's Highland Valley open pit Cu-Mo mine to the west (see figure 1). Importantly, the property contains a fertile intrusion, the Durand Stock, similar to the one at New Afton. The exposed core of this stock, at high elevations, has been explored for 50 years, resulting in the discovery of numerous Cu-Au showings.
The lower slopes, around the more prospective rim of the stock, are thickly covered by glacial till and thus essentially unexplored. This summer, Tower sampled the till and identified a classic gold grain dispersal train (see figure 2) that is stronger than any known trains associated with glaciated porphyry Cu-Au deposits, including the giant Pebble deposit in Alaska. The objective of the present drilling program is to locate and probe the near-surface mineral deposit that produced this unparalleled dispersal train.
Seven potential drill sites have been selected near the head of the dispersal train, and the Company has received a permit to drill holes at all seven sites. It is hoped that up to three holes can be completed before the Christmas break. The drill area is accessible year-round and drilling is expected to resume as soon as the results from the initial holes have been assessed.
Methods and Qualified Person
The technical content of this news release has been reviewed and approved by Stuart Averill, P.Geo., a Director of the Company and a Qualified Person as defined by National Instrument 43-101.
About Tower Resources
Tower is a Canadian based mineral exploration company focused on the discovery and advancement of economic mineral projects in the Americas. The Company's key exploration assets, both in B.C., are the Nechako gold-silver project near Artemis' Blackwater project and the Rabbit North copper-gold porphyry project located between the New Afton copper-gold and Highland Valley copper mines.
On behalf of the Board of Directors
Tower Resources Ltd.
Joe Dhami, President and CEO
This news release may contain statements which constitute "forward-looking information", including statements regarding the plans, intentions, beliefs and current expectations of the Company, its directors, or its officers with respect to the future business activities of the Company. The words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions, as they relate to the Company, or its management, are intended to identify such forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future business activities and involve risks and uncertainties, and that the Company's future business activities may differ materially from those in the forward-looking statements as a result of various factors, including, but not limited to, fluctuations in market prices, successes of the operations of the Company, continued availability of capital and financing and general economic, market or business conditions. There can be no assurances that such information will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. The Company does not assume any obligation to update any forward-looking information except as required under the applicable securities laws.
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Figure 1 - Geologic map of the Kamloops Mining District showing the prime location of Tower's Rabbit North property midway between the New Afton and Highland Valley mines.
To view an enhanced version of Figure 1, please visit:
Figure 2 - Gold grain abundance per 10 kg in the Dominic Lake dispersal train. Note the apparent presence of a second, narrower dispersal train to the east of Samples 093, 219 and 142 in line with the Chrysocolla Zone.
To view an enhanced version of Figure 2, please visit:
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/106210