International PBX Ventures Ltd.
TSX VENTURE : PBX

International PBX Ventures Ltd.

September 14, 2010 10:11 ET

PBX Announces Discovery of New Copper Porphyry Mineralization at Copaquire, Chile

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 14, 2010) - International PBX Ventures Ltd. (the "Company") (TSX VENTURE:PBX) is pleased to announce the discovery of a new copper porphyry mineralized zone named "Copper South" located approximately 2.5 kms west of the Sulfato South and Cerro Moly Zones.

The discovery was made from a geological prospecting and sampling program south of the Guatacondo Creek. It consists of a strongly leached clay-sericite altered zone, mixed with intermittent copper oxides (copper wad, chalcantite and atacamite) along a north-south trending creek, approximately 300 meters long by approximately 150 meters wide. The Copper South porphyry is characterized at lower elevations by a potassic altered porphyritic granodiorite with quartz stockwork veinlets, thin coatings of copper oxides and remnant chalcopyrite along fracture surfaces. The mineralized system remains open in all directions.

(View Map: http://www.internationalpbx.com/images/Copaquire-Plan.jpg)

Analytical results for 49 surface chip 2x1 meter panel samples from this area averaged 0.20% copper which is consistent with leached grades of underlying enriched and hypogene porphyry copper systems. Highlights of the sample results are as follows:

SAMPLE Panel Cu   SAMPLE Panel Cu
Number (2 x 1m) %   NUMBER (2 x 1m) %
108854 Panel 0.14   107628 Panel 0.39
108855 Panel 0.14   107631 Panel 0.22
108860 Panel 0.38   107632 Panel 0.16
108861 Panel 0.47   107633 Panel 0.19
108862 Panel 0.79   107636 Panel 0.18
108863 Panel 0.29   107637 Panel 0.19
108864 Panel 0.24   107640 Panel 0.25
108867 Panel 0.14   107641 Panel 0.23
108868 Panel 0.16   107642 Panel 0.15
108870 Panel 0.47   107643 Panel 0.13
108871 Panel 0.32   107645 Panel 0.21
108872 Panel 0.13   108645 Panel 0.63
108873 Panel 0.22   108646 Panel 0.10
108874 Panel 1.04   108649 Panel 0.22
108875 Panel 0.31   108659 Panel 0.17

George Sookochoff, President and CEO of PBX, commented, "I am very pleased with the discovery of yet another copper porphyry system on the Copaquire property. This new discovery is particularly exciting as it confirms our belief that Copaquire will ultimately realize its potential of being a major copper project in Chile."

The Copaquire project is located in the Chilean copper porphyry belt. This arc-parallel belt includes 30 porphyry copper-molybdenum deposits and prospects with the largest amount of copper concentration in the world, totaling about 220 million tonnes of copper. The Quebrada Blanca and Collahuasi mines are within 15 kilometers of the property.

A full QA/QC program, involving insertion of appropriate blanks, standards and duplicates was employed. All samples were transported by ALS Laboratories to the ALS Laboratories in Antofagasta, Chile for preparation. The samples are then transferred to ALS Laboratories in La Serena for analysis.

Senior Geological Consultant Mr. Victor Jaramillo M.Sc.A., P.Geo., 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