- 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
July 30, 2004
SIERRA PINTADA, CHILE -
HIGH GRADE COPPER-GOLD ZONES DEFINED
International PBX Ventures Ltd. is pleased
to report high grade copper-gold results from ongoing surface
sampling on its wholly owned, 3300 hectare Sierra Pintada
property, which covers 15 kilometres of the Atacama Fault
zone in the Chilean Coastal cordilleran copper-gold belt 650
kilometers north of Santiago.
The Company’s prior exploration program identified two
strong copper and gold-bearing mineralised structures, Viña
and Gloria, each at least 15 kilometres in length and 50 to
200 metres in width. Wherever these structures emerge from
beneath overburden they are the centers of numerous prospect
pits, adits and shafts to depths of 50 metres on high grade
Cu-Au (Ag, +/- Co) and Au-Cu (Ag) fissure veins from 1-5 metres
in width. Previously mined ore typically graded 3 - 5% Cu
and 1 - 5 g/t Au for the former, and 10 - 50 g/t Au and 1
- 5% Cu for the latter.
This news release comprises assays from detailed chip sampling
and residual soils from the northernmost 1500 metres of the
western Viña structure. This structure consists of
a 50 - 150 metre wide zone of shearing, brecciation, strong
hematite-clay-limonite +/- quartz alteration, and widespread
oxidised copper mineralisation. Numerous old trenches, adits
and open cuts from 1- 10 metres wide on multi-directional
shears, with conspicuous green oxide copper minerals, are
present throughout this sector.
Results received to date are from a series of 72 representative
chip samples cut across the mineralised shears exposed in
the old workings, and residual soils collected at 25 metre
intervals on 100m spaced lines running orthogonal to the general
structural strike. Chip sample results range from 0.2% to
8.0% copper and 0.1 g/t to 2.5 g/t gold over 1 - 5 metre widths.
The old workings from which the bulk of these samples were
taken occur in two principle areas.
The southern area is 700 metres long and 50 -125 metres wide.
The old pits, trenches and shafts sampled are developed on
4 to 8 principle shears within a central 20-30 metre wide
zone, and give a weighted average grade of 1.37% copper and
0.25 g/t gold over an average width of 2.1 metres. The other
area 600 metres to the north is 200 metres long and 30-50
metres wide. The samples from these old workings give a weighted
average grade of 1.77% copper and 1.39 g/t gold over an average
width of 1.7 metres.
These two areas of old workings are separated by an area of
shallow cover, however, a copper - gold soil anomaly
with peak values to 1.98% copper and 0.39 g/t gold suggests
continuity of the mineralised structure between them.
In this sector of the Atacama Structural zone there are numerous
centers of past high grade copper, gold, silver and cobalt
mining such as Carrizal Alto, Estillas and Capote with past
production ranging from 550 million to 850 million pounds
of copper and 300,000 to 1,500,000 ounces of gold.
Sierra Pintada is an early stage exploration project but with
definable open pit resource potential in several of the previously
mined areas of both Viña zones. It is also possible
that this surface mineralization is centered above a deeper
Andacollo style porphyry copper - gold system as has
been suggested for Carrizal Alto to the north.
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 samples were analysed in Chile at the ALS-Chemex
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 protection.