Press release from CNW Group
Airborne surveys identifies numerous targets on East Breccia copper-molybdenum-silver property
Thursday, April 04, 2013
Airborne surveys identifies numerous targets on East Breccia copper-molybdenum-silver property06:00 EDT Thursday, April 04, 2013
CALGARY, April 4, 2013 /CNW/ - Boxxer Gold Corp. (TSXV: BXX) (OTC: BXXRF) ("Boxxer"or the"Company") is pleased to announce the results of two airborne surveys completed over the East Breccia project by Fugro Airborne Surveys. The East Breccia project is located in the Batchawana Greenstone Belt approximately 60 kilometres north of Sault Ste Marie, Ontario. The Batchawana Greenstone Belt is located adjacent to the Mid Continent Rift, a regional scale structural feature that hosts numerous base and precious metal mines in Canada and the United States. The surveys also covered the Tribag and Mountain Breccia mineral claims acquired by Boxxer in 2012.
The exploration target for the East Breccia project is Iron Oxide Copper Gold ("IOCG") style copper-molybdenum-silver hosted within explosive breccia pipes similar to that mined at the former Tribag copper mine. Boxxer controls approximately 11,300 acres of land surrounding the former Tribag copper mine. Preliminary interpretation of the data has yielded the following highlights.
a) The geophysical surveys has identified a 12 kilometer long by 6 kilometre wide area inside the East Breccia project within which all conductivity, magnetic and electromagnetic targets as well as all known mineralized breccias occur,
b) The surveys suggests that the 9 breccias clustered around the former Tribag mine (4 of which are held by Boxxer and 4 of which are partially held by Boxxer due to claim line locations) is related to a conductive positive magnetic signature, possibly a buried intrusive,
c) The electromagnetic survey has indicated 10 targets (4 of which coincide with areas of known copper mineralization) within Boxxer property, the largest of which measures 3.0 kilometres by 2.5 kilometres,
d) The magnetic survey has identified an interpreted intrusive that measures 3.0 kilometres by 3.0 kilometres that exhibits conductivity at several frequencies, the Mountain Breccia zone of copper-molybdenum mineralization is located on the flank of this interpreted intrusive, and
e) The combined surveys outlined an area of positive topography that is structurally bound and contains all the known mineralized zones and exploration targets outlined by the magnetic and electromagnetic surveys.
Boxxer's President and CEO, Elmer B. Stewart, explained; "The results of the recent surveys have not only outlined a large, well defined area that contains all known significant zones of mineralization and potential targets for future exploration; it has also changed our interpretation and significantly enhanced the exploration potential of this district. The East Breccia property is interpreted to be associated with the Mid Continent Rift, as suggested by the Batchawana Greenstone Belt. The combination of the large target area and its interpreted structural setting enhances the potential of the East Breccia property to host Iron Oxide Copper Gold mineralization."
The recent survey results strongly suggest that a detailed ground geophysical survey should be performed over the 12 kilometer long by 6 kilometre wide target area to located diamond drill targets. This proposed survey would in addition to locating possible new drill targets, better define the dimensions of known mineralized zones such as the East Breccia. The conductivity and magnetic signatures associated with the copper-molybdenum-silver mineralization in the East Breccia zone suggest that this zone could extend 500 metres further to the north and 700 metres to the southwest beyond its currently known boundaries.
About Boxxer Gold Corp.
Boxxer is a Canadian junior resource company involved in the exploration for large polymetallic copper deposits in North America. Boxxer's active projects include the Boss and Buena Vista copper projects in the state of Nevada, the DOK copper-gold porphyry property in Northwest B.C., 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, and 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 exploration will identify additional exploration targets or expand the dimensions of known zones of mineralization. There is no certainty and that additional exploration of the Properties would result in the discovery of additional mineralization or that the reported historical diamond drilling results can be verified. For any forward-looking information given, Management has assumed that a standard definitive agreement can be negotiated with the Vendors and 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 additional 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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