BOXXER GOLD ANNOUNCES TITAN-24 SURVEY IDENTIFIES
NUMEROUS GEOPHYSICAL TARGETS AT BUENA VISTA: ADDITIONAL WORK UNDERWAY AT
GORDON LAKE GOLD PROJECT
Calgary, Alberta: Boxxer
Gold Corp. (TSX-V:BXX/OTC
Other:BXXRF) (�Boxxer� or the �Corporation�) 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.
Sample No.
|
Type
|
Sample Description
|
copper (ppm)
|
copper (%)
|
gold (g/t)
|
49702
|
area chip
|
Barite-quartz-iron-carb-hematite
vein w/ local pyrite (1%).
|
439
|
0.044
|
0.001
|
49707
|
area chip
|
Strongly iron-carb-albite-hem
altered, less than 10% malachite.
|
36,300
|
3.630
|
<0.001
|
49709
|
area chip
|
Strongly altered & gossanous volcanic, silica-lined boxwork.
|
5,850
|
0.585
|
1.51
|
49710
|
grab
|
Hematitic gossan
rubble less than 5%-10% specular hematite.
|
1,400
|
0.140
|
0.007
|
49711
|
area chip
|
Massive siliceous hematitic gossan, fine grained specular
hematite.
|
404
|
0.040
|
0.008
|
49712
|
1' chip
|
Fe-carb-albite-hematite
altered, less than 10% malachite.
|
36,700
|
3.670
|
0.004
|
49713
|
area chip
|
Silicious hematitic gossan.
|
805
|
0.080
|
0.003
|
49714
|
grab
|
Malachite-stained, altered volcanic rubble.
|
90,000
|
9.000
|
<0.001
|
49716
|
1' chip
|
Strong Fe-carb-albite-hem
alteration, 1%-2% malachite.
|
2,900
|
2.900
|
0.003
|
49717
|
1'chip
|
Massive Fe-carb-albite-hem
alteration, 2%-3% malachite.
|
5,020
|
0.502
|
<0.001
|
49719
|
1'chip
|
Massive Fe-carb-albite-hem
alteration; barite veinlets locally.
|
21
|
0.002
|
<0.001
|
49720
|
area chip
|
Massive alteration, 5-10% malachite and 10% oxidized copper
minerals.
|
156,000
|
15.600
|
0.823
|
49721
|
area chip
|
Massive Fe-carb-albite-hem
alteration, 5%-10% malachite.
|
109,000
|
10.900
|
1.175
|
Note: ppm is parts per million, all
samples over 10,000 ppm copper were assayed
|
|
|
|
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
|
Boxxer Gold Corp
|
Elmer B. Stewart
|
John L. Maslanyk
|
President & Chief Executive Officer
|
Vice President & Chief
Information Officer
|
Tel: 1-403-264-4811
|
Tel: 1-403-804-2251
|
Cel: 1-403-680-9584
|
Toll Free:1-888-479-3596
|
e-mail: elmerbstewart@hotmail.com
|
e-mail:jmaslanyk@yahoo.ca
|
|
|
CHF Investor Relations
|
Torrey Hills Capital
|
Jeanny So
|
James Macdonald
|
Senior Account Manager
|
Senior Account Manager
|
Tel: 1-416-868-1079 ext. 233
|
Tel: 1-858-456-7300
|
Fax: 1-416-868-6198
|
Fax: 1-858-481-4306
|
e-mail: alison@chfir.com
|
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 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.
|