Molybdenum News Center

Copper-molybdenum project in Chile

International PBX Ventures Ltd. announces that Geotech Ltd. has completed its helicopter-borne ZTEM and magnetic surveys on the Company’s Copaquire and Huatacondo copper-molybdenum projects, located in northern Chile.

The airborne geophysical data will be analyzed to aid in the selection of drill targets for the Company’s previously announced drill program, which will commence in February, 2011 as well as for the selection of further exploration targets on unexplored areas of the property.

The airborne survey was conducted over known areas of copper and molybdenum mineralization (Sulfato and Cerro Moly) and the particular signature of these mineralized zones will be useful in identifying similar signatures in other areas in the Copaquire and Huatacondo properties.

The survey was also flown over the recently completed Titan deep penetration IP survey area, which will be the initial focus of the upcoming drill program. Comparative studies between the two geophysical surveys and subsequent drill results will be conducted in order to prioritize generated airborne survey targets over the entire property.

George Sookochoff, President & CEO of PBX, said, “We believe that this comprehensive and systematic airborne survey is an excellent tool not only to qualify new drill targets but also to get an overlook of the entire property. The Company expects to receive the results from Geotech Ltd. by the end of the month.”

The ZTEM system is one of the leading airborne geophysical systems in use today and is particularly suited to identifying large conductive ore bodies. The ZTEM system is renowned for its deep penetration, high spatial resolution and ability to detect and differentiate weak electro-magnetic anomalies at depths up to 1,500 metres.

The Copaquire porphyry includes three zones: Sulfato North, South and Cerro Moly and covers an area of about 7 square kilometres and encompasses potassic, phyllic, argillic and propylitic phases of alteration and as such possesses all the alteration characteristics ascribed to typical calc-alkaline porphyry copper systems. The porphyry has a leached cap and secondary chalcocite blanket, more typical of Andean porphyry systems like the nearby Collahuasi deposit which is exposed in the Sulfato Zone north of the Cerro Moly ridge.

Most exploration drilling to date has concentrated within a molybdenum stockwork system at the Cerro Moly Zone over an area of approximately 48 hectares. This zone remains open at depth and along the SW-NE long axis of the mineralized trend.

The Cerro Moly Zone is related to the emplacement of a distinct and younger mineralization event (Molybdenum-Rhenium stockwork) within an earlier larger porphyry copper system which hosts mostly copper mineralization.

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