December 18 , 2003
International PBX Ventures Ltd. (PBX) is pleased to announce the appointment of Robert Connochie, BSc., MBA of Greenwich, CT to the Board of Directors.
Mr. Connochie brings to PBX over 30 years of senior experience in strategic planning and project evaluation and development. He has held a number of positions including Vice-President of Corporate Development for Rio Algom Ltd., CEO of Potash Company of America, and President and Director of Asia Pacific Resources.
"Mr. Connochie will provide a wealth of expertise that will be invaluable to PBX as the company pursues the development of its various properties", commented Terry Walker, President. In particular, emphasis will be placed on exploring options to fast-track the Tabaco copper deposit to the pre-feasibility stage.
International PBX Ventures Ltd. (PBX:TSX-V) is a Canadian company focused on the exploration and development of its Chilean properties. Current work is concentrated on three projects:
TIERRA de ORO
Recent sampling of the Rosario Zone indicates that this Zone, one of 15 identified on the property, contains two structure zones from 50m to 100m wide that to date have been traced for over 1500m in length. Both consist of multiple oxidized high grade "veins" from 0.5m to 3.0m wide. The 25 "vein" sample assays received so far are from a 200m length of the eastern structure zone and range in value from 0.45 g/t to 22.6 g/t gold in widths from 0.5m to 1.5m.
The fifteen targets identified to date occupy less than 30 percent of the known structural zones which ,in turn, cover only 10 percent of the 30 square kilometre camp. The exploration target is open pit heap leach oxide gold deposits and, secondarily, underground high grade gold veins.
sulphides ranging from 20m to 144m with the higher grade intercepts ranging from 28m at 1.69% copper to 144m at 0.43% copper.
PBX believes that the property has excellent potential to contain both large skarn and porphyry-type deposits and will therefore continue to explore and refine these targets.
In addition to continuing exploration on the above projects, International PBX is actively evaluating other properties in Chile as potential acquisitions and carrying out exploration on its other properties in Chile.
BY ORDER OF THE BOARD
INTERNATIONAL PBX VENTURES LTD.