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Tower Resources Ltd.
Summary
| Project: | Nechako | |
|---|---|---|
| Deposit: | Blue Road | |
| Location: | Canada | |
| Commodities: | Gold-Copper | |
| Date: | 2/14/2019 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 14-2-2019: Tower Resources Ltd. announces an Exploration/Drilling Update report for its Blue Road deposit at the Nechako project. Drilling results incl. 12.0m @ 0.02% Cu, 13.6g/t Ag, 0.09% Pb, 0.05g/t Au, 0.26% Zn from 130m. Vancouver, B.C. – February 14, | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Darrell Hyde (Internal) | |
| ABSTRACT: | Vancouver, B.C. – February 14, 2019 ‐ Tower Resources Ltd. (“Tower” or the “Company”) (TSXV: TWR; OTCQB: TWRFF) is pleased to report that it has located the bedrock source area of the large gold grain anomaly that the Company identified two years ago (see June 18, 2017 press release) on its wholly owned Nechako property (Fig. 1) in south‐central British Columbia, Canada, a 1.5‐ hour drive from Vanderhoof via the all‐weather Kluskus‐Ootsa road. The Nechako property is 30 km northeast of New Gold’s Blackwater gold deposit (8.62 Moz of Au resources at 0.88 g/t; New Gold NI‐43‐101 Technical Report, January 14, 2014) on the Interior Plateau where all but the highest hills are thickly covered by till and other glacial sediments that have historically hindered mineral exploration, leaving attractive opportunities for significant new discoveries. Tower’s latest discovery was made during a 13‐hole, Phase II reverse circulation (RC) drilling program in December, 2018, approximately 1.5 km glacially up‐ice from (i.e. west‐southwest of; Fig. 2) the area that was covered in the 38‐hole Phase I program in November, 2017 (see May 15, 2018 press release). A single, 245 m diamond core hole, No. NDH‐18‐006, was also drilled to test the Cu‐Au potential of a large, thickly covered and pervasively argillic‐altered (pyrite + chalky sericite) porphyry intrusion, the Blue Road Porphyry (Fig. 3), that was discovered in the Phase I program. Both RC drilling programs were planned and managed by Overburden Drilling Management Limited (ODM) and employed the same type of RC drill that ODM used in the discovery of the producing Casa Berardi and Rainy River gold mines in Eastern Canada. This drilling system provides much more information than traditional top‐of‐bedrock sampling. Till horizons are sampled continuously from top to bottom and heavy mineral processing is used to recover and concentrate any glacially dispersed grains of gold, sulphides and other indicator minerals, thereby amplifying anomalies and enabling detection of overburden‐covered mineralized zones located several kilometres up the ice flow path from the drill hole. The extracted heavy mineral concentrates (HMCs) are analyzed geochemically for Au, base metals and other elements of interest. The underlying bedrock is also drilled, sampled and analyzed, and a working geological map of the hidden bedrock surface is constructed (e.g. Fig. 3). | |
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