Vancouver, B.C. -
Tower Resources Ltd. reports exploration results
from its recently completed 2013 program at Tower's 100% controlled
JD Project. The JD Property is comprised of
over 15,000 hectares located approximately 50 kilometers north of
Aurico Gold Inc's past producing Kemess Mine.
Tower discovered
a significant porphyry related hydrothermal
alteration system in which classic alteration, mineralization and
veining were encountered in three holes along a strike length of
850 metres. The dominantly phyllic (quartz + sericite + pyrite)
alteration with anomalous copper mineralization is believed to be
related to a deeper copper (Cu) mineralized porphyry system as one
hole (JD-13-025) bottomed in 1.4 metres of 4665 parts per million
(ppm) Cu hosted in an altered intrusion at 229 metres down-hole.
Furthermore, the three holes tested only a small portion of an IP
(Induced Polarization) chargeability anomaly Tower identified
earlier in the program. The chargeability anomaly is largely
coincident with a poly-element (copper, gold, silver, and
tellurium) soil geochemical anomaly and an 800 by 800 magnetic
anomaly identified in an historic airborne geophysical survey.
Together, Tower concludes that a program including a deep
penetrating IP surveys followed by a diamond drilling program are
warranted in the area of JD-13-025 to fully test the porphyry
potential of the JD Project.
The style and scale of phyllic alteration
overprinting potassic alteration and mineralization discovered by
Tower is comparable to the mineralized system at the nearby Kemess
North copper and gold porphyry project (100 million tonne mineral
reserve at 0.56 grams per tonne (g/t) Au with 0.28% Cu; 43-101
Technical Report, December 31, 2012) currently being advanced by
Aurico Gold Inc. At Kemess North, porphyry mineralization is found
below a thick halo of mostly barren phyllic alteration which
commonly extends to depths greater than 150 metres from surface.
The Kemess North project is approximately 40 kilometers south of
the JD project.
President Mark Vanry
states, "We completed the 2013 exploration
program within budget and made a new discovery to cap off a
successful program at JD. The size and nature of the alteration
system we discovered indicates that a robust porphyry related
hydrothermal system underlies the eastern side of the JD project.
The presence of anomalous copper mineralization throughout this
alteration zone bodes well for the discovery of higher grade
mineralization with further exploration."
Tower designed its
2013 exploration program to build on encouraging results obtained
from its Phase 1 2012 program concentrated within and near the Finn
Zone. The 2013 program consisted of 11 line kilometers of Induced Polarization (IP) l surveys and 2100
metres of exploration drilling.
Induced
Polarization Geophysical Survey
The IP survey covered
a grid with a footprint of roughly 1.6 by 2 kilometers with lines
spaced 200 and 400 metres apart. Three lines spaced 200 metres
apart were run over the known extent of the Finn Zone to establish
a geophysical baseline for chargeability and resistivity response
associated with epithermal related mineralization and alteration.
Two lines spaced 400 metres apart were also run east and
topographically below the Finn Zone where a poly-element
geochemical anomaly identified in 2012 and a coincident large
(roughly 800 by 800 metres in dimension) geophysical magnetic
anomaly exists. Previous to the IP survey, Tower's technical team
speculated that these features may represent a buried porphyry
system. The IP survey was carried out by
Scott Geophysics Ltd. of Vancouver from July 19th to August 1st,
2013.
IP line 11N, located
east of the Finn Zone returned a 900 meter long +16 mV/V
chargeability anomaly partially coincident with a magnetic and
geochemical anomaly. The closest historic drill hole is over 900
metres northwest on the Finn Zone grid. Line 10N, located 400
metres west of line 11N returned similar results where the
strongest chargeability response were on the northern and southern
ends of the array, 1.6 km apart, in areas of lower topography.
There is a uniform increase in chargeability along this line with
depth suggesting that below the relatively flat-lying Toodoggone
Fm. volcanic rocks the same anomaly seen in line 11N exists.
Together, these anomalies were tested with 3 diamond drill holes;
JD-13-025, JD-13-026 and JD-13-028.
Please refer to map
of the IP survey posted on Tower's website
(www.towerresources.ca).
Diamond
Drilling
The 2013 diamond
drill program was designed to investigate the continuity of gold
and silver mineralization between the Finn Zone and step-out hole
JD-12-015 drilled in 2012 (see October 11th, 2012 News Release) and the extent of
mineralization along strike to the west and east from the Finn
Zone. Furthermore, Tower tested new target areas identified in the
IP survey. Please refer to drill hole map posted on Tower's
website.
Drill hole JD-13-025
tested the southern fringe of the northern chargeability anomaly on
IP line 10N. The hole collared in chlorite + epidote altered
plagioclase porphyritic volcanic rocks which transitioned into
intense phyllic alteration characterized by strong
quartz-sericite-pyrite alteration at 55 metres down-hole.
Throughout this zone disseminated and vein hosted pyrite +/-
chalcopyrite persists with local small intervals with highly
elevated copper mineralization consisting of chalcopyrite (e.g.,
3 metres of 0.94% Cu with 14g/t Ag at 66
metres). Clots of pyrite are ubiquitous throughout and replace
mafic phenocrysts. At 210 metres early potassic alteration
assemblages characterized by potassium feldspar and magnetite
associated with quartz-pyrite veins predominates as sharp vein
halos. The parent augite + plagioclase porphryritic volcanic rocks
are in contact with an altered feldspar porphyritic quartz
monzonite intrusion at 220 metres. A quartz stockwork zone
mineralized with pyrite and chalcopyrite overprinting the altered
intrusion at 228 metres was encountered. The hole ended at 230.12
metres and bottomed in 1.4 metres of 4665ppm Cu with 3.4 g/t
Ag.
Drill hole JD-13-028
was designed to test the northern extent of the IP chargeability
anomaly identified along IP line 11N. This hole collared 500
metres south of JD-13-025. The hole intersected
varying degrees of QSP alteration with local zones where an earlier
potassic alteration assemblage was observed. The hole contained a
wide interval of anomalous copper mineralization (i.e., 321 metres
of 333 ppm Cu from surface).
Drill hole JD-13-026
was drilled near the center of the chargeability anomaly identified
in IP line 11N. This hole collared 850 metres south of JD-13-025.
From collar to end of hole the hole intersected near continuous
intense QSP alteration overprinting what is interpreted to be Takla
Group intermediate volcanic rocks. This alteration is characterized
by intense quartz + sericite alteration cut by polyphase vein-sets
composed of varying quartz-sulphide, calcite, gypsum/anhydrite,
fluorite, and sericite assemblages. Local zones of intense
hydrothermal brecciation with cuspate walled clasts were also
observed as well as zones of intense early (?) magnetite
alteration. This high-level portion of the hydrothermal system
appears to be barren as no economic concentrations of copper or
gold were intersected other than a short interval of higher grade
gold mineralization at 310 metres (i.e., 2 metres of 6.03 g/t
Au).
Drill hole JD-13-024
was collared west of the Finn Zone in hanging wall volcanic rocks
to the Finn Zone structure. This hole was designed to test the
western extent of mineralization along strike from the Finn Zone.
The hole is 400 metres northwest of drill
hole JD-12-014 (see Tower's September 27th, 2012 News Release) which was Tower's
western most hole near the Finn Zone. Drill
hole JD-13-024 intersected Finn Zone style mineralization
highlighted by a 7 metres assaying 2.89g/t Au with 32.5g/t Ag from
118 metres down hole. This interval is characterized by strong
silica alteration cut by quartz + pyrite + galena +/- chalcopyrite
veins. Although the grade of this interval is not as high as the
core of the Finn Zone, Tower is highly encouraged by the presence
of gold and silver mineralization hosted in the same
volcano-stratigraphic unit 400 metres west of the Finn
Zone.
Drill
holes JD-13-019 and JD-13-020 were collared
on a large gossanous slope between the Finn Zone grid and drill
hole JD-12-015. Hole JD-13-019, drilled on a 200o azimuth, intersected intense clay +
sericite + pyrite altered plagioclase porphyritic volcanic rocks to
98 metres which transitioned into moderate carbonate + epidote
altered volcanic rocks cut by quartz + sulphide veins with strong
potassium feldspar alteration halos. This hole contained anomalous
intervals of copper and gold mineralization but did not intersect
Finn Zone style epithermal related mineralization. Hole, JD-13-020,
drilled on a 020o azimuth, failed to reach target depth but still intersected
anomalous gold and silver mineralization from 152 to 188 metres
down hole. This style of alteration and mineralization was similar
to that in JD-12-015 where an intersection of 1.55g/t Au over 20
metres was returned in 2012.
Drill hole JD-13-021
was collared 95 metres west of JD-12-015. The hole intersected
local zones of anomalous gold and silver mineralization from 113 to
179 metres down-hole associated with moderate silica + sericite
alteration with disseminated pyrite cut by late carbonate
veins.
Drill holes JD-13-022 and JD-13-023 were
collared east of the Finn Zone (i.e., 380 metres east northeast of
drill hole JD-12-008; see Tower's October 2nd, 2012 News Release) designed to test an
IP chargeability anomaly identified earlier in the program.
JD-13-022 returned two intervals of anomalous copper mineralization
hosted in propylitically altered (epidote + chlorite + calcite)
volcanic rocks. Anomalous zones of copper, gold and silver
mineralization were also encountered in JD-13-023 associated with
pervasive quartz + sulphide veins cutting propylitically altered
volcanic rocks.
Drill hole JD-13-027
was designed to test Tower's structural theory relating to an
eastern down-faulted continuation of the same volcano-stratigraphic
horizon that hosts the Finn Zone. The hole intersected typical Finn
Zone hanging-wall volcanic rocks and was terminated prior to target
depths due to drilling conditions.
Table of selected highlights of length
weighted drill intersections:
------------------------------------------------------------------
|Drill Hole|From (m)|To (m) |Width |Au (g/t)|Ag (ppm)|Cu (ppm)|
|1 | | |2 (m) | | | |
|----------------------------------------------------------------|
| | | | | | | |
|----------------------------------------------------------------|
|JD-13-019 |152.0 |211.0 |59.0 |0.13 |2.6 |418 |
|----------------------------------------------------------------|
|inc |153.0 |156.0 |3.0 |0.35 |8.4 |1823 |
|----------------------------------------------------------------|
|inc |167.0 |172.0 |5.0 |0.12 |7.7 |792 |
|----------------------------------------------------------------|
|inc |181.0 |188.0 |7.0 |0.06 |3.2 |985 |
|----------------------------------------------------------------|
| | | | | | | |
|----------------------------------------------------------------|
|JD-13-020 |152.0 |163.0 |11.0 |0.38 |1.1 | |
|----------------------------------------------------------------|
| |167.0 |178.0 |11.0 |0.80 |1.9 | |
|----------------------------------------------------------------|
| |184.0 |189.0 |5.0 |2.28 |2.9 | |
|----------------------------------------------------------------|
|inc |187.0 |188.0 |1.0 |10.30 |8.8 | |
|----------------------------------------------------------------|
| | | | | | | |
|----------------------------------------------------------------|
|JD-13-021 |113.0 |115.0 |2.0 |0.62 |2.5 | |
|----------------------------------------------------------------|
| |121.0 |122.0 |1.0 |1.06 |1.7 | |
|----------------------------------------------------------------|
| |140.7 |144.0 |3.3 |0.57 |3.0 | |
|----------------------------------------------------------------|
| |149.0 |164.5 |15.5 |0.48 |2.2 | |
|----------------------------------------------------------------|
| |172.0 |179.0 |7.0 |0.86 |1.4 | |
|----------------------------------------------------------------|
| | | | | | | |
|----------------------------------------------------------------|
|JD-13-022 |7.9 |32.0 |24.1 |0.07 |1.7 |213 |
|----------------------------------------------------------------|
| |87.0 |139.0 |52.0 |0.01 |0.6 |164 |
|----------------------------------------------------------------|
| | | | | | | |
|----------------------------------------------------------------|
|JD-13-023 |24.0 |57.0 |33.0 |0.06 |2.1 |476 |
|----------------------------------------------------------------|
|inc |39.0 |47.0 |8.0 |0.11 |4.0 |1079 |
|----------------------------------------------------------------|
| | | | | | | |
|----------------------------------------------------------------|
|JD-13-024 |113.0 |125.0 |12.0 |1.75 |38.1 | |
|----------------------------------------------------------------|
|inc |118.0 |125.0 |7.0 |2.89 |32.5 | |
|----------------------------------------------------------------|
| |132.0 |138.0 |6.0 |0.51 |0.2 | |
|----------------------------------------------------------------|
| | | | | | | |
|----------------------------------------------------------------|
|JD-13-025 |32.0 |69.0 |37.0 |0.02 |2.1 |975 |
|----------------------------------------------------------------|
|inc |66.0 |69.0 |3.0 |0.09 |14.2 |9462 |
|----------------------------------------------------------------|
| |222.0 |230.1 |8.1 |0.01 |0.8 |962 |
|----------------------------------------------------------------|
|inc |228.7 |230.1 |1.4 |0.02 |3.4 |4665 |
|----------------------------------------------------------------|
| | | | | | | |
|----------------------------------------------------------------|
|JD-13-026 |310.0 |312.0 |2.0 |6.03 |0.6 | |
|----------------------------------------------------------------|
| |325.0 |326.0 |1.0 |1.54 |0.1 | |
|----------------------------------------------------------------|
| | | | | | | |
|----------------------------------------------------------------|
|JD-13-028 |9.0 |330.0 |321.0 |0.02 |0.6 |333 |
|----------------------------------------------------------------|
|inc |45.7 |48.0 |2.3 |0.03 |1.1 |917 |
|----------------------------------------------------------------|
|inc |114.0 |121.0 |7.0 |0.03 |1.4 |762 |
|----------------------------------------------------------------|
|inc |143.0 |151.0 |8.0 |0.02 |0.6 |1090 |
|----------------------------------------------------------------|
|inc |222.0 |232.0 |10.0 |0.02 |1.3 |876 |
|----------------------------------------------------------------|
|inc |322.0 |324.0 |2.0 |0.02 |1.6 |3371 |
|----------------------------------------------------------------|
|1. Refer to collar table | | | | |
|for drill hole locations | | | | |
|----------------------------------------------------------------|
|2. Widths reported are drill widths. True | | |
|widths are unknown. | | |
------------------------------------------------------------------
Quality Assurance and
Control:
The 2013 drilling and sampling program
at JD was supervised by Christopher Leslie, M.Sc., Vice President,
Exploration for Tower Resources. The technical and scientific
nature of this news release was supervised, reviewed and approved
by Ken Thorsen, B.Sc., P.Eng., and consultant to the Company, who
serves as a Qualified Person under the definition of National
Instrument 43-101.
Table of Drill Hole Locations
-------------------------------------------------------------
|Hole ID |Easting|Northing|Azimuth (|Dip ( |Total Depth (m)|
| | | |o ) |o ) | |
|-----------------------------------------------------------|
|JD-13-019|611256 |6367954 |200 |-65 |211.23 |
|-----------------------------------------------------------|
|JD-13-020|611256 |6367954 |20 |-65 |201.47 |
|-----------------------------------------------------------|
|JD-13-021|611194 |6368117 |200 |-65 |242.93 |
|-----------------------------------------------------------|
|JD-13-022|611646 |6367870 |200 |-65 |138.99 |
|-----------------------------------------------------------|
|JD-13-023|611646 |6367870 |0 |-90 |63.40 |
|-----------------------------------------------------------|
|JD-13-024|610814 |6368011 |210 |-65 |162.15 |
|-----------------------------------------------------------|
|JD-13-025|612216 |6368112 |200 |-65 |230.12 |
|-----------------------------------------------------------|
|JD-13-026|612406 |6367279 |230 |-75 |424.18 |
|-----------------------------------------------------------|
|JD-13-027|611914 |6367715 |160 |-70 |114.28 |
|-----------------------------------------------------------|
|JD-13-028|612314 |6367614 |315 |-50 |351.74 |
|-----------------------------------------------------------|
|Collar Coordinates: NAD83 UTM Zone 9 |
-------------------------------------------------------------
Core samples were prepared at Tower's
core logging facility at the JD camp and shipped in sealed and
secure bags to Acme Analytical Laboratories preparation lab in
Smithers, BC. Here, samples were prepared
using standard preparation procedures. Samples were then analyzed
at Acme's Vancouver, BC laboratory for gold by 30 gram fire assay
fusion with AAS finish; samples that yielded results greater than
10g/t Au were re-assayed using a 30 gram fire assay with a
gravimetric finish. 36 elements, including silver, copper, lead and
zinc, were analysed by ICP-MS using an aqua regia digestion.
Over-limit (>100 ppm) silver was re-analysed by a 30 gram fire
assay with gravimetric finish. Over-limit lead and zinc (>1%)
was re-analysed by ICP-ES finish using an aqua regia digestion.
Quality assurance and quality control procedures include the
systematic insertion of blanks, certified standards and duplicate
samples into the sample stream followed by careful monitoring of
results.
Tower Resources Ltd.
Mark Vanry - Director, CEO & President
(604) 558-2565
mvanry@towerresources.ca
www.towerresources.ca
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 Statements
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 Towers 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.
Tower Resources (TSXV:TWR)
Historical Stock Chart
From Oct 2024 to Nov 2024
Tower Resources (TSXV:TWR)
Historical Stock Chart
From Nov 2023 to Nov 2024
