August 21 , 2003 HORNITOS COPPER-GOLD (IOCG) PROPERTY ACQUISITION, CHILE 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 province. 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.
"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.
INTERNATIONAL PBX VENTURES LTD. Trading Symbol: IVU - Canadian Venture Exchange |