CALGARY, Nov. 15, 2013 /CNW/ - Boxxer Gold Corp. (BXX-TSXV; OTC -BXXRF) ("Boxxer" or the "Company") is pleased to announce the results of a recently completed mapping and VLF-EM geophysical survey completed over a portion of its 11,300 acre East Breccia copper-molybdenum-silver project in September 2013. A significant number of copper-silver +/- molybdenite bearing breccia pipes have been located by historical and current exploration in the Batchawana Greenstone Belt, some of which have been mined (i.e. Tribag Copper mine) in the past.
The East Breccia project is located approximately 60 kilometres north of Sault Ste Marie, Ontario in the Batchawana Greenstone Belt. This Greenstone Belt is interpreted to be a part of the Mid Continent Rift, a regional scale structural feature that hosts numerous large base and precious metal mines in Canada and the United States. Results are highlighted below:
|a)||Two previously unknown breccias with significant copper-silver mineralization have been located approximately 2 kms east of the previously acquired Mountain Breccia,|
|b)||These breccias are located within the 12 kilometer long by 6 kilometre wide area that hosts all conductivity, magnetic and electromagnetic targets as well as all known mineralized breccias (see news release dated April 4th, 2013),|
|c)||These mineralized breccias contain significant copper-silver +/- molybdenite-rhenium mineralization and have an associated positive magnetic signature, and|
|d)||The VLF-EM survey has located zones of conductivity that range from 100 to 200m wide and up to 500m long associated with these mineralized breccia and positive magnetic signatures.|
Boxxer's President and CEO, Elmer B. Stewart, explained; "The recent exploration brings the total number of mineralized breccias within the property to 10 and suggests that the breccia hosted copper-silver mineralization is more widespread than previously known. A large portion of the East Breccia project remains to be explored using modern technology. The combination of the large target area and multiple large mineralized breccias enhances the potential of the East Breccia property to host Iron Oxide Copper Gold mineralization."
Five select characterization samples were collected to determine the concentrations of copper and associated metals in the two mineralized breccias. Analytical results of the five samples are shown in the table below:
|Sample ID||Sample Type||Copper (ppm)||Silver (g/t)|
ppm = part per million, 10,000 ppm equals 1%
Four of the five samples contain significant concentrations of copper and/or silver. Sample EB-4 also contains 0.006% molybdenum and 0.205g/t rhenium similar to the mineralization in the East Breccia zone located approximately 4 kms northeast. The limits of the copper mineralization in both breccias have not been defined.
Additional prospecting, mapping and VLF-EM surveys are currently underway in the area northeast of the East Breccia zone of copper-molybdenum-silver mineralization. The conductivity and magnetic signatures associated with the East Breccia zone of mineralization suggest that this zone could extend 500 metres further to the north and 700 metres to the southwest beyond its currently known boundaries bringing the potential total strike length to over 1,500m in length.
Sample preparation and analysis was completed by ALS Chemex located in Sudbury, Ontario. Analyses were completed using code ME-MS61 using a four acid digestion and analyzing for 48 element including copper-molybdenum-silver-tungsten and rhenium. ALS Chemex did run their internal blanks and standards with the samples submitted by Boxxer.
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, and has reviewed the technical information disclosed in this news release.
About Boxxer Gold Corp.
Boxxer is a Canadian junior resource company involved in the exploration for large polymetallic copper deposits in North America. Boxxer's active projects include the Boss and Buena Vista copper projects in the state of Nevada, the Empire copper-gold-silver project in Idaho, the DOK copper-gold-molybdenum 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.
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 exploration on the East Breccia property will identify additional mineralization; extend the limits of the existing mineralized zone, located additional exploration targets or expand the dimensions of known zones of 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. Management has a reasonable basis for the conclusions drawn. A description of additional 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 law.
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: 1-855-444-4811
e-mail: [email protected]