NEWS RELEASE |
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March 16, 1998 TWO NEW GOLD ZONES - "TIERRA DE ORO" Ongoing reconnaissance exploration of areas not surveyed previously (40% of the project) has resulted in the discovery of two new gold zones. The first or "Churque Zone" consists of a 300 - 400 metre wide north-south zone of altered monzonite porphyry invaded by later andesite porphyry dikes and extensive quartz-carbonate-iron veins. Assays range from 1.76 to 4.95 gpt gold over 1.5 to 2.5 metre widths. Intervening host rocks range from 0.13 to 0.41 gpt gold. The larger (+0.5 metre) veins are regularly spaced at 2 to 5 metre intervals with numerous smaller veins and stringers interspersed. The zone is exposed on three sub-parallel east-west ridges 200 - 300 metres apart and disappears below valley fill to the north and south. The second or "Fluorite Breccia Zone" is located 2 km northeast of "Churque" and consists of a swarm of feldspar and quartz porphyrytic dikes invading coarse andesite agglomerates. The dikes are uniformly altered, extensively fractured and limonite stained. Quartz - carbonate - iron oxide veins are common in the dikes and host andesites, commonly banded and where brecciated contain pale fluorite. Chip samples from a variable-width 1.3 to 2.1 metre breccia vein reported 9.2 gpt gold. The dike swarm and associated alteration and veining is 200 to 300 metres wide and at least 1 km long with both strike directions open.
On behalf of the Board of Directors of
Gary A. Medford, Ph.D., P.Geo
The Vancouver Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this Release.
This is not an offer to buy or sell, nor a solicitation of an offer to buy or sell these securities.
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For further information please contact John Gomez.
INTERNATIONAL PBX VENTURES LTD.
Trading Symbol: IVU - Vancouver Stock Exchange
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