Vancouver, B.C. - Tower Resources Ltd., (TSX.V: TWR) provides results from its multidisciplinary 2014 program at the Rabbit North copper (Cu) -- gold (Au) property located in the active Kamloops Mining District of south-central British Columbia.
Tower's ongoing 2014 exploration on Rabbit North has been successful in identifying multiple new copper and gold mineralized targets by way of systematic geological mapping and rock-chip sampling. The previously reported discoveries include; the Chrysocolla East (see Tower's June 11th, 2014 Press Release) and Central Monzonite South (see Tower's August 25th, 2014 Press Release) targets. Building on this success, Tower further reports the discovery of an additional porphyry related copper and gold target at the Rabbit North project. The new target is herein termed the Kwil target and is associated with the Durand stock porphyry system.
The Kwil target is located 1.4 kilometers northeast of the Central Monzonite South target. At Kwil, porphyry related copper and gold mineralization has been traced over an area of approximately 230 by 110 metres. The true dimensions of this target are not presently known due to widespread overburden cover. Mineralization at Kwil is hosted in augite porphyritic microdiorite and brecciated microdiorite and locally within equigranular biotite diorite of the Durand stock. The target is near the geological contact with the core monzonite phase of the Durand stock and where observed, the monzonite in this area is also mineralized (i.e., sample 2377100). Chalcopyrite and pyrite are associated with pervasive and clotted magnetite + epidote alteration and locally with magnetite + quartz veinlets and discrete albite veins with potassium feldspar halos. Copper oxides are readily observed on most fracture surfaces. Twelve grab samples were collected from outcrops and subcrops from across this target for geochemical analyses and assayed up to 0.49% Cu with 1.89g/t Au (sample 2377094).
Table of 2014 Grab Samples from the Kwil Target on the Rabbit North Property
|Sample||Type||Area||Cu (%)||Au (g/t)||Ag (g/t)||Pd (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.
The discovery of the Kwil target at Rabbit North expands the footprint of known porphyry related copper and gold mineralization some 300 meters eastward from the previously known limits of the Central Monzonite zone, which Tower investigated in 2013 (see Tower's October 22nd, 2013 Press Release). Follow-up work including the expansion of the 2013 IP (induced polarization) over the Kwil target is warranted to further investigate the extent of mineralization below overburden.
The reader is referred to Tower's website for an updated project map showing the recently discovered Kwil target (www.towerresources.ca).
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 North Vancouver, BC. Here, samples were prepared using standard preparation procedures. Samples were analyzed 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.
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.