Gold Miner Tower Resources Announces Final Assays From Winter Program, Prepares Next Targets

Tower Resources Ltd TWRFF announced on Wednesday the assays of the three remaining drill holes from its winter diamond drilling program, with its last hole (045) intersecting 92 meters that graded 1.13 grams per ton (g/t) of gold (Au).

The last hole was drilled at the Lightning zone, where the company made its initial gold discovery with hole 026, which was announced on Jan. 11, 2022.

While Tower attempted to drill straight into the known gold zone, the drill hit the footwall on the south side of the zone at some intervals, which diluted the result of the mineralized section. But at the bottom of the 92-meter section, Tower encountered a 20-meter interval that averaged 2.13 g/t Au.

The result suggests that if the drill hadn’t hit the footwall in some sections, the total amount of gold within the 92 meters would have graded higher than 1.13 g/t of Au.

What’s More: Deeper downhole, Tower intersected a 4.5-meter mineralized section that averaged 4.23 g/t Au and at the bottom of the hole, the company intersected copper/gold mineralization that averaged 0.22% Cu and 1.20 g/t Au.

Importantly, the Lightning zone is near the surface, occurring beneath 30-50 m of saprolite.

“The grade and depth of hole 45 is consistent with holes 26, 28 and 29 and adds to the open pit potential of the Lightning zone,” Tower CEO Joe Dhami told Benzinga.

Previous to Wednesday’s news, Tower announced on April 20 that hole 042 hit 72.4 meters (237.5 feet) of porphyry copper (Cu), gold (Au) and molybdenum (Mo) mineralization, averaging 0.57% copper-equivalent within its new Rainbow discovery zone, its third discovery zone on its Rabbit North property in Kamloops B.C.

On March 30, Tower discovered its second gold discovery zone, which it named Thunder.

Two exploration holes (043 and 044), which the company drilled on the Dominic Lake gold grain dispersal, did not show notable mineralization, which has helped Tower to further understand the likely location of the main source of mineralization.

What’s Next: Tower is awaiting permits for a series of drill pads to start delineating the Thunder and Rainbow zones. The company is also planning to complete a magnetic survey west of the Durand stock. 

Tower’s Rabbit North property is positioned between New Gold, Inc’s New Afton copper and gold mine and Teck Resources, Ltd.’s Highland Valley copper and molybdenum mine.

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