TITAN-24 Shows Strong Chargeability Associated With Large Copper in Soil Anomaly and Mineralized Altered Intrusive and Volcanic Rocks
CALGARY, Oct. 1, 2012 /CNW/ - Boxxer Gold Corp. (TSXV: BXX) ("Boxxer" or the "Corporation") is very pleased to provide positive results from the TITAN-24 DCIP/MT survey completed by Quantec Geoscience over two large copper-gold-molybdenum-silver in-soil anomalies on Boxxer's DOK project located in northwest British Columbia.
Boxxer's President and CEO, Elmer B. Stewart, explained, "Based on these results, the DOK property is at the drill-ready stage. The combination of Titan-24 results, airborne magnetic data, geology and copper mineralization exposed in bedrock strongly suggests two excellent porphyry style targets have been identified on this part of the DOK property. The chargeability anomalies outlined by the survey cross the interpreted contact between potassic altered and mineralized intrusive rocks and Stuhini volcanics underlying the two large polymetallic copper in soil anomalies with positive magnetic signatures are very compelling targets that suggest large porphyry targets".
The Titan-24 survey completed over two previously identified in-soil anomalies which contain the following historical results (see news release dated May 26, 2011):
|a)||81 areas of copper mineralization have been located on the property; the majority of these occur within the two large polymetallic copper in soil geochemical anomalies,|
|b)||The copper-gold-molybdenum-silver in soil geochemical anomalies occur over a five kilometre strike length. The northwest (see highlights) zone measures 2,000 metres long by up to 1,400 metres wide. The southeast (see highlights) zone measures 1,500 metres long and up to 900 metres wide. Both anomalies are open along strike,|
|c)||Copper concentrations within both soil geochemical anomalies range from 200 to 9,820 parts per million (0.02% to 0.98%) ("ppm") as well as 0.03g/t to 2.2 g/t gold; 14 to 135ppm molybdenum; and 0.6g/t to 84.5g/t silver, and|
|d)||Chip samples of mineralized bedrock in the northwest anomaly returned 0.66% copper over 38 metres, 0.73% copper over 16 metres, and 0.32% copper over 25 metres.|
The highlights of the Titan-24 surveys are:
|a)||13 zones of exploration interest (anomalous chargeability/conductivity) were located,|
|b)||A strong chargeability anomaly with an 800m strike length and a width of up to 1200m underlies the northwest zone. The chargeability anomaly is open along strike in both directions,|
|c)||The chargeability anomaly on the northwest zone coincides with mineralized potassic altered intrusive rock and Stuhini volcanic rocks from which historical sampling includes 0.66% copper over 38m,|
|d)||The copper mineralization in the northwest zone occurs along the eastern side of a large quartz monzonite intrusive,|
|e)||A strong chargeability/conductivity anomaly has been outlined over a 600m strike length and a width of up to 900m in the southeast zone. The chargeability anomaly is open along strike in both directions and shows a strong correlation with strong iron stained rocks (commonly referred to as a gossan) and the copper-gold-molybdenum-silver soil anomaly, and|
|f)||The chargeability anomaly on the southeast zone coincides with potassic altered intrusive rock and Stuhini volcanic rocks. Historical sample results include 5.16 g/t gold (grab sample), 6.7% copper, 65.4 g/t silver and 0.2 g/t gold over a 3 m chip sample and 12.5% copper over a 0.5 m long chip sample occur with the chargeability anomaly.|
Titan-24 DCIP and MT Geophysical Survey:
The Titan-24 survey consisted of five survey lines that ranged in length from 1.4 to 2.0 kms (8.4 kms). The lines were completed at 400m spaced line; three lines were completed on the northwest anomaly and two lines were completed on the southeast anomaly.
Elmer B. Stewart, MSc. P. Geol., President of Boxxer, is the Corporation's nominated Qualified Person pursuant to National Instrument #43-101, Standards for Disclosure for Mineral Projects, has reviewed the technical information disclosed in this news release.
About Boxxer Gold Corp.
Boxxer is a Canadian junior resource company involved in the exploration of the Boss and Buena Vista copper projects in the state of Nevada, the DOK copper-gold porphyry property in Northwest B.C., the East Breccia copper-silver-molybdenum property in Ontario. Boxxer also has the Crescent Peak gold-silver project in Nevada and the Gordon Lake gold project located 110 kilometres north of Yellowknife NWT, Canada.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements: This news release may contain certain forward-looking information. All statements included herein, other than statements of historical fact, is forward-looking information and such information involves various risks and uncertainties. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. For any forward-looking information given, Management has assumed that the results it has received and the interpretation thereof are reliable, and has applied geological and geophysical interpretation methodologies which are consistent with industry standards. There is no assurance that further exploration including diamond drill testing of the coincident geophysical signature and the soil geochemical anomalies outlined on the DOK property would located significant mineralization. Although Management has a reasonable basis for the conclusions drawn, actual results may differ materially from those currently anticipated in such statements. For such statements, the Corporation claim safe harbor for future releases. A description of assumptions used to develop such forward-looking information and a description of risk factors that may cause actual results to differ materially from forward-looking information can be found in the Corporation's disclosure documents on the SEDAR website at www.sedar.com. The Corporation does not undertake to update any forward-looking information except in accordance with applicable securities laws.
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