06:26:39 EDT Sun 05 May 2024
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Tower Resources Ltd
Symbol TWR
Shares Issued 145,000,000
Close 2024-04-24 C$ 0.085
Market Cap C$ 12,325,000
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Tower Resources identifies link between Rabbit Au zones

2024-04-25 12:30 ET - News Release

Mr. Joe Dhami reports

TOWER ADOPTS STRUCTURAL MODEL CONNECTING THE WIDESPREAD OROGENIC GOLD MINERALIZATION INTERSECTED AT RABBIT NORTH AND PREPARES TO DRILL SYSTEMATICALLY THROUGH 2024

Tower Resources Ltd. has recognized a key structural link between the widely spaced Lightning, Thunder and other orogenic gold zones intersected on its Rabbit North property in the heart of the Kamloops mining district, enabling the company to develop a systematic drilling program for the property through 2024.

Orogenic gold model

Tower's first discovery of gold mineralization of the shear-hosted, copper-free orogenic type at Rabbit North, the Lightning zone, and historical Au occurrences of the same type that were inadvertently intersected in a few of the many historical holes that were drilled on the Durand stock in search of porphyry Cu-Au mineralization, are roughly coincident with an east-northeast-trending fault that is recognizable magnetically. The mineralized part of this fault in the stock appears to be less than 50 metres wide whereas the Au intersections that Tower has since obtained from the volcaniclastic rocks west of the stock are spread over a 300 m wide corridor extending from the Lightning zone northward to a third historical intersection beneath the young Chilcotin basalt flows that cover much of the fertile corridor.

The distribution of significant orogenic-type Au intercepts indicates that the segment of auriferous fault in the Nicola volcanics has at least three branches, with the Lightning and Thunder zones Au lying on the south branch, Thunder North on the central branch and the historical basalt-covered intersection on the north branch. Importantly, the highest Au concentration outside the Lightning zone is on the central branch immediately west of the stock and directly up ice from the east-central part of the Dominic Lake gold grain dispersal train, suggesting that this area is the long-sought main source of the train.

The indicated structural model is a conventional one wherein a narrow compression fault in competent rocks (the Durand stock) broadens to a more permeable extensional horsetail structure where it enters incompetent rocks (Nicola volcaniclastic). The increased permeability abetted upflow of both the Au-bearing hydrothermal fluid and coeval magma that produced the associated QFP (quartz feldspar porphyry) dikes, and also -- much later -- the Chilcotin basalt magma which then flowed west-southwest along the deeply eroded shear zones.

2024 drilling plans

Twelve drill holes are presently planned to systematically test four Au-bearing sections of the branch shear/fault zones identified by previous drilling, including the segment of the central branch up ice from the Dominic Lake train. The results obtained from these holes are expected to show that some of the Au occurrences extend along strike into the much longer (500 to 1,000 m), presently undrilled sections of the shear zones and will require considerable additional drilling.

Significant follow-up drilling is also planned for the Rainbow porphyry copper-gold-molybdenum discovery to the west. As the Rainbow mineralization is hosted by a magnetite-bearing magmatic-hydrothermal breccias that is distinctly magnetic and appears to extend over a broad, approximately 350 by 1,200 m area, vertical holes will initially be drilled to test the strongest magnetic peaks.

Methods and qualified person

The technical content of this news release has been reviewed and approved by Stuart Averill, PGeo, a director of the Company, and a qualified person as defined by National Instrument 43-101.

About Tower Resources Ltd.

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, all in British Columbia, are the Rabbit North copper-gold porphyry project located between the New Afton copper-gold and Highland Valley copper mines in the Kamloops mining district, the Nechako porphyry-associated gold-silver project near Artemis's Blackwater project, and the More Creek epithermal gold project on the critical red line structural zone connecting the mineral deposits of the Golden Triangle.

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