May
15 , 2003
IVU-V UPDATE
EL TABACO, CHILE DRILL PROGRAM PROGRESSING
WELL
The company has completed four holes of its planned 5000 metre
reverse circulation drill program on the Tabaco copper-gold-silver
property in Chile.
The first hole tested copper oxide mineralisation
and an induced polarization target obtained by the company
last year. This hole passed through 22 metres of surface leached
rock followed by 40 metres of oxide copper mineralisation,
10 metres of secondary sulphides (chalcocite and bornite)
with minor primary sulphide (chalcopyrite and pyrite) and
then 68 metres of primary sulphides (chalcopyrite and pyrite)
occurring as coarse blebs and patches in a silicified matrix
and associated with quartz-feldspar veinlets. This hole was
stopped at 140 metres due to water and did not penetrate to
the heart of the IP anomaly. This IP anomaly is at least 2.4
km long and this hole demonstrates that it is in part caused
by primary copper sulphide (chalcopyrite) mineralization.
The three remaining holes were drilled to
test known copper oxides from previous drilling and all three
cut intervals of readily visible green copper oxides; 36metres
in hole 2, 38 metres in hole 3 and 22 metres in hole 4.
Samples from the four holes have been delivered
to ALS-Bondar Clegg in Chile and assay results for copper,
gold and silver are expected next week
Drilling continues and will shift to diamond
drilling to obtain deeper tests of the IP anomaly. Management
is very pleased with the results thus far.
BY ORDER OF THE BOARD
"Gary Medford, PhD., P.Geo."
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
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INTERNATIONAL PBX VENTURES LTD.
608-475 Howe Street
Vancouver, BC CANADA V6C 2B3
Toll-Free: 888-999-7748
Tel: (604) 681-7748
Fax: (604) 681-0568
www.internationalpbx.com
Email: [email protected]
Trading Symbol: IVU - Canadian Venture
Exchange
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