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Gold/Mining/Energy : International PBX Ventures - IVU

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To: W.F. Schwertley who wrote (20)	8/9/1997 10:23:00 PM
From: Bo Bob Brain	of 40

From the Princeton Mining 1996 annual report, March 1997: Tierra de Oro, previously referred to as the Jacqueline Project, is an early stage exploration project in a highly prospective area of northern Chile. Located 70 kilometers south of Copiapo, the project has potential for Candeleria-style copper/gold deposits(plus 300 million tonnes at 1% copper and .02-.03 g/t gold), copper/silver-bearing manto style deposits and gold-bearing skarn deposits. Minera Princeton holds exploration concessions covering approximately 9300 hectares at the Tierra de Oro property. While Vancouver-based International PBX Ventures Ltd. is currently earning a 75% interest in the project by funding all exploration activities, Minera Princeton retains a back-in-right to earn a 51% interest in the property. Exploration to date at Tierra de Oro has identified a number of target areas with surface mainfestations on mineralization that warrant follow-up evaluations. The current program of mapping, sampling, trenching and geophysics is being funded and carried out by International PBX. Drilling is planned later in 1997.

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