International PBX Ventures has released additional encouraging results from the current resource expansion and in-fill drilling at its Copaquire porphyry copper property, northern Chile.
The 2011 infill drilling campaign relentlessly shows the Sulfato South region, which has consistent fine mineralized copper zone with large dimensions and shows the prospective for a main extension of Copaquire’s copper resources.
The company is continuing drilling at the hole CQ-111 and will release the additional results upon receipt.
The CEO and President of the company, has commented that the results of the holes CQ-111 and CQ-112 assist the company’s management to convey more confidence about the confirmation of the geological model.
Copaquire’s latest geological model includes copper mineralization that is controlled structurally by the north-south trending faults and multi-phase interruptions. This model is along these north-south gaps that have several hydrothermal activity episodes in the form of hydrothermal and intrusive breccias, along with fracture filling have encroached a porphyritic quartz monzonite and a shallow metasediments series, where the substitute mineralization has expanded.
PBX geologists perform conceptual modeling at the Sulfato South Zone and suggest that there is potential to include material up to 300-500 Mt averaging 0.4 to 0.6% copper.
The company has planned to complete the latest resource estimate for the Sulfato South copper zone in the fourth quarter 2011 and this estimate will be utilized to update PBX’s 2009 Preliminary Economic Assessment.
Given the consistent encouraging copper results from the Sulfato area, the Company has scheduled to speed up the drilling program by adding up a third drill rig, which is to be situated at Sulfato North copper zone. The company is currently discussing to receive the third drill rig.
Source: http://www.internationalpbx.com/