Tickers: XTSX:TWR, FRAA:T7Y1
Vancouver, B.C. / TheNewswire / November 21, 2017 – Tower Resources Ltd., (TSX.V: TWR) has completed Phase 2 of the 2017 exploration program on the 100% owned Nechako Gold Project in the Blackwater district of central BC.
In late October, Tower mobilized a Reverse Circulation (RC) rig to the property to sample till and test bedrock below gold rich till cover in priority target areas on the property. Multiple untested or poorly tested target areas have been identified on the property based on highly encouraging results from the ground geophysical Induced Polarization (IP) survey completed on the property in June 2017 and the significant 2016 gold-in-till sample results. In total, 38 RC drillholes were completed over core areas on the property; assays from top of bedrock samples and results from till sampling are pending and will be released once received and interpreted.
A prominent gold grain anomaly at least 3.5 kilometres long by 2 kilometres wide was defined on the property by systematic till sampling in late 2016 (see press release January 18, 2017). Additionally, the June 2017 IP program detected a 1000m by 500m coincident chargeability and resistivity anomaly underlying a previously untested and till covered area of the property adjacent to a major through-going structure. The RC program has been designed to both test bedrock within the newly identified geophysical anomaly and to further delineate the gold-grain-in-till anomaly.
Geological mapping, geochemical sampling and relogging of historic core accompanied the RC drill work. Targets in the center, center-east and center-west of the property tested by RC drilling were developed based on coincident geophysical anomalies in chargeability and resistivity, regional structure, alteration and gold values in historic drillcore, and vectoring towards a gold source based on distribution of gold-in-till values. Follow-up diamond drilling is planned in 2018 to test targets refined through 2017 work programs.
The Nechako Gold property comprises 10 mineral tenures totalling 2,975 hectares in the Nechako Plateau Region of central British Columbia. The road accessible property is located approximately 30 kilometres northeast of New Gold Inc.’s Blackwater development project. Blackwater contains a proven and probable total mineral reserve of 8.2 million ounces of gold with 60.8 million ounces of silver (source: New Gold Inc. website). The Nechako Gold property is deemed prospective for Blackwater-type epithermal gold and silver mineralization and porphyry-related copper and gold mineralization.
Tower Resources Ltd. (TWR.V) is a Vancouver based junior mineral exploration company focused on the discovery and advancement of economic mineral projects, primarily in British Columbia. The company’s key exploration assets are Rabbit North, Nechako Gold and More Creek.
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.
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.
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