December 14, 2006 11:24 ET

Boxxer Commences Drilling at Buena Vista

CALGARY, ALBERTA--(CCNMatthews - Dec. 14, 2006) - Boxxer Gold Corp. (TSX VENTURE:BXX) today announced the commencement of a 3,000 foot, HQ core size diamond drilling program to test the copper-gold potential of the 3,300 acre Buena Vista IOCG property, located approximately 120 kms east of Reno, Nevada. The program is designed to test both the "feeder zone" and "strata-bound" targets, outlined in more detail in the November 29, 2006 news release. Boxxer is earning an 80% interest in the property by spending US$1,000,000 on exploration over a three year period. It is estimated that the drill program will take about five weeks to complete, and that drilling will be temporarily suspended during the Christmas/New Years period.

IOCG Project Data Acquisition

Boxxer is pleased to announce that it has acquired certain proprietary technical data from USXploration Inc. of Elko, Nevada. The acquisition includes an IOCG (iron-oxide-copper-gold) project compilation package which includes a database that was prepared over a six month period, and covers an area of approximately 300 square miles in north central Nevada. This area is considered highly prospective for the occurrence of IOCG style of mineralization in this region of Nevada. The compilation in the data package includes:

1) Land status data (private and federal lands; unpatented claim distribution)

2) Geologic data (stratigraphy, structure, alteration, mineralization); includes reconnaissance mapping/prospecting by USXploration.

3) Topographic and DEM data used in a structural analysis of the area.

4) Acquisition of and processing of detailed private airborne magnetic data sets by USXploration.

5) Data processing of these all these data into a GIS format.

Subject to regulatory approval Boxxer is proposing to complete this acquisition by issuing 600,000 common shares of Boxxer to USXploration Inc. Ted Dematties, an independent geologist consulting to Boxxer, is also a principal in USXploration Inc.

Lavinia Property Acquisition

Boxxer has staked 50 lode claims referred to as the Lavinia property, located within the Goodsprings Mining District in Clark County, Nevada. This property is located approximately 10 kms. due east of Boxxer's Boss property and is within the regional geological setting which hosts the same porphyry style of mineralization currently being explored on the company's 100% controlled Boss property. Results of preliminary chip channel sampling of the altered porphyry are listed below:

Sample # Interval (ft) Copper (ppm) Gold (ppm) Silver (ppm)
40630 4 506 1.34 16.5
40631 4 555 0.441 3.3
40632 4 30 0.007 0.2
40633 5 202 0.019 0.3
40634 4 1595 0.532 6.8
40635 4 1075 0.088 3.1

The size of the exposed porphyry is 800 meters x 300 meters and is considered to be a target for porphyry style copper-gold mineralization. A detailed soil geochemical program (306 soil samples) and magnetic survey covering the exposed porphyry and its possible buried extensions has been completed. Analytical results of the soil sampling are expected in early January 2007.

Mr. Theodore A. DeMatties is an independent geologist consulting to Boxxer and is the Qualified Person who has reviewed and verified the technical information detailed in this release.

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FORWARD-LOOKING STATEMENTS: Except for statements of historical fact, all statements in this news release - including, without limitation, statements regarding future production estimates, potential targets, exploration results, 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.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Boxxer Gold Corp.
    Colin Christensen
    (403) 264-4811
    (403) 503-0822 (FAX)
    CHF Investor Relations
    Jeanny So
    Broker Relations Specialist
    (416) 868-1079 Ext 225