- Tower (TWR) has discovered a new, coarser grained, higher grade gold dispersal train that emanates from the Lightning Zone
- The discovery was made during the recent step-out diamond drilling program on the company’s Rabbit North property near Kamloops, British Columbia
- The Au grades for the heavy mineral fraction on the Central Train are much higher at 3.90 and 21.67 g/t, implying a higher source grade
- Tower (TWR) is up by 2.17 per cent trading at $0.23 per share as of 1:45 pm ET
Tower (TWR) has discovered a new, coarser grained, higher grade gold dispersal train that emanates from the Lightning Zone.
The discovery was made during the recent step-out diamond drilling program on the company’s Rabbit North property near Kamloops, British Columbia, between New Gold’s (TSX:NGD) New Afton underground Cu-Au mine and Teck’s (TSX:TECK) Highland Valley open pit Cu-Mo mine.
The recent step-out diamond drilling program on the Lightning Zone ended with a fifth hole, No. 038, being drilled to undercut the long gold intercept of Discovery Hole 026 (95 metres of 1.40 g/t Au including 19.2 metres of 4.42 g/t Au). The five completed holes totalled 975 metres. Two more step-out holes had been planned further along strike.
The average normalized Au grade of the heavy mineral fraction of the 22 follow-up till samples collected from the Dominic Lake Train was 1.54 g/t, closely matching the grades of the first three drill intersections of the Lightning Zone of 1.40 g/t over 95 metres in Hole 026, 1.55 g/t over 138 metres in Hole 028 and 1.78 g/t over 70.5 metres in Hole 02.
The new dispersal train has been named the Central Train because it lies midway between the Dominic Lake and Durand Creek Trains.
The Au grades for the heavy mineral fraction of the till in Samples 245 and 246 on the Central Train are much higher at 3.90 and 21.67 g/t, implying a higher source grade. The coarseness of the gold grains is responsible for the higher Au grades and suggests that the gold mineralization may have a significant vein component.
Tower’s President, Joe Dhami, explained that this development is the significance of this new, gold-rich Central Train and Durand Creek Train show that the team has found a large gold system at Rabbit North and the Lightning Zone is not a one-off discovery.
“We are very excited about both the grade potential of the indicated new gold zone and its great location just 400 metres from our Lightning Zone.”
The Rabbit North property is near Kamloops, British Columbia, between the New Afton underground Cu-Au mine under New Gold Inc. and the Highland Valley open pit Cu-Mo mine under Teck Resources Ltd. (TSX:TECK).
Tower Resources Ltd. (TWR) is focused on the discovery and advancement of mineral projects in the Americas.
Tower (TWR) is up by 2.17 per cent, trading at $0.23 per share as of 1:45 pm ET.
