CALGARY, Jan. 6, 2014 /CNW/ - Boxxer Gold Corp. (BXX-TSXV/OTC-BXXRF)) ("Boxxer or the Company") is pleased to announce that it has completed a National Instrument 43-101 Technical Report on its Empire Mine copper-gold porphyry project located in the Alder Creek Mining District near Mackay, Idaho (for more detailed information on Empire Mine Project, see news release dated July 4, 2013). The Technical Report is titled "Geological Assessment and Exploration Proposal (2014/2015) for the Empire Mine Project, Alder Creek Mining District", Custer County, Idaho, U.S.A. The Technical Report dated December 15, 2013 was prepared by Mr. P. Van Angren, P. Geol., and will be filed on SEDAR before January 15, 2014.
The Empire Mine property, a former copper-gold-silver producer, consists of 23 patented mineral claims, 21 unpatented mineral claims and five unpatented mill-site claims covering a contiguous 301 hectares (743.7 acres).
The Empire Mine is reported to have produced 694,000 tonnes grading 3.64% copper, 1.65 g/t gold and 53.9 g/t silver from underground workings during the period 1901 to 1942. The property is classified as a polymetallic copper skarn. Previous exploration has encountered oxide and sulphide copper mineralization over a strike length of 1,200m which ranged from 6 to 70m thick, and to a depth in excess of 300m. A total of 258 drill holes (core and reverse circulation), of which 196 are located within the AP pit area, have been completed on the Property.
Boxxer's President and CEO, Elmer B. Stewart, explained; "We are very pleased that the recently completed independent Technical Report recommends additional metallurgical testwork and a preliminary resource-modelling study aimed at generating a NI 43-101 current mineral resource estimate for the Empire Mine Project. These recommendations combined with the positive results of the recent metallurgical testwork suggest the advanced nature of this project".
Excerpts from Technical Report:
- "Preliminary column leach tests have shown very encouraging acid-leachable copper-recovery results."
- "Cambior's assessment of this project, further supported by third party engineers and by current drill data analysis, makes this property attractive for the potential development of its near-surface acid-leachable oxide copper mineralization".
- "The underlying higher grade sulphide zone, which defines the historical Empire Mine, remains virtually unexplored".
- "Potential exists on the property to improve the current near-surface historical resource, and to discover additional base and precious metal mineralization".
Proposed Additional Work:
Phase I exploration is estimated to cost $200,000 and would entail the initiation of preliminary resource-modelling study aimed at generating a NI 43-101 current mineral resource estimate for the oxide and sulphide portions of the skarn mineralization at the Empire Mine. Phase I would also include on-going metallurgical testwork on the oxide portion of the property. Contingent on the preliminary resource modelling, four RC holes (450 metres) may be needed in order to obtain a complete picture of the distribution of oxide mineralization in the AP Pit.
Phase II is estimated to cost $1,025,000 and would consist of 20 reverse circulation ("RC") holes (2,700m) in the central & north portions of mineralized skarn, along with two core holes (900m)) on the deeper workings of the Empire Mine as well as compilation of underground data to optimize drill hole positioning and geometry of the mineralized zone.
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 Empire Mine copper-gold-silver project in Idaho, the DOK copper-gold porphyry property in Northwest B.C. and the East Breccia copper-silver-molybdenum property in Ontario. Boxxer also has 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.
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 additional metallurgical testwork would improve metal recoveries, there is no certainty that a mineral resource exists on the Property or that additional exploration on the Empire Mine project would locate or extend the dimensions of the known 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.
SOURCE: Boxxer Gold Corp.
For further information:
For more information on Boxxer please visit our website at www.boxxergold.com or contact Jason Riley at 1-403-264-4811, or Cameron Macdonald at 1-403-452-6600
Boxxer Gold Corp
Elmer B. Stewart
President & Chief Executive Officer
e-mail: [email protected]
Macam Investor Relations
email: [email protected]