International PBX Ventures Ltd.
TSX VENTURE : PBX

International PBX Ventures Ltd.

April 18, 2011 04:35 ET

PBX Copaquire Copper Project Drill Update

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 18, 2011) - International PBX Ventures Ltd. (TSX VENTURE:PBX) is pleased to provide an update to the 2011 drill program on its Copaquire copper molybdenum project in northern Chile.

A second drill (Drill#2) has now arrived on site and commenced drilling on the Marta porphyry intrusive complex (drill hole CQ-106). Results of a recent ZTEM airborne geophysical survey, indicates the size of the Marta porphyry to be approximately 5.3kms x 2.6kms and open at depth. Drill#2 is specifically designed for deep drilling in order to test the depth of the porphyry system. Drill Hole CQ-106 has an orientation (azimuth) of 210 degrees and an inclination of -50 degrees. The main target is to test a Titan IP anomaly which is coincident with the large ZTEM geophysical anomaly that is related to a porphyry system.

The first drill (Drill#1) is currently drilling in the Sulfato South copper zone (drill hole CQ-107). Drill Hole CQ-107 is a vertical diamond drill hole. The main target is to test for copper mineralization as that outlined in drill holes CQ-100 and CQ-102 drilled last year. A limited 2010 diamond drill program in this area intersected grades of 0.67% CuEq over 267.6 meters including 0.92% CuEq over 139.6 meters and 2.20% CuEq of 14.0 meters (see NR June 15, 2010). Drill #1 will continue testing this high grade copper area to delineate further copper resources and a starter pit area for its 2009 Preliminary Economic Assessment Mine Plan.

View images and photos:

Drill#1: http://www.internationalpbx.com/images/Drill1.jpg

Drill#2: http://www.internationalpbx.com/images/Drill2.jpg

Copaquire 3D View: http://www.internationalpbx.com/images/ZTEM_3D.jpg

Marta & Cerro Moly ZTEM X-section: http://www.internationalpbx.com/images/ZTEM_xsection.jpg

QA/QC

A full QA/QC program, involving insertion of appropriate blanks, standards and duplicates is being employed. All drill holes are sampled on a 2 m continuous basis, with samples split on site and one half being 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. A second half will be stored at a PBX facility for reference. Sample results will be released as they become available.

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.

About International PBX Ventures Inc.

International PBX Ventures Inc. is a junior exploration Company with a strong portfolio of copper, molybdenum and gold projects in Chile. The 100% owned Copaquire copper molybdenum property is the Company's flagship project and is located in Chile's prolific copper porphyry belt. This arc‐parallel belt includes 30 porphyry Cu‐Mo deposits and prospects with the largest amount of copper concentration in the world, totalling about 220 million tonnes of copper. The Copaquire project area is located in an intersection of a NS structural trend (Domeyko fault system) and SE-NW regional lineament. In these intersections, large porphyry copper deposits are known to occur. The project is also located in the Collahuasi copper endowment and near two large operating mines: Collahuasi (Ujina and Rosario porphyries) and Quebrada Blanca. The Quebrada Blanca and Collahuasi (the third largest copper mine in the world) producers are within 15 kilometres of the property.

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

George Sookochoff, President & CEO

We seek safe harbour.

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) 681-0568
    www.internationalpbx.com