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IBC Provides Update on Utah Exploration and Announces Summer Drill Program
Utah Drill Program Could Provide Strategic Value to Manufacturing Base
Vancouver, BC – May 3, 2011 – IBC Advanced Alloys Corp. (TSX-V: IB) (“IBC” or the “Company”) is pleased to provide an update on its Utah exploration program of its Juab County properties located adjacent to the Spor Mountain Mine. Further to previous news releases, IBC has completed the data analysis of the 718 square kilometre airborne geophysical survey of these properties flown in 2010 and has developed an exploration program for the Company’s beryllium claims in Juab County, Utah.
“We are excited to be planning our summer drill program and to quantify our upstream assets which may be a vitally important component of IBC’s vertically integrated mine to market business strategy. IBC hopes that this property will not only support our downstream manufacturing initiatives, but also our R&D efforts in areas such as alloy development and beryllium oxide enhanced nuclear fuels,” explained Anthony Dutton, President and CEO of IBC. “Our manufacturing businesses are growing and at the same time we are developing new technologies and new business opportunities where we hope that our upstream assets will play an increasingly important role as we strive to deliver growth in shareholder value.”
The completed data analysis has identified a number of high interest target zones (“TZ”) and an exploratory drilling program has been developed to begin testing these target zones in the northern portion of IBC’s extensive claim block. The Company expects to conduct the first phase of the drill program during this year’s field season following which the Company can begin to quantify its upstream beryllium mineralization.
The drilling program consists of up to 35 holes in the Topaz Mountain West and Sand Pass NE quadrangles totalling as much as 5,250 metres of reverse circulation drilling to test target zones in the volcanic tuff and in the underlying Bell Hill Dolomite unit along and on either side of a N 30° E-trending fracture zone in the claim area immediately south of the Starvation Canyon Wash. These holes will test the presence and concentration of fluorite-bertrandite replacement of dolomite fragments as in Materion’s (formerly Brush Wellman) nearby mine pits and will penetrate the volcanic tuff layer to test the underlying Bell Hill Dolomite for hydrothermal alteration and the presence of fluorite and bertrandite mineralization.
Exploratory drilling permit applications presently are being prepared for submission to the Bureau of Land Management and the exploration program can commence in mid-summer pending permit approval. Drilling activities are expected to be completed within 90 days with final laboratory results and petrographic work completed approximately 30 days thereafter.
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 9,500 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”.
IBC Advanced Alloys Corp. - Contact
Ian Tootill, Director of Corporate Communications
(604) 685-6263 ext 110
This news release was prepared by management of IBC, which takes full responsibility for its contents. 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.
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 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.