INTERNATIONAL PBX DRILLING UPDATE, TIERRA DE ORO PROJECT, CHILE
January 16, 2008
The company’s initial 5,000 metre reconnaissance reverse circulation drill program on the Tierra de Oro gold-copper-cobalt-silver property consisting of approximately 65 drill holes is near completion. To date 620 drill samples have been submitted for analysis with more to follow as drilling progresses. The drill program is designed to test gold targets generated from the company’s previous work on the Tierra de Oro claims. To date, exploration programs have identified, mapped, sampled, trenched and drilled, to varying degrees, twenty large gold targets.
The wholly-owned property comprising 63 square kilometers, located in Region 3 Chile, hosts a shattered granitic body with criss-crossing major structural gold-mineralized shears as evidenced by extensive artisanal pits and workings. The granitic body is oxidized to depths of around 100 metres and may thus be amenable to open pit leaching operations in areas of concentrated structure.
The property is located 48 km south of the Candelaria Mine (400 million tonnes 1 per cent copper, 0.25 grams per tonne gold) discovered by drill-testing induced polarization (IP) anomalies.
The Tierra de Oro property covers a historic gold camp and lies within the same intrusive/volcanic sequence that hosts several large open pit gold and copper/gold mines.
The property is accessed by well maintained gravel roads and is located 20 km from the Pan American highway, next to the main Chile power grid. With a maximum elevation of only 1,500 meters the region enjoys good climatic conditions, allowing year round exploration.
For more complete information and updated maps on the Tierra de Oro gold project please visit the company’s website at www.internationalpbx.com.
ON BEHALF OF THE BOARD OF DIRECTORS OF
INTERNATIONAL PBX VENTURES LTD.
Dr. Gary Medford, 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.
©2008 International PBX Ventures Ltd.