PBX DRILLS 124 METERS WITH 0.58 % COPPER
AT THE COPAQUIRE PROPERTY - CHILE
October 13, 2011
VANCOUVER, B.C. – International PBX Ventures Ltd. (“PBX” or the "Company") (TSX.V: PBX) is pleased announce further drill results on the diamond drill program on its 100% owned Copaquire copper molybdenum project, Chile. The Sulfato South copper zone infill drill program is intended to extend and confirm new copper mineral resources at the Copaquire project in areas north and adjacent to previously published resource estimates at the Cerro Moly zone.
To date the company has received new analytical results for drill holes CQ-114A, CQ-115 and CQ-116A (Sulfato South). Assay results for these drill holes are as follows:
Drill Hole |
Area |
From |
To |
Length |
Length |
Copper |
Moly |
% Copper |
Number |
|
meters |
meters |
meters |
feet |
% |
% |
Equivalent |
CQ-114A |
Sulfato South |
72.0 |
107.0 |
35.0 |
114.8 |
0.39 |
0.02 |
0.47 |
|
|
|
|
|
|
|
|
|
CQ-115 |
Sulfato South |
82.0 |
147.1 |
65.1 |
213.6 |
0.32 |
0.007 |
0.35 |
|
|
|
|
|
|
|
|
|
CQ-116A |
Sulfato South |
104.0 |
228.0 |
124.0 |
406.8 |
0.58 |
0.02 |
0.66 |
includes |
|
136.0 |
198.0 |
62.0 |
203.4 |
0.70 |
0.02 |
0.78 |
includes |
|
136.0 |
160.0 |
24.0 |
78.7 |
0.90 |
0.02 |
0.98 |
1Metal equivalent data are based on US$ 2.50/lb. copper and US$10/lb. Moly.
In calculating copper equivalencies 100% metal recoveries have been assumed.
“The latest drill results continue to demonstrate consistency in both grade and width across the Sulfato South copper zone,” said George Sookochoff, President & CEO of PBX. “These results will be incorporated into our next technical report and we expect a material increase in our Copaquire mineral resources.”
Results from additional holes will be announced when received.
QA/QC
A full QA/QC program, involving insertion of appropriate blanks, standards and duplicates is being employed. All drill holes are mostly sampled on a 2 m continuous basis, with samples split on site and one half being transported by ALS Laboratories to the ALS Laboratories in Antofagasta, Chile for preparation. The samples are then transferred to ALS Laboratories in La Serena for analysis. A second half of core is stored at a PBX facility for reference.
The 2011 Copaquire diamond drill program is being supervised by Mr. Victor Jaramillo, M.Sc.A., P.Geo. (PBX Project Manager) and who is the qualified person under National Instrument 43-101. Mr. Victor Jaramillo has reviewed and approved the scientific and technical information contained in this release.
About International PBX Ventures Inc.
International PBX Ventures Inc is a junior exploration Company with a strong portfolio of copper, molybdenum and gold projects in Chile. The 100% owned Copaquire copper molybdenum property is the Company’s flagship project and is located in Chile’s prolific copper porphyry belt. This arc‐parallel belt includes 30 porphyry Cu‐Mo deposits and prospects with the largest amount of copper concentration in the world, totalling about 220 million tonnes of copper. The Quebrada Blanca and Collahuasi (the third largest copper mine in the world) producers are within 15 kilometres of the property. For more information, please visit the Company’s website: www.internationalpbx.com
ON BEHALF OF THE BOARD OF DIRECTORS OF
INTERNATIONAL PBX VENTURES LTD.
“George Sookochoff”
George Sookochoff, President & CEO
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
We seek safe harbour. |