21 , 2003
HORNITOS COPPER-GOLD (IOCG) PROPERTY ACQUISITION,
The Company has recently acquired by staking
the Hornitos copper-gold property in Chile. The 3100 hectares
property is located 35 km south of Copiapo within the Atacama
Fault Zone in similar geological setting to that at the Phelps
Dodge Candelaria Mine (365 million tonnes grading 1.03% copper
and 0.25 gpt gold) situated 40 km to the NE.
The Hornitos property adjoins one of four
prime target areas currently being explored for iron oxide
copper-gold (IOCG) type deposits by the Far West- BHP Billiton
joint venture within this part of the Chilean Coastal Iron
Several large structure zones transect the
property and are the loci of numerous high-grade Au and Cu-Au
'vein' mines. The two principle mines, which have been worked
along several hundred metres of strike and to depths of fifty
metres or more, demonstrate mineralisation consisting of hematite-geothite-limonite
and green copper oxides after primary magnetite-pyrite-chalcopyrite
occurring as disseminations, patches and veins.
This new acquisition follows from extensive
regional studies along this Lower Cretaceous metallogenic
belt between Taltal and La Serena.
BY ORDER OF THE BOARD
"Terence Walker, MSc, P.Geo"
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
INTERNATIONAL PBX VENTURES LTD.
608-475 Howe Street
Vancouver, BC CANADA V6C 2B3
Tel: (604) 681-7748
Fax: (604) 681-0568
Email: [email protected]
Trading Symbol: IVU - Canadian Venture