Tower Receives Rush Assays Averaging 2.0 g/t Au and 7.2 g/t Ag from Upper 7.3 metres of New 10.5-metre-wide Gold Zone in First Hole of 3000m Diamond Drilling Campaign at Nechako Gold Property

Vancouver, British Columbia--(Newsfile Corp. - April 28, 2021) - Tower Resources Ltd. (TSXV: TWR) ("Tower" or the "Company") is pleased to report that the first hole of the current 18-hole, ~3000-metre diamond drilling program on the Company's Nechako Gold property in south-central B.C. (Fig. 1), No. APR-18, intersected a completely new gold zone over a core length of 10.5 metres. Seven samples spanning the first 7.3 m of this zone were assayed on a "rush" basis and returned a weighted average of 2.0 g/t Au and 7.2 g/t Ag. Only limited rush assays are possible at the present time due to the very high level of exploration activity in Canada. Therefore assaying most of the core samples, including those from the lower part of the new gold zone, will require approximately three weeks.

Hole APR-18 was a "scout" hole drilled at the southeast corner of April Pond (Fig. 2), the first of six sites that are being tested with shallow holes (average 150 m at -45°) prior to returning to last year's Discovery Zone (7.1 m grading 2.75 g/t Au, 40.2 g/t Ag, 0.30% Zn and 0.28% Pb); see Tower's May 06, 2020 press release) and drilling it off systematically at 50 m intervals. The objective of each scout hole is listed in Table 1. The rationale for drilling these holes first is to ensure that the available metres are allocated to the best targets, as the 17 earlier holes drilled in 2019 and 2020 demonstrated that multiple gold zones are present within a 500 x 1000 m area surrounding April Pond. The initial results obtained from Hole 18 clearly validate this reasoning.

Site No.LocationObjective
1SE end of April Pond Test contact zones of a very pyritic porphyry intersected in vertical RC hole No. 92
2Between DDHs 15 and 17 Test indications that the Au-Ag zone in DDH-15 is oriented parallel to the drill hole
3Near DDH 06 Test conglomerate-hosted mineralization at bottom of Hole 06 (10 m @ 0.8 g/t Au)
4At April Showing Establish setting of showing and test potential below historical 40 m drilled depth
5Near DDHs 07, 08, 16Test indications that the Au-Ag zone in DDH-07 is oriented parallel to the drill hole
6Line 4+00 WestTest strong bullseye IP anomaly on basalt/tuff-breccia contact

 

Table 1 - Locations and objectives of the six scout holes. Approximately eighteen holes are planned.

The new mineralized zone in Hole 18 is 350 m across strike from the Discovery Zone. It occurs at a shallow depth of just 100 m and, based on the high Au-Ag-As content of the overlying glacial till, probably extends to surface. Ironically, it lies directly beneath a clearing that Placer Dome used as a campsite in 1992 while drilling the porphyry Cu mineralization of the historical C-Zone (Fig. 2).

The gold mineralization of the new zone occurs in strongly altered, sulphidized, brecciated (Fig. 3) and stockwork-veined (Fig. 4) siltstone proximal to a strongly pyritized biotite-feldspar porphyry body that was intersected in the final reverse circulation (RC) drill hole, No. 92, of Tower's 2017-2020 till sampling programs. The main sulphide minerals are pyrite and pyrrhotite with 0.5 to 2% arsenopyrite, the principal gold associate at Nechako. Only minor sphalerite, the principal silver associate, is present. Therefore, the Ag concentration (7.2 g/t; Table 2) is not as high as in the more sphalerite-rich Discovery Zone.

The Au concentration in the seven analyzed samples is very consistent, ranging from 1.14 to 5.91 g/t (Table 2), and the average 2.0 g/t grade of the 7.3 m section is not unduly influenced by any one sample. That is, the entire section is significantly mineralized; there is no detrimental nugget effect and no need to "cut'' any gold assays.

Interval (metres)
Sample No.FromToLengthg/t Aug/t Ag
725274153.2154.61.41.1412.0
725275154.6155.40.81.329.9
725276155.4155.90.52.2715.9
725277155.9156.70.85.917.1
725278156.7157.10.43.854.2
725279157.1159.01.91.173.9
725280159.0160.51.51.493.6
Weighted average grades 2.07.2

 

Table 2 - Au and Ag analyses for the first 7.3 m of the new 10.5 m wide gold zone in Hole APR-18.

Stu Averill, P.Geo., a Company Director, commented: "Having learned the mineralizing controls at Nechako step-by-step from our previous drilling programs, we are now hitting mineralization more predictably and thus more frequently and at an increasingly larger scale. Our new discovery in Hole 18 is both an example of this progress and a portent of the possibilities that lie ahead."

Methods and Qualified Person

The drill holes are being logged by Mr. Dane Bridge, MSc., P.Geo., a seasoned mineral exploration geologist with extensive experience on the Nechako Gold property.

Split samples of the DD core, generally 1-2 m in length, are prepared at Tower's core logging facility at Tatelkuz Ranch near the Nechako property. Each sample is then prepared for analysis and analyzed at Activation Laboratories (ActLabs) in Kamloops, BC, a laboratory certified as ISO/IEC 17025 Accredited (Lab 790) by the Standards Council of Canada. The samples are analyzed for gold by fire assay and ICP-OES and for 37 further elements, including Ag, As, Zn, Pb and Cu, by ICP-OES using a four-acid, near-total digestion. Over-limit (>5 g/t Au, >100 g/t Ag, >1% As, Zn or Cu, >0.5% Pb) analyses are repeated using the same procedures but at a higher detection range. QA/QC samples including blanks and standards are inserted regularly into the sample sequence at a ratio of approximately 1:15.

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.

Cannot view this image? Visit: https://orders.newsfilecorp.com/files/5023/82049_452381b5f485b913_002.jpg

Figure 1 - Location of the Nechako Gold property

To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/5023/82049_452381b5f485b913_002full.jpg

Cannot view this image? Visit: https://orders.newsfilecorp.com/files/5023/82049_452381b5f485b913_003.jpg
Figure 2 - Proposed sites and geological targets of the first ten drill holes of the planned eighteen-hole drill program. The first six sites are scout holes to guide the placement of some of the remaining holes. Sites 7 to 10 are designed to extend the Discovery Zone along strike and to depth.

To view an enhanced version of Figure 2 please visit:
https://orders.newsfilecorp.com/files/5023/82049_452381b5f485b913_003full.jpg

Cannot view this image? Visit: https://orders.newsfilecorp.com/files/5023/82049_452381b5f485b913_004.jpg

Figure 3 - Strongly sericitized, sulphidized and brecciated section from Hole APR-18 grading 5.91 g/t Au and 7.1 g/t Ag over 0.8 metres

To view an enhanced version of Figure 3, please visit:
https://orders.newsfilecorp.com/files/5023/82049_452381b5f485b913_004full.jpg

Cannot view this image? Visit: https://orders.newsfilecorp.com/files/5023/82049_452381b5f485b913_005.jpg

Figure 4 - Strongly silicified, sericitized and stockwork-veined section from Hole APR-18 grading 2.27 g/t Au and 15.9 g/t Ag over 0.5 metres.

To view an enhanced version of Figure 4, please visit:
https://orders.newsfilecorp.com/files/5023/82049_452381b5f485b913_005full.jpg

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 Nechako gold-silver project near Artemis' Blackwater project and the Rabbit North copper-gold porphyry project located between the New Afton and Highland Valley Copper mines.

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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/82049

info