608 - 475Howe Street
Vancouver, BC Canada V6C 2B3
TEL: (604) 681-7748 • FAX: (604) 681-0568
TSX VENTURE EXCHANGE SYMBOL: PBX
EMAIL: [email protected]
WEB SITE: www.internationalpbx.com
MAY 27, 2004
NEW COPPER-GOLD-SILVER ZONES ON TABACO
International PBX Ventures Ltd. is pleased to report
extremely encouraging copper, silver and gold results from recently completed
detailed surface mapping, sampling and ground magnetic surveys along the
Carmen-Tabaco oxide zone as well as both strike extensions of the copper-rich
skarn partially drilled in 2003. A summary of this discovery and prior
drilling can be found in the company’s September 30, 2003 news release.
The 300 to 500 metre wide Main altered skarn horizon
hosting the bulk of the copper oxide and sulphide body has now been traced
for over 3 km in length and is generally reflected by enrichment in soils
of up to 0.5 per cent copper. Starting from 300 metres north of the northern
edge of the prior work area, the eastern edge of this soil anomaly shows
a strong increase in gold content from 0.13 g/t to a high of 3.09g/t.
An irregular magnetic high is generally coincident with this zone and
reflects disseminated to massive magnetite which commonly occurs with
the copper sulphide body discovered by drilling.
In addition to the Main skarn horizon extensions,
at least two other mineralized horizons with similar geological, geochemical
and magnetic signatures have been discovered up slope to the west. The
uppermost or western zone contains gold in soils up to 10 g/t on its northern
edge and this remains open to further expansion.
Continuous chip sampling (3 metre samples) carried
out southeast of the 2003 drilling area, that crosses the north trending
Carmen-Tabaco copper oxide zone in two places, 150 metres apart, has reported
very significant results.
The weighted average grade of the 63 metres of outcrop exposed in the
southernmost crosscut is 1.03 per cent copper, 26.3 g/t silver and 0.03
g/t gold. This includes a 27 metre core zone through the Carmen structure
grading 1.97 per cent copper, 56.8 g/t silver and 0.042 g/t gold. The
best 3 metre sample here is 5.09 per cent copper, 300 g/t silver and 0.24
The weighted average grade of the 150 metres of
outcrop exposed in the northernmost cut is 0.51 per cent copper, 5 g/t
silver and 0.042 g/t gold. This includes a 63 metre core zone through
the Carmen structure grading 0.98 per cent copper, 9 g/t silver and .084
g/t gold. The best 3 metre sample here is 3.93 per cent copper, 19.2 g/t
silver and 1.15 g/t gold.
The above zone is believed to be over 200 m wide
but it has not been completely exposed by the above two cuts.
The company is remobilizing a crew to follow up on these excellent results
prior to initiating further drilling. The number, size and economic potential
of the copper, silver and gold zones on Tabaco continues to expand.
All samples were collected by experienced samplers and geologists under
the supervision of T. Walker, MSc.,P.Geo, the designated qualified person
as defined by NI 43_101. All samples were analysed in Chile at the ALS
Chemex Laboratory, Coquimbo.
BY ORDER OF THE BOARD
The TSE 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
|Gary Medford, PhD., P. Geo.
604 681 7748
E mail: [email protected]
|Robert A. Young
Robert A. Young and Associates
Toll Free 1-877 626 2121
E mail: [email protected]