International Barytex Resources Ltd.

International Barytex Resources Ltd.

July 11, 2007 08:30 ET

International Barytex Resources Ltd. Announces 4.4% Copper Resource at the Shituru Copper Property

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 11, 2007) - INTERNATIONAL BARYTEX RESOURCES LTD. (TSX VENTURE:IBX) is pleased to announce a Mineral Resource estimate for the Shituru Copper Property located 1 kilometre outside of Likasi, Katanga Province in the Democratic Republic of Congo.

An Indicated Mineral Resource is estimated as 8 Million tonnes grading 4.4% Copper and 0.08% Cobalt contained within two zones of mineralization.

In addition to the Indicated Mineral Resource a further 2 Million tonnes of Inferred Mineral Resource has been estimated within four zones of mineralization. Mineralization in the U1 and U2 zones remains open at depth.

The Mineral Resource, categorized for each zone, and based on a 1% Copper cut-off grade, is tabulated below.

Indicated Inferred
Zone Tonnes %Cu %Co Tonnes %Cu %Co
(Mt) (Mt)
Lower 5.220 4.8 0.09 0.081 2.8 0.04
Upper 2.659 3.7 0.07 0.530 2.5 0.05
U1 - 0.077 3.2 0.07
U2 - 1.465 2.8 0.04
Total 7.879 4.4 0.08 2.153 2.7 0.04

This Mineral Resource estimate is based on 6400 metres (43 Holes) of drilling in the copper-oxide resource at Shituru. The estimate characterizes the Shituru Mineral Resource over a strike length of about 800 metres and to a depth of about 175 metres below surface.

The Inferred Mineral Resource is principally located at depth in the Lower Zone and Upper Zone. Limited drill data in the U1 and U2 zones, which are located above the Upper Zone, has resulted in their Inferred categorization.

The Mineral Resource estimate was prepared by SRK of Johannesburg with Mr. Victor Simposya acting as the Qualified Person under NI 43-101 for the estimate. SRK will also prepare a Technical Report per NI 43-101 in due course for filing by the company.

This Mineral Resource estimate will be used as the basis for a Preliminary Assessment being prepared for the company by Bateman Minerals & Metals of Johannesburg. It is anticipated the Preliminary Assessment will be completed during Q3 of this year.

As previously announced drilling has continued on the property to allow determination of a Mineral Reserve estimate in support of a Feasibility Study.

To date a total of 87 holes have been drilled, including the 43 represented by this Mineral Resource estimate. Results for this additional drilling will be disclosed as information becomes available.

President Leo King states, "We are pleased to be able to provide an initial tonnage and grade estimate for the Shituru deposit; this represents an important milestone for the project. We are excited about the potential of the property and are impressed by the copper grades at Shituru, particularly the higher grades near surface. We expect to have a technical and economic scoping level assessment of Shituru available in the near future when our Preliminary Assessment is completed by Bateman. In the meantime, we are continuing to drill down-dip extensions and to delineate near surface grades in support of estimating a Mineral Resource for a Feasibility Study.

The quality of the copper deposits in the Congo is again being recognized with work progressing on a number of projects and we are pleased to be part of that story."

On behalf of the Board of Directors


Leo King, President and Director

Some statements in this news release contain forward-looking information. These statements include, but are not limited to, statements with respect to the completion and timing of preliminary assessments. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Such factors include, among others, the ability to complete contemplated and the timing of Preliminary Assessments.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.

Contact Information

  • International Barytex Resources Ltd.
    Alf Hills
    (604) 688-9368
    International Barytex Resources Ltd.
    Ivan Bebek
    Manager, Investor Relations
    (604) 688-9368
    (604) 688-9336 (FAX)