Boxxer Gold Corp. (TSX-V: BXX, OTC Other: BXXRF), announced today that subject to regulatory approval, the Company has executed an option agreement whereby it has the right to earn a 100% working interest in the East Breccia copper-molybdenum-silver exploration property located in south-central Ontario, subject to a 3% Net Smelter Return (“NSR) held by the Optionors of the property.
The East Breccia property is located in the Sault Ste. Marie Mining Division in south-central Ontario, approximately 65 kilometres north of Sault Ste. Marie, Ontario and consists of 11 contiguous mineral claims covering approximately 4,300 acres.
* The reported copper-molybdenum-silver mineralization is hosted in the East Breccia and the south half of the West Breccia, located near the former Tribag Copper Mine site,
* A total of 55 drill holes have been completed in the East Breccia, where historical drill hole intersections of 0.25% copper, 0.042% MoS2 and 7.2 g/t silver over 142.4m*, and 0.31% copper, 0.038% MoS2, and 4.8 g/t silver over 143.2m* being reported,
* The East Breccia has a surface dimension of approximately 550m by 700m and has been explored to a depth of 750m below surface, and
* The West Breccia has a surface dimension of 200m by 650 m and has been explored to a depth of 850m.
Commenting in the release, Boxxer Gold’s Vice President of Corporate Development, Colin Christensen stated: “In our assessment of current global commodity fundamentals, Boxxer is continuing to implement its strategy of assembling a selective portfolio of high quality, copper exploration properties with the potential to host large poly-metallic deposits. The optioning of the East Breccia property, along with the recent acquisition of the DOK property in northwest British Columbia, in conjunction with the Company’s Boss property in southern Nevada, we feel we have positioned ourselves with projects that have world class mineral potential, and Boxxer intends to be very active with exploration on all three properties in 2011.”