- 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
October 18 , 2005
WORK IS STARTING ON THE PBX PROPERTIES IN CHILE. DRILL TENDERS HAVE BEEN CALLED FOR TWO OF THE PROPERTIES. THE OBJECTIVE IS TO DELINEATE MEASURED RESOURCES. THE CURRENT TENDER IS THE FIRST PHASE OF MAJOR DRILL PROGRAMS.
International PBX Ventures Ltd (TSX.V-PBX) the (“Company”) is pleased to announce tenders for a 10,000 metre drill program on the Company’s Copaquire copper-molybdenum porphyry property in northern Chile have been requested. This phase I drilling program is planned to further evaluate this extensive property, to be followed by a Phase II drilling program estimated at 15,000 metres with the aim of delineating a measured resource. This planned drilling follows previously announced significant results (see news of May 9 and August 10, 2005). The Copaquire property is situated in the Andes Mountains of northern Chile within 20 kilometres of the producing Quebrada Blanca and Collahausi porphyry copper-molybdenum deposits.
Similarly, the Company is pleased to announce tenders for a 10,000 metre drill program on its Tabaco copper oxide/sulphide-gold-silver skarn property have been requested. This phase I drilling program will target untested anomalies and extensions of known mineralization and plans are to follow-up with a 10,000 metre Phase II program designed to delineate a measured copper-oxide resource.
Currently, a field crew is being mobilized to the Tabaco property to continue surface exploration south of the area previously drilled, wherein extensive surface copper oxide showings and workings extend for up to a kilometre. An induced-polarization survey is planned to extend the existing one and a half kilometre long open-ended IP anomaly to the south. Previous drilling of this anomaly reported sections of coarse chalcopyrite up to 76 metres thick grading 0.85 % copper (28 May 2003).
Site visits by interested drill companies are now underway.
The company has also initiated environmental base-line studies on both properties.
BY ORDER OF THE BOARD
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.