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Tower Resources $0.28 TWR.V

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By askretka

Posted: Monday Jan 7 9:45:30PM 2013

Good speculation on a group that sold their Blackwater Gold project to Newgold for $550 million.

They have three properties in BC.

1.  JD gold-silver property 300 km north of Smithers, B.C. Tower ended up with a 100% earn-in agreement on 150 in the Toodoggone district that featured 30,000 metres of historic drilling. JD hosts a large epithermal gold-silver system with notable showings exposed over a area.

Highlights around the historic corridor include: 22 metres grading 4.9 grams gold per tonne and 54 grams silver per tonne from 36 metres depth in hole 12-002; 26 metres averaging 3.64 grams gold and 9.29 grams silver from 5 metres depth in hole 12-008; and 13 metres of 10.82 grams gold and 66 grams silver from 30 metres depth in hole 12-003.

2. Tower’s greenfield-stage, wholly-owned Baez gold-silver play, which lies 60 km southeast of Blackwater. Tower started staking a land package in the region in Nov. 2011, and the company now sits on roughly Leslie explains that the team reviewed regional geophysics and identified trending and structures in the area, and he subsequently spent a lot of time at the property in the summer prospecting.

3. Tower’s third asset is a package located 65 km east of Kelowna, B.C. The Waterloo property lies in the historic Lightning Peak silver-gold camp, and saw sporadic production of high-grade silver over the past century. Leslie had been working to consolidate to the claims over the past few years, and Tower signed an earn-in agreement in Oct. 2011 that could see it hold a 100% stake in the project.

During 2011 field work Tower identified four untested targets, including grab samples averaging up to 2,700 grams silver per tonne. On Oct. 23 Tower started up a 1,000 metre program at Waterloo geared towards confirming historic silver mineralization, and gold mineralization lying 500 metres northeast of the past-producing mine site







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