CALGARY,
May 14, 2012 /PRNewswire/ - Boxxer
Gold Corp. (BXX-TSXV/OTC Other-BXXRF) ("Boxxer or the
Company") is very pleased to provide a summary (includes
previously announced drill results) of the analytical results for
the 2011-2012 diamond drilling program on its 100% owned Boss
porphyry copper-gold project in Nevada.
Highlights:
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a) |
Five of the last six drill holes intersected multiple intervals
of copper-gold-silver mineralization including 1.51% copper, 0.18
g/t gold and 2.59 g/t silver over a core interval of 11.3m |
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b) |
DDH-09-2011 intersected a 127.9m interval of significant
copper-gold-silver mineralization that averaged 0.013% copper,
0.042 g/t gold and 0.33 g/t silver in skarn, |
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c) |
The skarn mineralogy, copper-gold-silver+/- molybdenum
mineralization and thick metasomatic skarn suggests proximity to a
mineralized intrusive source, |
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d) |
The exploration data suggests that future drilling on the Boss
Extension skarn should be conducted to the northwest toward the
former Boss Mine, and |
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e) |
Separate episodes of copper-gold-silver and gold-silver
mineralization have been intersected by the drilling. |
Boxxer's President and CEO, Elmer B. Stewart, explained; "Porphyry copper
deposits in limestone such as the Goodsprings District typically contain
mineralized skarn adjacent ("proximal") to the intrusive. The
Boss is an early stage exploration project with significant
intervals of copper mineralization in five of the last six drill
holes. Three of these holes are interpreted to have intersected a
"proximal" copper-gold skarn. The thickness of the skarn and
intervals of metal enrichment suggest a large hydrothermal system
was responsible for the formation of the Boss Extension skarn and
mineralized intervals. The intense silicification and higher
grade copper mineralization intersected on the Oro Amigo zone is
considered a variation of the skarn process similar to that
observed in the Robinson and Bingham Canyon porphyry copper
districts in Nevada and
Utah. The results to date continue
to support a porphyry copper-gold exploration model that is being
used by Boxxer to explore the Boss project".
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| DDH ID |
Dip |
Azimuth |
From (m) |
To (m) |
Interval (m) |
copper (%) |
gold (g/t) |
silver (g/t) |
CuEq % |
| DDH-07-2011 |
-60 |
190 |
0 |
37.1 |
37.1 |
0.27 |
0.04 |
3.03 |
0.34 |
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including |
20.3 |
35.6 |
15.3 |
0.53 |
0.03 |
5.81 |
0.59 |
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191.7* |
210.8 |
19.1 |
0.11 |
0.66 |
2.50 |
0.80 |
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including |
192.5** |
208.0 |
15.5 |
0.13 |
0.80 |
2.80 |
0.96 |
| DDH-08-2011 |
-65 |
270 |
1.7 |
44.8 |
43.1 |
0.10 |
0.04 |
1.83 |
0.18 |
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including |
14.8 |
22.7 |
7.9 |
0.26 |
0.08 |
5.70 |
0.39 |
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and |
166.9 |
178.9 |
12.0 |
0.06 |
0.08 |
0.50 |
0.15 |
| DDH-09-2011 |
-90 |
0 |
2.1 |
27.4 |
25.2 |
0.15 |
0.05 |
2.06 |
0.24 |
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including |
13.9 |
27.4 |
13.5 |
0.22 |
0.07 |
2.88 |
0.32 |
| DDH-10-2012 |
-65 |
45 |
0.7 |
6.7 |
6.0 |
0.87 |
0.17 |
1.24 |
1.02 |
| DDH-10A-2012 |
-65 |
185 |
0.0 |
29.5 |
29.5 |
0.60 |
0.07 |
1.33 |
0.72 |
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including |
0.0 |
11.3 |
11.3 |
1.51 |
0.18 |
2.59 |
1.68 |
| DDH-11-2012 |
-65 |
45 |
233.8 |
253.2 |
19.4 |
trace |
0.06 |
5.00 |
ne |
* contains 0.043% Mo
** contains 0.052% Mo |
The above mineralized intervals are not true width: ne = not
estimated
Recoverable copper equivalent calculations are
based on 88% of the copper content plus 81% of the gold content,
70% of the silver content and 65% of the molybdenum content.
Metal prices are copper $US2.50/pound, gold $US1,200/ounce, silver $US20.00/ounce and molybdenum $17.00/lb.
Diamond Drilling Results:
The analytical results for the lower portion of DDH-10A-2012 and
DDH-11-2012 have been received (see table above). The reported
intervals of visible oxide copper mineralization in DDH-10A-2012
from 151.3m to 170.4m yielded values of geochemical exploration
interest. An interval of low-grade gold-silver mineralization
was intersected in DDH-11-2012 as reported above.
Future Activities:
The 2011-2012 drilling results have significantly advanced our
understanding of the porphyry copper potential of the Goodsprings District and the Boss project. The
2011-2012 drilling indicates significantly stronger metal
enrichment to the northwest of DDH-08-2011. Boxxer is
planning a diamond drilling program to test the interpreted area of
metal enrichment and corresponding chargeability anomalies.
Approval of these drill sites by the Bureau Of Land Management
("BLM") will be required before drilling commences which is planned
in late September-early October contingent of weather.
Sample Preparation and Analysis:
The diamond drilling program was completed using NQ diameter core
with core recoveries averaging 99%. The core was sawed. One
half of the core was submitted for analysis and the balance of the
core was retained for future reference purposes. All drill
core samples were prepared at the ALS Chemex laboratory in
Reno, Nevada. Prepared sample
pulps were shipped to ALS Chemex in Vancouver, British Columbia, for geochemical
analysis (using ME-ICP61 package for base metals and Au-ICP21for
gold). ALS Chemex's quality system complies with the requirements
for the International Standards ISO9001:2000 and ISO 17025:1999.
Analytical accuracy and precision are monitored by the insertion of
standards and blanks in all drill core sample batches submitted and
requests for duplicate check assays from selected pulp or
coarse-reject samples.
About Boxxer Gold Corp.
Boxxer is a Canadian junior resource company involved in the
exploration of the Boss and Buena Vista copper projects in
Nevada, the DOK copper-gold
porphyry property in Northwest British
Columbia, and the East Breccia copper-silver-molybdenum
property in Ontario. Boxxer
also has the Crescent Peak gold-silver project in Nevada and the Gordon Lake gold project
located 110 kilometres north of Yellowknife, NWT Canada.
Elmer B. Stewart,
MSc. P. Geol., President and CEO of Boxxer Gold, is the Company'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.
On behalf of the Board of Directors
Elmer B. Stewart P.
Geol. MSc.
President and CEO
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 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 either the metal
enrichment or the copper mineralization intersected in the three
drill holes mentions in the news release would yield additional
significant grades of either copper or gold or that the mineral
potential of the Goodspring District or the Boss project can be
realized. 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. 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
Boxxer's disclosure documents on the SEDAR website at
www.sedar.com. Boxxer does not undertake to update any
forward-looking information except in accordance with applicable
securities laws.
SOURCE Boxxer Gold Corp.
