Calgary , Alberta CANADA, August 12, 2010 /FSC/ – Boxxer Gold Corp. (TSX – VX: BXX), (“Boxxer” or the “Corporation”) is pleased to provide an update on the exploration activities on the Boss project and the proposed exploration program for its Buena Vista copper project.
The Bureau of Land Management (BLM) has approved the Reclamation Bond set out in the Notice to Conduct Mineral Exploration (the Notice) filed by Boxxer. The formal approval for the Notice is expected shortly, after which the proposed 8,000 metre (m) diamond drilling program is expected to commence.
Boxxer is also pleased to report that Quantec Geosciences Ltd. has commenced the previously announced Titan-24 DCIP and MT survey over a portion of the Boss property around the former Rose copper mine.
Buena Vista Project:
The main objective of the 2010 exploration program for the 3,100 acre Buena Vista (Boxxer holds an 80% interest) copper project located in north-central Nevada is to demonstrate the continuity of mineralization between the 57 zones of copper mineralization located to date. Previous work on the property has revealed the following results, which have been disclosed in previous news releases:
Buena Vista Highlights:
– 57 zones of mineralization with values ranging from 0.3% to 22% copper occur within a 4,000 m by 1,000 m altered zone; – Mining of high-grade copper-silver-gold mineralization from the Copper Kettle mine located on the property occurred between 1908 and 1929; and – Small tonnage, high-grade magnetite deposits were mined in the 1940’s.
Boxxer’s President and CEO, Elmer B. Stewart, explained, “Independent third parties have located a substantial number of mineral claims on the north and south side of the Boss project over the past two months. I am confident our land position is centrally located and has the best potential to host significant copper porphyry mineralization similar to Bingham Canyon. Our 2010 program on Buena Vista is focused on systematic sampling to establish the continuity of the mineralization between the 57 zones of copper mineralization. We believe the Buena Vista project hosts a large mineralized system located at the upper level of an Iron Oxide Copper-Gold (“IOCG”) mineral deposit; supported by the mineral alterations, the large number of zones of copper mineralization, and the high copper concentrations in the sampling completed to date.”
The Jurassic – Early Cretaceous – age IOCG deposits located in the Coastal Cordillera Belt of northern Chile and southern Peru (e.g. Mantos Blancos, Candelaria -Punta del Corbe district) are the exploration model being used to explore the Buena Vista project.
Previous Sampling Results:
Two very different styles of IOCG copper mineralization have been located to date. The copper mineralization associated with the magnetite-hematite bodies represents the lower portion of an IOCG deposit and the copper mineralization associated with the iron carbonate-albite-hematite alteration represents the upper portion of an IOCG deposit.
Twelve, fault-bounded massive, magnetite-hematite replacement bodies (up to 30 m wide and 200 m long) contain disseminated and fracture-controlled copper mineralization (ranging from malachite to oxidized chalcopyrite/bornite). Selected samples of these zones returned copper values ranging between 0.75% and 4.90%.
Copper mineralization (up to 55 m long and 30 m wide) also occurs within three mineralized massive iron carbonate-albite-hematite altered units that range from 16 m to 150 m in width and vary from 350 m to over 800 m in length. This style of alteration is typical of the upper portion of an IOCG deposit. Some of the sampling results (grab samples and short chip samples) from these units are listed below:
Unit #1: hosts several zones where copper mineralization has been leached resulting in what is referred to as a “leach cap”. The largest leached cap is approximately 100 m long and 25 m wide with residual copper concentrations up to 1,400 ppm.
Unit #2: hosts the former Copper Kettle mine where select and grab sampling returned concentrations ranging from 2.1% to 7.5% copper.
Unit #3: contains large areas of copper mineralization consisting of oxide and fine-grained, disseminated chalcopyrite, bornite and locally massive chalcocite from which select samples have yielded up to a maximum of 15.6% copper and 0.82 g/t gold. The largest mineralized zone in this Unit is approximately 55 m long and 30 m wide and located 50 m northeast from and 12 m topographically above significant copper mineralization exposed in outcrop.
Two untested chargeability anomalies have been identified. The first anomaly is at least 1,000 m long and 400 m wide. On surface two zones of bornite and/or chalcopyrite mineralization occur in an iron carbonate-albite-hematite altered unit from which a grab sample returned 3.79% copper, 20.9 g/t silver and 10.0 g/t gold.
The second anomaly coincides with a 300 m long zone of chalcopyrite mineralization exposed in bedrock that yielded a weighted average of 0.35% copper and 0.122 over a 4.0 m interval.
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-gold 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
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 the proposed exploration program on the Buena Vista project will identify targets or be able to demonstrate the continuity of the Copper mineralization between the larger zones of mineralization, the actual results and future events could differ materially from those anticipated in this news release. There can be no assurance that the geophysical anomalies set out in this news release are mineralized. There can be no assurance that the geophysical surveys on the Boss project will identify any anomalies. For any forward-looking information given, Management has assumed that the time frame provided to completed surveys and other activities may vary significantly from actual completion of the proposed work programs. Management assumed that the results it receives from its independent contractors and the interpretation thereof are reliable, and 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 harbor 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
Maximum News Dissemination by Filing Services Canada Inc. *