VANCOUVER, BRITISH COLUMBIA, Jun 04, 2010 International PBX Ventures Ltd. (the “Company”) (TSX V: PBX) is pleased to announce that concurrent with drilling of the Sulfato copper zone, the company has entered into an agreement with Quantec Geoscience to complete a Titan 24 IP Survey of the Copaquire Property in northern Chile. Initial results of the Sulfato drill program suggest excellent potential for expanding the size of the currently defined copper and molybdenum resource at the Cerro Moly Zone in the south eastern area of the Copaquire Property. In addition to defining potential extensions at Cerro Moly the survey will also assess several high priority copper and molybdenum targets in the central and west central parts of the Copaquire Property which have not been tested by drilling.
According to Quantec Titan 24 Magnetotellurics (MT) and IP / Resistivity (DCIP) is the leading deep earth imaging technology for delineating ore bodies to depth. Titan 24 measures to depths of 750 meters with IP and can explore beyond 1.5 kilometers with MT data. In mineral exploration (grassroots exploration and brownfields exploration), the system images conductive mineralization, disseminated mineralization, alteration, structure and geology for reliable and cost-effective targeting of drill holes to depth. In a brownfields environment, Titan 24 is effective for both minesite exploration and near mine exploration, and has been used to find new ore both in mines and nearby.
Prior to the current drill program advanced exploration at Copaquire has focused on the molybdenum rich zones within the Cerro Moly Porphyry in the south east area of the property. The current drill program is targeting the Sulfato Copper Zone which is located immediately north of Cerro Moly. The targets in the central and western areas of the Copaquire property that will be covered by the Titan 24 Survey include outcropping copper mineralized intrusive breccias, skarns and molybdenum rich stockwork zones within a second porphyry intrusive complex known as the Marta Porphyry which have never been drill tested.
The Titan 24 Survey is scheduled to commence in mid June. Results will be announced as they become available.
“The recent scoping study on the Cerro Moly copper and molybdenum resource and drill results from the Sulfato copper zone has created significant interest in the mining community,” said President & CEO, George Sookochoff. “We believe the proven track record of the Titan 24 Survey technology will demonstrate the tremendous amount of potential asset value remaining to be unlocked throughout the Copaquire property.”
The design of the 2010 Copaquire diamond drill program was planned and is being supervised by Senior Geological Consultant Mr. Victor Jaramillo M.Sc.A., P.Geo., a qualified person under National Instrument 43-101. Mr. Victor Jaramillo has reviewed and approved the scientific and technical information contained in this release.
International PBX is a junior exploration company with a strong portfolio of Copper, Molybdenum and Gold projects in Chile, all of which are 100% owned. The company has recently completed a positive preliminary assessment (scoping study) by AMEC Mining and Metals S.A. on its flagship Copaquire Copper Molybdenum project located in Chile’s prolific copper porphyry belt.
ON BEHALF OF THE BOARD OF DIRECTORS OF INTERNATIONAL PBX VENTURES LTD.
George Sookochoff, President & CEO
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.