Tower Resources' Drilling Verifies Eskay Creek Deposit Model for the Au-Ag-As-Zn-Pb Mineralization on the April Trend at Nechako
Vancouver, February 13, 2020 - Tower Resources Ltd. (TSXV: TWR) ("Tower" or the "Company") is pleased to report that detailed logging of the core from diamond drill hole No. 06 on the Company's Nechako property has confirmed that this hole intersected mineralized volcanogenic horizons of the same type that host the uniquely high-grade Au-Ag mineralization at the Eskay Creek deposit.
Joe Dhami, President and CEO, commented: "Confirmation of the Eskay Creek mineral deposit model for the April Trend at Nechako gives us further incentive to thoroughly explore this mineralized trend."
At Nechako, Tower is testing the recently discovered April Trend at the head of a large, 1.5 km wide x 3 km long sulphide mineral dispersal train in glacial till (see February 14, 2019 press release). The applicability of the Eskay Creek model to the April Trend was suspected prior to drilling because both the mineral dispersal train and the historical April Showing, a large sulphide breccia vein (Fig. 1) at the northwest end of the trend, are enriched in the same five metals - Au, Ag, As, Zn and Pb - as the Eskay Creek deposit and in roughly the same ratios. Also, in each occurrence, the gold and silver are hidden within the sulphide minerals rather than occurring as visible particles.
Hole 06 was the last hole of an initial diamond drill test of the April Trend in August, 2019. While Holes 01 to 05 intersected an unexpected fault block of unprospective basalt (see September 20, 2019, press release), Hole 06 provided direct physical confirmation of the Eskay Creek model by intersecting:
a) an 8.6-m-thick zone of carbonaceous (graphitic) mudstone, a significant ore host at Eskay Creek;
b) and, at the end of the hole, 9.4 m of an unusual volcaniclastic conglomerate that contains transported centimetric fragments of both graphitic mudstone and volcanogenic sulphides, including massive sphalerite (Zn-sulphide), and closely resembles the main ore host at Eskay Creek.
The previously reported zone of narrow stockwork sulphide veinlets, including a 0.2 m wide vein that contained 2.93 g/t Au, 34.3 g/t Ag, 5.45% Zn and 0.60% Pb, occurs between the mudstone and conglomerate.
Stu Averill, P.Geo., a Director of the Company, added: "The discovery of graphitic mudstone and sulphide-carrying volcaniclastic conglomerate horizons in Hole 06 is key as we can now use the mineral content of these marker horizons to vector toward the volcanic vents from which the sulphide mineral bands in carbonaceous mudstone and sulphide fragments in volcaniclastic conglomerate are normally derived."
Tower plans to conduct a second drilling program using this knowledge. A dual-purpose drill rig capable of both reverse circulation ("RC") and diamond core drilling will be employed. The RC method will be used on approximately 15 vertical holes to rapidly map out the mudstone and sulphide-bearing conglomerate horizons beneath the thick till cover. The till will also be sampled but only visibly sulphide-rich samples will be analyzed. The drill rig will then switch to the diamond drilling mode and drill approximately five angle holes at the visually most prospective sites identified by the RC drilling.
National Instrument 43-101 Disclosure
The technical content of this news release has been reviewed and approved by Mr. Stuart Averill, Chairman of ODM, a Director of the Company and a Qualified Person as defined by National Instrument 43-101.
About Tower Resources
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 are the Rabbit North copper-gold porphyry project located between the New Afton and Highland Valley Copper mines, the Nechako gold project near New Gold's Blackwater project and the More Creek gold project in the Golden Triangle area of Northern British Columbia.
On behalf of the Board of Directors
Tower Resources Ltd.
Joe Dhami, President and CEO
This news release may contain statements which constitute "forward-looking information", including statements regarding the plans, intentions, beliefs and current expectations of the Company, its directors, or its officers with respect to the future business activities of the Company. The words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions, as they relate to the Company, or its management, are intended to identify such forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future business activities and involve risks and uncertainties, and that the Company's future business activities may differ materially from those in the forward-looking statements as a result of various factors, including, but not limited to, fluctuations in market prices, successes of the operations of the Company, continued availability of capital and financing and general economic, market or business conditions. There can be no assurances that such information will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. The Company does not assume any obligation to update any forward-looking information except as required under the applicable securities laws.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Figure 1 - Photograph of a polished section of an 8 cm wide, sulphide-rich, Au and Ag-bearing sample from the April Showing with subequal proportions of sphalerite, pyrite and arsenopyrite.
To view an enhanced version of Figure 1, please visit:
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/52362