CALGARY, Jan. 15, 2013 /CNW/ - Boxxer Gold Corp. (BXX-TSXV/OTC Other-BXXRF)) ("Boxxer or the Company") is pleased to provide the results of the limited surface mapping and sampling program completed in December 2012 on its 100% owned Buena Vista copper-gold project in north central Nevada. The objective of the work was to identify the source of the two large Titan-24 chargeability signatures located within the project area (see News Release dated February 23, 2011).
|a)||The chargeability anomalies show a strong correlation to copper oxide mineralization exposed in outcrop.|
|b)||The five areas of copper-silver-gold mineralization sampled in 2012 are located outside the zone of strong carbonate alteration.|
|c)||The recently located zones of copper-silver mineralization with low but significant gold concentrations occur in sericite-hematite altered volcanics.|
Boxxer's President and CEO, Elmer B. Stewart, explained; "We are very pleased with the results of the recently completed exploration program. These zones of copper mineralization occur outside the previously identified large alteration zone and are associated with hydrothermally altered volcanics. Although limited in scope, the work shows a strong correlation between the two large Titan-24 chargeability signatures and these zones of high grade copper mineralization. The work also shows that the copper mineralization within the property is more wide spread than indicated by the previous work. The 2012 samples were collected from much larger zones of oxidized copper mineralization exposed in outcrop that has a strong barium-arsenic geochemical signature".
The following table provides information on the sample type, intervals and copper-silver-gold concentrations.
|Sample ID||Sample Type||Interval (m)||Copper (%)||Silver (g/t)||Gold (g/t)|
|BV-04-2013||Area Chip||30cm X 30cm||1.56||30.0||0.03|
|BV-05-2013||Area Chip||30cm X 30cm||1.43||6.0||trace|
This chargeability signature covers an area measuring approximately 1,500m by 800m located at the north end of the project and extends to a minimum depth of 500m with the chargeability response increasing with depth. This zone is also interpreted to be an alteration zone. Sample BV-04-2012 is taken from a crackle zone that exhibits a close spaced system of carbonate fractures carrying copper oxide mineralization.
This area of chargeability covers an area measuring approximately 1,000m by 600m located at the south part of the project and correlates well with the DC and MT resistivity results. This zone is interpreted to be an alteration zone that dips to the north. Samples BV-02-2012, BV-03-2012 and BV-05-2012 are channel samples taken from separate zones of copper oxide mineralization exposed within the chargeability signature. The zones of copper oxide mineralization are exposed in moderate to strong sericite-hematite altered volcanics and vary in size with one zone measuring 10m by 10m in size before disappearing under the overburden.
Sample BV-01-2012 was collected from a 20m by 20m zone of mixed limonite copper oxide mineralization hosted in altered volcanics. The mineralization is associated with a low chargeability response within the previously identified large iron carbonate alteration zone.
The correlation of the copper mineralization, the two large chargeability signatures and strong positive magnetic signature warrants additional exploration on the Buena Vista property. The next phase of work for the Buena Vista project would include trenching, mapping and detailed channel sampling to determine the dimensions, morphology and average grade of the numerous zones of copper mineralization exposed in outcrop.
East Breccia copper-molybdenum-silver project:
Boxxer expects to receive the preliminary results of the airborne electromagnetic and magnetic surveys completed over its East Breccia copper-molybdenum-silver project in late December 2012 before the end of January. Results of these surveys will be released after compilation and interpretation of the results have been completed.
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 additional surface work on the Buena Vista project would extended the dimensions of 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.
SOURCE: Boxxer Gold Corp.
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Boxxer Gold Corp
John L. Maslanyk
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