CALGARY, June 14, 2012 /CNW/ - Boxxer Gold Corp. (BXX-TSXV/OTC Other-BXXRF)) ("Boxxer or the Company") is pleased to provide an update on drilling activities at its East Breccia copper-molybdenum-silver project located in the Sault Ste. Marie Mining Division in south-central Ontario. Six of the proposed eight diamond drill holes have been completed with detailed logging and sampling of the core underway. The drilling program is being completed in the most logistically efficient manner as possible which necessitates drilling holes out of the normal sequence. Highlights of the first three holes are as follows:
|-||Diamond drill hole (DDH) EB-05-2012 was drilled to a depth of 251.76 metres (m) and intersected two intervals of copper-pyrite mineralization. Molybdenite mineralization is associated with the lower interval,|
|-||DDH EB-02-2012 was drilled to a depth of 248.70m and intersected four intervals of copper-pyrite mineralization. Molybdenite mineralization is associated with the upper mineralized interval in this hole,|
|-||DDH EB-04-2012 was drilled to a depth of 254.20m and intersected two intervals of copper-pyrite mineralization. Molybdenite mineralization is associated with both mineralized intervals in this hole, and|
|-||Three additional diamond drill holes have been completed and are pending completion of detailed logging and sampling for analytical purposes.|
Elmer Stewart, President and CEO of Boxxer stated, "The descriptions of the three drill holes logged to date indicate broad intervals of copper mineralization which in some cases is associated with molybdenite mineralization. The purpose of the 2012 program is to confirm the historical drilling results reported from the East Breccia zone. The intervals of copper +/- molybdenite mineralization observed in the diamond drill holes to date are encouraging, but assay results will be required to confirm the historical reported analytical results".
The reader is cautioned that visible copper and molybdenite mineralization does not necessarily equate to significant concentrations of either copper or molybdenum and there is no assurance that the assay results of the samples from these drill holes will yield significant copper or molybdenum grades.
DDH EB-05-2012 located at the collar of DDH EB-17 (historical drill hole) intersected disseminated and veinlet controlled chalcopyrite (a copper sulphide mineral) mineralization from 4.0m to 14.67m and from 24.9m to 251.76m. Molybdenite mineralization is associated with the chalcopyrite mineralization and occurs as veinlet and in quartz veins. Pyrite (an iron sulphide) is the dominant sulphide mineral identified in this drill hole. The mineralization is hosted in a sequence of lithologies altered gabbro and volcanic rocks.
DDH EB-02-2012 located at the collar of DDH EB-5 (historical drill hole) is situated approximately 70m west of DDH EB-05-2012 and intersected four intervals of disseminated and veinlet controlled chalcopyrite mineralization. The upper three intervals occur over core intervals ranging from 3.0 to 24.0m (not true thickness) and contain chalcopyrite mineralization. The lower interval occurs over a core interval from 128.7m to 243.4m and contains chalcopyrite and molybdenite mineralization. The distribution of the molybdenite is more restricted than the chalcopyrite mineralization within this interval. Pyrite is the dominant sulphide mineral identified in this drill hole. The mineralization is hosted in a sequence of altered gabbro and volcanic rocks.
DDH EB-04-2012 located at the collar of DDH EB-12 (historical drill hole) is situated 70m northeast of DDH EB-05-2012 and intersected two intervals of disseminated and veinlet controlled chalcopyrite+/-molybdenite mineralization. The mineralized intervals occur over core intervals from 2.50m to 108.7m and from 121.0 to 200.9m. The distribution of the molybdenite is more restricted than the chalcopyrite mineralization with pyrite being the dominant sulphide mineral identified in the drill hole. The mineralization is hosted in a sequence of altered gabbro and volcanic rocks.
Diamond Drilling and Sampling Procedures:
The diamond drilling was completed using an NQ core size. Core recovery was estimated to be greater than 97%. After cutting with a diamond saw, one half of the core is collected for sample preparation and analysis and the other half is retained for future reference. Sample intervals are being selected based on lithology changes/alteration intensity/estimated mineral content. Sample preparation and analysis is being completed by ALS Chemex located in Sudbury, Ontario. Analyses are being completed using code ME-MS61 using a four acid digestion and analyzing for 48 element including copper-molybdenum-silver-tungsten and rhenium.
Boxxer follows a rigorous Quality Assurance/Quality Control program consisting of inserting standards, blanks and duplicates into the sample stream submitted to the laboratory for analysis.
About Boxxer Gold Corp.
Boxxer is a Canadian junior resource company involved in the exploration of the Boss and Buena Vista copper projects in Nevada, the DOK copper-gold porphyry property in Northwest British Columbia 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 and CEO 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 diamond drilling or the reported mineralization in the current drill holes from the East Breccia project would return significant intervals of copper or molybdenite mineralization. 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.
For further information:
For more information on Boxxer please visit our website at www.boxxergold.com or contact:
Boxxer Gold Corp
email: [email protected]
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]