NEWS RELEASE |
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April 21, 1998 141,000 oz GOLD RESOURCE POTENTIAL OUTLINED FE-SKARN ZONE, "TIERRA DE ORO" PROJECT, CHILE Recent structural mapping in the area of the Company's previous drilling and trenching in the Fe-Skarn Zone indicates that the higher grade gold intercepts are from the same mineralized structure. This structure shows strong continuity along the 450 metres of strike and 125 metres of depth drilled and trenched to date. In addition the structure is readily traceable on surface for a further 1,200 metres to the northeast and 650 metres to the southwest - a total strike length of 2,300 metres - before disappearing beneath alluvium. The average gold grade of the drilled and trenched section is 5.6 gpt over 5 metres width. At this grade this section of the structure would contain 4.4 million grams (141,000 ounces) of gold. Assuming reasonable grade continuity, to modest depth of 150 metres, the 2,300 metre section of the structure traced to date would contain 14 to 27 million grams (450,000 to 870,000 ounces) of gold. The Fe-Skarn structure is only one of at least five similar gold-silver-copper zones outlined within a northeast trending 2,000 m to 5,000 m wide belt of alteration and old gold vein workings on the "Tierra de Oro" property. On behalf of the Board of Directors of
"Terence Walker, M.Sc, 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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