SOURCE: BOXXER GOLD CORP.

Boxxer Gold Corp.

October 16, 2014 09:00 ET

Boxxer Drills 0.46% Copper Equivalent at DOK

CALGARY, AB--(Marketwired - October 16, 2014) -

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Boxxer Gold Corp. (TSX VENTURE: BXX) (PINKSHEETS: BXXRF) (the "Company", or "Boxxer") is pleased to announce the analytical results for the diamond drilling program completed on the DOK copper-gold project located in northwest British Columbia. The DOK property is located between the Schaft Creek and Galore Creek copper deposits to the south and the active exploration currently underway north of the Stikine River. Continental Precious Minerals ("Continental") pursuant to an option agreement has the right to earn up to a 75% interest in the DOK Property if certain conditions are met (see Press Release on April 14, 2014). The 2014 diamond drilling program consisting of 2 holes totalling 834.9m has been completed. Highlights are:

Highlights:

  • Diamond drill hole (DDH) DOK-01-2014, returned three intervals of greater than 0.10% copper equivalent in potassic and phyllic altered andesite. The entire hole shows elevated concentrations of copper-gold-silver and molybdenum,
  • The lower 24.4 m of DDH DOK-01-2014 intersected 0.012% molybdenum as well as significant copper-gold-silver concentrations in hydrothermal breccia,
  • DDH DOK-2014-02 intersected three intervals averaging greater than 0.10% copper equivalent is in strongly potassic and phyllic altered andesite and quartz monzonite intrusive. This hole contains elevated concentration in copper-gold-silver,
  • The analytical results show a copper-gold-silver and a copper-gold-silver-molybdenum style of mineralization, and
  • The significant pyrite concentration in the drill hole combined with the analytical results, alteration, mineralogy and lithology suggest that the drilling may have intersected the outer edge of a hydrothermal porphyry copper-gold system.

The weighted average grade of the mineralized intervals in the two diamond drill holes are as follows:

                
DDH ID From (m) To (m) Interval (m) Copper (%) Gold (g/t) Silver (g/t) Molybdenum (%)  CuEq (%)
DOK-01-2014 6.1 410.0 403.9 0.04 0.03 0.40 0.001 0.07
including 129.5 312.4 182.9 0.07 0.04 0.60 trace 0.11
including 275.8 294.1 18.3 0.33 0.13 1.90 0.001 0.46
including 385.6 410.0 24.4 0.03 0.05 0.98 0.012 0.14
DOK-02-2014 33.5 384.1 350.6 0.05 0.04 0.50 trace 0.08
including 33.5 88.4 54.9 0.11 0.06 1.64 trace 0.18
including 125.0 185.9 60.9 0.07 0.05 0.46 trace 0.12
including 289.6 304.8 15.2 0.03 0.09 0.62 trace 0.11
         

The above core interval do not represent true width of the mineralization

Cu Eq calculations assumes 100% metal recoveries and metal prices of $US2.75/lb copper, $US1445/oz. gold, $US27.74/oz. silver and $US14.64/lb molybdenum.

Mr. Riley, President of Boxxer stated that: "The 2014 drilling program has demonstrated the presence of wide spread porphyry copper style mineralization at depth on the DOK property. The presence of elevated metal values throughout both holes combined with numerous higher grade intervals as well as two distinct phases of mineralization are interpreted to be very encouraging and warrant follow-up work. The data suggests that these holes may have been completed toward the outer edge of the porphyry system."

DDH DOK-01-2014 was designed to test a stronger portion of the chargeability signature. This hole intersected an 18.5m interval of higher grade copper-gold-silver mineralization within a broad interval of 0.11% CuEq. The lower interval in the hole yielded a 24.4m interval that returned 0.012% molybdenum as well as copper-gold-silver mineralization in a hydrothermal breccia. The interval in the hole between 6.1m and 129.5m returned variable metal values that ranged from 41 to 953 parts per million ("ppm") copper, 0.001 to 0.064g/t gold, 0.1 to 0.5 g/t silver and less than 1 to 11ppm molybdenum. The mineralization is not restricted to a specific lithology.

DDH DOK-02-2014 is located 400m along strike from DDH DOK-01-2014 to test a weaker portion of the chargeability signature. This hole intersected three broad intervals of copper-gold-silver mineralization. This hole contains no appreciable concentration of molybdenum. The interval from 289.6 to 304.8m returned a weighted average of 0.093g/t gold, 0.62g/t silver and 0.03% copper in hydrothermal breccia. The absence of molybdenum suggest that this hydrothermal breccia is different than that intersected in DDH DOK-01-2014. The mineralization in this hole occurs in several host rocks.

Diamond Drilling and Sampling Procedures:

The diamond drilling was completed using NQ core size. Overall core recovery was estimated to be greater than 97%. After cutting, one half of the core is collected for sample preparation and analysis and the other half is retained for future reference. Sample intervals were selected based on lithology changes/alteration intensity/estimated mineral content. The sample interval was maintained at 3.0m for the majority of the samples collected. Sample preparation was completed by ACME Analytical Laboratories Ltd ("ACME") located in Smithers, British Columbia and sample analyses were completed by ACME in Vancouver, British Columbia. Base metals were assayed using the ACME's standard sample preparation and ICP-ES finish. Lower detection limits are as follows: Cu >0.001%, Mo >0.001%, Silver values had a lower detection limit of 0.1g/t. Gold is assayed by fire assay - fusion of a 30-gram followed by ICP-ES finish; with a lower detection limit of 0.005 g/t. ACME has an 9001:2008 International Standard Organization rating.

Elmer B. Stewart, MSc. P. Geol., COO of Boxxer, is the Corporation'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.

About Boxxer Gold Corp.

Boxxer is a Canadian junior resource company involved in the exploration for large poly metallic copper deposits in North America. Boxxer's active projects include the Boss and Buena Vista copper projects in the state of Nevada, the Empire copper-gold-silver property in Idaho, the DOK copper-gold 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.

Neither the 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 Information: 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. In particular, this news release contains forward-looking information regarding: the observations made on drill core from the diamond drilling program and the analytical results from samples collected during the recently completed drilling program on the DOK project. There can be no assurance that such forward-looking information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such forward-looking information. In the forward looking information contained in this news release, Boxxer has made numerous assumptions, based upon practices and methodologies which are consistent with the mineral industry. While, Boxxer considers these assumptions to be reasonable, these assumptions are inherently subject to significant uncertainties and contingencies. Additionally, there are known and unknown risk factors which could cause Boxxer's observations, actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information contained herein. Known risk factors include, among others: uncertainties relating to interpretation of drill results and the geology; continuity and grade of mineralization; and uncertainty as to the availability and terms of future financing; uncertainty as to timely availability of permits and other governmental approvals; Boxxer may not be able to comply with its ongoing obligations regarding the DOK Property;

A description of additional assumptions and risk factors used to develop such forward-looking information 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. Although Boxxer has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking information. Boxxer does not undertake to update any forward-looking information except in accordance with applicable securities laws.

Contact Information

  • For more information on Boxxer please visit our website at www.boxxergold.com or contact Boxxer Gold Corp.

    Jason Riley
    President and Chief Executive Officer 
    403-264-4811
    Email: jason@boxxergold.com