Tower Resources Reports Nechako Drill Results
TSX VENTURE: TWR
Vancouver, British Columbia--(Newsfile Corp. - August 23, 2018) - Tower Resources Ltd. (TSXV: TWR) (OTCQB: TWRFF) ("Tower" or the "Company") is pleased to provide an update at the Company's Nechako gold project in British Columbia. The Nechako gold project is is located approximately 30 kilometres northeast of New Gold's Blackwater development project in the Nechako Plateau Region of central British Columbia. The project is road accessible and comprises 10 mineral tenures totaling 2,975 hectares. Exploration work at the project has identified a number of targets including epithermal gold and silver minerlaization and also porphyry copper and gold mineralization.
The Company recently completed an initial diamond drill program at Nechako comprising 5 holes for a total of 751 metres to follow up on strong gold in till anomalies identified in the 2017 RC program (Press Release May 15, 2018). Results from this program are highlighted in Table 1 below. The intense alteration encountered in Tower's 2018 diamond drilling program demonstrates that the Nechako property continues to show potential for discovery of large scale gold and copper mineralization. A second round of RC drilling and till sampling is planned for Nechko prior to initiating a the next round of diamond drilling.
Table 1: Assay Results:
|DDH||From (m)||To (m)||Width* (m)||Cu (%)||Au (g/t)|
|NDH-18-001||No Significant Assays|
|NDH-18-002||No Significant Assays|
|NDH-18-003||No Significant Assays|
|NDH-18-005||Drill Hole Did Not Reach Target|
*Width refers to drill hole intercept and may not represent the true width of the mineralization.
NDH-18-004 was drilled further up-ice (1300 metres) from the strongest gold in till anomaly seen in RC drilling. This hole is characterized by strong to intensely altered dacitic volcanic rocks with up to 5% pyrite with trace associated basemetal sulphides (chalcopyrite, galena and sphalerite).
NDH-18-001, NDH-18-002 and NDH-18-003 drilled approximately 500 metres 'up-ice' of the strongest gold in till anomaly identified in RC drilling. These drill holes intersected relatively unaltered sequences of dacitic flows and interbedded fine sedimentary horizons. No significant mineralization was encountered in these drill holes.
NDH-18-005 was drilled approximately 100 metres from NDH-17-004 but failed to penetrate strongly silicified and fractured rock encountered immediately below casing.
Methods and Qualified Person
Drill core samples (generally 2-metre sample length) were prepared at Tower's core logging facility located on site at the Nechako project and shipped to Activation Laboratories Ltd. (Actlabs) ISO 17025 accredited geochemistry lab in Kamloops, BC. Samples were analyzed for gold by fire assay and ICP-OES and for 37 further elements, including copper, using a four-acid, near-total digestion. QA/QC samples including blanks, standards and duplicate samples were 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 Darrell Hyde, P.Geo., Exploration Manager for the Company and 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.
Garett Macdonald, President, CEO & Director
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.