CALGARY,
Dec. 2, 2013 /CNW/ - Boxxer Gold
Corp. (TSXV: BXX) (OTC Other: BXXRF) ("Boxxer or the
Company") is pleased to provide an update of corporate
activities including additional land acquisition and management
changes.
Boxxer Acquires Additional Mineral Claims
near DOK Property
Boxxer has acquired one mineral tenure adjacent to its existing
claim group totalling 330.16 hectares from two private
landowners. Consideration paid by Boxxer was $6,000 cash (split $1,500 on signing and $4,500 due on November 6,
2014) and a 1% net smelter return (NSR) royalty on the
mineral claims subject to a "Partial NSR Buyout Option". The
Partial NSR Buyout Option allows Boxxer at any time to purchase
half of the NSR for a cash payment of $0.5
million such that the NSR is reduced from 1% to 0.5%.
Rationale for the Mineral Tenure
Acquisitions:
The mineral claim covers a portion of a large gossan located
southeast of the DOK property. Two mineral showings are reported to
occur (British Columbia Min file 104G 129) within this mineral
tenure. The north showing is reported to contain copper
staining in outcrop with no assays reported. The south
showing is reported to consist of veinlets in green sandstone and
dark grey siltstone of the Upper Triassic Stuhini Group at the head
of Strata Creek. Approximately twenty discontinuous north-northeast
striking, steeply-dipping veinlets from one to four centimetres in
width occur across about five metres in outcrop. The veinlets are
reported to contain blebby chalcopyrite, pyrite, and galena in a
gangue of quartz and/or carbonate. Centimetre- scale rusty
alteration selvages are present but alteration mineralogy was not
noted. Two grab samples were taken from the veinlets, the best
assay being 136,390 parts per billion gold (136.39g/t gold), 19.0
parts per million silver, and 0.29 per cent copper.
The DOK Property:
The DOK property, situated in NW BC, is a drill-ready stage project
consisting of 10,674 hectares (26,365 acres) The combination
of Titan-24 results, airborne magnetic data, geology, alteration
and copper-molybdenum-gold-silver mineralization exposed in
potassic altered volcanics and intrusive rocks bedrock has
identified two large porphyry style targets.
Highlights of the historical exploration results
(see news release dated May 26, 2011)
for the DOK property are:
a) |
|
|
81 areas of copper mineralization
have been located on the property; the majority of these occur
within the two large polymetallic copper-molybdenum-gold-silver in
soil geochemical anomalies, |
|
b) |
|
|
The copper-gold-molybdenum-silver in
soil geochemical anomalies occur over a five kilometre strike
length. The Northwest zone measures 2,000 metres long
by up to 1,400 metres wide. The Southeast zone
measures 1,500 metres long and up to 900 metres wide. Both
anomalies are open along strike, |
|
|
|
|
c) |
|
|
Copper concentrations within both
soil geochemical anomalies range from 200 to 9,820 parts per
million ("ppm") as well as 0.03g/t to 2.2 g/t gold; 14 to 135ppm
molybdenum; and 0.6g/t to 84.5g/t silver, and |
|
|
|
|
d) |
|
|
Chip samples of mineralized bedrock
within the Northwest zone returned 0.66% copper over 38 metres,
0.73% copper over 16 metres, and 0.32% copper over 25 metres. |
The highlights of the Titan-24 surveys (see news
release dated October 1, 2012)
are:
a) |
|
|
The strong chargeability anomaly associated with the Northwest
zone has a minimum strike length of 800m strike length and a width
of up to 1200m that coincides with mineralized, potassic altered
intrusive rock and Stuhini volcanic rocks from which historical
continuous chip sampling of outcrop includes 0.66% copper over
38m,. The chargeability anomaly is open along strike in both
directions, and |
|
|
|
|
b) |
|
|
The strong chargeability/conductivity anomaly associated with
the Southeast zone has a minimum 600m strike length and a width of
up to 900m. The chargeability anomaly is open along strike in both
directions and shows a strong correlation with potassic altered
intrusive rock and Stuhini volcanic rocks. Historical sample
results include 5.16 g/t gold (grab sample), 6.7% copper, 65.4 g/t
silver and 0.2 g/t gold over a 3 m chip sample and 12.5% copper
over a 0.5 m long chip sample occur with the chargeability anomaly
within the copper-gold-molybdenum-silver soil anomaly. |
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.
Management Changes:
Mr. John Maslanyk, Vice President
and Chief Information Officer, has resigned as an officer of Boxxer
effective November 21, 2013 in order
to pursue other opportunities. Mr. Maslanyk has been involved with
the Corporation since 2009, and the Company would like to take this
opportunity to express their thanks to Mr. Maslanyk for his many
contributions.
Mr. Elmer
Stewart, President of Boxxer stated "We would like to thank
John for his efforts on behalf of Boxxer over the past few years
and wish him success in his future endeavors. Boxxer has purchased
the additional mineral tenure to provide additional coverage of the
interpreted extension of the DOK property mineral trend and its
associated positive magnetic features".
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 Empire
copper-gold-silver project in Idaho, the DOK copper-molybdenum-gold-silver
porphyry property in Northwest B.C. and the East Breccia
copper-silver-molybdenum property in Ontario. Boxxer also has the Gordon Lake
gold project located 110 kilometres north of Yellowknife NWT,
Canada.
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 DOK project would extend the dimensions of the
known zones of copper-gold-silver 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.