Tierra de Oro Project Update
(Vancouver) � International PBX Ventures Ltd. (TSX.V - PBX) announced
today the results of the Tierra de Oro drill program.
The 7,000 metre shallow reconnaissance reverse circulation drill program
tested a series of criss-crossing major structural gold-mineralized shears as
evidenced by extensive artisanal pits and surface sampling.
The drill results were
inconclusive in that they failed to corroborate the gold values obtained by
surface sampling programmes. However areas of significant silver - copper
mineralization hosted in shears and mantos within the volcanics were
identified which justify additional work. Highlights include RC56, which
intersected 40 metres of 16 g/t silver including 13 metres of 40 g/t silver.
RC58 intersected 40 metres of 8.2 g/t silver.
The Chanchero area continues to be of interest in that the shallow
drilling carried out to date did not test the potential of the porphyry. The
drilling did not test beneath the leached zone to cut the large 3D IP anomaly
identified in the 2007 3D IP survey. Gold and base metal mineralization which
is zoned peripheral to the porphyry is suggestive that this system may be mineralized.
International PBX Ventures is a Canadian junior mining and exploration
company focused on acquisition and development of molybdenum, copper and gold
properties in Chile. PBX�s flagship property is the Copaquire
Molydenum-Copper deposit located in northern Chile adjacent to Teck Cominco�s
Quebrada Blanca property. PBX's shares trade on the TSX Venture Exchange
under the symbol PBX.
This news release has been reviewed by G. Medford, a qualified person
under NI43-101, and director of the company.
ON BEHALF OF THE BOARD OF DIRECTORS OF
INTERNATIONAL PBX VENTURES LTD.
George Sookochoff, President & CEO
The TSX Venture Exchange does not accept
responsibility for the accuracy or adequacy of this news release.
The company relies on �forward- looking� statement litigation protection.
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