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Gold/Mining/Energy : International PBX Ventures - IVU

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To: Eric Rojas who wrote (5)	1/24/1997 9:28:00 PM
From: Eric Rojas	of 40

IVU was up 35 cents today closing at 1.75.....the fundamentals of Tierra de Oro are starting to show their value , see the most recent news below...very technical but if I understand this in simple terms, they have all the indicators for a large discovery...... Eric nternational PBX Ventures Ltd - News Release Tierra de Oro, Chile drill results International PBX Ventures Ltd IVU Shares issued 5981273 1997-01-23 close $1.4 Thursday Jan 23 1997 News Release Mr Terence Walker reports The southernmost 48 metres of trench 1 averaged 2.02 g/t (0.06 oz/t) gold. Values increase to the south corresponding to the development of an an IP chargeability high which expands southwards under deeper overburden. Gold values are strongly correlated with pyrite content and so drift testing of the chargeability anomaly may yield significant results with large tonnage potential. Trench 2, 400 metres southwest of trench 1 was found to have at the north end, 0.73 g/t (0.021 oz/t) gold over 42 metres. Again, drill testing will be required to further evaluate the extent of this zone. For comparison purposes, gold content at the Refugio deposit is approximately 0.9 g/t. The trenches were cut in a highly altered and leached rubble rock that is comprised of quartz, iron oxides (after pyrite) and extensive carbonate. On a district and property scale, this material is observed to grade downwards into similar material minus the carbonate. Almost invariably, the carbonate-free material yields better gold values but a drill program will be required to reach the lower horizon.

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