Vancouver, B.C. - Tower Resources Ltd., (TSX.V: TWR) provides results from its multidisciplinary 2014 exploration program at the Rabbit North copper (Cu) - gold (Au) property located in the active Kamloops Mining District of south-central British Columbia. In particular, Tower reports the discovery of a new porphyry related copper and gold zone herein termed the Buff target.
The discovery of the Buff copper and gold porphyry target expands the footprint of known porphyry related copper and gold mineralization associated with the Durand stock porphyry system some 750 meters southwest of the historically drilled Chrysocolla zone (see Tower's October 22nd, 2013 Press Release). Furthermore, the Buff target together with the previously reported Kwil target (see Tower's September 9th, 2014 Press Release) form a property scale mineralized trend that extends 3.5 kilometers striking northeasterly. Other targets such as the Chrysocolla, Chrysocolla East, Central Monzonite South, and Central Monzonite Main fall along this trend and are all considered priority targets.
The poorly exposed Buff target is located approximately one kilometer southwest of the Chrysocolla East target and approximately 1.8 kilometers southwest of the Central Monzonite South target. Although mostly covered by thick glacial overburden, the zone represents a high priority target for further investigation. The Buff target is underlain by a high magnetic anomaly that Tower discovered in 2013 that spans approximately 1.3 by 0.6 kilometers oriented broadly northwesterly. Furthermore, the highest magnetic response is coincident with the shoulder of a largely untested, open to the south and east, IP (Induced Polarization) chargeability high anomaly that spans at least 1.9 by 1.4 kilometers.
Bedrock exposure is limited, however, where observed, copper and gold mineralization is dominantly hosted in extensive and pervasive magnetite and epidote altered microdiorite-clast rich breccias. Copper and gold mineralization is characterized by clotted and disseminated chalcopyrite + pyrite observed in both the matrix and within clasts in the breccias. Minor malachite and azurite are locally observed along fracture planes and associated with local crosscutting actinolite + epidote veins. Trace native copper is observed locally along discrete fracture planes. This breccia occurrence has been mapped over an area of approximately 200 by 160 metres which marks the boundaries of exposure. Nineteen grab samples were collected from this target for geochemical analyses and assayed up to 0.57 g/t Au with 0.21% Cu (sample 2377540).
The reader is referred to Tower's website for an updated project map showing the recently discovered Buff target (www.towerresources.ca).
|SAMPLE||Cu (%)||Au (g/t)||Ag (g/t)|
Tower cautions readers that grab samples are selective in nature and that the assays from the samples may not be representative of all mineralization on the property.
Tower's 2014 exploration on Rabbit North has been successful so far in identifying multiple new copper and gold mineralized targets by way of systematic geological mapping and rock-chip sampling. These previously reported discoveries include; the Chrysocolla East (see Tower's June 11th, 2014 Press Release), Central Monzonite South (see Tower's August 25th, 2014 Press Release) and Kwil (see Tower's September 9th, 2014 Press Release) targets.
The road-accessible Rabbit North property consists of 34 mineral tenures covering 16,400 hectares, which are in-part abutting New Gold Inc's tenures covering the New Afton mine. The producing New Afton copper and gold mine is approximately 14.5 kilometers east of the main Rabbit North targets. Rabbit North is also 28 kilometers east-northeast of the producing Highland Valley copper mine operated by Teck Resources Limited, Canada's largest copper producer.
Samples were shipped in sealed and secure bags to ALS Minerals Laboratory in Kamloops, BC. Here, samples were prepared using standard preparation procedures. Samples were then analyzed at the ALS Minerals Laboratory in North Vancouver, BC for 51 elements including copper and silver by ICP-MS using an aqua regia digestion. Gold, platinum and palladium was analyzed by fire assay (30 gram nominal sample weight), aqua regia digestion and ICP-AES finish. Over limit copper (>1%) was re-analyzed using an aqua regia digestion and ICP-AES finish.
Some technical information contained in this release is historical in nature and has been compiled from sources believed to be accurate. This technical information has not been verified by Tower and may in some instances be unverifiable dependent on the existence of all historical drill core.
This reported sampling program was carried out by Christopher Leslie, M.Sc., Vice President, Exploration for Tower Resources. 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 Resources Ltd.
Mark Vanry - Director, CEO & President
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 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'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.