PBX Acquires Claims West of its Copaquire Copper - Molybdenum - Rhenium Project
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NEWS RELEASE
PBX Acquires Claims West of its Copaquire Copper - Molybdenum - Rhenium Project
January 18, 2010
VANCOUVER, B.C. – International PBX Ventures Ltd. (the "Company") (TSX.V:PBX) is pleased to announce that it has acquired an additional 2,100 hectares (21 sq.kms) in the prolific Chilean coppermolybdenum porphyry belt. The Huatacondo claims are located 8kms west of the Company’s whollyowned Copaquire Copper-Molybdenum-Rhenium property.
Both the Huatacondo and Copaquire claims are located in the Quebrada Blanca district of the coppermoly porphyry belt. In some districts of the porphyry belt, there is more than one deposit, thus defining a cluster. The Quebrada Blanca cluster consists of four copper-moly deposits: Teck Resources’
Quebrada Blanca, Xstrata/Anglo American’s Collahuasi Ujina and Collahuassi Rosario and PBX’s Copaquire (“The Geology of Chile” Published by The Geological Society of London). The copper-moly deposits in this cluster are distributed transversely (E-W) to the Domeyko fault. The Huatacondo claims are situated in this East-West trend.
George Sookochoff, President and CEO, said that “While the Huatacondo claims are early stage, we believe they represent quality exploration targets at low entry costs in a region known to host numerous copper-moly porphyries.”
PBX recently completed a positive independent Preliminary Assessment (PA) on the Copaquire project. The National Instrument 43-101 ("NI 43-101") compliant study completed by AMEC International (Chile) S.A ("AMEC") suggests a mine capable of producing approximately 785.4 million lbs of copper and 166.4 million lbs of molybdenum over a 24-year mine life at an operating cost of $7.15 US$/t.
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.