CALGARY, Jan. 12, 2012 /CNW/ - Boxxer Gold Corp. (BXX-TSXV) (OTC Other-BXXRF) ("Boxxer or the Company") is very pleased to provide an update on the ongoing diamond drilling program on its 100% owned Boss porphyry copper-gold Boss project in Nevada; including visual observation of the core from the first two drill holes and the addition of mineral tenures to the DOK copper-gold property in British Columbia.
|a)||DDH-08-2011 intersected visible malachite +/- bornite + azurite mineralization over a core interval of 47.5 m from 1.79m to 49.3m and at the core interval of 181.0m and the core interval of 278.0m,|
|b)||DDH-09-2011 intersected visible malachite +/- bornite + azurite + chalcopyrite mineralization over a core interval of 41.06m from 1.83m to 42.89m and over a core interval of 5.12m from 170.0m to 175.12m,|
|c)||The mineralization occurs as dissemination, fractures and veinlets hosted in skarn, and|
|d)||Two additional mineral tenures have been added to the DOK copper-gold property.|
Boxxer's President and CEO, Elmer B. Stewart, explained; "The current drilling program has intersected the mineralized skarn intersected in DDH-07-2011 to the west and at depth. Copper mineralization is also exposed in outcrop for a vertical distance of approximately 10m above the location of the drill hole collars which suggests a thickness of approximately 50m to the mineralized skarn. The data and textures observed in the core suggests that the mineralization is hosted in a large metasomatic skarn related to a porphyry system".
Diamond Drilling Results:
DDH-08-2011 is an inclined (-75 degrees) HQ diameter hole that was completed to depth of 439.3 m. The upper 295m portion of this hole is dominantly interlayered skarn and marble below which is carbonaceous limestone to the bottom of the hole.
DDH-09-2011 is a vertical HQ diameter hole that is currently drilling in an interlayered sequence of marble and skarn. The top 175 m portion of this hole is covered in this news release.
The reader is cautioned that visible copper mineralization does not necessarily equate to significant concentrations of copper. There is no assurance that the assay results of the samples from these drill holes will yield significant copper grades. The core intervals shown in this news release are not true thickness.
Analytical results for the mineralized core intervals observed in diamond drill hole ("DDH") DDH-08-2011 and DDH-09-2011 have not been received. The current drill holes were drilled from the same location as DDH-07-2011. A plan map showing the location of the drill holes can be viewed on the Company's website at www.boxxergold.com. (see: Boss project - Maps)
Future Boss Drilling Plans:
Boxxer currently plans to complete two diamond drill holes in the vicinity of the former Oro Amigo mine to test two large positive chargeability anomalies and follow-up the results of drill hole DDH-B-05-09 (total depth 47.9m) that intersected a weighted average grade of 1.05% copper and 0.15 g/t gold over an interval of 20.0 metres (see News Release dated May 19, 2009). The mineralization in the Oro Amigo mine and in DDH-B-05-09 is interpreted to represent a "leakage" zone from the deeper, large chargeability anomaly.
Boxxer is pleased to announce the addition of two additional mineral tenures (totalling 866.7 Hectares or 2,140.8 acres) to the DOK copper-gold-molybdenum-silver property located in northwest British Columbia. These mineral tenures were added to cover a coincident potassium/positive magnetic signature outlined by an airborne geophysical survey completed in 2011. These mineral tenures are subjected to the terms and conditions of the option agreement on the DOK property executed in 2011.
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.
Elmer B. Stewart, MSc. P. Geol., President of Boxxer Gold, is the Company'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.
On behalf of the Board of Directors
Elmer B. Stewart P. Geol. MSc.
President and CEO
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, are 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. There is no certainty that either the copper mineralization intersected in DDH-08-2011 or DDH -09-2011 would yield significant grades of copper or that the chargeability targets located on the Boss project can either be extended or that additional mineralization would be found. There is no certainty that the coincident potassium/positive magnetic signature outlined by the high resolution magnetic survey on the DOK property will locate significant mineralization. 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. Although Management has a reasonable basis for the conclusions drawn, actual results may differ materially from those currently anticipated in such statements. 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 Boxxer's disclosure documents on the SEDAR website at www.sedar.com. Boxxer does not undertake to update any forward-looking information except in accordance with applicable securities laws.
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