have some very interesting core in the lab Some “Smoke” South of Sheslay District
Boxxer Gold Corp. (BXX, TSX-V) & Continental Precious Metals Inc. (CZQ, TSX)
One thing’s for certain – Boxxer Gold (BXX, TSX-V) and Continental Precious Metals (CZQ, TSX) have some very interesting core in the lab from the first hole drilled at the DOK Property immediately south of the Sheslay District – specifically, 30 miles from Garibaldi Resources Corp.’s (GGI, TSX-V) Grizzly Property which is also about to be drilled for the first time…
It’s important to emphasize that visual analysis of drill core is a tricky business – it’s certainly not unusual for great-looking core to fail to translate into good assay results – but rather than wait for the numbers, BXX and CZQ released a detailed description Monday of mineralization observed in DOK-2014-01 over a total core length of 410 meters…BXX jumped from 3 cents to an intra-day high of 7 cents yesterday, while CZQ, which has an option to earn up to a 75% interest in DOK, surged from 42.5 cents to 75 cents…
The geology, alteration, host rocks and style of mineralization on the DOK property certainly exhibit many similarities with other known large alkalic porphyry Copper-Gold deposits in northwest B.C., but whether BXX and CZQ have something possibly significant in their hands remains to be seen…a second drill hole is in progress and is testing the same target about 400 along strike and 100 m to the west of the first hole…
Continental has the option to earn a 60% interest within four years by incurring total property expenditures of $2-million (U.S.) and making total cash payments of $200,000…upon CZQ earning a 60% interest, the company shall have the option to increase its interest in the DOK Property by an additional 15% to 75% by spending an additional $3-million (U.S.) within three years…
Boxxer President Jason Riley stated: “The reported visible Copper mineralization, and strong potassic and phyllic alteration from this drill hole is encouraging. These, combined with the large surface dimensions of the mineralization, alteration, geophysical signatures and historical exploration results, are encouraging and suggest the presence of a porphyry Copper system on the DOK project. The final assays for the samples from this drill hole will be required before any assessment of the significance of the reported mineralization in the drill hole can be completed.”
Boxxer, which has about 300 million shares outstanding, announced its intention yesterday to raise $250,000 through a 4-cent financing…we asked John to give us his technical perspective on BXX, and what’s interesting is that the stock has broken above a long-term downtrend line on high volume…a band of resistance exists between a nickel and 7 cents…this is certainly worth watching closely…results from the lab will dictate the next major move…