Tower Resources Completes Rabbit North Drilling Program, Repeatedly Hits Mineralization Resembling Hole 26 Gold Zone and Intersects Possible Footwall Zone

2022-05-03 06:29:12

Vancouver, British Columbia–(Newsfile Corp. – May 3, 2022) – Tower Resources Ltd. (TSXV: TWR) (“Tower” or the “Company“) is pleased to report that it has completed its preliminary follow-up diamond drilling program on the newly discovered Hole 26 gold zone 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). Tower has also officially named the gold discovery the Lightning Zone in recognition of the speed with which it was struck, just six months after the initial till heavy mineral survey that identified the Dominic Lake gold grain dispersal train (see Fig. 2).

Six holes Nos. RN22-028 to 033, totaling 2398 m were drilled (see Figs. 2, 3), adding to the four inaugural holes drilled in December 2021, Nos. 024 to 027. The new holes were positioned to confirm the apparent 040° strike and determine the dip of the substantial mineralized zone indicated by the impressive 1.40 g/t Au intercept over 95 m, including 19.2 m of 4.21 g/t Au, in discovery Hole RN21-026 in December, 2021 (see Tower’s January 11, 2022 press release), and test the first 100-150 m of the presumed northeastern strike extension of the zone.

Holes 028 and 029 were sited 50 m northeast of Hole 026 and drilled in scissors fashion toward the Lightning Zone (Fig. 3). Their intersections appeared to confirm the apparent northeast strike of the zone and determined that its dip is steep, probably to the south. Therefore the remaining holes were drilled to the northwest at dips of either 45 or 60°.

Holes 030 and 031 were drilled 100 m northeast along strike from Hole 026, Hole 033 was drilled 150 m northeast and Hole 032 was drilled under the common collars of Holes 026 and 027. All holes appear to have intersected the Lightning Zone based on intense fracturing with visible bleaching, silicification and pyritization similar to that associated with the zone in Hole 026.

The apparent widths of the intersections are up to several tens of metres, the 95 m intersection in Hole 026 being longer because the hole was drilled more obliquely to the gold zone. The host rocks are andesitic crystal-ash, lapilli and block tuffs, with the finer tuffs appearing to be the most permissive hosts.

The visually most impressive – and interestingly also the deepest – intersection is in Hole 030 where silicification is most advanced, resulting in intense quartz veining with abundant pyrite and, locally, significant chalcopyrite (see Fig. 4). The intercept from Hole 33 is more typical, showing the characteristic fractured, broken core, bleaching and silica flooding with relatively little pyrite (see Fig. 5).

Those holes that were extended well beyond the Lightning Zone, such as Nos. 029 and 031, appear to have intersected a second mineralized zone ~100 m further down-hole. The host tuff in this “footwall” zone is similarly fractured and silicified but contains little pyrite. However, pyrite abundance is not a reliable indicator of Au grade here because the high-grade (12.4 g/t), 10 m intersection in historical Hole 97-07, 400 m along strike to the northeast (see Figs. 2, 3), contained only 1 to 2% pyrite. As well, a vertical percussion hole drilled in 1990 one km further northeast, No. 90-5 (see Fig. 2) returned 1.75 g/t Au from a composite 40 m sample that also contained only 1 to 2% pyrite.

Holes 030 and 033 intersected a dyke of quartz-feldspar porphyry that is very siliceous and as fractured and pyritized as the intruded tuffs (see Fig. 6), suggesting that the gold mineralization is related to intrusion of the porphyry. Intriguingly, a similar porphyry dyke is present beside the high-grade gold zone in Hole 97-07 to the northeast.

All core from the new holes, along with the previously uncut core sections from December holes RN21-024 to 027, has been submitted for analysis. The analyses for Holes 024 to 027 are now being received while those for Holes 028 to 033 are expected near the end of May.

The Au results from the two drilling programs will be released separately after they have been received and evaluated. Drilling is expected to resume in mid-June.

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

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Junior Mining NetworkFigure 1 – Location of Tower’s Rabbit North property relative to the active mines of the Kamloops district.

Junior Mining NetworkFigure 2 – Location of the drill area relative to the Dominic Lake gold grain dispersal train, Tower’s December 2021 drill holes and historical holes with significant Au intercepts.

Junior Mining NetworkFigure 3 – Drill hole locations. See Figure 2 for legend.

Junior Mining NetworkFigure 4a – Part of the strongly quartz-veined section of the Lightning Zone in Hole 030.

Junior Mining NetworkFigure 4b – Detail of part of Figure 4a.

Junior Mining NetworkFigure 5 -Strongly fractured/altered and weakly pyritized andesitic tuff producing badly broken core typical of the Lightning Zone. Hole 33.

Junior Mining NetworkFigure 6 – Fractured and altered quartz-feldspar porphyry from Hole 30.

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