Tower Commences Ground Magnetic Survey to Guide Diamond Drilling on the New Rainbow Porphyry Cu-Au-Mo and Thunder Orogenic Au Zones and Identify Similar Targets for Future Testing
Vancouver, British Columbia--(Newsfile Corp. - May 31, 2023) - Tower Resources Ltd. (TSXV: TWR) ("Tower" or the "Company") is pleased to announce the commencement of a focused ground magnetic survey on the Company's Rabbit North property near Kamloops, British Columbia, between New Gold's New Afton underground Cu-Au mine and Teck's Highland Valley open pit Cu-Mo mine (see Fig. 1).
Purpose of the Ground Magnetic Survey
The three significant discoveries - Rainbow (porphyry Cu-Au-Mo), Lightning and Thunder (orogenic Au) -that Tower made in rapid succession within 15 months beneath glacial till and/or basalt cover on the Rabbit North property are all on the southern edge of the only existing ground magnetic survey, making this old survey of little value to the Company's current exploration planning. In addition, the old north-south survey lines are not oriented squarely to the main south-southeast structural trend.
Area Covered by the Survey
The new survey, totaling ~112 line-km, will comprise 32 east-northeast trending lines 100 m apart and ~3.5 km long, extending from the volcaniclastic terrain west of Durand Creek to the mid-point of the Durand Stock east of the creek (see Fig.2).
Having good magnetic coverage in the area of the new Rainbow and Thunder Zones has become essential due to their side-by-side positions and complex magnetic interplay resulting from (a) the primary (pre-mineralization) magnetite content of the volcaniclastic host rocks being variable (absent to significant); (b) the subsequent addition to the Rainbow Zone of significant hydrothermal magnetite; (c) the opposite, magnetite destructive hydrothermal alteration of the Thunder Zone; and (d) the basalt that covers the Rainbow Zone and part of the Thunder Zone producing an overriding magnetic low despite being strongly magnetic because a magnetic pole reversal occurred during its eruption.
Knowing the above magnetic influences in advance of the magnetic survey should result in a much more informed interpretation of the magnetic data - one that should help in positioning and aiming the next round of drill holes more effectively to intersect and expand the Rainbow and Thunder Zones.
The magnetic survey will also cover the head of the presently untested Durand Creek gold grain dispersal train 1 km to the north on the west side of the Creek. The overall distribution of the gold grains within this train suggests another Rainbow-type porphyry source rather than a Thunder or Lightning-type orogenic Au source.
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, both 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 and the Nechako gold-silver project near Artemis' Blackwater project.
On behalf of the Board of Directors
Tower Resources Ltd.
Joe Dhami, President and CEO
(778) 996-4730
www.towerresources.ca
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.
Figure 1 - Location of Tower's Rabbit North property relative to the active mines of the Kamloops district.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5023/168099_986267a7b4adc990_002full.jpg
Figure 2 - Area being covered by the ground magnetic survey.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5023/168099_986267a7b4adc990_003full.jpg
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/168099
