International PBX Ventures Ltd.
TSX VENTURE : PBX

International PBX Ventures Ltd.

March 20, 2006 17:11 ET

International PBX Ventures Ltd.-Copaquire Copper Molydenum Property, Chile: Drilling Planned on the Sulfato Copper Zone

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 20, 2006) - International PBX Ventures Ltd. (TSX VENTURE:PBX) -

The company plans to commence a 3000 metre reverse circulation drill program on the Sulfato North secondary copper zone in mid-April 2006. The program is designed to expand upon a 236 metre vertical drill hole intersection grading almost 0.4 per cent copper (leachable) encountered in the company's last drill program. This hole along with other holes from the last program and historical drilling by a major company indicate a leachable copper target potential of about 250 million tonnes at a possible grade of about 0.5 per cent copper for the Sulfato North zone. The Sulfato South area, with about twice the size potential of the North zone, will be explored in follow up programs. Sampling quality assurance and quality control will be carried out by SRK Consultants.

ABOUT COPAQUIRE: The property (1457 hectares) hosts a large porphyry copper-molybdenum system located in the productive West Fissure structure of northern Chile that localizes several of the world's largest copper mines, including the nearby Collahuasi mine (mine-able reserve; 1.8 billion tonnes at 0.9 per cent copper). The area of immediate interest is about 1.5 by 3 kilometres in size (4500 hectares). The south end, drilled by the company in 2005, expanded upon historical drilling by a major. The target there, based on all previous drill and surface work, remains a bulk tonnage porphyry deposit of in excess of 1.5 billion tonnes at a possible grade of about 0.08 per cent (1.76 pounds per tonne) molybdenum. The top 200 metres of this area (exposed as a hill) is more copper rich (0.25 per cent) and somewhat lower in molybdenum (0.05 per cent). Sulfato North is part of the same system but about 3 km farther north and about 200 metres higher topographically. This is the more copper rich level of the system which has been converted from primary copper to secondary (leachable) copper by groundwater action. This material is similar in nature to the ore at the nearby (10 km) Quebrada Blanca Mine operated by Aur Resources (TSX:AUR).

TABACO: Diamond drilling continues on this copper-oxide project on hole number 5.

BY ORDER OF THE BOARD

Gary Medford Ph.D.,P.Geo., President and CEO

The company relies on "forward-looking" statement litigation protection.


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

Contact Information

  • International PBX Ventures Ltd.
    Gary Medford, Ph.D., P.Geo.
    President and CEO
    (604) 681-7748 or Toll Free: 1-877-681-1154
    ipbx@uniserve.com
    www.internationalpbx.com
    or
    Robert A.Young and Associates
    Investor Relations
    1-877-626 2121