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Tower Adopts Structural Model Connecting the Widespread Orogenic Gold Mineralization Intersected at Rabbit North and Prepares to Drill Systematically through 2024Orogenic Gold Model Tower's first discovery of gold mineralization of the shear-hosted, Cu-free orogenic type at Rabbit North, the Lightning Zone, and historical Au occurrences of the same type that 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 ENE trending fault (see Fig. 2) that is recognizable magnetically. The mineralized part of this fault in the stock appears to be <50 m 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. In Figure 2, the significant orogenic-type Au intercepts (i.e. those with no associated Cu) from both Tower's drill holes and the historical holes (see Table 1) are highlighted as g/t Au x metres dots, with a threshold of 10 g-m (equivalent to 1 g/t Au over 10 m or 10 g/t over 1 m). The distribution of these 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 dykes, and also — much later — the Chilcotin basalt magma which then flowed WSW 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 (see Fig. 2 inset), 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 (500-1000 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 Cu-Au-Mo 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, ~350 x 1200 m area (see Fig. 3), 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, P.Geo., 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, all in B.C., 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' Blackwater project and the More Creek epithermal gold project on the critical "red line" structural zone connecting the mineral deposits of the Golden Triangle. On behalf of the Board of Directors Joe Dhami, President and CEO Reader Advisory 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.
To view an enhanced version of this graphic, please visit:
Table 1 — Significant (>10 g-m) Au intercepts, of the Cu-free orogenic type in grams x metres, from Tower's and five historical drill holes. Where two or more gold zones were intersected in a hole, their values were summed. To view the source version of this press release, please visit https://www.newsfilecorp.com/release/206789
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