International PBX Ventures Ltd.
TSX VENTURE : PBX

International PBX Ventures Ltd.

February 07, 2011 09:51 ET

PBX Acquires Additional Ground, Expanding the Copaquire Property, Chile

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 7, 2011) - International PBX Ventures Ltd. (the "Company") (TSX VENTURE:PBX) is pleased to report that on January 27th it signed a letter of intent with a private Chilean company to acquire a group of claims strategically positioned adjacent to the north, south and west of its 100% owned Copaquire Property in Chile. (view map: http://www.internationalpbx.com/pdfs/Copa_claim.pdf)

These new claims comprise a total area of approximately 560 hectares which will increase the Copaquire ground area by approximately 40 percent.

With this acquisition the Company has secured additional ground that comprises the Marta porphyry copper-moly mineralized system. The Marta Porphyry intrusive system is elongated north-south following the main structural trend or belt that hosts most of the major Chilean porphyry copper deposits. It measures approximately 3.5 kilometres in length (N-S) and ranges from 1.0 to 2.0 kilometres in width (E-W).

During the 2010 field program of prospecting, mapping and chip panel sampling in the Marta porphyry, several areas of copper and moly mineralization were identified with copper oxides, copper silicates and sections with visible chalcopyrite (copper sulphide) along fractures and disseminations in the Copper South and North areas.

A 2010 Titan Deep Penetration IP survey covered the southern portion of the Marta porphyry and identified several large geophysical targets beneath the newly identified mineralized areas at surface. The Titan IP targets will be the focus of the upcoming drill program.

Mr. George Sookochoff, President & CEO, states: "We are very pleased and fortunate to have been able to acquire this strategic new ground and thus securing additional area of the Marta Porphyry System. We look forward to the start of the drill program to test the Titan IP targets in the Marta."

Mr. Victor Jaramillo M.Sc.A., P.Geo.,and PBX Project Manager is the qualified person under National Instrument 43-101. Mr. Victor Jaramillo has reviewed and approved the scientific and technical information contained in this release.

ON BEHALF OF THE BOARD OF DIRECTORS OF INTERNATIONAL PBX VENTURES LTD.

George Sookochoff, President & CEO

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • International PBX Ventures Ltd.
    George Sookochoff
    President & CEO
    (604) 681-7748 or Toll Free: 1-877-681-1154
    (604) 681-0586 (FAX)
    www.internationalpbx.com