Tower Receives Partial Assays for Rabbit North Drill Holes 50 to 54; Connects Lightning and Thunder Zones with High-Grade, 6.06 g/t Au Intersection over 4.27 m in Untested 450 m Gap between Zones

Rhea-AI Summary

Tower Resources (TSXV: TWR) has received partial assays for its initial 2024 drilling program on the Rabbit North property in the Kamloops mining district. The company reports positive gold results, particularly from Hole 051, which intersected 6.06 g/t Au over 4.27 m including 24.0 g/t over 0.7 m. This high-grade intersection connects the Lightning and Thunder Gold Zones, confirming continuity of mineralization along a previously untested 450 m gap.

The drilling campaign comprised five shallow holes, with complete assays received for Holes 51 and 54. Hole 054, drilled west of the Thunder North discovery hole, intersected mineralized ash tuff and quartz-feldspar porphyry dykes, extending the Au-fertile shear trend westward. Assays for Holes 050, 052, and 053 are pending. Tower is planning follow-up drilling to build on these results, focusing on the Thunder-Lightning and Thunder North gold trends.

Positive

• High-grade gold intersection of 6.06 g/t Au over 4.27 m in Hole 051, including 24.0 g/t over 0.7 m
• Confirmation of mineralization continuity between Lightning and Thunder Gold Zones
• Extension of Au-fertile shear trend westward in Hole 054
• Planning of follow-up drilling program based on positive results

Negative

• Partial assays received due to core saw issue, delaying complete results
• Hole 054 intersected only anomalous levels of gold despite favorable mineralization

Vancouver, British Columbia--(Newsfile Corp. - September 26, 2024) - Tower Resources Ltd. (TSXV: TWR) ("Tower" or the "Company") is pleased to report that it has received assays for two-thirds of the core samples from its initial 2024 drilling program on the Rabbit North property in the heart of the Kamloops mining district (see Fig. 1), and is readying a follow-up drilling program based on the positive Au results obtained.

Assayed Drill Holes

The initial drilling campaign comprised five shallow (-50°) drill holes, Nos. RN24-050 to 054 (see Fig. 2 and Table 1). Due to a core saw issue, only two-thirds of the core was cut and submitted for assay at the end of the drilling program and has now been analyzed.

Three of the five drill holes, Nos. 051, 053 and 054, targeted Au mineralization along the southern (Lightning-Thunder) and central (Thunder North) shear trends. Complete assays have been received for Holes 51 and 54.

Gold Highlights

Hole 051 was drilled roughly halfway along the previously untested 450 m gap in the southern shear trend between the Lightning and Thunder Gold Zones (see 3D gold model and hole location map below) to test for continuity of the gold mineralization between these zones. It succeeded not only in confirming continuity of the mineralization but also returned the highest average Au grade obtained to date from the Lightning-Thunder trend - 6.06 g/t over 4.27 m including 24.0 g/t over 0.7 m (see Table 1).

Block model of the shear-hosted Thunder, Thunder North and Lightning Au zones. The Au component of the Rainbow porphyry Cu-Au zone is included. Note the strategic location of the new, high-grade Hole 051 intersection midway between the Lightning and Thunder Gold Zones.

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Significant Au intercepts from Tower's drill holes in the Lightning-Thunder gold area. Note the strategic location of the new, high-grade Hole 051 intersection midway between the Lightning and Thunder Gold Zones.

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Hole 054 was drilled ~60 m west of and parallel to the Thunder North discovery hole, No. 039 (10.2 m of 1.46 g/t Au and 15.6 m of 2.41 g/t Au separated by a barren 4.5 m dyke) on the central trend (see Fig. 2). It intersected a similar thickness of favourably sheared and mineralized (pyritized) ash tuff and quartz-feldspar porphyry dykes. This mineralized section contained only anomalous levels of gold but was obtained at a shallower depth and confirms that the Au-fertile shear trend continues significantly westward into the magnetically active area that was previously thought to be prospective only for porphyry Cu-Au-Mo mineralization.

Pending Assays

The assays for Holes 050, 052 and 053 will be reported later. Hole 050 targeted a magnetic high north of the Rainbow porphyry Cu-Au-Mo Zone (see Fig. 2) which is hosted by magnetite-rich magmatic-hydrothermal breccia. No core was obtained from the upper part of the hole and the missing section was re-drilled as Hole 052. Complete assays have been received for the Hole 050 (lower) core but not for Hole 052 (upper) core. No assays are currently available for Hole 53 which targeted the eastern part of the auriferous central shear trend northeast of the Lightning Zone (see Target 1 of Fig. 2).

Follow-up Drilling Plans

Follow-up drilling will build systematically on the indicated continuity of the Thunder-Lightning and Thunder North gold trends using a mix of infill, stepout and steeper (i.e. deeper) holes.

Methods and Qualified Person

The drill core was logged at Tower's leased, fully equipped core facility near Kamloops by Matthew Husslage, P.Geo. and Sean Jubinville, G.I.T. Mr. Husslage has managed or co-managed all of Tower's Rabbit North diamond drilling programs since the discovery of the Lightning Zone in December 2021.

Split samples of the core, generally 1.0 or 1.5 m in length, were delivered directly to Activation Laboratories (ActLabs) in Kamloops, BC, a laboratory certified as ISO/IEC 17025 Accredited (Lab 790) by the Standards Council of Canada. QA/QC samples including blanks and standards were inserted regularly into the sample sequence at a ratio of approximately 1:20.

The samples were analyzed for Au by fire assay and ICP-OES and for Ag and 36 additional elements by ICP-OES using a four-acid, near-total digestion. Any over-limit (>5 g/t) Au analyses were repeated using the same fire assay procedure but with a gravimetric rather than ICP finish.

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
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 the Rabbit North property.

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Figure 2 - Locations of Holes 050 to 054 relative to the five targets of the 2024 drilling program.

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					Total Depth (m)		Mineralized Interval(s)			Average Au Grade (g/t)
Hole No.	Easting (m)	Northing (m)	Azimuth (°)	Dip (°)		Mineralized Zone(s)	From (m)	To (m)	Length (m)
RN21-026	663345	5607460	60	-60	197.0	Lightning	51.0	144.2	93.2	1.42
						Including	113.2	132.4	19.2	4.21
RN21-027	663339	5607455	300	-65	209.0	Undetermined	113.7	118.7	5.0	2.09
						Undetermined	140.9	150.6	9.7	1.32
RN22-028	663378	5607499	130	-80	293.0	Lightning	36.5	174.5	138.0	1.55
						Including	45.5	70.0	24.5	4.76
						Including	57.5	59.0	1.5	43.60
						Including	69.0	70.0	1.0	27.80
RN22-029	663414	5607464	310	-60	374.0	Lightning	18.5	89.0	70.5	1.78
						Including	62.0	75.5	13.5	4.92
						Including	66.5	68.0	1.5	20.50
RN22-030	663450	5607504	310	-70	236.0	Undetermined	47.0	52.0	5.0	0.99
						Lightning	130.0	137.0	7.0	1.35
						Lightning	146.0	156.5	10.5	3.40
RN22-031	663450	5607506	310	-45	230.0	Undetermined	158.0	164.0	6.0	1.94
						Lightning North	189.0	211.0	22.0	2.09
						Including	209.0	210.0	1.0	19.20
RN22-033	663481	5607558	310	-45	187.0	Lightning North	113.0	114.0	1.0	69.20
RN22-036	663326	5607534	80	-75	220.5	Undetermined	161.1	179.1	18.0	0.89
RN22-037	663353	5607580	250	-60	185.0	Undetermined	19.1	22.1	3.0	2.59
						Undetermined	110.4	136.0	25.6	0.66
RN22-038	663307	5607420	52	-60	291.0	Undetermined	60.0	69.9	9.9	0.85
						Lightning	136.0	184.0	48.0	1.57
						Including	141.0	142.9	1.9	22.50
RN23-039	662871	5607561	144	-45	356.0	Undetermined	142.7	145.7	3.0	4.20
						Thunder North	163.5	173.7	10.2	1.46
						Thunder North	177.2	192.8	15.6	2.41
						Including	191.0	191.8	0.8	25.40
RN23-040	662908	5607578	142	-45	263.0	Thunder North	188.7	196.3	7.7	1.42
RN23-041	662944	5607238	17	-46	303.5	Thunder	124.8	138.0	13.3	3.28
						Thunder	148.0	158.1	10.1	2.16
RN23-045	663388	5607461	359	-80	299.0	Lightning	52.0	144.0	92.0	1.13
						Including	124.0	144.0	20.0	2.13
RN24-051	663155	5607300	350	-50	281.0	Thunder-Lightning	244.23	248.5	4.27	6.06
						Including	247.8	248.5	0.7	24.00

 

 Table 1 - Significant gold intercepts of the shear-hosted type from the Thunder and Lightning trends. 
Gold-bearing intercepts of the porphyry Cu-Au type are excluded.  Gold values are uncut.  Samples
 with Au grades greater than 15 g/t are shown individually.  True widths have not been determined.

 

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FAQ

What was the highest gold grade intersected in Tower Resources' (TWRFF) recent Rabbit North drilling?

The highest gold grade intersected was 6.06 g/t Au over 4.27 m, including 24.0 g/t over 0.7 m, in Hole 051.

How did Tower Resources' (TWRFF) Hole 051 impact the understanding of the Lightning-Thunder trend?

Hole 051 confirmed the continuity of gold mineralization between the Lightning and Thunder Gold Zones, connecting them across a previously untested 450 m gap.

What are Tower Resources' (TWRFF) plans following the initial 2024 Rabbit North drilling results?

Tower Resources is planning a follow-up drilling program to build systematically on the indicated continuity of the Thunder-Lightning and Thunder North gold trends.

Why are some assay results from Tower Resources' (TWRFF) Rabbit North drilling still pending?

Due to a core saw issue, only two-thirds of the core was cut and submitted for assay at the end of the drilling program, resulting in partial results for some holes.