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IBC Advanced Alloys Completes First Phase of 2011 Utah Drill Program
Drill Program to Quantify Upstream Beryllium Properties in Juab County, Utah
VANCOUVER, BC – December 1, 2011 – IBC Advanced Alloys Corp. (TSX-V: IB; OTCQX: 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”.
IBC Advanced Alloys Corp.
Ian Tootill, Director of Corporate Communications
(604) 685-6263 ext 110
Rubenstein Investor Relations
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 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.