FSC / Press Release
Calgary , Alberta CANADA, October 13, 2010 /FSC/ – Boxxer Gold Corp. (BXX – TSX Venture, BXXRF – OTCBB_Pink_Sheets), is extremely pleased to announce that drilling has started on its planned 8,000 metre (m) diamond drilling program and the results from the second Quantec DCIP & MT Survey (Quantec) at the 100% owned Boss property in the Goodsprings Mining District in southern Nevada. It is anticipated that the total drilling program will be completed over a 4-6 month period and is projected to include the new targets outlined by the second Quantec survey around the Rose Mine (former copper producer) area of the Boss property.
Highlights on the Boss Property
* 8,000 m diamond drill program has started on the first of 12 targets on high-priority target BE#1;
* Quantec survey over the Rose Mine:
o DCIP & MT survey extends target BE#1 by 400 m to the west and 800 m to the east and remains open along strike; this IP target exhibits strong chargeability and low resistivity;
o New target BE#4 outlined over a strike length of approximately 1,500 m; a strong chargeability and strong resistivity target located approximately 1,000 m east of Target BE#1;
o New target BE#5 identified as a wide target exhibiting strong chargeability and low resistivity coinciding with a major north south structural zone and the copper-gold skarn around the former Rose mine; and,
* New staking has added 14 new mineral claims to cover the eastern extension of target BE#4.
“The Quantec surveys around the Rose Mine area have identified three very large distinct chargeability/resistivity targets,” commented Elmer B. Stewart, President and CEO of Boxxer Gold Corp. “The targets outlined to date show a strong correlation with either interpreted intrusive rocks or copper-gold skarn mapped in outcrop. The chargeability anomaly associated with the copper-gold skarn around the former Rose Mine is very significant due to its structural setting and the molybdenum content of the skarn. The large zones of chargeability/resistivity associated with intrusive rocks, the copper-gold skarn and an interpreted extensional structural environment are consistent with, and supportive of the porphyry copper model being used by Boxxer to explore the Goodsprings Mining District.”
Please see Figure 1 (http://www.usetdas.com/maps/boxxer/figure1.pdf) for the updated Boss property map showing the newly staked land and updated targets. Figure 2 shows the 3D pseudo-sections determined by the combined DC/IP surveys from Quantec (http://www.usetdas.com/maps/boxxer/figure2.pdf).
The entire drilling program, which is targeted for completion around the end of Q1 2011, is to comprise 12 holes, as well as the newly outlined targets, over a total of 8,000 m. Boxxer will begin the diamond drilling program testing target BE#1 with two 600 m vertical holes within an interpreted dimension of 2,700 m x 700 m x 400 m (length x width x projected depth). The purpose of BE#1 is to test a strong geophysical anomaly which coincides with an identified zone of “conductivity at depth” and “positive magnetic features” (see News Release dated April 15, 2010). The top of this target is expected to occur approximately 75 m below surface.
Drill testing of target BE#2 will consist of four vertical holes each 500 m deep within interpreted dimensions of 2,400 m x 800 m x 500 m. Lastly, on target BE #3, two diamond drill holes to a depth of 600 m over the interpreted dimension of 1,600 m x 500 m x 1000 m will be tested.
Quantec Geophysical Survey:
Five lines were completed to the east of the previously completed Quantec DCIP & MT survey around the copper-gold skarn of the Rose Mine, and a substantial portion of the regional scale deformation zone that crosses the Boss Project. The lines varied in length and were spaced 600 m apart. Figure 1 & 2 shows the compilation of the two Quantec surveys and interpretation thereof. The outlined targets are detailed below.
Target BE#1 Extension
Together, the Quantec surveys identified two distinct large chargeability anomalies and extended the previously identified target BE#1 by approximately 400 m to the west and 800 m to the east (see press release dated April 15, 2010). This anomaly exhibits a positive chargeability response and corresponding low resistivity associated with an interpreted intrusive; such a response is typical of porphyry style copper mineralization. The target remains open to the east and to the west. Diamond drill testing of this target is underway as described above.
2nd Target (Target BE#4):
This target exhibits a strong chargeability/resistivity signature typical of mineralized skarn. This anomaly has been traced over a strike length of approximately 1,500 m and lies to the east of BE#1. To the west, the anomaly is open along strike and is interpreted to be truncated by a major north-south trending extensional fault zone. The MT data suggest that the chargeability/resistivity anomaly is associated with intrusive rocks that occur within the north-south trending fault zone.
3rd Target (Target BE#5):
This target exhibits a strong chargeability/resistivity signature typical of mineralized skarn. The anomaly crosses a series of north trending faults and quartz diorite/ultramafic dikes that occur in an extensional tectonic regime based on the results of the airborne magnetic survey. BE#5 extends from the copper-gold skarn located by the former Rose Mine a distance of 2,600 m to the west and remains open along strike. The chargeability/resistivity target is interpreted to be the extension of the copper-gold skarn exposed on surface in the Boss Extension. Towards the western end of this anomaly, the MT data suggests the presence of intrusive rocks.
Boxxer has located an additional 14 mineral claims to cover the eastern extension of the Target BE#4 (Figure 1). This brings Boxxer’s total land holdings on the Boss project to approximately 14,000 acres.
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, and 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.
Elmer B. Stewart
President & Chief Executive Officer
Boxxer Gold Corp
John L. Maslanyk
Vice President & Chief Information Officer
Toll Free: 1-888-479-3696
CHF Investor Relations
Senior Account Manager
Tel: 1-416-868-1079 ext. 233
Torrey Hills Capital
Senior Account Manager
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 commence when indicated. 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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