Tower Resources announces 2014 Rabbit North diamond drilling and exploration programadmin
VANCOUVER, B.C. / ACCESSWIRE / April 8 2014 / Tower Resources Ltd., (TSX.V: TWR) announces details for its 2014 field program at the Rabbit North copper (Cu) and gold (Au) property in the active Kamloops Mining District of south-central British Columbia. The road-accessible Rabbit North property consists of 34 mineral tenures covering 16,400 hectares, which are in-part abutting New Gold Inc’s tenures covering the New Afton mine. The producing New Afton copper and gold mine is approximately 14.5 kilometers east of the main Rabbit North target. Rabbit North is also 28 kilometers east-northeast of the producing Highland Valley copper mine operated by Teck Resources Limited, Canada’s largest copper producer.
The multidisciplinary 2014 program will consist of geological mapping, sampling, soil geochemical surveys and up to 2,800 metres of diamond drilling targeting alkalic porphyry related copper and gold mineralization. Tower has defined three primary targets on the Rabbit North property which will form the focus of this year’s diamond drill program. Tower anticipates the program will commence in mid to late May.
Chrysocolla Zone – The Chrysocolla copper and gold porphyry target covers an area of at least 430 by 300 meters and was the focus of exploration drilling in 1997 and 2004. The target is associated with a coincident magnetic high, a chargeability high and a soil geochemical anomaly. Historically, a total of 14 diamond drill holes were completed targeting porphyry related copper and gold mineralization and overprinting vein hosted gold mineralization. Both types of mineralization are hosted in Nicola Group volcanic rocks near the contact with the Durand stock. Drilling in this area in 1997 returned several gold and copper mineralized intersections including 33 metres of 0.76 g/t Au with 0.27% Cu in drill hole DDH-97-17. During the 2013 field season Tower collected samples that assayed up to 1.72 g/t Au with 2.4% Cu and 4.6 g/t Ag from the main Chrysocolla zone (sample 1717045; see Tower’s October 22nd, 2013 New Release).
Western Magnetite Zone – The Western Magnetite copper and gold porphyry target is hosted in the Nicola Group volcanic rocks and is associated with a discrete magnetic high and a deep chargeability high. The magnetic anomaly spans 650 meters and has only been tested on its northern extent with three shallow percussion holes in the 1970’s. Step-out drilling 450 metres to the west in 1997 intersected 31.5 meters that assayed 0.16 g/t Au with 0.37% Cu (DDH-97-09). This target area is open in all directions.
Central Monzonite Zone – The large Central Monzonite copper and gold porphyry target in the core of the Durand Stock is more than 1.5 km long along an east trending axis. Historically the area has been poorly tested, however it comprises the highest grade copper and gold from surface samples to date including up to 1.02% Cu with 0.43 g/t Au and 7.4 g/t Ag (sample 1709454; see Tower’s October 22nd, 2013 News Release). Similar to other targets on the project, the Central Monzonite area is open at depth and in all directions.
Additionally Tower will initiate a detailed geological mapping and prospecting program over the recently acquired 13,550 hectares of mineral tenure located north and south of the main Rabbit North targets. This program will be focused on investigating magnetic anomalies Tower identified from a recently completed airborne geophysical survey which lie on trend with the main magnetic high associated with the mineralized Durand Stock (see Tower’s January 27th, 2014 News Release).
Some technical information contained in this release is historical in nature and has been compiled from sources believed to be accurate. This technical information has not been verified by Tower and may in some instances be unverifiable dependent on the existence of all historical drill core.
The technical content of this news release has been reviewed and approved by Kenneth Thorsen, BSc, P.Eng, a consultant of the company and qualified person for the purposes of National Instrument 43-101 – Standards of Disclosure for Mineral Properties of the Canadian Securities Administrators.
Tower Resources Ltd.
Mark Vanry – Director, CEO & President
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statement Caution
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.
SOURCE: Tower Resources Ltd
Posted: April 8th, 2014 under ACCESSWIRE.