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
February 16, 2004
TIERRA de ORO PROPERTY, CHILE - ESCONDIDA
ZONE GOLD ASSAYS
International PBX Ventures Ltd. is pleased to report additional assays
from detailed surface mapping and sampling programs on its wholly owned,
4056 hectare Tierra de Oro property which covers the Sierra Chanchero
gold camp containing over 35 linear km of gold bearing structural zones
ranging from 50 to 300 metres in width.
Escondida is a 100 to 150 metre wide zone of numerous, multi-directional,
gold-quartz-iron oxide bearing structure ‘veins’. The central
15-20 metre wide core of which contains five persistent 1-3 metre wide
‘main veins’ along which are numerous old near surface workings.
Nine hundred metres of this system was sampled in detail in 1998 and yielded
gold assays ranging from 0.88 to 42.1 g/t.
The new results are “vein” and wall rock chip sample assays
from a further 200m length of the structure adjoining and north of the
1998 results. The ‘vein’ assays range in value from 0.63 g/t
to 7.93 g/t gold and in widths from 1.0 to 2.1 metres. The weighted average
grade of the twelve ‘vein’ assays received so far from this
extension is 4.25 g/t over 1.4 metres. The weighted average grade of all
forty six of the ‘vein’ assays from the 1100 metres of the
Escondida zone sampled to date is 7.09 g/t over 1.45 metres. Higher assay
values include;
Sample
# |
Gold
(g/t) |
Width
(m) |
Sample
# |
Gold
(g/t) |
Width
(m) |
| 70992 |
5.40 |
1.3 |
219247 |
3.38 |
1.2 |
| 70995 |
4.01 |
1.0 |
235941 |
9.00 |
1.3 |
| 70996 |
4.70 |
1.0 |
235944 |
7.80 |
1.4 |
| 70999 |
5.02 |
1.3 |
235948 |
3.61 |
1.5 |
| 71000 |
42.10 |
1.3 |
235949 |
3.34 |
1.3 |
| 71001 |
4.03 |
1.5 |
235950 |
3.20 |
1.4 |
| 71002 |
18.80 |
1.3 |
235958 |
9.30 |
2.1 |
| 71003 |
4.63 |
1.5 |
235959 |
27.00 |
1.7 |
| 71005 |
4.82 |
1.4 |
10497 |
4.02 |
1.3 |
| 71006 |
5.35 |
1.4 |
10498 |
6.02 |
1.3 |
| 71007 |
4.01 |
1.5 |
10505 |
4.02 |
1.7 |
| 219244 |
6.14 |
1.9 |
10642 |
7.93 |
1.4 |
| 219245 |
3.81 |
1.6 |
10644 |
4.12 |
1.4 |
Chip sample assays from the intervening wall rocks (i.e.
areas between high-grade veins) range from 0.2 to 0.8 g/t gold and average
about 0.4 g/t gold.
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 either Acme Analytical Laboratories, Santiago
(1998) or ALS Chemex Laboratory, Coquimbo.
The sampling programs continue with more results expected
soon from this very large gold camp with both underground and open pit
potential.
BY ORDER OF THE BOARD
Terrance Walker
President, Director
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 protection
Contact Robert A.Young and Associates: 1 877 626 2121
IPBX Vancouver office 604 681 7748
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