December 8 , 2003
TIERRA de ORO PROPERTY, CHILE - ROSARIO ZONE
International PBX Ventures Ltd. is pleased to report the first
results from a detailed surface mapping and sampling program
initiated in November on the Rosario Zone. International PBX's
wholly owned, 4056 hectare Tierra de Oro property covers the
Sierra Chanchero gold camp containing over 32 linear km of
gold bearing structural zones ranging from 50m to 300m wide.
Surface exploration, including trenching and a few short drill
holes, by IPBX in 1996-98, identified 15 targets with surface
values ranging from 6m grading 6.98 g/t to 150m grading 0.9
g/t gold. Only four of these zones have been explored in any
detail. The Rosario Zone is the first of the other eleven
zones to be detailed.
The current surface exploration program indicates that Rosario
in fact contains two main northerly trending auriferous structure
zones from 50m to 100m wide which to date have been traced
for over 1500 metres in length. Both consist of multiple oxidized
high grade 'veins' from 0.5m to 3.0m wide with intervening
fine veinlets and stringers.
The thirty five 'vein' assays received so far are from a 300m
length of the eastern structure zone and range in value from
0.45 g/t to 22.6 g/t gold and in widths from 0.5m to 1.5m.
The zone is the locus of numerous shallow pits, trenches and
shafts and most of the creeks draining this area have been
worked for placer gold. Twelve continuous chip sample assays,
across the zone, from old workings along the most actively
worked 100m stretch of this zone returned a weighted average
grade of 5.6 g/t over 1.5m. Within this section 8 main 'veins'
have been worked discontinuously from a 25m wide corridor
within the zone. Chip sample assays from the intervening wall
rocks (ie. areas between high-grade veins) range in value
from 0.15 g/t to 0.46 g/t gold and average 0.3 g/t gold.
Limited chip sampling from the south part of the western structure
in 1996 and the reason for initiatiating recent surface work,
returned gold values up to 39.4 g/t over 1m and 1.1 g/t over
All samples were collected by experienced samplers and geologists
under the supervision of T. Walker M. Sc. P. Geo., the designated
qualified person as defined by National Policy Instrument
NI43_101. All the analysis were completed by ALS Chemex at
their Coquimbo laboratory in Chile.
The sampling program continues with more results expected
soon from this very large gold camp with both underground
and open pit potential.
BY ORDER OF THE BOARD
Terence Walker M.Sc. P.Geo.
President and Director
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]