PBX Acquires Claims West of its Copaquire
Copper - Molybdenum - Rhenium Project
VANCOUVER, B.C. ? International PBX Ventures Ltd. (the "Company") (TSX.V:PBX) is pleased to announce that it has acquired an additional 2,100 hectares (21 sq.kms) in the prolific Chilean copper-molybdenum porphyry belt. The Huatacondo claims are located 8kms west of the Company?s wholly-owned Copaquire Copper-Molybdenum-Rhenium property.
Both the Huatacondo and Copaquire claims are located in the Quebrada Blanca district of the copper-moly porphyry belt. In some districts of the porphyry belt, there is more than one deposit, thus defining a cluster. The Quebrada Blanca cluster consists of four copper-moly deposits: Teck Resources? Quebrada Blanca, Xstrata/Anglo American?s Collahuasi Ujina and Collahuassi Rosario and PBX?s Copaquire (? The Geology of Chile? Published by The Geological Society of London). The copper-moly deposits in this cluster are distributed transversely (E-W) to the Domeyko fault. The Huatacondo claims are situated in this East-West trend.
George Sookochoff, President and CEO, said that ?While the Huatacondo claims are early stage, we believe they represent quality exploration targets at low entry costs in a region known to host numerous copper-moly porphyries.?
PBX recently completed a positive independent Preliminary Assessment (PA) on the Copaquire project. The National Instrument 43-101 ("NI 43-101") compliant study completed by AMEC International (Chile) S.A ("AMEC") suggests a mine capable of producing approximately 785.4 million lbs of copper and 166.4 million lbs of molybdenum over a 24-year mine life at an operating cost of $7.15 US$/t.
ON BEHALF OF THE BOARD OF DIRECTORS OF
INTERNATIONAL PBX VENTURES LTD.
?George Sookochoff?
George Sookochoff, President & CEO
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International PBX Ventures, Ltd.
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EXPLORATION STAGE |
CODE : PBX.V |
ISIN : CA4599591027 |
CUSIP : 459959 102 |
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Intl. PBX Ventures is a copper exploration company based in Canada. Intl. PBX Ventures holds various exploration projects in Canada and in Chile. Its main exploration properties are HORNITOS, TABACO, LAS LOMITAS CHILE, SIERRA PINTADA PROPERTY, PALO NEGRO - HORNITOS, TIERRA DE ORO, COPAQUIRE, SAN JV and ZULEMA in Chile and CROSS LAKE in Canada. Intl. PBX Ventures is listed in Canada, in Germany and in United States of America. Its market capitalisation is CA$ 7.1 millions as of today (US$ 5.2 millions, € 4.9 millions). Its stock quote reached its lowest recent point on August 12, 2015 at CA$ 0.01, and its highest recent level on March 12, 2021 at CA$ 1.49. Intl. PBX Ventures has 157 699 000 shares outstanding. |