- 475 Howe Street
Vancouver, BC Canada V6C 2B3
TEL: (604) 681-7748 • FAX: (604) 681-0568
Canadian Venture Exchange Symbol: PBX
EMAIL: [email protected]
WEB SITE: www.internationalpbx.com
January 6, 2005
COPAQUIRE MEGA-MOLYBDENUM TARGET TO BE DRILLED
The company has issued tenders for a 2500 metre drill program to commence as soon as possible to confirm and extend previous work by major companies and test induced polarization anomalies obtained by International PBX on this property. The 1,433-hectare Copaquire property is located 20 kilometres west of the mega-copper-molybdenum Collahuasi mine but at lower elevations (3,500 to 3,900 metres) and workable year-round. The company has the option to earn a 100-per-cent interest in the property over a four-year period.
Current molybdenum prices of over $US 30.00 per pound makes this an enormously exciting project for the company as previous drilling and surface sampling indicate the presence of widespread Mo values of between 0.1 to 0.2 per cent or, in other words, between 2.2 and 4.4 pounds Mo per tonne. Based on previous sampling and drilling and induced polarization work carried out this year, the target size is estimated to be in the range of 0.5 to 1.3 billion tonnes ( see news release of October 18, 2004).
BY ORDER OF THE BOARD
Gary Medford Ph.D. P.Geo.
604 681 7748
Robert A Young and Associates 604 682 5123
Investor Relations 1 877 626 2121
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
The company relies on “forward- looking” statement litigation protection.