10 , 2003
EL TABACO, CHILE: HOLES 3-7: MORE OXIDE: PORPHYRY SYSTEM AT
Holes 3 and four have been completed at the southeast margin
of the known oxide system. Hole 3 has intersected 10 metres
of 0.76 percent copper between 30 and 40 metres and hole 4
cut a section from surface to 15 metres of 0.57 percent copper
excluding a 3 metre section drilled through old underground
workings. The grade of material removed is unknown but is
likely in excess of 3 percent copper based on assays of dump
material. These holes compare favourably with the 1963-64
drilling. The objective of this work is to substantiate the
results of the early program.
Holes 5-7 were driven from the outside of
the original copper oxide boundary to follow up on shallow
induced polarization (IP) features. Hole 5 was highly anomalous
in copper from top to bottom at 160 metres and also intersected
18 metres of 0.42 percent copper as chalcopyrite between 50
and 68 metres. This hole also cut traces of chalcopyrite (12m)
between 128 and 140 metres and is otherwise in pyritic skarn.
Holes 6 and 7 were also anomalous in copper but predominantly
The above holes, including well-mineralized
hole 1, are believed to be peripheral shallow level tests
of a much larger more coherent IP target at depth that has
been defined by a recently completed deeper penetration IP
survey. Evidence of porphyry style mineralization has been
observed in holes yet to be reported and the company believes
that we have thus far only tested upward reaching fingers
of a deeper seated main mineralized body with minimum dimensions
2.4 km by 300-500 m.
We have completed 1800 metres of drilling
and will continue with the deeper drilling required to fully
evaluate the property.
BY ORDER OF THE BOARD
"Gary Medford, PhD., P.Geo."
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]
Trading Symbol: IVU - Canadian Venture