September 20 , 2007
The company is pleased to report to shareholders on the progress of its key exploration programs.
Copaquire Molybdenum-Copper Property
Cerro Moly Molybdenum Zone
Having recently announced a substantial molybdenum-copper resource the company will now focus on producing a 43-101 compliant Preliminary Economic Assessment. The report will evaluate the nature and mine-ability of the resource. Drilling will now be divided between exploration and development. Development or in-fill drilling of Cerro Moly mountain which hosts a significant portion of the resource will commence in order to upgrade resource categories to measured and indicated. By concentrating on above-surface mineralization the company will emphasize delineating mineralization that should be relatively inexpensive to process relative to open pit and more quickly moved to the pre-feasibility stage of development.
Sulfato Copper Zone
One drill will move to the adjacent Sulfato copper zone to the north. From the results of the 2006 drilling the company has determined that a substantial leachable copper resource may be available near the Sulfato mountain top and this additional in-fill drilling should allow a copper resource estimate to be published in the near future.
Marta Molybdenum Area
The third drill will be sent to test the Marta molybdenum area to the west of Cerro Moly zone. Underground workings in the area indicate the possibility of high grade shears as well as porphyry bulk tonnage molybdenum mineralization. Upon completion the drill will return to Cerro Moly or Sulfato as required.
Sierra Pintada Copper-Gold Property
Concurrently, a deep-penetration 3D Induced Polarization (IP) geophysical survey has begun on the company’s copper-gold Sierra Pintada property to search for potential porphyry bulk-tonnage or iron-oxide-copper-gold targets below the high-grade structurally controlled gold and copper showings on the property. Following completion of this survey, the IP crew will move to the Copaquire Marta molybdenum area and Sulfato copper zone where IP will evaluate drill targets and investigate the size and depth of mineralization. The IP will then move to the Tabaco copper-oxide/sulphide property to test the lateral extension and vertical depth of the copper deposit.
Tabaco Copper Property
The company is pleased to announce that it has engaged mining engineer Jorge Alvarez P.Eng. of Vancouver to begin the preliminary work required to move the Tabaco oxide copper resource to production. For details of this mineralization see the NI43-101 report on the company’s website. The program will first be directed at establishing a direct shipping program, if feasible, while the economics of an onsite plant construction are investigated to process Tabaco mineralization and other similar oxide copper mineralization owned by the company.
Tierra de Oro Gold-Copper Property
A drill program on this extensive shear-hosted gold property is now in the planning stage.
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.