August 15 , 2007
International PBX Ventures Ltd. is pleased to report continuing excellent results from the molybdenum-copper resource definition program comprising 10,000 metres of diamond drilling.
|Hole #||From (m)||To (m)||Width (m)||% Mo||% Cu||g/t Re||Comments|
|CQ 57||0.0||90.0||90.0||0.001||0.04||In pyrite shell to the east|
|CQ 58||0.0||366.1||366.1||0.002||0.06||0.02||In pyrite shell to the east|
|CQ 59||2.0||427.1||425.1||0.003||0.08||0.02||In pyrite shell to the east|
Note 0.1% Mo=2 lb/short ton 1%copper=20 lb/short ton
Holes 57,58, and 59 are in the pyritic shell which commonly surrounds mineralized porphyries and they define the eastern boundary of the system. The north, south and west directions are still open and will be located by continued drilling. Note high rhenium associated with high molybdenum content in CQ-56.
All analyses were carried out at ALS Patagonia Laboratories, Coquimbo, Chile.
Tor Bruland, MSc, PGeo is the qualified person under National Instrument 43-101 in charge of the program. The results should be considered preliminary exploration data.
Copaquire is located in northern Chile on the west fissure which hosts some of the largest copper-molybdenum porphyry mines in the world. It is the last well-exposed major porphyry system in Chile yet to be fully explored. The company has an option to purchase a 100 per cent interest in the property.
ON BEHALF OF THE BOARD OF DIRECTORS OF
INTERNATIONAL PBX VENTURES LTD.
Gary Medford, Ph.D., P.Geo.
PRESIDENT AND CEO
Office: 604 681 7748
Toll Free: 1 877 681 1154
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.