Tower Resources to Drill on the Nechako Property
Vancouver, British Columbia--(Newsfile Corp. - June 18, 2019) - Tower Resources Ltd. (TSXV: TWR) (OTCQB: TWRFF) ("Tower" or the "Company") Tower Resources is pleased to report that the recently announced (see April 29, 2019 press release) Phase III reverse circulation (RC) drilling program on the Company's Nechako property south of Vanderhoof, BC was completed successfully and achieved its objective of narrowing the location of the mineralized April Trend in preparation for an initial diamond drill test.
The mineralized April Trend, which was first recognized in the Phase II RC drilling program, is inferred to be the bedrock source of the major, 1.5 km wide x 3 km long Au-Ag-As-Zn-Pb glacial dispersal train (Fig. 1) that was outlined in the Phase I and II programs (see February 14, 2019 press release). It is stratabound (Fig. 2), occurring at or near the contact between a tuff-siltstone-mudstone-limestone horizon to the west and structurally overlying basalts to the east (Fig. 3). Both the stratigrapic setting and Au-Ag-As-Zn-Pb association are suggestive of a volcanogenic, Eskay Creek-type deposit model.
Joe Dhami, CEO of Tower, commented: "We have identified a type of mineralization that is new to the Nechako property and is evidently of a significant scale of but only through the drill bit will we learn its potential. Having spent the last two years methodically tracking the Nechako gold dispersal train 3 km to its bedrock source, we are eager to begin diamond drilling."
Program Summary
The Phase III RC holes were drilled along the northernmost 500 m of the 1500 m long mineralized trend. Eleven holes, Nos. NRC19-52 to 62 (Figs. 1, 2), were completed in the three budgeted drill shifts, significantly exceeding the expected six to eight holes. The holes were sited 100-200 m apart and drilled vertically. Both the Upper and Lower (where preserved) Till horizons and underlying bedrock were sampled continuously over 1.5-2 m intervals (Fig. 3).
Till Results
Holes 52 and 60 intersected a key extension (Fig. 1) of the westernmost of the two preserved segments of the Lower Till horizon that host remnants of the once-continuous, east-northeast trending dispersal train. The Au-Ag-As-Zn-Pb analyses obtained from the heavy mineral concentrates (HMCs) of the Lower Till samples from these holes and from nearby Phase II Hole 45 are the highest encountered to date. The average HMC Au values for all of samples collected from the Lower Till section (up to 8 samples per hole) rise progressively westward - i.e. glacially up-ice - from 1-1.5 g/t 2-3 km down-ice in the Phase I drill area to 2.1-2.4 g/t in Holes 45 and 60 (Fig. 3, Table 1). They peak at 4 g/t in Hole 52 immediately down-ice from the April Trend and then drop precipitously to less than 0.5 g/t 150 m further up-ice in Hole 42 (Fig. 3), providing a sharp cut-off to the dispersal train.
Bedrock Geology
The bedrock intercepts from the new drill holes confirm that the source of the Nechako dispersal train lies within the mixed tuff-siltstone-mudstone-limestone unit on the west side of the April Trend but show that the Trend has a slightly more easterly strike (Fig. 2) than that previously projected (see April 29, 2019 press release). The tuff, siltstone and mudstone are extensively fractured to brecciated, have been recrystallized by thermal metamorphism, are sulphidized and contain abundant biotite indicating that they have undergone pervasive potassic alteration. The limestone member, which was intersected only in Hole 62, has been recrystallized and its contact with the siltstone is a skarn comprised of epidote, grossular garnet and calcic feldspar. In contrast, both the basalt along the east side of the April Trend and an ignimbrite horizon further east are unmetamorphosed, undeformed and unaltered.
The diamond drill holes will be collared over the basalt and drilled to the southwest across the tuff-sediment unit as depicted in Figure 3.
Significant Mineralization
While the Nechako dispersal train is clearly derived from the metamorphosed and hydrothermally altered tuff-siltstone-mudstone-limestone horizon, the only sulphides encountered in the new drill holes that intersected this horizon are pyrrhotite and pyrite, mainly in Holes 53 and 62 where they reach a concentration of 10-15% with pyrrhotite dominant. Arsenopyrite, sphalerite and galena - the characteristic minerals of the Nechako dispersal train - are conspicuously absent from the bedrock in these holes, suggesting that the thickness of the targeted Au-Ag-As-Zn-Pb zone is considerably less than the 100-200 m distance between holes. However, given the considerable thickness of the dispersal train (Fig. 3), its high metal content and its persistence for 3 km down-ice, the grade x thickness value of the source mineralization is inferred to be significant.
National Instrument 43-101 Disclosure
The technical content of this news release has been reviewed and approved by Mr. Stuart Averill, Chairman of ODM, 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 are the Rabbit North copper-gold porphyry project located between the New Afton and Highland Valley Copper mines, the Nechako gold project near New Gold's Blackwater project and the More Creek and Voigtberg gold projects in the Golden Triangle area of Northern British Columbia.
On behalf of the Board of Directors
Tower Resources Ltd.
Joe Dhami, President and CEO
(604) 558-2565
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.
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To view an enhanced version of Figure 1, please visit:
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To view an enhanced version of Figure 2, please visit:
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To view an enhanced version of Figure 3, please visit:
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| -0.25 mm HMC Analyses | ||||
Sample | Till | Au | Ag | As | Zn | Pb |
Number | Horizon | (ppb) | (ppm) | (ppm) | (ppm) | (ppm) |
42-01 | Upper | 565 | 12 | 2550 | 704 | 95 |
42-02 | Upper | 295 | 2.6 | 731 | 198 | 66 |
42-03 | Upper | 337 | 1.4 | 269 | 208 | 100 |
42-04 | Lower | 174 | 0.3 | 71 | 79 | 35 |
42-05 | Lower | 80 | 0.8 | 200 | 106 | 38 |
42-06 | Lower | 1170 | 1.5 | 228 | 140 | 47 |
45-01 | Upper | 208 | 2.4 | 604 | 1760 | 83 |
45-02 | Lower | 3360 | 36 | 11200 | 6220 | 3080 |
45-03 | Lower | 2620 | 26.6 | 6390 | 3520 | 2490 |
45-04 | Lower | 1370 | 13.7 | 3330 | 1710 | 956 |
45-05 | Lower | 2580 | 7.7 | 34800 | 650 | 1300 |
45-06 | Lower | 329 | 1.7 | 4490 | 223 | 254 |
46-01 | Upper | 916 | 1.3 | 2130 | 161 | 81 |
46-02 | Upper | 198 | 0.6 | 285 | 153 | 42 |
46-03 | Upper | 460 | 0.5 | 353 | 80 | 38 |
46-04 | Upper | 285 | 0.8 | 291 | 73 | 33 |
46-05 | Upper | 156 | 0.8 | 251 | 86 | 27 |
46-06 | Upper | 183 | 0.5 | 259 | 71 | 33 |
52-01 | Lower | 3990 | 36.7 | 14300 | 9350 | > 5000 |
60-01 | Upper | 552 | 0.4 | 153 | 113 | 61 |
60-02 | Upper | 24 | 0.7 | 109 | 133 | 28 |
60-03 | Lower | 4140 | 19.8 | 4670 | 1830 | 1420 |
60-04 | Lower | 1880 | 20.5 | 10500 | 4850 | 1750 |
60-05 | Lower | 1160 | 8.9 | 7220 | 2380 | 1000 |
60-06 | Lower | 957 | 12.3 | 9740 | 7260 | 1310 |
60-07 | Lower | 4070 | 23.8 | 11600 | 3360 | 3240 |
Table 1 - HMC Au, Ag, As, Zn and Pb analyses from the Upper and Lower Till samples collected form the five RC drill holes shown in Figure 3.
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