Tower Resources Acquires the More Creek Property, Golden Triangle District, Northwest British Columbia
Vancouver, B.C. / TheNewswire / August 16, 2016 - Tower Resources Ltd., (TSXV: TWR) announces it has acquired the More Creek property, by staking, within the world-class Golden Triangle district of northwest British Columbia. The 6,430 hectare More Creek property is located near the centre of the Golden Triangle and is considered prospective for epithermal gold and silver mineralization. The property is approximately 55 kilometers north of Pretium Resources' significant Brucejack development project which contains a Measured and Indicated mineral resource of 9.1 million ounces of gold at an average grade of 17.2 grams per tonne gold (source, Pretium's July 21st, 2016 Press Release).
More Creek is 120 kilometres north of Stewart, BC and benefits from close proximity to significant infrastructure such as the Northwest Transmission Line, a nearby fixed-wing aircraft runway and Highway 37, all of which are approximately 10 kilometers to the east.
Previous work at More Creek was focused on a prominent mountain and ridge top gossan known as the Sinter zone. Geological mapping and geochemical sampling (rock, soil, and stream silts) by Noranda and Corona in the early 1990s and reconnaissance mapping by Barrick Gold and Teck Resources in the 2000's at Sinter outlined an extensive zone, up to 2 kilometers long, of strong silicification, argillic alteration and hydrothermal brecciation associated with a regional fault cutting through Upper Triassic Stuhini Group volcanic and siliciclastic rocks. This zone is characterized by highly anomalous (in rocks, soils and silts) concentrations of epithermal-gold pathfinder elements. Furthermore, a creek draining the Sinter zone also contains highly anomalous concentrations of gold as noted by Noranda and Corona (BC Assessment Reports 19216 and 21311). Together, this historic data suggests the Sinter zone may represent the upper, barren zone of an epithermal gold system and gold mineralization should be targeted vertically below the outcropping alteration zone. This exploration model has not yet been tested by systematic diamond drilling.
Tower will continue with data compilation and will also conduct an initial property visit this fall.
The More Creek property is within the Golden Triangle mineral district of northwest British Columbia. This prolific mineral belt contains many significant development projects such as, Pretium Resources' Brucejack deposits, Seabridge Gold's KSM deposits, Teck Resources' and Nova Gold's Galore Creek deposits, Imperial Metals' Red Chris mine and Barrick Gold's past-producing Eskay Creek mine.
Some technical information contained in this release is historical in nature and has been compiled from sources believed to be accurate. This technical information has not been verified by Tower and may in some instances be unverifiable dependent on the existence of all historical grab and trench samples and drill core. Management also cautions that mineral resources on nearby properties are not necessarily indicative of the results that may be achieved on the subject property.
The technical content of this news release has been reviewed and approved by Christopher Leslie, M.Sc., P.Geo., Vice President, Exploration for the company and qualified person as defined by National Instrument 43-101.
About Tower Resources
Tower Resources Ltd. (TWR.V) is a Vancouver based junior mineral exploration company focused on the discovery and advancement of economic mineral projects, primarily in British Columbia. The company's key exploration assets are Rabbit North, Nechako Gold and More Creek.
Mark Vanry - Director, CEO & President
(604) 558-2565
mvanry@towerresources.ca
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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