SOURCE: BOXXER GOLD CORP.

June 30, 2014 06:30 ET

Drilling to Commence on Boxxer's DOK Property

CALGARY, AB--(Marketwired - June 30, 2014) - Boxxer Gold Corp. (PINKSHEETS: BXXRF) (TSX VENTURE: BXX) (the "Company", or "Boxxer") is pleased to announce that mobilization of all equipment and supplies as well as drill pad construction has been completed for the 2014 drilling program that is expected to commence in early July. The 2014 drilling program consists of approximately 2,000m of diamond drilling in three holes to test the two large areas of coincident mineralized and altered volcanic and intrusive rocks that exhibit positive chargeability and resistivity signatures. 

The drilling program is permitted and fully financed by our partner Continental Precious Minerals pursuant to an option agreement dated April 14, 2014. The drill contract has been awarded to Tahltan Drilling Corp.

Mr. Jason Riley, President of Boxxer, stated, "We are excited to be commencing the drilling program on the DOK project to test the two targets that have been developed over the past three years. The size of the targets combined with the mineralization, alteration, geophysical signatures, host rocks and exploration results indicate the presence of a porphyry copper system on the DOK project. With the drilling anticipated to commence in early July, we expect to get a better understanding of the distribution of the surface mineralization at depth."

DOK Property Highlights;
The geology, alteration, host rocks and style of mineralization on the DOK property exhibits many similarities with other known large alkalic porphyry copper-gold deposits located in northern British Columbia such as the Schaft Creek deposit held by Teck Resources Limited and Copper Fox Metals Inc.

Technical Highlights
The exploration results for the two targets to be tested in 2014 includes:

  • Widespread copper-gold-silver mineralization (with significant concentrations of molybdenite) hosted in volcanic rocks of the Stuhini Group as well as quartz monzonite, quartz diorite, and granodiorite intrusives; all of which exhibit strong potassic alteration,
  • The mineralization in outcrop coincide with two large, copper-gold-molybdenum-silver soil geochemical anomalies and broad positive chargeability and resistivity signatures,
  • The northwest drill target measures 2,000 metres long by 1,400 metres wide. The southeast drill target measures 1,500 metres long by 900 metres wide. The soil geochemical anomalies in both targets are open along strike. The metal concentrations within these targets range from 200 to 9,820 parts per million ("ppm") for copper; from 0.03g/t to 2.2 g/t gold; molybdenum from 14 to 135ppm and from 0.6g/t to 84.5g/t silver,
  • Numerous mineralized outcrops containing medium to high-grade copper-gold-silver mineralization along with significant (< 100ppm) concentrations of molybdenum occur outside of the two targets to be tested in 2014, and
  • Rock chip sampling completed within the northwest target during the early 1970s returned;
    a) 0.66% copper over 38 metres,
    b) 0.73% copper over 16 metres,
    c) 0.32% copper over 25 metres.

The two drill targets to be tested in 2014 and the 81 copper occurrences located to date on the property occur within a prominent northwest trending, two kms wide by 10 kms long structural feature identified by an airborne magnetometer survey in 2011. The significance of this structural feature is not known at this time.

Elmer B. Stewart, MSc. P. Geol., President 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.

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

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 proposed diamond 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. This forward-looking information reflects Boxxer's current beliefs and is based on information currently available to Boxxer and on assumptions Boxxer believes are reasonable. Known risk factors include, among others: the proposed diamond drilling program planned for the DOK project may be delayed or not completed at all; the proposed diamond drilling program may not intersect any mineralization or mineralization as favorable as suggested by the historical exploration; Boxxer may not be able to comply with its ongoing obligations regarding the DOK Property; fluctuations in copper prices and demand; currency exchange rates; conditions in the financial markets and the overall economy may continue to deteriorate; uncertainties relating to interpretation of the previous exploration results, the need to obtain additional financing and uncertainty of meeting anticipated program milestones; uncertainty as to timely availability of permits and other governmental approvals. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, levels of activity, performance or achievements of Boxxer to be materially different from those expressed or implied by such forward-looking information. Such risks and other factors may include, but are not limited to: general business, economic, competitive, political and social uncertainties; capital market conditions and market prices for securities and junior market securities; the actual results of Boxxer's business operations including its exploration operations; natural resource company market conditions and the market conditions of the natural resource industry in general; competition; changes in legislation, including environmental legislation, timing and availability of external financing on acceptable terms; and lack of qualified, skilled labour or loss of key individuals. A description of additional assumptions used to develop such forward-looking information and a description of additional 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. 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

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