Tower Resources Exercises Option on Rabbit North and Announces Combined RC and Diamond Drilling Program at Nechako
TSX VENTURE: TWR
Vancouver, British Columbia--(Newsfile Corp. - November 20, 2018) - Tower Resources Ltd. (TSXV: TWR) (OTCQB: TWRFF) ("Tower" or the "Company") is pleased to report that it has fully exercised its option on the Rabbit North copper-gold project in British Columbia and now holds a 100% interest in the properties. Over the past two years Tower has identified a number of promising alkalic porphyry targets containing high grades of copper-gold mineralization over significant widths in structurally controlled chutes, including 0.97% Cu and 0.62 g/t Au (1.39% CuEq) over 26.5 metres in drill hole RN17-015 (included within 247m of 0.51% Cu and 0.34 g/t Au, or 0.75% CuEq) in the Western Magnetite Zone. Future exploration work will include high resolution 3D DCIP (direct current induced polarization) ground based geophysical surveys to define the orientation of the mineralized structures prior to diamond drilling. The road-accessible Rabbit North project comprises approximately 16,400 hectares in the infrastructure-rich copper and gold porphyry belt of southern British Columbia. The project is strategically located 14 kilometres southwest of the producing New Afton copper and gold mine (New Gold Inc.) and approximately 28 kilometres northeast of the producing Highland Valley copper mine (Teck Resources Ltd.)
Tower is also pleased to announce that the next phase of work at the Nechako gold project has been approved by the board of directors and is expected to be completed in Q1 2019. This phase of work will include up to 20 reverse circulation drill holes designed to locate the bedrock source of the sulphide-rich, Au-Ag-As-Pb-Zn dispersal train identified in the 2017 RC program, below the original gold grain anomaly outlined in 2016 surface till sampling. Additionally, a 400 m vertical diamond drill hole will probe the core of the newly discovered Blue Road porphyry, a large (2 km), pervasively argillic-altered and pyritized porphyry stock discovered beneath thick overburden during the 2017 RC drilling program. Together the two components provide the Company with an opportunity of making a new poly-metallic discovery at Nechako.
"The Nechako and Rabbit North projects in British Columbia are the foundation of Tower's work plans for the next year" adds Garett Macdonald, CEO. "Exploration at both projects benefit from the work completed over the last two years that has greatly narrowed the search area for discovering the sources of the high grade mineralization at both projects. The task now is to conduct cost-efficient exploration by defining the targets for the next round of diamond drilling".
Methods and Qualified Person
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
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