Business
Airborne Geophysical Survey Outlines Structural Control on Gold Mineralization at Gordon Lake
Airborne Geophysical Survey Outlines Structural Control on Gold Mineralization at Gordon Lake
About this update from Exgen Resources Inc.
[{"type":"text","content":"\nAirborne Geophysical Survey Outlines Structural Control on Gold Mineralization at Gordon Lake\n\n\n Oct. 8, 2010 (Filing Services Canada) -- Boxxer Gold Corp. (BXX - TSX Venture, BXXRF - OTCBB_Pink_Sheets), is pleased to announce the results of the high sensitivity aeromagnetic survey over the Gordon Lake Gold Project located approximately 110 kilometres northwest of Yellowknife, NWT.  The survey traced along strike, the previously identified gold bearing shear zones to establish regional structural control on the 17 large zones of gold mineralization identified to date. Champlain Resources Ltd. has the option to earn a 55% interest in the Gordon Lake gold project over a three year period by making $2mm in expenditures. Boxxer is the operator of the project.Survey Highlights:* The gold mineralization located between the Main and South zone is  located within a strong north trending interpreted fault zone;* The gold mineralization located between the S2 zone and the Syn zone  is hosted in a strong northeast trending interpreted fault zone;* A strong, 400 metre wide circular magnetic low occurs along the  northeast trending fault that hosts the S2 to Syn zones of gold  mineralization; and* The zones of gold mineralization are associated with positive  irregular magnetic features that are interpreted to be buried  intrusives. Boxxer's President and CEO, Elmer B. Stewart, explained, \"The airborne survey has identified a number of previously unknown structural and intrusive features. The zones of gold mineralization are interpreted to occur along north-south and north-east trending interpreted fault/shear zones associated with positive magnetic features. The circular magnetic low was never previously identified and is of considerable interest as a possible pipe like intrusive body.  The characteristics of the mineralization identified to date, including structural controls, alteration, geochemical signature and the nature and dimension of the mineralized zones, all indicate a large shear-hosted gold system similar to that which hosted the gold deposits in the Yellowknife Mining District.\"2010 Exploration Program: Phase one of the 2010 exploration program is well underway on the Gordon Lake property. The program consists of line cutting and resistivity...