Boxxer locates high grade copper-silver mineralization at Buena
Vista, confirms source of Titan-24 chargeability anomalies
CALGARY,
Jan. 15, 2013 /CNW/ - Boxxer Gold
Corp. (BXX-TSXV/OTC Other-BXXRF)) ("Boxxer or the Company")
is pleased to provide the results of the limited surface mapping
and sampling program completed in December
2012 on its 100% owned Buena Vista copper-gold project in
north central Nevada. The
objective of the work was to identify the source of the two large
Titan-24 chargeability signatures located within the project area
(see News Release dated February 23,
2011).
Highlights:
|
|
a) |
The chargeability anomalies show a strong correlation to copper
oxide mineralization exposed in outcrop. |
|
|
b) |
The five areas of copper-silver-gold mineralization sampled in
2012 are located outside the zone of strong carbonate
alteration. |
|
|
c) |
The recently located zones of copper-silver mineralization with
low but significant gold concentrations occur in sericite-hematite
altered volcanics. |
Boxxer's President and CEO, Elmer B. Stewart, explained; "We are very
pleased with the results of the recently completed exploration
program. These zones of copper mineralization occur outside
the previously identified large alteration zone and are associated
with hydrothermally altered volcanics. Although limited in
scope, the work shows a strong correlation between the two large
Titan-24 chargeability signatures and these zones of high grade
copper mineralization. The work also shows that the copper
mineralization within the property is more wide spread than
indicated by the previous work. The 2012 samples were collected
from much larger zones of oxidized copper mineralization exposed in
outcrop that has a strong barium-arsenic geochemical
signature".
The following table provides information on the
sample type, intervals and copper-silver-gold concentrations.
Sample ID |
Sample Type |
Interval (m) |
Copper (%) |
Silver (g/t) |
Gold (g/t) |
BV-01-2013 |
Chip/Channel |
1.0 |
2.01 |
22.0 |
0.03 |
BV-02-2013 |
Chip/Channel |
1.5 |
2.40 |
6.0 |
0.07 |
BV-03-2013 |
Chip/Channel |
1.0 |
0.39 |
8.0 |
0.24 |
BV-04-2013 |
Area Chip |
30cm X 30cm |
1.56 |
30.0 |
0.03 |
BV-05-2013 |
Area Chip |
30cm X 30cm |
1.43 |
6.0 |
trace |
Anomaly A:
This chargeability signature covers an area measuring approximately
1,500m by 800m located at the north end of the project and extends
to a minimum depth of 500m with the chargeability response
increasing with depth. This zone is also interpreted to be an
alteration zone. Sample BV-04-2012 is taken from a crackle zone
that exhibits a close spaced system of carbonate fractures carrying
copper oxide mineralization.
Anomaly B:
This area of chargeability covers an area measuring approximately
1,000m by 600m 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.
Samples BV-02-2012, BV-03-2012 and BV-05-2012 are channel samples
taken from separate zones of copper oxide mineralization exposed
within the chargeability signature. The zones of copper oxide
mineralization are exposed in moderate to strong sericite-hematite
altered volcanics and vary in size with one zone measuring 10m by
10m in size before disappearing under the overburden.
Sample BV-01-2012 was collected from a 20m by
20m zone of mixed limonite copper oxide mineralization hosted in
altered volcanics. The mineralization is associated with a
low chargeability response within the previously identified large
iron carbonate alteration zone.
Future Plans:
The correlation of the copper mineralization, the two large
chargeability signatures and strong positive magnetic signature
warrants additional exploration on the Buena Vista property.
The next phase of work for the Buena Vista project would include
trenching, mapping and detailed channel sampling to determine the
dimensions, morphology and average grade of the numerous zones of
copper mineralization exposed in outcrop.
East Breccia copper-molybdenum-silver
project:
Boxxer expects to receive the preliminary results of the airborne
electromagnetic and magnetic surveys completed over its East
Breccia copper-molybdenum-silver project in late December 2012 before the end of January.
Results of these surveys will be released after compilation and
interpretation of the results have been completed.
About Boxxer Gold Corp.
Boxxer is a Canadian junior resource company involved in the
exploration of the Boss and Buena Vista copper projects in the
state of Nevada, the DOK
copper-gold porphyry property in Northwest B.C. 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 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 additional
surface work on the Buena Vista project would extended the
dimensions of the know zones of copper mineralization or that
additional mineralization would be found. 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.