February 21 , 2008
International PBX Ventures Ltd. announces the discovery of a large three dimensional (3D) Induced Polarization (IP) anomaly located on its Tierra de Oro gold property. The large near surface anomaly is elongated northeast-southwest, 2,800 meters long by 1,700 meters wide, and is open at depth.
“The TDO geophysical IP anomaly is not only significant due to its large size but also in its clear definition and closure on all sides” said Mr. Syd Visser, P.Geo., president of SJ Geophysics Ltd. “These characteristics are a strong indication that the anomaly may be caused by a distinct sulphide-rich intrusive body.”
The anomaly is located at the center of a structurally controlled copper-gold camp and may be the source of the near surface copper and gold mineralization found in the surrounding areas.
The company is currently shallow drill-testing (up to 100meters) several structurally controlled gold targets in the area, but with this new discovery it will be necessary to secure a drill capable of testing this IP anomaly at depth.
“As at our Tabaco copper project, I am very excited that our choice of technologically advanced methods of exploration have once again been successful” said Mr. George Sookochoff, ”thereby allowing us to identify significant prospective targets quickly and efficiently.”
The Tierra de Oro 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 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 climactic conditions for year round exploration.
Please visit our website at www.internationalpbx.com to view images of the 3D IP 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.