North American Gem Inc V.NAG

PBX...drilling started

[SUCYN]

Press Release Source: International PBX Ventures Ltd. On Monday March 21, 2011, 3:00 pm
VANCOUVER, BRITISH COLUMBIA--(Marketwire - 03/21/11) - International PBX Ventures Ltd. (TSX-V:PBX - News)is pleased to announce that the 2011 drill program is now underway onits Copaquire copper-molybdenum porphyry project in northern Chile.
Theobjectives of the drill program are to delineate copper resources inthe South and North Sulfato Copper zones. The South Sulfato zone isadjacent to the Cerro Moly zone where the company announced in Dec. 2009a 43-101 resource of 229 MT Indicated @ 0.07% MoEq (197 million poundsmolybdenum & 560 million pounds copper) and 194MT Inferred @ 0.07%Moly Eq (111 million pounds molybdenum & 623 million pounds copper).The Cerro Moly zone is a younger molybdenum-copper-rheniummineralization event within a larger porphyry copper system (Sulfato) incontact with meta-sedimentary rocks. A 2009 Preliminary Assessment (PA)report completed by AMEC Engineering indicates the resources at CerroMoly can be mined by open-pit, and AMEC has developed an ultimate pitand selected a scoping level production plan to process 36,000 tonnes ofmill feed per day over a 24-year mine life.
A limited 2010 drillprogram outside the immediate perimeter of the Cerro Moly zone andwithin the South Sulfato zone intercepted 267 metres @ 0.57% Cuincluding 140 metres @ 0.82% Cu and 14 metres @ 2.0% Cu. Follow-updrilling in this area will continue this year.
A further objective ofthis year's program is to test geophysical and geological targets inthe largest porphyry complex identified thus far at Copaquire (the Martaporphyry system), which has never been drilled before. A recent TitanDeep Penetration IP survey (NR Sept. 15,2010)revealed several large geophysical targets beneath the surface copperand molybdenum mineralization in the Marta area and a 2011 Airborne ZTEMsurvey confirmed the presence of a large porphyry system.(NR Feb.10,2011).

RE: New PR--Drilling Started

westwind422

3/21/2011 3:46:24 PM | | 4 reads | Post #29459057

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As in thepast, seems the market won't recognize the news is even out there untiltomorrow. This may be the best price you can get if you missed out onlast week's super sale.

It's not to late.

GOT PBX? Better get some now if you haven't gotten any yet!

SUCYN