IBC Advanced Alloys Completes First Phase of 2011 Utah Drill Program: Drill Program to Quantify Upstream Beryllium Properties...
02 December 2011 - 1:00AM
Marketwired
IBC Advanced Alloys Corp. (TSX VENTURE:IB)(OTCQX:IAALF)(PINK
SHEETS:IAALF) ("IBC" or the "Company") has completed the first
phase of the drilling program at its Juab County
fluorite-bertrandite project located in western Utah. IBC's Utah
properties incorporate 371 claims, totalling approximately 3,102
hectares (7,665 acres) and are located immediately adjacent to the
large Spor Mountain beryllium mine owned by Materion
Corporation.
Anthony Dutton, President and CEO of IBC, said, "Our drilling
and sampling program has now been completed on time and on budget
and will give us additional information towards the preparation of
a compliant National Instrument 43-101 report. In addition, we will
gain a deeper and technically sound understanding of the geology,
host mineralization and main structures as we prepare for
additional drilling and ultimately a resource estimate."
Layne Christensen Drilling, of Chandler, AZ, completed a "fence"
of 35 reverse circulation drill holes spanning the east-west extent
of the southwest flank of Spor Mountain in Juab County, Utah which
were completed ahead of schedule. This line of drill holes tested
several target zones identified in previous field work and a 2010
geophysical survey of the area.
The drill program consisted of 35 holes totalling 5,500 metres
of reverse circulation drilling to test target zones in the
volcanic tuff and in the underlying Bell Hill Dolomite unit in the
claim area immediately south of Starvation Canyon Wash. The program
collected 5,250 rock chip samples at 1-metre vertical intervals.
The approximately 252 short tons of sampled rock is being dried and
split into 250-gram portions to be shipped to the ALS Minerals
preparation laboratory in Elko, Nevada where it will be oven-dried
and then pulverized (85% passing 75 micron). The "pulps" will then
be shipped to ALS Minerals in Vancouver, BC, for analysis of
beryllium, uranium, thorium, and rare earths elements content in
addition to several other elements.
This first phase program was designed to test the presence and
concentration of fluorite-bertrandite replacement of dolomite
fragments that constitute the ore in the nearby Materion (formerly
Brush-Wellman) Spor Mountain mine pits and penetrated the volcanic
tuff layer to test the presence and concentration of beryllium in
the underlying Bell Hill Dolomite. All results will be reported as
they are received from the laboratory in order to characterize the
rock units and begin quantifying the beryllium resource within the
claim block. The Company expects to receive laboratory analytical
results from the first phase of the drill program in early 2012.
Reclamation of the roads and drill pads has commenced and reseeding
of the entire disturbed area with native vegetation is scheduled
for completion in December 2011.
IBC's Vice President of Exploration, Lee Rice, stated, "IBC is
hopeful that the results from this drill program will help quantify
the potential beryllium mineralization and to provide a strategic
resource underpinning continued downstream manufacturing growth, as
well as to support our R&D efforts such as our nuclear fuels
initiative. IBC's vertically integrated business model is
constantly evaluating new opportunities, such as nuclear fuels,
which have the potential to drive significant future beryllium
consumption."
About IBC Advanced Alloys Corp.
IBC is an integrated manufacturer and distributor of rare metals
(beryllium) based alloys and related products serving a variety of
industries including nuclear energy, automotive, telecommunications
and a range of industrial applications. IBC has 80 employees and is
headquartered in Vancouver, Canada with production facilities in
Indiana, Massachusetts, Pennsylvania and Missouri. Additionally,
IBC owns prospective beryllium properties in the western US
covering approximately 7,640 hectares. IBC is creating a dynamic
global beryllium and advanced alloys company. IBC's common shares
are traded on the TSX Venture Exchange under the symbol "IB" and
the OTCQX under the symbol "IAALF".
This news release was prepared by management of IBC, which takes
full responsibility for its contents.
This disclosure contains certain forward-looking statements that
involve substantial known and unknown risks and uncertainties,
certain of which are beyond the Company's control including: the
impact of general economic conditions in the areas in which the
Company operates, industry conditions, changes in laws and
regulations including the adoption of new environmental laws and
regulations and changes in how they are interpreted and enforced,
increased competition, the lack of availability of qualified
personnel or management, fluctuations in commodity prices, foreign
exchange or interest rates, stock market volatility and obtaining
required approvals of regulatory authorities. In addition there are
risks and uncertainties associated with mineral exploration and
manufacturing activities therefore the Company's future results,
performance or achievements could differ materially from those
expressed in these forward-looking statements. All statements
included in this press release that address activities, events or
developments that the Company expects, believes or anticipates will
or may occur in the future are forward-looking statements. These
statements are based on assumptions made by the Company based on
its experience, perception of historical trends, current
conditions, expected future developments and other factors it
believes are appropriate in the circumstances.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy of this news release. Neither TSX
Venture Exchange nor its Regulation Services Provider (as that term
is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.
Contacts: IBC Advanced Alloys Corp. Ian Tootill Director of
Corporate Communications (604) 685-6263 ext 110 (604) 687-8678
(FAX)itootill@ibcadvancedalloys.comwww.ibcadvancedalloys.com
Rubenstein Investor Relations Tim Clemensen (212)
843-9337tclemensen@rubensteinir.com
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