International PBX Ventures (PBX) has updated the phase I diamond drilling campaign, totaling 5,000 m, at its Copaquire porphyry property, which has copper and molybdenum mineralization, in northern Chile.
The company has planned for an infill drilling at the Sulfato south zone to expand and substantiate the latest copper resources occurring at the Copaquire project in the regions north and contiguous to the formerly published estimated resources at the Cerro Moly zone. These Sulfato South regions contain major copper mineralization.
The company has obtained the latest analytical results of the drill hole CQ-113 at the Sulfato South.
The location of the drill hole CQ-113 was 200 m to the north of the formerly proclaimed hole CQ-111, which cut 0.55% CuEq over 46 m. PBX chose the hole site to examine the continuation of northward mineralization.
The CEO and President of PBX, has stated that all the drill holes of the 2011 drilling campaign has yielded consistent copper mineralization and have authenticated Copaquire porphyry’s latest geological model. There is good mineralization continuity both vertically and laterally and the copper mineralization stays open in all the directions.
Copaquire’s recent geological model includes multi-stage intrusions and the copper mineralization, which is structurally directed by the north-south trending faults. It is located along these north-south gaps with numerous hydrothermal activities having the form of hydrothermal and intrusive breccias, along with fracture filling, have interrupted a porphyritic Quartz Monzonite intrusive and additionally interrupted a shallow metasediments sequences where fracture filling, replacement and breccia mineralized copper has developed.