International Barytex Resources Ltd.
TSX VENTURE : IBX

International Barytex Resources Ltd.

September 05, 2007 08:01 ET

International Barytex Resources Ltd.: Further Drill Results at the Shituru Copper Property, Including 15 Metres at 13.1% Copper

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 5, 2007) - INTERNATIONAL BARYTEX RESOURCES LTD. (TSX VENTURE:IBX) ("the Company") is pleased to announce assay results of a further 10 diamond drillholes completed as part of its exploration program at the Shituru Copper deposit located near the town of Likasi in the Democratic Republic of Congo (DRC). This drilling represents on-going delineation drilling to support a Mineral Resource estimate for a Feasibility Study.

With the exception of 1 hole, SM-07-63, the 10 holes herein were drilled within the western portion of the deposit and represent near surface, down-dip and fill-in drilling.

Significant intersections for 4 near surface diamond drillholes are tabulated below. Please see the table for complete results.



SM-07-65 40 metres @ 4.9% Copper
SM-07-80 16 metres @ 8.3% Copper
SM-07-82 44 metres @ 4.5% Copper
SM-07-83 15 metres @ 13.1% Copper


Near surface drilling indicates pervasive oxide copper mineralization crossing lithology with a convergence of the Upper and Lower zones resulting in broad, continuous mineralization.

The 3 down-dip holes reported in this release indicate the mineralization continuing and flattening with depth. Hole SM-07-70 intersected 18.8 metres of mineralization grading 4.8% Copper at the 1,175 metres elevation, 100 metres below surface.

About the Project

An initial Mineral Resource based on 46 diamond drillholes, and estimated by SRK Consulting of Johannesburg, was released on July 11, 2007 as an Indicated Mineral Resource of 7.8 million tonnes grading 4.4% Copper with an additional Inferred Mineral Resource of 2.2 million tonnes grading 2.7% Copper. This estimate will be used to support a Preliminary Assessment being completed by Bateman Engineering of Johannesburg. Completion of the Preliminary Assessment is forecast for Q3-07.

To date a total of 102 diamond drillholes have been drilled on the deposit for a total of 14,700 metres. Results for 71 holes have been disclosed to date. Additional drill results will follow as information becomes available.

Geo-technical drilling to determine pit-wall slope parameters for Feasibility Study mine design has now commenced. Condemnation drilling for project infrastructure and drilling for environmental monitoring and hydrologic studies will commence shortly.

Other investigations to support a Feasibility Study are underway as reported previously.

President Leo King states, "We are excited about the near surface grades being encountered at Shituru and the implications this may have on early copper production. We are reviewing what additional exploration information might be needed for the estimate of a Mineral Resource for use in a Feasibility Study but believe this program is almost complete. The potential at depth remains relatively untested and we will consider further exploration at Shituru once drilling programs for the Feasibility Study are completed.

We are looking forward to the completion of the Preliminary Assessment in Q3 and releasing the results of that work.

In our view the DRC has great potential for further opportunities and we intend to pursue these as Shituru moves forward in the development pipeline."



SUMMARY OF MINERALIZED ZONES INTERSECTED BY EXPLORATION DRILLING

---------------------------------------------------------------------------
Est
Section North From To TW
Hole Zone Dep Lat Dip m m Width m %Cu %Co
---------------------------------------------------------------------------
NEAR SURFACE
---------------------------------------------------------------------------
SM-07-83 Upper 283,100 277,366 -40 8.1 14.1 6.0 5 1.1 0.06
---------------------------------------------------------------------------
Lower 35.2 51.3 16.1 15 13.1 0.09
---------------------------------------------------------------------------
SM-07-82 Upper/ 283,200 277,342 -45 4.5 49.3 44.8 44 4.5 0.05
Lower
---------------------------------------------------------------------------
SM-07-65 U1 283,225 277,265 -45 21.2 27.2 6.0 5 1.3 0.08
---------------------------------------------------------------------------
SM-07-80 Upper 283,250 277,305 -45 0 16.8 16.8 16 3.0 0.04
---------------------------------------------------------------------------
Upper 21.8 35.7 13.9 12 4.4 0.03
---------------------------------------------------------------------------
Lower 47.3 63.3 16 15 8.3 0.03
---------------------------------------------------------------------------
DOWN-DIP
---------------------------------------------------------------------------
SM-07-70 U2 283,200 277,225 -65 0 10.7 10.7 10 2.1 0.02
---------------------------------------------------------------------------
U1 93.7 112.5 18.8 ? 4.8 0.07
---------------------------------------------------------------------------
SM-07-64 U2 283,225 277,229 -65 10.7 20.5 9.8 9 3.0 0.10
---------------------------------------------------------------------------
U1 64.3 69.4 5.2 5 1.4 0.05
---------------------------------------------------------------------------
U1 74.5 79.5 5.0 5 1.5 0.12
---------------------------------------------------------------------------
Upper 82.5 92.2 9.7 9 2.6 0.09
---------------------------------------------------------------------------
Upper 98.1 101.5 3.4 3 2.4 0.14
---------------------------------------------------------------------------
SM-07-77 Upper 283,300 277,113 -65 97.7 99.9 1.8 1 1.6 0.03
---------------------------------------------------------------------------
Lower 131.6 145.7 14.1 11 1.8 0.03
---------------------------------------------------------------------------
FILL-IN
---------------------------------------------------------------------------
SM-07-79 - 282,950 277,360 -44 No Significant Intersection
---------------------------------------------------------------------------
SM-07-81 Upper 283,300 277,283 -55 0 16.5 16.5 11 2.8 0.03
---------------------------------------------------------------------------
Lower 24.5 49.9 25.4 24 4.3 0.03
---------------------------------------------------------------------------
SM-07-63 U1 283,500 277,057 -53 136.2 139.2 3.0 3.1 1.4 0.03
---------------------------------------------------------------------------
Upper 145.3 150.4 5.1 4 8.5 0.01
---------------------------------------------------------------------------
Lower 192.5 197.8 5.3 4 4.5 0.03
---------------------------------------------------------------------------

A summary of disclosed drillhole intersections is available on the
Company's website www.barytex.com.


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. ALS/Chemex has ISO 9001:2000 and ISO 17205:2005 accreditation.

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

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
    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