Announcement Date: 2022-01-11
Announcement Type: Drilling Results
Announcement Code: NI43-101
Company name: Tower Resources Ltd.
Project name: Rabbit North
Location: Canada
Commodities: Gold
Highlight: Drilling results incl. 95.0m @ 1.4g/t Au
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: Vancouver, B.C. – January 11, 2021 – Tower Resources Ltd. (“Tower” or the “Company”) (TSXV: TWR) is pleased to report that its December, 2021, diamond drilling program at the head of the recently identified gold grain dispersal train on the Company’s Rabbit North property (Fig. 1; see Tower’s August 10, November 12 and December 2, 2021 press releases at www.towerresources.ca) has discovered a new gold zone with an impressive initial intercept in Hole RN21-026 of 95.0 m of 1.40 g/t Au, including 19.2 m of 4.21 g/t Au (Table 1). Rabbit North is strategically located between the two producing porphyry deposits of the Kamloops mining district, New Gold’s New Afton underground Cu-Au mine to the east and Teck’s Highland Valley open pit Cu-Mo mine to the west (Fig. 2). Tower’s new discovery demonstrates that the district is prospective for major Au deposits as well Cu-Au deposits. Significantly, the new “Golden Zone” lies just 1 km southeast of the Western Magnetite Zone (Fig. 1) where Tower previously intersected 247 m of 0.51% Cu and 0.34 g/t Au (see Tower’s July 11, 2017, press release at www.towerresources.ca). Joe Dhami, President of Tower Resources, commented “The Golden Zone’s width and grade rival some of the best known discoveries in central BC and marks a transformative change to our company. Adding a new Gold discovery to our known copper values highlights the unlimited potential of this underexplored property.”
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