CALGARY, Sept. 18, 2012 /CNW/ - Boxxer Gold Corp. (TSXV: BXX), (OTC: BXXRF) ("Boxxer or the Company") is pleased to announce analytical results for the last four diamond drill holes from the 2012 confirmation diamond drilling program on its East Breccia project located in Ontario. The objective of the 2012 drilling was to verify the mineralization reported in the historical drill holes (completed between the late 1960's and early 1980's) and at the same time determine the copper-molybdenum-silver concentration over the entire core length of each drill hole completed in 2012. The 2012 drill program selected six historical holes representing three copper grade classes for verification purposes. The six drill holes completed in 2012 were located either at the collar off or as near as possible to the historical drill hole selected for verification. Assay results for two holes have previously been announced.
|a)|| The 2012 diamond drilling program has confirmed widespread, significant polymetallic copper-molybdenite-silver mineralization in all six holes completed in 2012,
|b)||The average copper grade in the 2012 drill holes varies in relation to the reported historical information. Several holes contain comparable copper grade. The copper content in the other holes range from +59% to -30%,|
|c)||Significantly longer intervals of copper-molybdenum-silver mineralization were intersected in the 2012 drill program than that reported in the historical records,|
|d)||The mineralization was interested over an area that measures approximately 200metres by 120metres and is open in all directions,|
|e)||A follow-up drilling program on the East Breccia zone is warranted.|
Boxxer's President and CEO, Elmer B. Stewart, explained; "The 2012 program indicates continuity of significant grades of copper-molybdenite-silver mineralization over broad intervals in all drill holes which supports the reported metal grades in the previous 55 holes drilled within this zone. These results indicate that the mineralization is open in all direction and in several drill holes at depth. A follow-up drilling program to further define the mineralization in the East Breccia Zone is warranted".
Analytical results for the selected mineralized intervals in the four drill holes are presented below.
|DDH ID||Dip||Azimuth||From (m)||To (m)||Interval (m)||copper (%)||molybdenum (%)||silver (g/t)||rhenium (g/t)||CuEq %|
The core intervals stated above are not true widths.
The end points for the mineralized intervals reported in the above table were established where the copper grade was less than 0.05% over four continuous sample intervals. The weighted average grade of the copper mineralization within the reported intervals was estimated using a zero copper cut-off grade. Top cuts were not applied to the metals included in the above table.
Diamond Drill Results:
The last four drill holes from the 2012 drilling program intersected variable concentrations of chalcopyrite+/-molybdenite mineralization over variable core intervals. Although higher grade copper mineralization was observed within the individual core intervals shown in the above table, the entire selected mineralized intervals contain significant copper mineralization. Pyrite is the dominant sulfide in each drill hole. The mineralization occurs in what is described as a sequence of altered gabbro and volcanic rocks.
Future Activities on the East Breccia and DOK Properties:
Boxxer is working towards completion of the previously announced Letter of Intent to purchase additional mineral tenures around the East Breccia property. Contingent on completion of this proposed transaction, Boxxer's plans for future exploration include a high resolution airborne magnetic survey, a ground geophysical survey and a diamond drilling program on the East Breccia zone. Boxxer is expecting the final report on the Titan-24 DCIP & MT survey on the DOK copper-gold-molybdenum project located in northern British Columbia around mid-September.
Sample Preparation and Analysis:
All drill core samples were prepared at the ALS Minerals in Sudbury, ON. The samples were prepared using prep code 31A and the ME-ICP61 package for base metals. ALS quality control system complies with the requirements for the International Standards ISO9001:2000 and ISO 17025:1999. Analytical accuracy and precision are monitored by the use of international standards. Additional quality control measures included insertion of blanks and standards in all drill core sample batches submitted.
Copper equivalent calculations are based on the assumption of recovering 100% of all metals using the following metal prices of $2.00 USD/pound for copper, $17.50 USD/pound for molybdenum, $20.00 USD/ounce for silver and 5.00 USD/ounce for rhenium.
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 the proposed purchase of additional mineral tenures or planned future exploration on the East Breccia property will be completed or that additional exploration on these mineral tenures will result in the discovery of additional copper+/-molybdenite-silver 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.
SOURCE: Boxxer Gold Corp.
For further information:
For more information on Boxxer please visit our website at www.boxxergold.com or contact:
Boxxer Gold Corp
John L. Maslanyk
Vice President & Chief Information Officer
Toll Free: 1-888-479-3596
e-mail: [email protected]
Macam Investor Relations
e-mail: [email protected]