International PBX Ventures Limited's wholly
owned, 600 ha San Pedro property, located 600 kilometers
north of Santiago, Chile covers several large alteration systems
historically mined for copper, gold and rutile (titanium dioxide)
Both mineralized systems, which are separated
by 100 meters or less, consist primarily of phyllic alteration
with quartz-sericite flooding, silicification and veining
associated with aplitic dykes which invade a regional diorite-tonalite
intrusive. Mineralisation in the form of disseminated and
vein rutile, pyrite, chalcopyrite and copper oxides covers
surface areas of approximately 200-300 metres by 100 metres
along the top and flanks of a hill with 200 metres of local
relief.
Copper Gold
There are a number of old mine workings in the copper-gold
alteration zone which primarily exploited high grade copper-gold
bearing quartz-sulphide veins and mineralised structures.
These typically produced "ore" of 2% + Cu and 3
+ gpt Au and were mined to depths of a few to 80 metres. There
appears to have been no prior systematic sampling of this
system which, based on its know surface area and exposed depth
exten, could host a deposit in the 50 to 100 million tonne
range.
Rutile
Outcrop sampling of the disseminated rutile bearing alteration
system in the early 1990's by previous owners produced grades
varying from 1-15% Ti02 with an average of 1.5 to 2% Ti02
over widths of 30 to 150 metres. Its known surface area and
exposed depth would also give this system similar deposit
size potential to the copper-gold system.
The San Pedro property was recently staked
as part of a program to expand the Company's portfolio with
properties possessing high potential multi-metal prospects
and requires more detailed surface exploration to assess it
economic potential.
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