Vancouver, British Columbia--(Newsfile Corp. - June 7, 2022) - Tower Resources Ltd. (TSXV: TWR) ("Tower" or the "Company") is pleased to report that it has received the assays for the previously uncut core sections from the first four diamond drill holes on the Company's Rabbit North property near Kamloops, British Columbia, between New Gold's New Afton underground Cu-Au mine and Teck's Highland Valley open pit Cu-Mo mine (see Fig. 1).
The four holes, RN21-024 to 027, were exploratory holes drilled in December, 2021, to probe a 300 m prospective corridor for the source of the strong Dominic Lake gold grain dispersal train (see Fig. 2) which had been outlined in the glacial till that covers the bedrock (see Tower's November 12, 2021 press release). The third hole, No. 026, was successful, intersecting a visibly pyritized shear zone that subsequently assayed 1.40 g/t Au over 95 m, including 19.2 m of 4.21 g/t Au (see Tower's January 11, 2022 press release) and has been christened the Lightning Zone. The fourth and final hole, No. 027, was drilled from the same pad with the hope of hitting the zone from a different angle.
In December, only the visually interesting core was cut and analyzed, mostly that containing pyrite which in the Lightning Zone is a good indicator of gold content. Most of the remaining, less interesting core was processed during Tower's recent six-hole delineation drilling program on the Lightning Zone. These "housekeeping" analyses are discussed below. The assays from the new, zone-focused, visually interesting (see Tower's May 03, 2022 press release) 2022 drill holes, RN22-028 to 033, are pending. They will guide Tower's next delineation drilling program on the Lightning Zone.
The complete Au and Cu analyses for discovery Hole 026 are shown in Figure 3. As seen, the Lightning Zone is Au-rich but contains little Cu because the only sulphide mineral associated with the Au is pyrite. However a 15.0 m zone averaging 0.27% Cu and 0.39 g/t Au was intersected at the bottom of the hole. The Cu and Au grades of this zone are typical of the widespread porphyry-type mineralization that is associated with the nearby Durand Stock.
Hole 027 did not hit the Lightning Zone as planned because the hole was based on a presumed southeast strike whereas the new delineation holes indicate that the zone strikes northeast (see Fig. 2). However, the hole did intersect two parallel footwall zones northwest of the Lightning Zone that yielded 1.32 g/t Au over 9.7 m and 2.09 g/t Au over 5.2 m despite containing only 1 to 5% pyrite. As noted in Tower's May 03, 2022 press release, visually similar footwall mineralization was intersected in some of the new delineation holes.
Holes 024 and 025 were drilled blindly before the Lightning Zone was intersected. They encountered porphyry-prospective diorite of the Durand Stock (see Fig. 2) rather than the sheared volcaniclastic country rocks that host the Lightning Zone. While the infill assays were helpful in delineating the wide zone of porphyry Cu-Au mineralization that was encountered in these holes (e.g. 79.8 m of 0.09% Cu and 0.31 g/t Au in Hole 025; see Tower's March 10, 2022 press release), they are not relevant to the Company's current focus on the Lightning Au zone.
Methods and Qualified Person
The drill core was logged at Tower's leased, fully equipped core facility near Kamloops under the supervision of Matthew Husslage, P. Geo. and Dane Bridge, MSc., P.Geo., both of whom have extensive experience with shear-hosted gold deposits and have previously worked on the Rabbit North property.
Split samples of the core, generally 1-2 m in length, were delivered directly to Activation Laboratories (ActLabs) in Kamloops, BC, a laboratory certified as ISO/IEC 17025 Accredited (Lab 790) by the Standards Council of Canada. QA/QC samples including blanks and standards were inserted regularly into the sample sequence at a ratio of approximately 1:20.
The samples were analyzed for Au by fire assay and ICP-OES and for Ag and 36 additional elements by ICP-OES using a four-acid, near-total digestion. Any over-limit (>5 g/t) Au analyses were repeated using the same fire assay procedure but with a gravimetric rather than ICP finish.
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 Rabbit North copper-gold porphyry project located between the New Afton copper-gold and Highland Valley copper mines in the Kamloops mining district and the Nechako gold-silver project near Artemis' Blackwater project.
On behalf of the Board of Directors
Tower Resources Ltd.
Joe Dhami, President and CEO
(778) 996-4730
www.towerresources.ca
Reader Advisory
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.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Figure 1 - Location of Tower's Rabbit North property relative to the active mines of the Kamloops district.
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Figure 2 - Locations of the initial 2021 exploration Holes RN21-24 to 27 (red) and recent 2022 delineation holes RN22-28 to 33 (green).
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Figure 3 - Section of discovery Hole 26 showing average Au and Cu analyses for significantly mineralized zones. Note that the upper limit for the red Au bars is 2.5 g/t.
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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/126717
