Boxxer extends mineralized gold shear zone by 1.5 km at Gordon Lake gold project
Wed Mar 11, 6:30 AM
ca.news.finance.yahoo.com
CALGARY, March 11 /CNW/ - Boxxer Gold Corp.'s (TSXV - "BXX") today announced the results of the recently completed resistivity survey over the Syn zone gold prospect. The results show an extended shear zone open to the northeast, on its 100%-owned Gordon Lake gold project located approximately 110 km northeast of Yellowknife, NWT. The property covers 6,000 acres and is underlain by complexly folded, weakly metamorphosed turbidites of the Burwash Group, andesite and basalt volcanics and gabbroic intrusive dikes, suggestive of gold mineralization.
Highlights of the survey are:
- Similar geochemical structure as found in past producing Giant and
Consolidated Yellowknife mines at the Gordon Lake property;
- The resistivity anomaly is interpreted to reflect silicification
related to the gold mineralization in the Syn zone; and
- It is interpreted that the same shear zone that hosts the Union
and Main zones, also hosts the Syn zone and 14 other zones of gold
mineralization located approximately 1.5 km to the northeast.
Mr. Elmer Stewart, President and CEO of Boxxer stated, "The technical data from the Gordon Lake project clearly identifies an environment for shear hosted gold mineralization similar to the Consolidated Yellowknife and Giant mines which produced approximately 13 million ounces of gold over a 50-year mine life."
Exploration Models:
The table below demonstrates the similarities between the past-producing Giant and Yellowknife Consolidated mines and the Gordon Lake project, owned by Boxxer Gold.
-------------------------------------------------------------------------
Giant and Yellowknife Gordon Lake (17 zones
Consolidated Mines owned by Boxxer Gold)
-------------------------------------------------------------------------
Mineralization Cross cutting en enchelon bodies, steeply dipping at
70 degrees within sericite-quartz-carbonate altered
shear zones
-------------------------------------------------------------------------
Gold Mineralization Strong arsenic geochemical signature and a
signature pyrite-pyrrhotite-arsenopyrite-spalerite-galena-
chalcopyrite mineral association
-------------------------------------------------------------------------
Mineralized bodies Up to 150 m long Up to 140 m long
-------------------------------------------------------------------------
Width 1 m - 25 m width 1 m - 11 m width
-------------------------------------------------------------------------
Depth Maximum vertical dimension Minimum depth of 215 m
of 400 m (open at depth and
along strike)
-------------------------------------------------------------------------
Syn Zone Resistivity Survey:
This zone is located approximately 1.5 km southwest of the Union zone and contains individual quartz veins and quartz stockwork up to 100 m long and from 0.3 to 3.5 m wide, exposed intermittently over a distance of 400 m. A chip sample of a 40 m section of one of these veins returned 13 g/t gold over an average width of 17.5 m.
A resistivity survey was completed over a 250 m long portion of the Syn zone to locate the southern extension of the auriferous shear zone that hosts the other 16 zones of gold mineralization at the northern end of the project. The survey located two strong resistivity responses with a strike length of 100 m and a width of 40 m that are interpreted to be due to silicification related to gold mineralization. The resistivity anomaly is open to the northeast.
A brief description of the two zones of gold mineralization located approximately 1.5 km northeast of the Syn zone is provided below to give the reader some indication of the average grade and widths of the mineralized intervals from within the shear zone.
Union Zone:
This zone is 400 m south of the South Zone and consists of quartz veins and quartz stock work exposed in trenches over a length of 40 m and sampled over widths from 1 m to 4 m. The gold mineralization extends to the north and south under overburden and additional sampling is required to determine the actual width of the mineralized zone. The weighted average grades (using a 1.0 g/t cut-off) for selected channel samples are listed below.
--------------------------------------------------
Channel Sample Interval (m) Grade (g/t)
--------------------------------------------------
3 3.50 12.76
4 1.80 5.40
6 4.00 4.17
7 3.60 13.02
8 3.00 17.65
16 1.00 35.60
--------------------------------------------------
South Zone:
This zone is located 400 m north of the Union Zone. The No. 9 vein has been traced on surface for a distance of approximately 140 m. A sample from the north end of this zone returned 5.73 g/t gold over 1.0 m. Drilling intersected gold mineralization over a strike length 60 m to a depth of 215 m. The mineralization is open at depth and along strike. The weighted average grade (using a 1 g/t gold cut-off) of selected drill holes are set out below:
-------------------------------------------------------------------------
Hole No. From (metres) To (metres) Interval (metres) Gold grade (g/t)
-------------------------------------------------------------------------
88-41 12.30 17.10 4.80 34.10
88-62 46.10 53.50 7.40 19.40
88-64 80.70 83.80 3.10 14.10
88-69 109.50 116.70 7.20 21.00
88-72 140.90 143.05 2.15 5.10
88-80 240.00 246.45 6.45 11.30
VL9-05-06 44.70 50.75 6.05 9.20
VL9-05-07 44.70 46.38 1.68 7.10
VL9-05-08 58.30 61.02 2.72 19.72
-------------------------------------------------------------------------
(The information contained in the tables above have been made public
in previous news releases)
Diamond drill holes on the South zone labelled VL were drilled in 2005 and confirmed historical analytical results and continuity of the gold mineralization.
Future Plans:
The actual widths of the mineralized zones on the Gordon Lake project have not yet been defined. A systematic channel sampling program is proposed for May/June 2009, to determine the width of the known mineralized zones, along with prospecting, mapping and sampling of the surface trace of the auriferous shear zone between the Syn zone and the Union zone, and from the Main zone to the northeast. Contingent on results, diamond drilling is planned for early 2010.
Elmer B. Stewart, MSc. P. Geol., President of Boxxer, is the Corporation's Qualified Person pursuant to National Instrument No. 43-101, Standards for Disclosure for Mineral Projects, has reviewed the technical information disclosed in this news release.
About Boxxer Gold Corp.
Boxxer Gold is a Canadian junior resource company involved in the exploration of three copper-gold projects in the state of Nevada, and a shear hosted medium to high grade gold project located 110 km north of Yellowknife NWT, Canada.
Neither 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 Statements: This news release contains forward - looking information including but not limited to comments regarding the timing and content of upcoming work programs and geological interpretations. Forward - looking information includes disclosure regarding possible future events and therefore, involves inherent risks and uncertainties. For any forward looking information given, management has assumed that the analytical results it has received are reliable, and has applied geological interpretation methodologies which are consistent with industry standards. Although management has a reasonable basis for the conclusions drawn, actual results may differ materially from those currently anticipated in such statements. For such statements, we claim the safe harbour for future.
Contacts
on Boxxer please visit our website at www.boxxergold.com or contact: Boxxer Gold Corp.
Elmer B. Stewart
President & Chief Executive Officer
Telephone: (403) 264-4811
e-mail: elmerbstewart@hotmail.com
Boxxer Gold Corp.
Colin Christensen
Vice-President
Tel: (403) 264-4811
Fax: (403) 237-6292
e-mail: colin@boxxergold.com
CHF Investor Relations
Alison Tullis
Senior Account Manager
Tel: (416) 868-1079 ext. 233
Fax: (416) 868-6198
e-mail: alison@chfir.com |
