Creating Shareholder Value Through Strategic Exploration - - PowerPoint PPT Presentation
Creating Shareholder Value Through Strategic Exploration - - PowerPoint PPT Presentation
Creating Shareholder Value Through Strategic Exploration www.towerresources.ca TSX-V: TWR February 2017 Forward Looking Statements Limitation statements based on current expectations involving a number of risks and uncertainties and are not
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Forward Looking Statements
Limitation statements based on current expectations involving a number of risks and uncertainties and are not guarantees of future performance of the Corporation. These risks and uncertainties could cause actual results and the corporation's plans and objectives to differ materially from those expressed in the forward-looking
- information. Actual results and future events could differ materially from anticipated in such information. These
and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and expressly qualified in their entirety by this notice. The Corporation assumes no obligation to update forward looking information should circumstances or management's estimates or
- pinions change. Some of the technical information contained in this presentation is historical in nature and has
been compiled from sources believed to be accurate. The technical information has not been verified by Tower and may in some instances be unverifiable dependent on the existence of historical drill core, trench and grab
- samples. Management also cautions that mineral resources on nearby properties are not necessarily indicative of
the results that may be achieved on the subject property. CAUTIONARY NOTE TO U.S. INVESTORS Tower’s properties do not contain reserves in accordance with the definitions adopted by the United States Securities and Exchange Commission ("SEC") and there is no assurance that any explorations activities or feasibility studies carried out by Tower will establish reserves. Tower Resources reports mineral resource estimates in accordance with Canadian National Instrument 43-101. Resource estimates under Canadian National Instrument 43-101 are classified as "measured resources", "indicated resources" and "inferred resources”. Tower advises U.S. investors that while these terms are recognized and required by Canadian securities regulations, the SEC does not recognize these terms. Investors are cautioned not to assume that any part or all of mineral deposits classified as "measured resources" or "inferred resources" will ever be converted into reserves. Further, "inferred resources" have a great amount of uncertainty as to their existence, and economic and legal feasibility. It cannot be assumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category. Under Canadian rules, estimated of inferred mineral resources may not form the basis of feasibility or pre-feasibility studies, except in rare cases. Investors are cautioned not to assume that part
- r all of any inferred resource exists, or is economically or legally mineable.
The Qualified Person (QP) for the Company is Nils Peterson, M.Sc., P.Geo.
Corporate Highlights
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- Tower’s corporate goal is to be an industry leading mine finder by way of
systematic and strategic exploration.
- Tower’s corporate mandate is to strategically advance its projects while being
cognizant of market conditions and shareholder concerns.
- Tower is exploring in a safe, stable and mining friendly jurisdiction of British
Columbia.
- Tower is committed to meaningful and productive early First Nations engagement.
- Tower has an outstanding technical team with proven track record of significant
resource discovery.
- Tower’s current diversified project portfolio consists of three gold and copper
- projects. All projects are near significant infrastructure.
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Mark Vanry, MBA – President, CEO, Director Steve Vanry, CFA – CFO, Corporate Secretary, Director Nils Peterson, MSc, PGeo – Chief Geologist Christopher Leslie, MSc, PGeo – Senior Technical Advisor Stu Averill, BSc, PGeo – Director Richard Wyman, BSc, MBA – Independent Director Gerald Shields, LL.B. – Director Ken Thorsen, BSc, P.Eng – Technical Advisor
Issued and outstanding: 65,533,308 Warrants outstanding: 15,000,000 Options outstanding: 5,000,000 Fully diluted: 85,533,308 Insider Ownership: ~30% Cash: $600k
Management and Capital Structure
Tower’s Advantage
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Relative Value 10 – 20 years
Exploration Discovery Feasibility Construction Start Up Prod.
Tower can shorten the discovery window due to a primary focus on BC:
- Safe, stable jurisdiction with new mine development (e.g., New Afton, Mt. Milligan, Red Chris).
- Up to 30% government refund on qualifying expenditures.
- Low cost of power with good infrastructure throughout province.
- World class deposits with high grade potential at depth (e.g., KSM, Red Chris, New Afton).
Tower Exploration to Mining Investment Curve
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- Rabbit North: Cu - Au porphyry
project southwest of Kamloops, BC
- Nechako Gold: Au, Ag and Cu
project - Epithermal and porphyry targets south of Vanderhoof, BC
- More Creek: Au epithermal project
north
- f Stewart, BC – Golden
Triangle
BC Project Portfolio
Diversified portfolio with focus on Gold and Copper in a safe and stable mining jurisdiction.
Rabbit North Nechako Gold
Brucejack KSM Galore Creek Schaft Creek GJ Red Chris Woodjam Gibraltar
- Mt. Milligan
Kwanika Shasta Afton/Ajax Highland Valley Brenda Copper Mtn Huckleberry Capoose Blackwater Prosperity Bell Endako Kemess North Lorraine Kemess South
More Creek
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Prolific Mining District: Centered on Rabbit North
Rabbit North
New Afton
Looking southwest from Rabbit North towards Highland Valley Mine
Highland Valley Mine
Looking southwest from edge of Afton pit towards Rabbit North
- Road accessible 16,400 hectare copper and gold porphyry project optioned by Tower in July 2013.
- Located in the Triassic-Jurassic island arc related Quesnel Terrane; a significant and economically proven porphyry
belt in British Columbia.
- 14km southwest of the New Afton mine (New Gold) and 28km northeast of the Highland Valley mine (Teck).
- Excellent access to power, infrastructure, and experienced workforce based in Kamloops, 27km east of project.
- Documented porphyry related alteration and mineralization covering an area of approximately 4 by 4 kilometers
with 9 poorly tested targets that remain open in all directions.
Teck Resources New Gold Inc KGHM International
Tower The Rabbit North Project is a large and under-explored porphyry copper-gold project located in a prolific porphyry belt of south-central BC
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Rabbit North Regional Targeting
Guichon Creek Batholith Iron Mask Batholith
Regional magnetics
Regional Geology
Upper Triassic - Nicola Gp. L.Tri to E.Jur – Guichon and Iron Mask Intrusions (and equiv) Eocene – Kamloops Gp Regional Fault Significant Projects
25 km
Regional geology
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Rabbit North Geology and Geophysics
- Alkalic porphyry related copper and gold mineralization is hosted in three rock types: a zoned (diorite to syenite)
and nested alkaline intrusion termed the Durand Stock, coeval microdiorite/microdiorite breccia, and country volcanic rocks of the Nicola Group.
- Magnetics are difficult to interpret due to the presence of magmatic and hydrothermal magnetite.
Geology
Diorite (215Ma) Monzonite (200Ma) microdiorite volcanics basalt breccia
Magnetics and IP
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Rabbit North Targets
Chrysocolla Central Monzonite Main Western Magnetite Central Monzonite South Kwil KV Buff Chrysocolla East Dominic
Magnetics and IP Chargeability Contours
Diamond Drilling (1975, 1997, 2004) 30 DDH totalling 3,691 meters Percussion Drilling (1970, 1972, 1980, 1990, 1994) 51 PC totalling 4,206 meters
Historic Drilling
- Three
targets explored historically by shallow percussion drilling by Cominco in the 1970s and shallow diamond drilling in 1997 and 2004 by junior mining companies.
- Most holes were spotted by
the same two geologists
- 2014 new targets discovered
Mineralized targets form a 3.9 km strike
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Rabbit North 2016 Drill Program
- Eleven diamond drill holes in
2016, totaling 3400m
- RN-008 intersected 200m of
0.30% copper, 0.15g/t gold, consistent with copper grades at
- perating mines in the region
- Highland Valley Mine: feed
grade for the first nine months
- f 2016 averaged 0.31% copper
(TECK 2016 3rd quarter results)
- Copper Mountain Mine: copper
grade averaged 0.33% over first nine months of 2016 (CMMC 2016 3rd quarter results)
- Blind target (glacial till cover);
- pen in several directions
- Margin of intrusion appears to
be control to mineralization (e.g. Copper Mountain); large area
- pen for discovery
- Two historic surface showings
remained undrilled in 2016; three surface showings discovered by Tower remain undrilled ever Chrysocolla Central Monzonite Main Kwil KV Buff
OPEN OPEN OPEN
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RN-008, -010, -011
- Alkalic copper and gold mineralization hosted in Nicola Group volcanic rocks
- Strong sodic-calcic alteration, minor K-feldspar alteration
- Abundant fine sulfide veinlets, sulfide replacement of mafics and magnetite
- Best mineralization is related to magnetite destructive alteration; change in
targeting methodology RN-008 at 208.8m; 0.77% Cu, 0.63g/t Au (2m sample) Albite + biotite alteration, ccp and py replacement of mafic sites and magnetite
ccp + py
Mineralization
RN-011 at 284.3m RN-008 at 122.3m; 0.81% Cu, 0.58g/t Au (2m sample) RN-011 at 270.2m; 0.48% Cu, 0.28g/t Au (2m sample) RN-011 at 282.3m
Breccias
ccp + py +/- bn
Weaker albite alteration; Nicola volcanic host
ccp + py
Pseudobreccia textures Mineralized breccia matrix (ccp + mag + chl) Mineralized clasts with early mag veinlets, ccp
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Rabbit North Targets
DDH 97-17: 33m of 0.76g/t Au and 0.27% Cu DDH 97-07: 10m of 12.3g/t Au DDH 04-07: 86m of 0.17g/t Au and 0.18% Cu Chrysocolla East 1.87/t Au, 1.6% Cu and 0.07g/t Pd Chrysocolla Trench: 3m of 1.5g/t Au and 0.85% Cu
Target ~530 x 160 m
Chargeability Anomaly
- Alkalic copper and gold porphyry target. Mineralization open in most
directions.
- Strong albite alteration after magnetite + epidote (?) locally observed
associated with highest Cu grades (chalcopyrite +/- bornite).
- Local overprinting quartz + pyrite structurally controlled veins and breccias
enriched in gold (e.g., DDH 97-07). Focus of historic exploration in target area. 0.46 g/t Au, 0.5% Cu
CPY
DDH 97 – 18 @ 198m 1.72g/t Au, 2.4% Cu, 4.6g/t Ag (grab) DDH 97-08: 31m of 0.1g/t Au, 0.25% Cu Bottomed in grade, only DDH to test the monzonite core 0.73g/t Au, 0.62% Cu, 4.3g/t Ag (grab)
CMZ South ~530 x 160 m
- Alkalic copper and gold porphyry target hosted in the core of the Durand
- stock. Poorly tested historically yet comprises highest grade Cu and Au on
- surface. One diamond drill hole (DDH97-08) tested the monzonite and
bottomed in grade.
- Cu and Au is dominantly hosted near the contact with diorite in monzonite.
Mineralization is characterized by disseminated and clotted chalcopyrite +/- bornite associated with varying degrees of epidote + carbonate + sericite alteration.
Chrysocolla Targets Central Monzonite Targets
0.43g/t Au, 1.02% Cu, 7.4g/t Ag (grab) 0.52g/t Au, 0.96% Cu, 6.5g/t Ag (grab)
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Rabbit North Targets
- Alkalic copper and gold porphyry targets hosted in microdiorite and breccias
composed of microdiorite and plagioclase porphyry clasts.
- Strong, pervasive and locally clotted magnetite + epidote alteration with local
potassium feldspar + albite + magnetite veins. Clotted chalcopyrite with local vein controlled chalcopyrite and bornite
- Have not been drill tested. Considered priority targets for Phase 1 drill testing
0.98g/t Au, 0.54% Cu, 0.13g/t Pd (grab)
KV Target ~460 x 400 m Kwil Target ~230 x 110 m
6.23 g/t Au. 0.79% Cu (grab) 1.9 g/t Au, 0.49% Cu (grab) 0.42 g/t Au, 0.23% Cu (grab)
Central Monzonite
KV and Kwil Targets
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Rabbit North Regional Exploration
- Fall 2013, Tower flew a 2888 line kilometer helicopter-borne
magnetic geophysical survey over complete land package.
- Summer 2014, Tower conducted a regional reconnaissance-level
geological mapping and sampling program. Designed to ground-truth magnetic anomalies and refine geological targets identified on 1:250k scale regional geological maps
- Two porphyry targets were discovered, Dairy and Beaton, located
~3.5km north of the Durand Stock. Characterized by widespread and locally pervasive QSP altered diorite and diorite breccias. Copper is locally anomalous. Both targets are interpreted to represent phyllic halos to a deeper porphyry system. Link to Durand Stock? Dairy: Sericite + pyrite altered diorite breccia with trace chalcopyrite
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2017 Exploration Plans
2017 Plans
- Further diamond drilling of
Western Magnetite, Chrysocolla zone, prospective margins of intrusion
- Integrated geochemical
survey over Durand Stock area
- Prospecting in areas similar
geologically to RN-008
- Detailed follow-up of Beaton
and Dairy targets
Chrysocolla Central Monzonite Main Western Magnetite Central Monzonite South Kwil KV Buff Chrysocolla East Dominic
The Rabbit North project is a large land package with favorable geology close to infrastructure with limited historic porphyry copper focused exploration
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Nechako Gold Project
- Twelve mineral claims totalling
5,940 hectares located 80 km south of Vanderhoof. Excellent road access.
- 30 km northeast of New Gold Inc's, Blackwater
Gold Project (8.2 Moz Au with 60.8 Moz Ag, Proven and Probable mineral reserve; New Gold website)
- Property is considered prospective for Blackwater-
type epithermal gold and silver mineralization and porphyry-related copper and gold mineralization.
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Nechako Gold
Blackwater
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Nechako Gold Targets
- “Blackwater-Type” Au + Ag +/- Zn epithermal bulk-tonnage target with associated(?) Cu
+ Au Porphyry target.
- Hosted in Jurassic (Hazelton) to Cretaceous (Kasalka) age felsic to intermediate
volcanics, volcaniclastic and intrusive rocks.
- System(s) associated with large Au + Zn + Ag + Cu + Pb till geochemical anomaly (Au to
1050ppb in till), dispersion train ~7km down ice. Gold grains recovered from a recent Geoscience BC heavy mineral till survey down ice from gold target.
- Porphyry system associated with large chargeability-high which is open to south into a
large mag low, Epithermal system(?).
- Epithermal gold target has not been drill tested to date.
- Also historically explored by Rio and Placer Dome for Cu potential. Drilled porphyry
mineralization in CH Zone (DDH92-02, 140m of 0.25% Cu with 40m of 0.42% Cu; potassic alteration and strong silicification noted). Shallow drilling with poor recovery. Zone open in multiple directions.
- Strong advanced argillic alteration and silicification noted in recent 2013 holes south of
CH zone.
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Nechako Gold Targets
0.21 g/t Au, 0.65% Cu, 3.6 g/t Ag (grab) Large altered + qtz veined boulders in till Intervals of strong silica altered and brecciated felsic volcanics in drill core
Gold Target
2.9 g/t Au, 12.2% Zn, 19.4 g/t Ag (grab), peripheral base metal veins DDH 92-02: 140m of 0.25% Cu (Au assays unknown) 1050ppb Au 270ppb Au 295ppb Au Highly anomalous gold-in-till samples Down-ice from gold target
Copper Target
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Nechako Gold Till Survey Results
- Till survey conducted late
2016
- Abundant gold recovered
(up to 260 grains in 10kg sample)
- Source(s) of gold
interpreted to be on property due to gold grain morphology and anomaly size, shape
- IP geophysics and additional
till sampling in 2017 to produce drill targets
DRILL TARGET?
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More Creek Project
- Five mineral claims totalling 6,430 hectares located 120
km north of Stewart, BC
- Located in the heart of the world-class Golden Triangle
district
- 55km north of Pretium Resources’ Brucejack Project
(9.1 Moz Au at 17.2g/t Au, Measured and Indicated mineral resource; Pretium website)
- Near significant infrastructure (Northwest Transmission
Line, Highway 37, Bob Quinn airstrip)
- Property is considered prospective for epithermal gold
and silver mineralization
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Golden Triangle
Brucejack (Pretium Resources) 9.1 Moz Au @ 17.2g/t Au (2016 M&I Resource) KSM (Seabridge Gold) 2.8 Billion tonnes @ 0.55g/t Au and 0.21% Cu (2016 M&I Resource)
Sources: Imperial Metals website, Copper Fox website, Seabridge Gold website, Pretium Resources website, Skeena Resources website, NovaGold website
Red Chris (Imperial Metals) 1.03 Billion tonnes @ 0.35g/t Au and 0.35% Cu (2015 M&I Resource) Galore Creek (Teck/NovaGold) 814.7 Million tonnes @ 0.31g/t Au and 0.50% Cu (2011 M&I Resource) Schaft Creek (Teck/Copper Fox) 1.22 Billion tonnes @ 0.19g/t Au and 0.26% Cu (2013 M&I Resource) GJ (Skeena Resources) 133.7 Million tonnes @ 0.36g/t Au and 0.532% Cu (2015 M&I Resource)
More Creek is strategically located in a World-class mineral belt
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More Creek Project – Sinter Zone
Silica + clay alteration, abundant breccias at Sinter Zone Strong Hg, As, Sb anomalies (soil, silts, rocks) Upper, barren zone of epithermal gold system? Pyrite-silica stockwork, silica + clay alteration Elongate fluid conduit structures in amorphous silica matrix
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More Creek Project – 2016 Stream Sampling
100 Cinnabar 20 Cinnabar 20 Cinnabar 38 Gold 41 Gold Three stream sediment samples collected in fall of 2016 All contained cinnabar (Hg sulfide, associated with epithermal systems) Abundant gold grains collected in two samples Gold source unknown but restricted to confined catchment basin
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More Creek Project
- Exploration model suggests gold
mineralization should be targeted below alteration characterized by strong argillic alteration with highly anomalous Hg, Sb, and As
- Gold source confined to small
drainage basin near Sinter Zone; structurally lower?
- Detailed geological mapping,
additional stream sampling, and IP geophysics needed: alteration mapping, definition of structural controls, discovery of gold source
- Define drill targets.
After Buchanan (1981)
Hg Sb As Ag Au Base Metals
100m 200m 300m 400m 500m Depth
Metals Sinter Zone(?) Alteration Gold Target
Exploration Model
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For more information, please contact: Tower Resources Ltd. TSX.V: TWR www.towerresources.ca Info@towerresources.ca 604-558-2565
TSX:TWR.V
912 - 1112 West Pender St., Vancouver BC V6E 2S1 604-558-2565