Vancouver, B.C. - Tower Resources Ltd. is pleased to report results from three additional diamond drill holes from phase one drilling at its 100% controlled JD property in north central British Columbia.
News release highlights:
- JD-12-014 intersected; 26 metres grading 1.16 g/t gold (Au) and 11.54 g/t silver (Ag) in step-out hole west of Finn zone
- JD-12-005 intersected; 17 metres grading 2.33 g/t Au and 7.82 g/t Ag in Finn zone
Table of selected highlights of length weighted drill intersections:
| Drill Hole1 | From (m) | To (m) | Width2 (m) | Au (g/t) | Ag (g/t) | AuEQ3 (g/t) |
|---|---|---|---|---|---|---|
| JD-12-005 | 14.0 | 17.0 | 3.0 | 0.35 | 6.83 | 0.48 |
| and | 20.0 | 48.0 | 28.0 | 1.60 | 26.91 | 2.10 |
| including | 31.0 | 48.0 | 17.0 | 2.33 | 7.82 | 2.47 |
| including | 42.0 | 43.0 | 1.0 | 13.90 | 10.20 | 14.09 |
| and | 86.0 | 88.0 | 2.0 | 0.40 | 0.25 | 0.40 |
|
JD-12-012 |
6.1 | 13.4 | 7.3 | 0.63 | 16.74 | 0.94 |
| 21.0 | 22.0 | 1.0 | 1.06 | 0.10 | 1.06 | |
| 82.5 | 84.6 | 2.1 | 1.73 | 4.25 | 1.81 | |
| 167.0 | 168.0 | 1.0 | 0.97 | 2.30 | 1.01 | |
| JD-12-014 | 56.0 | 60.0 | 4.0 | 2.31 | 1.90 | 2.35 |
| 85.0 | 86.0 | 1.0 | 1.34 | 5.80 | 1.45 | |
| 90.0 | 97.0 | 7.0 | 0.31 | 1.78 | 0.34 | |
| and | 101.0 | 127.0 | 26.0 | 1.16 | 11.54 | 1.38 |
| including | 118.0 | 121.0 | 3.0 | 3.25 | 3.07 | 3.31 |
| and | 130.2 | 143.0 | 12.8 | 0.91 | 7.73 | 1.05 |
| 1. | JD-12-005 was collared at 611294E 6367666N (UTM NAD83 Z 9) and drilled with an azimuth of 200° and dip -50° |
| JD-12-012 was collared at 610927E 6367582N (UTM NAD83 Z 9) and drilled with an azimuth of 210° and dip -45° | |
| JD-12-014 was collared at 611085E 6367708N (UTM NAD83 Z 9) and drilled with an azimuth of 200° and dip -50° | |
| 2. | Widths reported are drill widths. True widths are approximately 96% of drill widths. |
| 3. | Gold Equivalent (AuEQ) calculations use metal prices as follows: Au $1600/oz and Ag $30/oz. |
JD-12-014 was a step out hole collared 160 meters northwest of JD-12-003 and 85 meters west of the historic Finn zone grid. The hole was designed to test the western extent of Finn zone mineralization. Three historic holes were drilled in this area in 1995, however, only 10% of the drill core was assayed from those holes causing the operator to incorrectly conclude the Finn zone was closed off to the west. Despite the lack of historic assay results, Tower deemed this area geologically important and decided to assay its complete drill hole resulting in the identification of a near consistent zone of gold and silver mineralization. The hole intersected 58 meters of strongly mineralized and altered volcanic rocks from 85 to 147 metres down the hole. This mineralized zone consists of four separate intervals, including: 1 metre of 1.34 g/t Au, 7 metres of 0.31 g/t Au, 26 metres of 1.16 g/t Au and 12.8 metres of 0.91 g/t Au. The short (3 to 4 metre) intervening intervals fall below the 0.3 g/t cutoff that Tower has adopted for the project at this time.
From surface, JD-01-014 intersected weakly silica + chlorite +/- sericite altered plagioclase porphyritic andesite mineralized with disseminated pyrite. The intensity of silica alteration increased from 96 to 110 meters where silicification was accompanied by hydrothermal brecciation and sulphide mineralization in the form of disseminated pyrite and vein hosted galena. This siliceous zone grades below into a weakly silica + clay altered feldspar porphyritic andesite with disseminated pyrite and local quartz + pyrite + galena + sphalerite veinlets. Gold mineralization is not strictly associated with the siliceous zone as significant mineralization is found above and below the zone. This new zone of mineralization west of the Finn zone will receive detailed follow-up exploration in 2013.
JD-12-005 was collared 75 metres east of JD-12-003. The hole was designed to test the continuity of gold mineralization within the core of the Finn Zone. The hole intersected typical Finn zone lithologies, alteration assemblages and mineralization consisting of pyritic and weakly sericite + chlorite altered plagioclase porphyritic andesite that grades into a strongly silica and sericite altered and brecciated zone within a volcaniclastic unit. Here, sulphide minerals in the form of pyrite, galena, sphalerite and local chalcopyrite predominate as disseminations, matrix fill and vein hosted. This siliceous zone grades below into sericite + chlorite + pyrite altered plagioclase porphyritic andesite with local zones of strong epidote and hematite alteration.
JD-12-012 was collared 300 metres west-southwest of JD-12-003 and was designed to test an area with historically strong gold mineralization in trenches. Based on modeling, this gold mineralization is thought to represent the west-southwest extent of Finn zone. The hole intersected Finn zone style siliceous breccias at surface and graded into sericite + chlorite +/-epidote altered plagioclase porphyryitic andesite with local intervals containing anomalous gold mineralization associated with disseminated pyrite and vein hosted galena with lesser sphalerite. Although this hole did not intersect gold grades typical of the Finn zone, Tower believes this area warrants further work as highly anomalous base metal mineralization (lead and zinc) exists at depth, which provides a good vectoring tool for the identification of additional Finn zone style gold and silver mineralized systems.
A map of the current reported drill hole locations will be posted on Tower's website: www.towerresources.ca
The JD Property is comprised of over 15,000 hectares in 42 claims located 200 kilometres east of Dease Lake, BC, and approximately 50 kilometres north of Aurico Gold Inc.'s past producing Kemess Mine in the Omineca mining district of British Columbia.
Quality Assurance and Control:
The 2012 drilling and sampling program at JD was supervised by Christopher Leslie, M.Sc., Vice President, Exploration for Tower Resources. The technical and scientific nature of this news release was supervised, reviewed and approved by Ken Thorsen, B.Sc., P.Eng., and consultant to the Company, who serves as a Qualified Person under the definition of National Instrument 43-101.
Core samples were prepared at Tower's core logging facility at the JD camp and shipped in sealed and secure bags to Acme Analytical Laboratories preparation lab in Smithers, BC. Here, samples were prepared using standard preparation procedures. Samples were then analyzed at Acme's Vancouver, BC laboratory for gold by 30 gram fire assay fusion with AAS finish; samples that yielded results greater than 10g/t Au were re-assayed using a 30 gram fire assay with a gravimetric finish. 36 elements, including silver, lead and zinc, were analysed by ICP-MS using an aqua regia digestion. Over-limit (>100 ppm) silver was re-analysed by a 30 gram fire assay with gravimetric finish. Over-limit lead and zinc (>1%) was re-analysed by ICP-ES finish using an aqua regia digestion. Quality assurance and quality control procedures include the systematic insertion of blanks, certified standards and duplicate samples into the sample stream followed by careful monitoring of results.
Reported length weighted intervals are calculated using a 0.3g/t Au cut off for bounding assays unless stated otherwise. Assays below the cut off are only used if it's grade and the grade of the neighbouring assay averages greater than 0.3 g/t Au. Reported grade intervals are based on the uncut fire assay certificates received from the lab.
Tower Resources Ltd.
Mark Vanry - Director, CEO & President
(604) 558-2565
www.towerresources.ca
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 Statements
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 Towers 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.