Tower Resources Provides 2014 Rabbit North Exploration Update; Identifies New Target


Follow this company

Companies Mentioned

TSX.V:TWR
08/25/2014 [ACCESSWIRE]

Vancouver, BC / ACCESSWIRE / August 25, 2014 / Tower Resources Ltd., (TSX.V: TWR) provides results from its ongoing multidisciplinary 2014 program at the Rabbit North copper (Cu) - gold (Au) property located in the active Kamloops Mining District of south-central British Columbia. The current 2014 program at Rabbit North consists of detailed geological mapping, rock-chip sampling and prospecting in areas with limited historic work and areas with prospective drill targets.

Earlier this spring, Tower discovered the poorly exposed Chrysocolla East target (see Tower's June 11th, 2014 Press Release) by way of ground-truthing coincident geophysical anomalies identified by Tower in 2013. Tower's technical team concluded that additional copper and gold targets may exist in other areas with similar geophysical features. This concept formed the framework for the first comprehensive property scale exploration program on the project and led to the discovery of the newly defined Central Monzonite South target.

Mark Vanry, Tower's president and CEO, comments: "Our exploration efforts on Rabbit North this season have already yielded two significant target discoveries. We will continue to systematically explore the property and evaluate these targets with the goal of refining the best targets to move forward."

The Central Monzonite South target covers an area of at least 530 by 160 metres where outcrop is best exposed along subtle north trending ridges. This new target is located within the previously described Central Monzonite Zone (CMZ, see Tower's October 22nd, 2013 Press Release) and represents mineralization hosted within the core monzonite phase of the Durand Stock. The center of this target is approximately 620 meters southwest of the main Central Monzonite high-grade showing (i.e., sample 1790454, 1.02% Cu, 0.43g/t Au and 7.4g/t Ag (silver), Tower's October 22nd, 2013 Press Release) and 650 metres southeast of historic drill hole 97-08. This drill hole bottomed in mineralization and is the only diamond drill hole to test for mineralization at depth in the Durand monzonite core. An interval of 31 metres assaying 0.25% Cu with 0.10g/t Au was returned from the bottom of the hole starting at 156 metres.

Copper and gold mineralization of the Central Monzonite South target is dominantly hosted in equigranular to porphyritic monzonite and locally within small syenite bodies or plugs. Mineralization is characterized by disseminated and clotted chalcopyrite +/- bornite associated with varying degrees of epidote + carbonate + sericite alteration. Copper sulphides appear to be replacing mafic minerals and are in place oxidized to malachite + azurite with nondescript white clay. In total, 48 grab samples were collected from outcrops and subcrops from across this target for geochemical analyses. Samples returned results as high as 0.62% Cu with 0.73g/t Au (sample 1717194).

The Central Monzonite South target is on the shoulder of a largely untested IP (Induced Polarization) chargeability high anomaly that spans 1.9 by 1.4 kilometers (see Tower's January 27th, 2014 Press Release). Furthermore, the target is near a magnetic geophysical break governed by the geological contact between the monzonite core (magnetic low) and the outer diorite rim (magnetic high). In fact, most showings from throughout the Central Monzonite Zone are near this contact. Although mostly covered by overburden, this contact represents a primary exploration target in the Central Monzonite Zone and will continued to be evaluated.

The reader is referred to Tower's website for updated project map showing the recently discovered Central Monzonite South target (www.towerresources.ca).

Table of 2014 Selected Grab Sample Highlights from the Central Monzonite South (CMZ South) Target

 -------------------------------------------------
 |Sample |Type|Area     |Cu (%)|Au (g/t)|Ag (g/t)|
 |-----------------------------------------------|
 |1717200|grab|CMZ South|0.63  |0.40    |7.00    |
 |-----------------------------------------------|
 |1717194|grab|CMZ South|0.62  |0.73    |4.27    |
 |-----------------------------------------------|
 |2377009|grab|CMZ South|0.47  |0.94    |3.75    |
 |-----------------------------------------------|
 |2377503|grab|CMZ South|0.38  |0.53    |3.17    |
 |-----------------------------------------------|
 |2377006|grab|CMZ South|0.34  |0.43    |1.75    |
 |-----------------------------------------------|
 |2377016|grab|CMZ South|0.32  |0.73    |3.43    |
 |-----------------------------------------------|
 |2377509|grab|CMZ South|0.32  |0.58    |3.28    |
 |-----------------------------------------------|
 |2377510|grab|CMZ South|0.28  |0.27    |2.04    |
 |-----------------------------------------------|
 |2377013|grab|CMZ South|0.26  |0.30    |1.70    |
 |-----------------------------------------------|
 |2377513|grab|CMZ South|0.24  |0.46    |1.71    |
 |-----------------------------------------------|
 |2377511|grab|CMZ South|0.24  |0.31    |1.88    |
 |-----------------------------------------------|
 |2377508|grab|CMZ South|0.23  |0.55    |2.78    |
 |-----------------------------------------------|
 |2377505|grab|CMZ South|0.23  |0.25    |1.84    |
 |-----------------------------------------------|
 |2377014|grab|CMZ South|0.21  |0.07    |1.05    |
 |-----------------------------------------------|
 |1717192|grab|CMZ South|0.21  |0.34    |1.58    |
 |-----------------------------------------------|
 |2377501|grab|CMZ South|0.20  |0.31    |1.49    |
 |-----------------------------------------------|
 |2377502|grab|CMZ South|0.19  |0.28    |1.42    |
 |-----------------------------------------------|
 |1717199|grab|CMZ South|0.15  |0.30    |1.63    |
 |-----------------------------------------------|
 |2377516|grab|CMZ South|0.14  |0.21    |1.12    |
 |-----------------------------------------------|
 |2377015|grab|CMZ South|0.14  |0.16    |1.06    |
 |-----------------------------------------------|
 |1717190|grab|CMZ South|0.13  |0.12    |1.20    |
 |-----------------------------------------------|
 |2377008|grab|CMZ South|0.13  |0.18    |0.84    |
 |-----------------------------------------------|
 |1717189|grab|CMZ South|0.12  |0.06    |1.05    |
 |-----------------------------------------------|
 |1709489|grab|CMZ South|0.11  |0.23    |0.80    |
 |-----------------------------------------------|
 |1717195|grab|CMZ South|0.11  |0.11    |0.74    |
 |-----------------------------------------------|
 |2377005|grab|CMZ South|0.11  |0.12    |0.62    |
 -------------------------------------------------

Tower cautions readers that grab samples are selective in nature and that the resulting assays from the samples may not be representative of all mineralization on the property.

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.

Some technical information contained in this release is historical in nature and has been compiled from sources believed to be accurate. This technical information has not been verified by Tower and may in some instances be unverifiable dependent on the existence of all historical drill core.

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.

The 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

(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 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.

 

SOURCE: Tower Resources Ltd. 

COMMENTS

Leave a comment...
 * 

Your Name
 *