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Tower Resources Ltd.
Summary
| Project: | Rabbit North | |
|---|---|---|
| Deposit: | Rabbit North | |
| Location: | Canada | |
| Commodities: | Gold | |
| Date: | 12/8/2016 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 8-12-2016: Tower Resources Ltd. announces an Exploration/Drilling Update report for its Rabbit North deposit at the Rabbit North project. Drilling results incl. 200m @ 0.30% Cu, 0.15g/t Au from 46m. Vancouver B.C. -- Tower Resources Ltd. (“Tower” or the “ | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Nils Peterson (Internal) | |
| ABSTRACT: | Vancouver B.C. -- Tower Resources Ltd. (“Tower” or the “Company”) is pleased to report significant copper-gold mineralization has been intersected at its flagship Rabbit North project, near Kamloops, British Columbia. Drill hole RN-008 intersected 200 metres of 0.30% copper and 0.15 grams per tonne (g/t) gold (0.42% copper equivalent), including a 72m interval of 0.47% copper and 0.20g/t gold (0.63% copper equivalent). The road-accessible Rabbit North property comprises approximately 16,400 hectares in the prolific copper porphyry belt of southern British Columbia. The producing New Afton copper and gold mine is approximately 14 kilometers east of the main Rabbit North targets; Rabbit North is also 28 kilometers east of the world-class Highland Valley Copper Mine operated by Teck Resources Ltd. President Mark Vanry states, “The large interval of copper and gold mineralization intersected by RN-008 has bested every previous drill hole on the property. To drill this interval of mineralization in the region of the Highland Valley, Afton, and Ajax deposits in southern BC is truly exciting.” Drill hole RN-008 was completed in the Western Magnetite Zone, on the western margin of the Durand Stock, a Late Triassic monzonite to diorite composite intrusion. The drill hole was collared near P70-01, a historic shallow percussion drill hole which ended in 6.1m of 0.38% copper (Cu) with gold (Au) unassayed. Mineralization in RN-008 started at top of bedrock. Chalcopyrite, associated with pyrite and commonly secondary biotite, occurs in veinlets and as disseminations replacing mafic phenocrysts and/or primary magnetite; moderate to strong albite alteration is associated. Mineralization is hosted in Nicola Group volcaniclastics to volcanics. Of significance is the magnetite destructive nature of the alteration related to mineralization; previous drilling had focused on strong magnetic anomalies postulated to represent magnetite alteration in the alkalic porphyry system. | |
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