November 29, 2006 12:54 ET

Boxxer Announces Drilling Contract for Buena Vista

CALGARY, ALBERTA--(CCNMatthews - Nov. 29, 2006) - Boxxer Gold Corp. (TSX VENTURE:BXX) is pleased to announce that subsequent to a recent property visit to the Buena Vista IOCG property in Nevada with drilling contractor Marcus and Marcus Exploration Inc. of Coeur d'Lene, Idaho, a drilling contract has been signed which is scheduled to commence during the latter part of the first week of December. The Buena Vista program will initially consist of 3,000 feet of HQ size diamond drilling to test 5 targets the Company has identified from previous work done on the property (see news release of October 16, 2006). Weather permitting the program will continue until just prior to the Christmas break and then continue on just after the New Year. The Buena Vista property is located approximately 120 kms. east of Reno, Nevada, and Boxxer is earning an 80% interest in the property by spending US$1 million over a period of three years. The targets currently identified are generally described below.

Feeder Zone Drill Targets

The "Feeder Zone" is approximately 800 feet wide at surface and has been traced along 2,200 feet of strike length. This zone hosts at least twelve, fault-bounded massive, magnetite-hematite replacement bodies (up to 80 feet wide and 600 feet long). These bodies are commonly overprinted by variably oxidized, disseminated and fracture - controlled copper mineralization (malachite to locally oxidized chalcopyrite/bornite). Rock chip sampling in 2003 and 2006 of the massive magnetite-hematite replacement bodies and associated peripheral alteration has yielded grades ranging between 0.75% and 4.9% Cu. The Feeder Zone exhibits intense, structurally controlled chlorite-sericite-iron carbonate-albite alteration peripheral to the massive magnetite-hematite replacement bodies which is typical of IOCG mineralization. Two drill targets have been identified to be tested in the upcoming drill program.

Strata-bound Drill Targets

As previously announced (see news release dated September 7th, 2006), detailed mapping within the large (approximately 5,000 foot long by 1,000 foot wide) alteration zone located at least four stacked stratigraphic units (units labelled #1 to #4) composed of massive iron carbonate-albite-hematite alteration. These intense alteration units host at least ten showings and/or zones of copper mineralization (up to 50 feet long and 30 feet wide) as well as leached gossanous specular hematite replacement bodies (referred to as "leached caps). The stacked units have been folded and range from 50 to 400 feet in surface width with strike lengths that vary from 1,000 feet to over 2,500 feet. Three drill targets have been identified within this area for drill testing. The Copper Kettle mine workings will be tested where previous sampling of oxidized copper mineralization exposed in outcrop and in the shaft returned grades ranging from 2.1% to 7.5% Cu.

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FORWARD-LOOKING STATEMENTS: Except for statements of historical fact, all statements in this news release - including, without limitation, statements regarding production estimates and future plans and objectives of Boxxer - are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate; actual results and future events could differ materially from those anticipated in such statements.

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Contact Information

  • Boxxer Gold Corp.
    Colin Christensen
    (403) 264-4811
    (403) 503-0822 (FAX)
    Cavalcanti Hume Funfer Inc., Investor Relations
    Cathy Hume
    (416) 868-1079, Ext 23
    Cavalcanti Hume Funfer Inc., Investor Relations
    Jeanny So
    Broker Relations Specialist
    (416) 868-1079