Boxxer summarizes 2011-2012 drill results on Boss copper-gold project and outlines future exploration plans
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:
| 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 | ||||
| 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, | ||||
| c) | The skarn mineralogy, copper-gold-silver+/- molybdenum mineralization and thick metasomatic skarn suggests proximity to a mineralized intrusive source, | ||||
| 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 | ||||
| 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".
| 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 |
| including | 20.3 | 35.6 | 15.3 | 0.53 | 0.03 | 5.81 | 0.59 | ||
| 191.7* | 210.8 | 19.1 | 0.11 | 0.66 | 2.50 | 0.80 | |||
| 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 |
| including | 14.8 | 22.7 | 7.9 | 0.26 | 0.08 | 5.70 | 0.39 | ||
| 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 |
| 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 |
| 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.
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