PBX CONTINUES HYPOGENE COPPER June 15, 2010 VANCOUVER, B.C. – International PBX Ventures Ltd. (the "Company") (TSX.V:PBX) provide the following update on the Sulfato South drill program at Company has now received assay results for CQ As previously announced the original zone of higher grade copper mineralization that could provide a “starter pit” for in a recent Preliminary Assessment (PA) by AMEC Engineering molybdenum deposit. Based on the results of CQ South drill program to systematically drill test the hypogene mineralization below the known supergene enrichment zone. All drill holes completed mineralization.
As the drilling is now located in the transition zone between the higher molybdenum grade Cerro Moly zone and the higher grade copper Sulfato copper zone, and as the PA has shown that molybdenum both contribute to the economic value of the project, now include Copper Equivalent values
NEWS RELEASE
TO INTERSECT WIDE INTERVALS
COPPER MINERALIZATION AT COPAQUIRE
PROPERTY, CHILE International PBX Ventures Ltd. (the "Company") (TSX.V:PBX) provide the following update on the Sulfato South drill program at its Copaquire project in Chile Company has now received assay results for CQ-100, CQ-101, CQ-102 and CQ-103.
As previously announced the original objective of the current drill program was to define a near surface zone of higher grade copper mineralization that could provide a “starter pit” for the mine in a recent Preliminary Assessment (PA) by AMEC Engineering at the adjoining Cerro Based on the results of CQ-100 a decision was made to expand the Sulfato South drill program to systematically drill test the hypogene mineralization below the known supergene enrichment zone. All drill holes completed to date have encountered significant intervals of copper located in the transition zone between the higher molybdenum grade Cerro Moly zone and the higher grade copper Sulfato copper zone, and as the PA has shown that e economic value of the project, the company feels it is important to Copper Equivalent values in the drill results.
Table 1: Assay Results
NEWS RELEASE #209 – 475 Howe St., Vancouver, B.C. Canada V6C 2B3 Tel: (604) 681 Toll Free: 1 Fax: (604) 681 Web: www.internationalpbx.com INTERVALS OF COPAQUIRE International PBX Ventures Ltd. (the "Company") (TSX.V:PBX) is pleased to project in Chile. The 103.
to define a near surface the mine plan proposed at the adjoining Cerro Moly copper – 100 a decision was made to expand the Sulfato South drill program to systematically drill test the hypogene mineralization below the known supergene to date have encountered significant intervals of copper located in the transition zone between the higher molybdenum grade Cerro Moly zone and the higher grade copper Sulfato copper zone, and as the PA has shown that copper and the company feels it is important to
475 Howe St., Vancouver, B.C. Canada V6C 2B3 Tel: (604) 681-7748 Toll Free: 1-877-681-1154 Fax: (604) 681-0586 www.internationalpbx.com
Copper equivalent (CuEq%) = Cu% + 5 x Mo% Copper Equivalent is based on US metal prices of: copper - $ 2.00/lb; Molybdenum - $10/lb Metallurgical recoveries and net smelter returns are assumed to be 100%.
Drill holes CQ-101 and CQ-103 were drilled along section L-200 approximately 85 meters NW of the well mineralized copper zone discovered in hole CQ-100. Drill hole CQ-101 was a vertical hole designed to test the intrusive porphyry away from the contact with meta-sediments to the east. Mineralization was intercepted near surface with 46.0 meters of 0.49 %CuEq including 22.0 meters of 0.65 %CuEq.
Drill hole CQ-103 was drilled at 135 degree azimuth with an inclination of -60 degrees. This hole tested the behavior of the copper mineralization from the intrusive porphyry toward the contact with metasediments to the southeast. CQ-103 intercepted both high grade mineralization near surface (from 28.0 meters an intercept of 66.0 meters of 0.77 %CuEq) and continued in mineralization at significant depth (402 meters of 0.43 % CuEq).
Drill hole CQ-102 was drilled along section L-300 approximately 100 meters north of section L-200 and intercepted mineralization from a depth of 28.0m to 285.4m (257m) averaging 0.51 %CuEq. This drill and drill hole CQ-28 (previously completed drill hole along section L-300) were both stopped in strong mineralization. No drill holes have tested the true thickness of the hypogene mineralization along section L-300, George Sookochoff, President and CEO of PBX commented, “The Sulfato drill program continues to meet our objectives of delineating higher grade copper mineralization near surface as well as successfully testing the hypogene copper mineralization at depth. This drilling continues to extend the boundaries of the Cerro Moly deposit”.
For reference all current and historic drill holes are shown in plan and section view on the Company’s website http://www.internationalpbx.com/sulfato.pdf
QA/QC
A full QA/QC program, involving insertion of appropriate blanks, standards and duplicates is being employed. All drill holes are sampled on a 2 m continuous basis, with samples split on site and one half being transported by ALS Laboratories to the ALS Laboratories in Antofagasta, Chile for preparation. The samples are then transferred to ALS Laboratories in La Serena for analysis. A second half will be stored at a PBX facility for reference.
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., the qualified person under National Instrument 43-101. Mr. Victor Jaramillo has reviewed and approved the scientific and technical information contained in this release.
ON BEHALF OF THE BOARD OF DIRECTORS OF
INTERNATIONAL PBX VENTURES LTD.
“George Sookochoff” 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.