CALGARY, Feb. 3, 2012 /CNW/ - Boxxer Gold Corp. (TSXV: BXX)(OTC: BXX) (Other-BXXRF) ("Boxxer or the Company") is pleased to provide an update on corporate activities on its now 100% owned Buena Vista copper-gold project in north central Nevada.
|a)||Boxxer has purchased a 20% working interest from its partners in the Buena Vista project, bringing its ownership in the project to 100% ,|
|b)||The additional 20% working interest has been purchased by granting an industry standard one percent (1%) Net Smelter Return ("NSR") to the vendors,|
|c)||Surface exploration of the Buena Vista project is expected to get underway by the end of February, 2012.|
Boxxer's President and CEO, Elmer B. Stewart, explained; "Now that Boxxer owns a 100% working interest in the Buena Vista copper-gold project, our exploration plans for 2012 can commence. The 2012 exploration program includes assessing the iron potential of the project based on the iron deposits that were exploited in this area in the mid-1940's. The primary focus of the 2012 program will be to understand the dimensions, continuity and grade of the 53 zones of copper mineralization located on the property. The data collected to date strongly supports an iron-oxide-copper-gold style of mineralization for this property".
The exploration of the Buena Vista property is expected to get underway in mid to late February, 2012. The work will focus on understanding the relationship between the strong iron carbonate alteration, the 53 zones of copper mineralization exposed on surface and the Titan-24 chargeability targets.
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. and 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 the proposed surface work on the Buena Vista project would extended the know zones of copper mineralization or that additional mineralization would be found. 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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