Aug. 27, 2010 (Filing Services Canada) -- Boxxer Gold Corp. (BXX - TSX Venture), is pleased to announce that MPX Geophysics Ltd. has completed a high sensitivity aeromagnetic survey over the Gordon Lake Gold Project located approximately 110 kilometres northwest of Yellowknife NWT. The purpose of the survey was to map the surface extent of the two parallel gold bearing shear zones that host 17 large zones of gold mineralization. These zones of mineralization are open along strike and at depth. Results of the airborne survey including total field magnetic, calculated vertical gradient and magnetic susceptibility maps are expected to be received in mid-September.
Boxxer's President and CEO, Elmer B. Stewart, explained, "The airborne magnetic survey is the first step in locating the extensions of the gold bearing shear zones identified to date. The characteristics of the mineralization including structural controls, nature and dimensions of the mineralized zones, alteration and the geochemical signature indicate a large shear hosted gold system similar to that which hosted the gold deposits in the Yellowknife Mining District."
Prior work on the property has revealed the following highlights which have been disclosed in previous news releases:
Project Highlights:
* 16 zones of medium to high grade gold mineralization located within a 1
km strike length;
* Gold mineralization hosted in two, wide, sericite-quartz-carbonate
altered shear zones;
* 59 mineralized diamond drill holes in four zones, of which includes the
following;
* 19.40 g/t over 7.40 metres
* 21.00 g/t over 7.20 metres
* 34.10 g/t over 4.80 metres
* 11.30 g/t over 6.45 metres
* Historical estimation* 179,200 t @ 13.47 g/t Au (4.0 g/t Au cut-off) in
two zones
*The historical estimation was completed using the longitudinal sections of the mineralized zones and a polygonal block method. Polygons included all material to the midpoint between adjacent holes. Polygons occurring on the edge of the longitudinal sections and having no adjacent holes were extrapolated a maximum of 15 metres. The historical estimation was completed using a 15 metre search radius, a 2.70 tonnes/cubic metre density, and a 4.0 g/t cut-off over a minimum distance of 1.5 metres. This historical estimation does not conform to CIMM standards as set out in National instrument 43-101 and has not been verified or audited by an independent Qualified Person as that term is defined in National Instrument 43-101 and its companion policies. The Corporation is of the opinion that there has been insufficient exploration to define a mineral resource on the Property. The historical estimate is relevant but should not be relied upon.
The historical estimate was completed for Pacific Trans-Ocean Resources Ltd. by M. Balog consulting geologist in 1989.
Characteristics of the Yellowknife Mining District
The gold mineralization in the Yellowknife Mining District occurs as cross-cutting zones within two north-trending, steeply dipping (70 degrees) shear zones. These shear zone cut mafic volcanic rocks that have been intruded by feldspar porphyry and mafic dykes. The gold mineralization exhibits a weak to strong sericite-quartz-carbonate alteration, a strong arsenic geochemical signature and a pyrite-pyrrhotite-arsenopyrite-spalerite-galena-chalcopyrite mineral association. The Giant and Con mines which together produced over 13 million ounces of gold at an average grade of 14 g/t gold are the two largest mines in the district. These gold deposits consisted of a series of cross-cutting, en echelon bodies that have maximum dimensions of up 150 metres long, range from 1 to 25 metres in width and have a maximum depth extent of 400 metres within the shear zones. The echelon mineralized gold zones have maximum dimensions of up 150 metres long, range from 1 to 25 metres in width and have a maximum depth extent of 400 metres.
At Gordon Lake, the gold mineralization occurs in a series of closely spaced, cross-cutting en echelon zones in two; north-northeast trending, steeply dipping (70) shear zones (referred to as the Ven and Syn) that exhibit weak to strong sericite-quartz-carbonate alteration. The gold mineralization exhibited a strong arsenic geochemical signature and a pyrite-pyrrhotite-arsenopyrite-spalerite-galena-chalcopyrite mineral association similar to the gold deposits in the Yellowknife Mining District. The dimensions of the mineralized zones at Gordon Lake is up to 140 metres long (open), range from 1 to 11 metres in width (open) and have a minimum depth of 215 metres (open).
Exploration Results:
The gold mineralization occurs in dark-gray quartz veins, quartz stock work and in silicified argillite over widths ranging from 1 to 11 metres.
The Ven Shear Zone is interpreted to be approximately 50 metres wide and hosts 16 zones of gold mineralization within a one kilometre strike length. The dimensions of these zones of gold mineralization have not been delineated. The Syn Shear Zone is located 200 metres west of the Ven Shear Zone. This shear zone hosts the Syn Zone, a large zone of high-grade gold mineralization exposed in outcrop.
Elmer B. Stewart, MSc. P. Geol., President of Boxxer, the Corporation'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.
About Boxxer Gold Corp.
Boxxer Gold is a Canadian junior resource company involved in the exploration of three copper-gold projects in the state of Nevada, and a shear hosted gold project located 110 kilometres north of Yellowknife NWT, Canada. For more information on Boxxer please visit our website at www.boxxergold.com or contact:
Boxxer Gold Corp
Elmer B. Stewart
President & Chief Executive Officer
Tel: 1-403-264-4811
Cel: 1-403-680-9584
e-mail: elmerbstewart@hotmail.com
Boxxer Gold Corp
John L. Maslanyk
Vice President & Chief Information Officer
Tel: 1-403-804-2251
Toll Free: 1-888-479-3696
e-mail: jmaslanyk@yahoo.ca
CHF Investor Relations
Alison Tullis
Senior Account Manager
Tel: 1-416-868-1079 ext. 233
Fax: 1-416-868-6198
e-mail: alison@chfir.com
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 the airborne geophysical survey will identify targets or be able to demonstrate the continuity of the shear zones or the gold mineralization, the actual results and future events could differ materially from those anticipated in this news release. There can be no assurance that the zones of gold mineralization mentioned in this news release can be extended. For any forward-looking information given, Management has assumed that the time frame provided to completed surveys and other activities may vary significantly from actual completion of the proposed work programs. Management assumed that the results it receives from its independent contractors and the interpretation thereof are reliable, and 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. For such statements, the Corporation claim safe harbour for future releases. 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 the Corporation's disclosure documents on the SEDAR website at www.sedar.com. The Corporation does not undertake to update any forward-looking information except in accordance with applicable securities laws.
Source: Boxxer Gold Corp. (TSX-V: BXX) http://www.boxxergold.com
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