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Boxxer Updates on Exploration Activities and Closes Third Tranche of Private Placement
Boxxer Updates on Exploration Activities and Closes Third Tranche of Private Placement
About this update from Exgen Resources Inc.
[{"type":"text","content":"\nBoxxer Updates on Exploration Activities and Closes Third Tranche of Private Placement\n\n\n Mar. 24, 2010 (Filing Services Canada) -- Boxxer Gold Corp. (BXX - TSX Venture), is pleased to announce today preliminary sampling results and the closing of the third tranche of the non-brokered private placement of up to $1,000,000, pursuant to its first announcement on January 27, 2010. Highlights * Surface sampling on new mineral claims return positive results of  various oxide copper mineralization* Closed $596,300 of private placement of up to $1,000,000\t\t\t\tSelect Sampling:Surface follow-up on the two recently acquired blocks of mineral claims has identified large areas of visible oxide copper mineralization on surface.  Preliminary select sampling of the various styles of oxide copper mineralization was completed on each block to determine the copper-gold-silver concentrations and the geochemical signature of the mineralization.  The two samples from the Rose Mine indicate two mineralizing events, with one sample containing 7.28% copper, 1.03 grams per tonne (g/t) gold and 42.2 g/t silver along with a strong arsenic, bismuth (221 parts per million \"ppm\"), molybdenum (407 ppm) cobalt (1,676 ppm), nickel (582 ppm) lead (3,386 ppm), zinc (563 ppm) geochemical signature.  The second sample from the Rose Mine area contains 2.84% copper, trace gold and 3.1 g/t silver, and background concentration of arsenic-bismuth-molybdenum.  The four select samples from the area around the Columbia Mine yielded copper-gold-silver mineralization with a weak cobalt-nickel-lead-zinc geochemical signature. Copper values in the four samples ranged from 42 to 1,386 ppm copper, 27 to 7,467 parts per billion (\"ppb\") gold (7.46 g/t gold), less than 0.5 g/t silver and 0.5 to 351 ppb platinum.  Systematic sampling and mapping of these areas of oxide copper mineralization are planned to commence in April 2010.Financing:Boxxer has closed the third tranche of its current private placement (see News Release dated January 27, 2010). The third tranche consisted of 1,665,000 Units at $0.10 per Unit for gross proceeds of $166,500 bringing the total amount raised to date to $590,300, through the issuance of 5,903,000 Units, each priced at $0.10 per Unit. These securities were issued with a four month ...