February 14 , 2008
International PBX Ventures Ltd. announces the discovery of a large three dimensional (3D) Induced Polarization (IP) anomaly located beneath the existing copper resource. The anomaly is elongated northeast-southwest, 800 meters long by 400 meters wide and is open at depth and to the northeast. The top of the anomaly ranges in depth from 50 to 250 meters.
The 2003 and 2006 drill programs did not confirm the presence of a porphyry copper system. However it did encounter strong copper skarn mineralization normally found marginal to porphyry copper systems. In addition, several geologists have observed that the extent of surface alteration is disproportionately greater than the amount of copper mineralization drilled to date. The IP survey was undertaken to test if a copper porphyry system exists at a greater depth than has been previously drilled. Unlike a conventional 2D IP, the current IP survey has deeper penetration and produces a geophysical 3D model in keeping with the geometry of the geological model.
Upon review of the new geophysical results, earlier drilling appears to have intersected the upper part of the anomaly in drill hole TAB01-03 which returned 44.0 meters of 1.29 percent copper.
The company is in the process of securing a drill capable of testing this anomaly.
ON BEHALF OF THE BOARD OF DIRECTORS OF
INTERNATIONAL PBX VENTURES LTD.
George Sookochoff, 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.