International Barytex Resources Ltd.
TSX VENTURE : IBX

International Barytex Resources Ltd.

April 20, 2007 12:56 ET

International Barytex Resources Ltd. Announces Further Drill Results at the Shituru Copper-Cobalt Property

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - April 20, 2007) -

NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRES.

INTERNATIONAL BARYTEX RESOURCES LTD. ("the Company") (TSX VENTURE:IBX) is pleased to announce assay results of a further 10 diamond drill-holes completed as part of its Phase 2 drill program at the Shituru Copper-Cobalt deposit located near the town of Likasi in the Democratic Republic of Congo (DRC).

The results are tabulated below; these drill holes have targeted mineralization along strike at either end of known mineralization, fill-in drilling in the area intersected by Phase 1 drilling and down-dip extensions.



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HOLE SECTION NORTH FROM TO WIDTH WIDTH
NO. Zone DEP. LAT. DIP (m) (m) (m) (TW)(m) %Cu %Co
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SM-07-43 Upper 283,000 277,405 -42 30.9 39.5 8.6 8 2.0 0.26
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SM-07-44 Upper 283,000 277,368 -44 61.7 77.5 15.8 15 3.9 0.14
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SM-06-20 Upper 283,150 277,283 -65 53.1 104.1 51.0 46 3.6 0.07
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Inc 73.3 98.7 25.4 20 4.3 0.04
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SM-07-48 Upper 283,200 277,245 -55 48.3 106.3 58.0 53 2.0 0.06
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SM-06-25 Upper 283,300 277,224 -65 8.0 90.5 82.5 73 3.1 0.03
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SM-06-46 U1 283,300 277,150 -65 1.8 12.4 10.6 10 1.8 0.02
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Upper 103.6 130.9 27.3 26 2.5 0.03
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SM-06-36 Upper 283,700 277,158 -41 35.0 55.5 20.5 20 3.8 0.81
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SM-06-35 Upper 283,700 277,118 -65 1.8 7.9 6.1 6 0.8 0.01
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Lower 73.1 87.7 14.6 14 1.1 0.25
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SM-06-29 Upper 283,750 277,133 -41 34.1 37.3 3.2 3 2.1 0.11
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SM-06-30 Upper 283.750 277,131 -69 32.1 38.5 6.4 6 4.4 0.12
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Fill-in drilling continues to confirm broad zones of good copper grade mineralization while generally the strike extensions, tested by holes SM-06-42, SM-07-43, 44 to the west, and holes SM-06-29, 30, 35, 36 to the east, show a narrowing of the mineralized zones with lower copper grades and higher cobalt grades. These higher cobalt grades occur in areas not mined historically and this is consistent with other deposits in the Congo Copperbelt where cobalt tends to be better grade near surface.

Local thrusting in the western portion of the deposit has resulted in a substantial thickening of the Upper Zone but the Lower Zone is absent in this area as evidenced by holes SM-06-20, 25, 46, and SM-07-48 discussed in this release.

The deposit is currently interpreted as being stratabound and representing the south limb of an anticlinal structure. Faulting has provided channels for mineralizing fluids and may explain the thickening of the mineralized zones and continuity at depth observed between Section 283,250 E and 283,550 E. The presence of volcanic rocks also appears to be important in localizing the higher grade mineralization observed at Shituru.

A discussion of the individual holes follows:

SM-07-43 and 44 are located on section 283,000, the western extreme of drilling, SM-06-43 returned 2.0% Cu and 0.26% Co over 8 m (TW) and SM-06-44 returned 3.9% Cu and 0.14% Co over 15 m (TW) in the Upper Zone. The Lower Zone is absent in both holes as noted above.

SM-06-20 located on section 283,150, intersected 46 m (TW) in the Upper Zone grading 3.3% and 0.07% Co. This includes 20 m (TW) grading 4.3% Cu and 0.04% Co for this hole which previously reported as 20m (TW) of Lower Zone grading 4.3% Cu and 0.17% Co.

SM-07-48 located on section 283,200, returned 2.0% Cu and 0.06% Co over 53 m (TW) in the Upper zone. This hole confirms mineralization 50 metres down-dip previously reported Hole SM-06-41 which intersected a substantial mineralized zone, 94 m (TW) thick, grading 2.6% Cu and 0.06% Co.

On Section 283,300, SM-06-25 intersected 73 m (TW) grading 3.1% Cu and 0.03% Co. SM-06-46, a down-dip, step-out hole from SM-06-25, returned 26 m (TW) of 2.6% Cu in the Upper Zone and 10 m (TW) of 1.8% Cu in zone U1 at the contact between dolomitic and volcano-sedimentary rocks.

SM-06-36, located on Section 283,700, identified higher grade mineralization up-dip from previously drilled holes SM-06-11 and SM-06-13. SM-36 returned 3.8% Cu and 0.81% Co over 20 m (TW). SM-06-35, a fill-in hole between drill holes SM-06-11 and SM-06-13, reported grade and thickness similar to those holes returning 1.1% Cu and 0.25% Co over 14 m (TW).

SM-06-29 and 30 are located on section 283,750 near the eastern end of the drilling to date. SM-06-29 returned 2.1% Cu and 0.11% Co over 3 m (TW) and SM-06-30 returned 4.4% Cu and 0.12% Co over 6 m (TW).

Project Status

A second drill, capable of testing down-dip extensions, has now been operating on the property for two months and has completed 5 holes that have intersected mineralization at depths of about 150 metres below surface. These holes have been logged with some noted to contain copper sulphides and native copper. Samples have been submitted for assay and the results will be released in due course.

The Company has now completed 10,602 metres (68 holes) of drilling on the property with a further 1500 metres in 10 holes planned. The current focus of the exploration program is in-fill drilling sufficient to support a Mineral Reserve estimate in a Feasibility Study and also to extend the down-dip limits to mineralization. Further drilling is also planned to test strike extensions.

With the success of the shallow Phase 2 drilling to identify higher grades near surface, the Company has decided to incorporate these results into the initial Mineral Resource being estimated by SRK of Johannesburg. This has delayed completion of that work which is now estimated to be published in May 2007. This initial Mineral Resource estimate will be used as the basis of a Preliminary Assessment being prepared by Bateman Mining & Metals of Johannesburg which is estimated for completion in Q2-2007.

A summary of drill hole intersections, a drill hole plan and cross-sections are available on the company's website www.barytex.com.

President Leo King said, "These drill results are confirming the broad zones of copper mineralization at grades consistent with previously disclosed drilling. We are excited about the potential of the oxide copper resource and are eagerly awaiting the results of our deeper drilling. Our shallow drilling program has identified better copper grades near surface that should be beneficial to copper production schedules in our Preliminary Assessment currently being carried out by Bateman. We have intersected copper sulphides and native copper at depths about 30 metres deeper than our previous deepest holes which intersected chalcocite and bornite and are continuing to test the down dip extension to mineralization.

In terms of the development potential, the infrastructure requirements for Shituru are minimal and we see this as a real advantage for the property.

The large and growing interest in the Congo Copperbelt as well as the substantial investments being announced there underscore the quality of the DRC's copper resources and growing confidence in the region for mine development.

We think Shituru represents an exciting opportunity."

Core samples were sent to Alfred H. Knight (Zambia) Limited laboratories located at Kitwe, Zambia and to ALS/Chemex located in Johannesburg for preparation and analysis. Alfred H. Knight (Zambia) Limited has ISO/IFC 17025 accreditation for analysis of minerals and metals and is SANAS accredited for Cu and Co.

All samples were prepared to normal industry standards and assayed for total copper, acid soluble copper, total cobalt and CaO. In addition to the laboratories' internal quality control measures, the Company has implemented a quality assurance and quality control program which includes insertion of appropriate standards and blanks into the sample stream.

Bruno Barde, P. Geo, Exploration Manager for the Company, is supervising the program. Mr. Barde is a Qualified Person as defined under National Instrument 43-101.

The Company entered into an Option Agreement in May 2005 to acquire a major interest in the Shituru copper-cobalt deposit located within the Congo Copper Belt near the city of Likasi in the DRC. When fully exercised, the Company will hold an indirect 65% interest, the optionors a 10% indirect interest and Gecamines a 25% interest in Shituru Mining Corporation, sprl (SMCO), a joint venture corporation established to serve as the vehicle for the exploration and development of the Shituru property.

On behalf of the Board of Directors

INTERNATIONAL BARYTEX RESOURCES LTD.

Leo King, President and Director

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
    CEO
    (604) 688-9368
    or
    International Barytex Resources Ltd.
    Ivan Bebek
    Manager, Investor Relations
    (604) 688-9368
    (604) 688-9336 (FAX)
    Email: ibx@telus.net
    Website: www.barytex.com