Feb. 23, 2011 (Filing Services Canada) -- Boxxer Gold Corp. (BXX - TSX Venture, BXXRF - OTCBB_Pink_Sheets), is very pleased to announce the results of the Quantec Titan-24 DCIP & MT survey completed on the Buena Vista copper project located in west-central Nevada, and new exploration activity is underway at the Gordon Lake gold project.
HIGHLIGHTS:
- Two large areas of Induced Polarization anomalies (18 targets) outlined at Buena Vista,
- Large circular feature outlined in large mineralized iron-carbonate alteration zone at Buena Vista; and
- Ohm Mapper geophysical survey underway on Gordon Lake gold project.
Boxxer's President and CEO, Elmer B. Stewart, explained, "The Titan-24 survey has produced considerable insight as to the possible control on the high-grade copper mineralization previously outlined on the Buena Vista property. Eight circular shaped chargeability anomalies suggest a series of breccia pipes as possible feeders to the copper mineralization on surface. In addition, the geophysical program at Gordon Lake is designed to map the silicification in the area of previously identified high-grade gold mineralization outlined in December 2010 and along the 7 kilometre long shear zone that hosts 17 other zones of gold mineralization, most notably the South, Syn, and Union Zones. The Gordon Lake property is currently being explored under the terms of an Option Agreement with Champlain Resources Ltd. ("Champlain - TSX-V:CPL") whereby Champlain can earn a 55% interest in the project by spending $2mm over a period of three years.
Buena Vista Project:
The DCIP & MT survey located a total of 18 targets including i) four first priority targets (high chargeability and low resistivity), ii) three second priority targets (high chargeability, low resistivity and variable MT resistivity), and iii) 11 third priority (weak to strong chargeability and low to moderate resistivity). Only half of the property has been surveyed with the Quantec system at this point.
First Target:
The first area of chargeability (1,000m by 600m) is located at the south part of the project and correlates well with the DC and MT resistivity results. This zone is interpreted to be an alteration zone that dips to the north.
Second Target:
The second area of chargeability (1,500m by 800m) is located at the north end of the survey area and can be mapped from a depth of 100m to 500m with chargeability increasing with depth. This zone is also interpreted to be an alteration zone.
Iron Carbonate Alteration Zone:
The Titan-24 survey has mapped a circular feature (500m by 400m) of higher chargeability located within a large (3,000m by 1,000m) iron carbonate alteration zone. The circular feature is located below the numerous zones of copper mineralization exposed on surface. The Titan-24 survey also shows that the copper showings outside the circular structure are controlled by northwest trending faults. The table below shows the copper and gold grades of the various materials sampled within the circular feature and from the structural controlled mineralization within the large iron carbonate alteration zone. These results have been set out in previous news releases and are provided to show the reader the range of materials sampled and copper and gold values on the Buena Vista project.
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Sample Type Sample copper copper gold
No. Description (ppm) (%) (g/t)
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49702 area Barite-quartz-iron-carb
chip -hematite vein w/ local 439 0.044 0.001
pyrite (1%).
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49707 area Strongly iron-carb-albite
chip -hem altered, less than 36,300 3.630 <0.001
10% malachite.
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49709 area Strongly altered &
chip gossanous volcanic,
silica-lined boxwork. 5,850 0.585 1.51
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49710 grab Hematitic gossan rubble
less than 5%-10% specular
hematite. 1,400 0.140 0.007
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49711 area Massive siliceous
chip hematitic gossan, fine
grained specular hematite. 404 0.040 0.008
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49712 1' chip Fe-carb-albite-hematite
altered, less than 10%
malachite. 36,700 3.670 0.004
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49713 area Silicious hematitic
chip gossan. 805 0.080 0.003
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49714 grab Malachite-stained,
altered volcanic rubble. 90,000 9.000 <0.001
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49716 1' chip Strong Fe-carb-albite-hem
alteration, 1%-2% malachite. 2,900 2.900 0.003
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49717 1'chip Massive Fe-carb-albite-hem
alteration, 2%-3% malachite. 5,020 0.502 <0.001
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49719 1'chip Massive Fe-carb-albite-hem
alteration; barite veinlets
locally. 21 0.002 <0.001
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49720 area Massive alteration,
chip 5-10% malachite and 10%
oxidized copper minerals. 156,000 15.600 0.823
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49721 area Massive Fe-carb-albite-
chip hem alteration, 5%-10%
malachite. 109,000 10.900 1.175
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Gordon Lake Project:
The Ohm Mapper geophysical survey has commenced, and is designed to follow-up the previously announced gold values (see news release dated, December 9th, 2010) associated with extensive, widespread silicification (essentially silicified shear zones). The survey is expected to take several weeks and will be completed between the Syn Zone and the mafic volcanics to the north, a distance of approximately 7 kilometres, and will cover the 17 zones of gold mineralization previously defined within the Gordon Lake project.
Future Plans:
Work on the Crescent Peak gold-silver project is expected to commence in late February and will consist of outcrop sampling and mapping to better determine the extent and distribution of the gold-silver mineralization exposed in an interpreted silica sinter.
Boxxer also plans to complete a trenching and mapping program at the Buena Vista project to determine the actual dimensions and average grades of the copper mineralization exposed on surface within the large iron carbonate alteration zone. This work will be focused on determining the relationship between the IP anomalies and the large mineralized alteration zone. Completion of this program is contingent upon receipt of approval from the BLM.
Additional work at Gordon Lake will be finalized on receipt of the results and interpretation of the Ohm Mapper survey.
Elmer B. Stewart, MSc. P. Geol., President of Boxxer, is 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 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
email: [email protected]
Boxxer Gold Corp
John L. Maslanyk
Vice President & Chief Information Officer
Tel: 1-403-804-2251
Toll Free: 1-888-479-3596
email: [email protected]
CHF Investor Relations
Jeanny So
Senior Account Manager
Tel: 1-416-868-1079 ext.233
Fax: 1-416-868-6198
email: [email protected]
Torrey Hills Capital
James Macdonald
Senior Account Manager
Tel: 1-858-456-7300
Fax: 1-858-481-4306
email: [email protected]
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, is 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 recently identified geophysical targets are meaningful or could represent significant copper style mineralization. There is no certainty that the chargeability anomalies on the Buena Vista project or that the proposed trenching program will located significant copper mineralization. There is no certainity that the Ohm Mapper survey at Gordon Lake will identify areas of either silicification or significant god 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. 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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