Jan. 10, 2011 (Filing Services Canada) -- Boxxer Gold Corp. (BXX - TSX Venture, BXXRF - OTCBB_Pink_Sheets), today announced that after receiving results from a preliminary sampling program, it has staked 53 mineral claims (1,166 acres) in the Crescent Peak area of southern Nevada, approximately 30 kilometers South of the Company's Boss property. Highlights of the sampling are summarized below:
Crescent Peak Highlights:
* Two zones of gold and silver mineralization have been identified at Crescent Peak,
* Gold assay values ranged from 0.18 g/t to 7.9 g/t;
* Silver assay values ranged from 3.0 g/t to 227 g/t; and
* Both zones of gold-silver mineralization are characterized by high levels of arsenic-stibnite-mercury which suggests the upper level of a porphyry copper system.
Crescent Peak Project:
The first zone is located around the Double Standard Mine, a former gold mine reported to have produced 300 ounces of gold. The gold-silver mineralization occurs over a horizontal distance of approximately 1,700 metres long by 400 metres wide, and exhibits strong clay alteration associated with a large quartz filled structure which from the textures and multiple episodes of brecciation suggest a possible silica sinter. Five samples of the silica sinter returned gold values ranging from 0.38 g/t - 7.9 g/t gold (0.25 ounces per tonne), and 4.5 g/t - 227 g/t silver (6.6 ounces per tonne) over a strike length of 1,700 metres. The structure consists of multiple quartz/sinter structures over an estimated width of 400 metres.
The second zone covers old underground workings. Two of the three samples collected on this quartz structure returned gold values ranging from 0.18 g/t to 1.21 g/t and silver values ranging from 3.0 g/t to 51 g/t silver over a strike length of 300 metres. Both zones of gold-silver mineralization exhibit an arsenic-stibnite-mercury geochemical signature. A detailed sampling and systematic mapping program of the Crescent Peak claims is scheduled to commence in January 2011.
According to Elmer B. Stewart, Boxxer's President and CEO, "Our exploration activities in the Goodsprings Mining District guided us to the Cresent Peak area to look at a possible porphyry copper target associated with a Cretaceous intrusive. The 1,700 metre long interpreted silica sinter, the associated intense clay alteration and the arsenic-stibnite-mercury geochemical association suggest potential for a large low-sulphur gold-silver system associated with the upper levels of a porphyry copper environment."
Boss Project Diamond Drilling Update:
The Company has completed three diamond drill holes totalling 1,286 metres on geophysical targets BE#1 and BE#2, assays for which will be released upon availability. The drilling program at the Boss Property, which is expected to commence on geophysical target BE#3 on or before January 10, 2011, may be modified in order to further explore a 4,000 metre long area between the Rose and Boss Extension copper-gold skarns.
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.
Boss Property - Equity Conversion of Lease Payment
An agreement has been reached with one of the 50% private patented claim landowners included in the Boss property in Nevada, to convert the monthly lease payments into common shares of Boxxer. Under terms of the agreement the landowner will receive 90,000 common shares in lieu of the US$1,500 monthly lease payments for the twelve month period effective January 1, 2011 through December 31, 2011. This agreement is subject to regulatory approval.
About Boxxer Gold Corp.
Boxxer Gold is a Canadian junior resource company involved in the exploration of two 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
E-mail: elmerbstewart@hotmail.com
Boxxer Gold Corp
John L. Maslanyk
Vice President & Chief Information Officer
Tel: 1-403-804-2251
Toll Free: 1-888-479-3596
E-mail: jmaslanyk@yahoo.ca
CHF Investor Relations
Jeanny So
Director of Operations
Tel: 1-416-868-1079 ext. 225
Fax: 1-416-868-6198
E-mail: jeanny@chfir.com
Torrey Hills Capital
James Macdonald
Senior Account Manager
Tel: 1-858-456-7300
Fax: 1-858-481-4306
E-mail: jmacdonald@torreyhillscapital.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, 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 porphyry copper style mineralization. There is no certainty that the diamond drilling will intersect significant concentrations of copper mineralization or that the approval for the proposed expansion of the diamond drilling on the Boss project or that the geophysical survey on the Buena Vista project will located anomalous features or that the proposed trenching program will located significant copper mineralization on the Buena Vista project. 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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