INTERNATIONAL CROESUS
VENTURES CORP.
NEWS RELEASE
April 11, 2006
ICU COMPLETES GEOPHYSICAL SURVEY, AND EXPANDS LAND
POSITION IN AU-VMS BELT IN WESTERN JALISCO STATE, MEXICO.
International Croesus Ventures Corp. (TSXV – ICU) is pleased to announce that it has
completed a 1926 line kilometre helicopter–borne geophysical survey over its 100%
owned Jalisco Au-VMS project area. The survey was done by Fugro Airborne Surveys,
Helicopter Division of Toronto, Ontario. Radiometric, magnetic and electromagnetic
data were collected on flight lines spaced 200 metres apart over the entire 29,175 Ha
Property. The survey was then extended to explore electromagnetic anomalies that
extend beyond the Property limits. In addition, a large block of ground, “El Volantin”,
covering these anomaly extensions and including large areas underlain by the Mesozoic
volcanic sequence, were subsequently applied for (41,051 Ha) and ICU’s land position
now totals 69,226 Ha and covers most of the middle Jurassic Au-VMS Belt between the
historic camps of Cuale, Amaltea, Cuatro Minas, Aranjuez, El Rubi and Bramador.
High Ag-Au values characteristic of past producers in the area, are associated with high
concentrations of Sb, As, Hg and Ba, geochemical characteristics that are typical of AuVMS deposits, a subclass of VMS deposits with high precious metal grades that includes
the middle Jurassic Eskay Creek deposit. Based on inspection of the preliminary
geophysical maps, 13 targets with Au-VMS potential have been identified, mostly
between Bramador and Talpa de Allende.
One of the most significant targets is a 13 kilometre long, semi-continuous
electromagnetic (EM) anomaly that appears to be stratiform as it shows the same
geometry as the host strata around the axis of the Bramador Syncline. The strongest part
of the EM anomaly is located on the west limb of the Syncline, about 300 metres east of a
surface outcropping of siliceous exhalite hosted in silicified felsic fine tuff intercalated
with black argillite. In the volcanogenic massive sulfide deposit model, exhalites are
located stratigraphically above and laterally distal to ore-grade massive sulfide lenses,
and are characterized by anomalous concentrations of base metals and pathfinder
elements. One stream sediment sample from a creek incising the Bramador exhalite
205 – 16055 Fraser Highway, Surrey, B.C. V3S 2W9
Telephone: (604) 507-2181
2
contains 579 ppm Ba, 87 ppm Cu, 16.3 ppm Mo, 1 ppm Ag, 632 ppm Zn, 22 ppm Pb,
19.2 ppm As and 4.8 ppm Sb (sample 13545). The geochemistry is typical for a
weathering exhalite in that it contains high Ba and Zn, but lacks high Pb and Cu that is
more typical of weathering massive sulfides in the Jalisco Au-VMS camp. Preliminary
EM data suggests that the exhalite might thicken into a buried massive sulfide 300 to 600
meters to the east. Near the hamlet of Bramador, massive sulfides do not outcrop on
surface, but there are several abandoned mine shafts on the order of 10 to 30 metres deep
in the axial zone of the Bramador Syncline.
Northeast of Bramador, there is a series of strong electromagnetic anomalies aligned
along the contact zone between a magnetic, feldspar megacrystic diorite porphyry and
older Mesozoic volcano-sediments over a strikelength of at least 10 kilometres from
southwest of Aranjuez to the town of Talpa de Allende. On surface, the anomalous trend
is marked by brick-red gossans. The reddish color suggests the presence of high levels of
mercury. Sediments hosting the sulfides are characterized by early massive silicic
alteration cross-cut by chloritic stringers with sulfides and sulfosalts. No significant EM
anomalies are associated with the mineralization at either Cuatro Minas or Amaltea.
The airborne survey and reconnaissance prospecting have clearly identified the
Bramador-Talpa de Allende trend as a priority target for Au-VMS deposits. Fugro is in
the process of preparing a formal interpretation of the geophysical data, which is
expected to be delivered to the Company by the end of April. ICU is planning a detailed
exploration campaign to follow up these results and to prioritize targets for subsequent
drilling.
Michelle Robinson, P.Eng., a director of the Company and a qualified person as defined
by National Instrument 43-101, is responsible for the preparation of technical information
in this News Release.
ON BEHALF OF THE BOARD
“ALASTAIR J. SINCLAIR”
Alastair J. Sinclair, Ph.D.
President
The TSX Venture Exchange has not reviewed, and does not accept responsibility for the adequacy, or accuracy of this release.