Tower Reports Results from Geophysical Surveys at Rabbit North
28 January 2014 - 1:30AM
Access Wire
Vancouver, B.C. - Tower Resources
Ltd., (TSX.V: TWR) reports results from two geophysical surveys
completed at the company's Rabbit North copper (Cu) and gold (Au)
property in the Kamloops Mining District of south-central British
Columbia. The purpose of both surveys was to refine drill targets
in areas of known mineralization and to identify new targets in
areas with overburden cover. The surveys consisted of a 50 line
kilometer Induced Polarization (IP) survey over the core of the
Rabbit North property and a 2,900 line kilometer high resolution
helicopter magnetic survey over the recently expanded claim package
(see Tower's January 23rd, 2014 Press
Release).
Mark Vanry, Tower's president
and CEO, comments: "We are very encouraged by the data from both
geophysical surveys, as robust geophysical data is critical for
target evaluation in alkalic porphyry systems. Not only have we
added great value to areas with known porphyry related copper and
gold mineralization, we have also identified new targets in areas
with little historic exploration."
Alkalic porphyry related
mineralization and alteration at the Rabbit North property is
documented in two host rock types: the three by two kilometer Late
Triassic to Early Jurassic zoned alkaline intrusion termed the
Durand Stock, and the intrusion's volcanic country rocks assigned
to the Upper Triassic Nicola Group.
Induced
Polarization Geophysical Survey
The IP survey covered a grid
centered on the Durand Stock with a footprint of approximately 2.8
by 3.6 kilometers with lines oriented northerly spaced 200 metres
apart. A pole-dipole array was used with readings taken every 100
meters measuring 1 to 10 separations. This setup allowed for a
maximum depth of investigation of approximately 400 metres below
surface. The goal of the survey was to establish a geophysical
baseline for chargeability and resistivity response associated with
known porphyry related copper and gold mineralization and
alteration. Furthermore, the survey was also designed to
investigate areas peripheral to and deeper than the known areas of
mineralization. The survey was carried out by Scott Geophysics Ltd.
of Vancouver from October 16th to
November 10th, 2013.
The IP survey identified
numerous significant high chargeability anomalies (indicative of
increased sulphide concentrations) which are also in-part
coincident with strong magnetic anomalies outlined by an earlier
ground magnetic survey and expanded by the helicopter-borne
magnetic survey (see below). For example, the inverted
chargeability 200 meter depth plan outlines a +12.5 mV/V (millivolt
per volt) anomaly with a strike length of at least 1.9 kilometers
and a width of at least 1.4 kilometers. This anomaly is open to the
east and to the south where chargeability readings in the core of
the anomaly reach +60 mV/V. Previously within this large anomaly, a
small area of approximately 190 by 175 meters (the Chrysacolla
Zone) was tested with diamond drill holes (see Tower's October
22nd, 2013 Press Release). The
Chrysocolla Zone is associated with the western extent of the
anomaly. Also on the inverted chargeability 200 meter depth plan,
the northern extent of the Western Magnetite Zone is associated
with a +12.5 mV/V anomaly which appears to extend 2.4 kilometers to
the northeast producing an arcuate shaped high chargeability
anomaly. Bedrock associated with this anomaly has been poorly
tested.
Helicopter Magnetic Survey
The helicopter magnetic
survey was flown on easterly oriented lines at 100 meter separation
covering a survey block with dimensions of approximately 29 by 11
kilometers. In total, 2,900 line kilometers of data was collected
between December 4th and December
9th, 2013 by Precision
GeoSurveys Inc of Vancouver. The purpose of the survey was to
provide high resolution magnetic data to assist in the
interpretation of the property geology and to help define drill
targets in areas proximal to the Durand Stock. The Durand Stock
comprises an oval shaped magnetic high rim measuring 2.7 by 2.2
kilometers, with a magnetic low core. Magnetic highs proximal to
the stock are also observed where magnetite alteration is
documented in Nicola Group volcanic rocks. Magnetic highs of
similar magnitude have been identified in areas with limited
historic exploration proximal to the Durand Stock. These anomalies
are considered significant targets for follow-up. Furthermore, the
survey effectively identified new magnetic highs, lineaments and
breaks which may represent possible intrusions and structures in
unexplored areas where publically available, low resolution
magnetic data exhibits coarse featureless anomalies.
Rabbit
North
The road-accessible Rabbit
North property consists of 34 mineral tenures covering 16,400
hectares, which are inpart abutting New Gold Inc's tenures covering
the New Afton mine. The New Afton mine, with Proven and Probable
Reserves of 52.5 million tonnes at 0.93% Cu, 0.65 grams per tonne
(g/t) Au, 2.3 g/t silver, (New Gold Inc. website) is approximately
14.5 kilometers east of the main Rabbit North target. Rabbit North
is also 28 kilometers east-northeast of the producing Highland
Valley copper mine operated by Teck Resources Limited with Proven
and Probable Reserves of 697.4 million tonnes at 0.294% (Teck
Resources Limited website), Canada's largest copper producer. The
core 2,850 hectares of mineral tenures comprising Rabbit North are
under an option agreement (see Tower's July
18th 2013 Press Release).
Copper mineralization within
the porphyritic monzonite core of the Durand stock is characterized
by disseminated and blebby chalcopyrite (i.e., Central Monzonite
zone) whereas mineralization hosted in the Nicola volcanics is
dominantly characterized by disseminated and blebby chalcopyrite
and pyrite (+/- bornite) associated with varying degrees of albite,
biotite, epidote and magnetite alteration (i.e., Chrysocolla and
Western Magnetite zones).
Please refer to Tower's
website for accompanying maps and updated corporate presentation
(www.towerresources.ca)
The technical content of this news
release has been reviewed and approved by Kenneth Thorsen, BSc,
P.Eng, a consultant of the company and qualified person for the
purposes of National Instrument 43-101 -- Standards of Disclosure
for Mineral Properties of the Canadian Securities
Administrators.
Tower Resources
Ltd.
Mark Vanry - Director,
CEO & President
(604) 558-2565
mvanry@towerresources.ca
http://www.towerresources.ca/
Neither the TSX Venture Exchange nor the Investment Industry
Regulatory Organization of Canada accepts responsibility for the
adequacy or accuracy of this release.
Forward-Looking
Statement Caution
This news release contains certain
"forward-looking statements", as defined in the United States
Private Securities Litigation Reform Act of 1995, and within the
meaning of Canadian securities legislation. The Company cautions
that forward-looking statements are based on the beliefs, estimates
and opinions of the Company's management on the date the statements are
made and they involve a number of risks and uncertainties.
Consequently, there can be no assurances that such statements will
prove to be accurate and actual results and future events could
differ materially from those anticipated in such statements. The
Company undertakes no obligation to update these forward-looking
statements if management's beliefs, estimates or opinions, or other
factors, should change, except as required by law. There are
numerous risks and uncertainties that could cause actual results
and Tower's plans and objectives to differ materially from those
expressed in the forward-looking information. The reader is urged
to refer to the Company's public disclosure which is available
through the Canadian Securities Administrators' System for
Electronic Document Analysis and Retrieval (SEDAR) at
www.sedar.com for a more complete discussion of such risk
factors and their potential effects.
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