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 PROPERTY, CHILE
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 g/t
gold.
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
Terry Walker
PRESIDENT, DIRECTOR
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
Gary Medford, PhD., P. Geo.
Director
604 681 7748
E mail: [email protected]
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Robert A. Young
Robert A. Young and Associates
Toll Free 1-877 626 2121
E mail: [email protected] |
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