- Tower (TWR) has struck gold during its Rabbit North drilling program in B.C.
- All holes appear to have intersected the new mineralization
- Holes that were extended well beyond the Lightning Zone, such as 029 and 031, appear to have intersected a second mineralized zone
- The company has submitted core samples for analysis
- It expects to resume drilling in mid-June
- Tower Resources is focused on the discovery and advancement of mineral projects in the Americas
- Tower (TWR) is up by 23.53 per cent trading at $0.315 per share
Tower (TWR) has struck gold during its Rabbit North drilling program in B.C.
The results stem from six drill holes on Rabbit North’s Hole 26 Gold Zone, which was highlighted by Hole RN21-026’s intercept of 1.40 g/t gold over 95 m from December 2021.
All holes appear to have intersected the new mineralization, known as the Lightning Zone, based on intense fracturing with visible bleaching, silicification and pyritization similar to that associated with Hole 026.
The host rocks are andesitic crystal-ash, lapilli and block tuffs, with the finer tuffs appearing to be the most permissive hosts.
Holes that were extended well beyond the Lightning Zone, such as 029 and 031, appear to have intersected a second mineralized zone ~100 m further downhole.
The deepest intersection is in Hole 030, where silicification is most advanced, resulting in intense quartz veining with abundant pyrite and, locally, significant chalcopyrite.
Holes 030 and 033 intersected a dyke of quartz-feldspar porphyry that is very siliceous and as fractured and pyritized as the intruded tuffs, suggesting that the gold mineralization is related to porphyry intrusion. A similar porphyry dyke is present beside the high-grade gold zone in Hole 97-07 to the northeast.
The company will release core analyses once finalized.
It expects to resume drilling in mid-June.
Tower Resources is focused on the discovery and advancement of mineral projects in the Americas.
Tower (TWR) is up by 23.53 per cent trading at $0.315 per share as of 10:51 am EST.
