October 23, 2007
Calgary, Alberta - Boxxer Gold Corp. (TSXV-“BXX”) today announced that a seven-hole (2,000 feet) diamond drilling program is planned to test the down-dip extension of the high-grade copper mineralization recently announced (see news release dated September 19, 2007) on its Boyer Ranch Project located approximately 120 miles east of Reno, Nevada. The drilling program is expected to commence before the end of October 2007. Two strata-bound zones of iron-oxide-copper-gold (IOCG)-style copper mineralization were trenched in August. Highlights of the trenching program were as follows:
Highlights:
- The copper mineralization in the Upper Zone is at least 200 feet long and is open along strike and down-dip. The mineralized zone is estimated to have a true thickness of 10 feet where exposed. This zone averages 1.63% copper and 5.49 ppm silver with a maximum copper grade of 5.68% over three feet in Trench # 3.
- High-grade (7.01% copper over an interval of 15 feet) copper mineralization has been exposed over a horizontal distance of 200 feet in the Lower Zone which is located approximately 850 feet south of the Upper Zone. Where exposed by trenching, this zone has a weighted average grade of 3.53% copper and 10 ppm silver over a minimum estimated true thickness of 13 feet.
Subsequent to completion of the trenching program, a geophysical program consisting of mise-a-la-masse /point source IP and surface IP/resistivity, total field magnetometer and VLF –EM surveys were completed in an attempt to trace the down dip extension of the Upper and Lower zones of copper–silver mineralization. The mise-a-la-masse survey identified at least three, partially defined IP anomalies (see Figure-1); two of which are associated with the Upper and Lower zones of copper-silver mineralization. Highlights of the IP/Resistivity survey are as below.
Anomaly #1:
A low to moderate (6 - 8.97ms), linear-shaped, north trending IP anomaly that measures 300 feet wide and 850 feet long has been located on the down-dip side of the Upper zone of copper-silver mineralization. The anomaly extends to the north and may represent the down-dip extension of mixed sulfide-oxide copper mineralization exposed in surface pits and trenches. The IP anomaly is partially coincident at its south end with a magnetic low which may represent intense chlorite-albite-hematite alteration associated with sulfide mineralization. The geophysical survey results suggest the IP anomaly may not be continuous from north to south.
Anomaly # 2:
The down-dip extent of the Lower Zone of copper-silver mineralization does not exhibit an IP anomaly. This was expected due to the intense copper oxide mineralization found in outcrop and surface trenches. However, a low (~ 5ms), wide (at least 900 feet) irregular-shaped IP anomaly is partially defined further down dip (to the northeast) and along strike to the northeast of the zone suggesting disseminated sulfides may be present at depth in that direction.
Anomaly # 3:
IP data suggests the Lower Zone of copper-silver mineralization likely extends along strike to the northwest where a low to moderate (6 – 9.86ms), linear-shaped chargeability anomaly has been defined.
Although the geophysical data is incomplete in this area, the anomaly may be as much as 150 to 300 feet wide, at least 750 long and open to the northwest. The presence of a significant chargeability anomaly in this direction suggests an increase in sulfides at depth along strike where part or all of the oxidized portion of the zone may have been partially eroded. This area is covered by 150 to 350 feet of Tertiary cover.
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.
About Boxxer Gold Corp.
Boxxer Gold is a Canadian junior resource company involved in the exploration of copper-gold porphyry and Iron-Oxide-Copper-Gold projects in the state of Nevada. Boxxer recently acquired an option to purchase 65% of the Nalesbitan Hill gold and porphyry copper project in the Philippines.
For further information please contact:
Colin Christensen, President, Boxxer Gold Corp.
Telephone: (403) 264-4811
Fax: (403) 503-0822
Email: colin@boxxergold.com
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FORWARD-LOOKING STATEMENTS: Except for statements of historical fact, all statements in this news release – including, without limitation, statements regarding resource estimates, reserve estimates, 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. |
