VANCOUVER, B.C. -- Tower Resources ("Tower" or "the Company") is pleased to announce that it has staked the Moosehorn claims adjacent to the Company's gold -- silver, JD Property located in the Toodoggone gold district of the Omineca mining division in north-central British Columbia.
The Moosehorn claims consist of five mineral tenures covering 1780 ha, located southwest and directly adjacent to the recently optioned JD Property (see NR September 14, 2011). The claims are underlain by Jurassic age porphyritic intermediate volcanic flows that are locally hydrothermally altered and mineralized. Historic work on the Moosehorn claims consists of limited shallow diamond drilling, silt, soil and rock geochemistry and ground induced polarization (IP) surveys performed mostly by Cyprus Metals in the mid-1980s.
The newly acquired claims are centered on a large fault related alteration zone termed the Moosehorn Zone, which is exposed on cliffs of the south draining Moosehorn Creek. This 450m wide zone of strong silica and potassium feldspar alteration reportedly also contains pervasive quartz stockwork, quartz breccias, banded quartz veins, and chalcedonic quartz veins. A historic one-meter chip sample from this zone assayed 3.2g/t Au and 125g/t Ag. Anomalous gold and silver mineralization from rock geochemistry is widespread throughout this zone. For example, 59% (59 of 101 samples) of Cyprus Metals' one-meter chip samples from 1986, returned assays greater than 0.1g/t Au. This zone is also characterized by soil geochemical and IP anomalies that have not been adequately drill tested.
The Moosehorn East and West vein targets are located 700 meters southeast of the Moosehorn Zone and reportedly comprise widespread potassic alteration accompanied by quartz veins and quartz stockwork. Historic grab samples from float near the Moosehorn East vein target returned highlight assays of 12.4g/t Au with 1010g/t Ag and 10.4g/t Au with 1280g/t Ag. Highlights from historic drilling by Cyprus Metals in the East vein target area include; 0.55g/t Au and 29g/t Ag over 34 meters (DDH 88-12) and 0.42g/t Au and 24g/t Ag over 27 meters (DDH 87-5). Smaller intervals of higher grade material are typical of the West vein target area. DDH 87-2 intersected 9.0g/t Au and 251g/t Ag over 1.2m in a quartz vein and DDH 88-9 intersected 2.6g/t Au and 352g/t Ag over 1.5m in a quartz and pyrite vein cutting silica and potassium feldspar alteration. Similar to the Moosehorn Zone, the East and West targets have not been adequately drill tested as many short diamond drill holes ended in anomalous gold and silver mineralization.
Tower believes there is significant rationale to explore the Moosehorn mineralizing system at depth. The presence of widespread potassic and silica alteration associated with anomalous vein hosted gold and silver mineralization is very promising. The proximity of the Moosehorn mineralized system to the higher grade JD epithermal system is very intriguing and warrants strategic follow-up exploration during Tower's proposed 2012 exploration program on the adjacent JD property.
Technical information contained in this release is historical in nature and has not been verified by Tower, but has been compiled from sources believed to be accurate.
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.
Tower Energy 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 Energy'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.