PBX-V
The Copaquire Project Chile An Advanced Copper – Molybdenum Project in the Land of Giants October 2010
Copper Moly Porphyry Belt of Chile The Highest Concentration of Copper in the World
Most major copper molybdenum porphyry deposits in northern Chile occur in Domeyko Fault System (Copper Porphyry Belt) This belt contains the highest concentration of copper in the world. Copper Mine
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Copaquire Surrounded by Giants
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Copaquire’s Neighbouring Mines Teck Resources Quebrada Blanca Mine 1 Billion tonnes @ 0.5% Copper & 0.02% Moly 10 kms from PBX’s Copaquire
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Copaquire’s Neighbouring Mines Xstrata/Anglo America Collahuasi Mine 5.2 Billion tonnes @ 0.8% Copper & 0.02% Moly 15 kms from PBX’s Copaquire
Ujina Pit
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Similar Alteration to Nearby Mines
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Infrastructure
Xstrata/Anglo American Collahuasi Mine Teck Resources Quebrada Blanca Mine
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Copaquire History 2004-2009
2004: PBX purchases property – 100% ($2.1 m) 2005-06: Wide space drilling identifies near surface supergene copper zone in Sulfato north and south copper zones and high grade molybdenum in Cerro Moly area. ($2.8 m) 2007-08: Molybdenum price soars from $4/lb to $40/lb. PBX drills Cerro Moly zone which is low grade copper but high grade molybdenum. ($7.6m) 2009: Completes 43-101 resource on Cerro Moly. Engages AMEC Engineering for Preliminary Assessment Report (Scoping Study). ($0.25m) Report completed and suggests 36,000 tpd mine plan Total Expenditures 2004-2009: $12.75 million
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AMEC Engineering Scoping Study Proposed Mine Site and Open Pit Design
A Sulfato North Sulfato South
Cerro Moly
B
The 2009 Scoping Study provides economic base to build on: • Resources at Copaquire will be mined by open-pit • 36,000 tonnes of mill feed per day • 24 year mine life • Total production 785.4 million lbs of copper and 166.4 million lbs of molybdenum • Operating cost of $7.15 US$/t.
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Aggressive 2010 Work Program Continues to Add More Value 1.
2010: Drilling returns to Sulfato south copper zone to locate higher grade copper. First drill hole intercepts 257m @ 0.57% Cu, including 139m @ 0.82% Cu and 14m @ 2.0% Cu.
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Work begins on 2nd copper porphyry (West Property) Exploration begins on 2nd copper porphyry – Marta Bulldozer trenching reveals: a) 500m wide mineralized skarn zone located between Copaquire & Marta porphyries b) High grade quartz molybdenum stockwork zone similar to Cerro Moly zone in Copaquire porphyry c) Extensive copper oxide and chalcopyrite porphyry mineralization south of Huatacondo valley. d) Extensive porphyry copper mineralization and a significant copper intrusive breccia (2.04% Cu initial results)
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1 d
b a
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2 c
PBX initiates Titan Deep Penetration IP Survey across both porphyries to test depth of known (Cerro Moly) and new mineralized systems (Marta).
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Titan Deep Penetration IP Survey Identifies 9 New Targets
Resistivity Low Anomaly
1. Titan IP survey delineates nine large targets across width of Copaquire project 2. Successfully detects existing copper mineralized resource at Cerro Moly, validating quality of data 3. Large areas of surface mineralization coincident with subsurface IP anomalies. 4. Titan successfully used in nearby near by Collahuasi project for the discovery of Ujina copper porphyry deposit (1.2 billion tonnes). 11 Resistivity low anomaly (similar to Copaquire IP anomalies) was key target for Ujina discovery drill hole – 62meters @ 2.03% Copper.
Titan 24 Deep Penetration IP Survey Key to Neighboring Ujina Copper Deposit Discovery – 1.2 Billion Tonnes @ 0.8% Copper
Rosario Deposit
Ujina Deposit
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Comparative N-S & E-W Sections Scoping Study
N-S Cross Section 43-101 Resource
Resistivity Low Targets
Titan E-W Cross Section – 9 Titan Targets Selected for Drilling
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2010-11 Work Program
Sulfato Zones IP Survey to define drill targets for further resource expansion
Drill Target
Marta Area
Cerro Moly Resource
Drill Location
Marta Area Drill IP Targets to expand mineralization
4.4 kms
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Copaquire Highlights 1. Location: Chile - mining friendly and largest copper producer in the world. 2. Located in copper porphyry belt of Chile, containing the highest concentration of copper in the world 3. Property completely surrounded by majors. 4. Potential synergies with 2 nearby operating mines – Quebrada Blanca & Collahuasi. 5. Positive Preliminary Assessment (PA) by AMEC Engineering projects 24 year mine life @ 36,000 tpd mill rate. PA covers only one mineralized zone (15% of Copaquire porphyry). 6. Project economics is highly leveraged to additional copper. 7. Tremendous copper potential remains in Sulfato North & South (N-S) and now west side of property (Titan targets E-W) 8. Company planning drill program for Titan targets with numerous majors watching 9. Exit Strategy: Maximize asset value and then sell to a Major.
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Corporate Information Corporate Office: Canada #209-475 Howe St. Vancouver, B.C. V6C 2B3 Ph: 604-681-7748 Fx: 604-681-0568 Em: corpdev@internationalpbx.com Web: www.internationalpbx.com
Stock Details (as of September 15, 2010) Shares Issued: 88,979,815 Options: 6,650,000 Warrants Issued: 4,735,000 Fully Diluted: 100,364,815
Corporate Office: Chile 2325 Gabriela Mistral La Serena, Chile Ph: 56-51-299-275
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Copper Rises to 26-Month High in London as China's Manufacturing Increases (Sept. 29, 2010)
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