IBC Advanced Alloys Receives Drilling Permit Approvals for 2011 Utah Drill Program
September 08 2011 - 9:00AM
Marketwired
IBC Advanced Alloys Corp. (TSX VENTURE: IB)(PINK SHEETS:
IAALF)(OTCQX: IAALF) ("IBC" or the "Company") announces that it has
received permits and approvals from the Utah State Office of the
U.S. Bureau of Land Management and the Utah Division of Oil, Gas
and Mining to commence its planned drill program in Juab County,
Utah. IBC's properties incorporate 371 claims, totalling
approximately 7,630 acres and are located immediately adjacent to
the large Spor Mountain beryllium mine.
The proposed drill program is anticipated to commence in
mid-September, subject to assigning a contractor to complete the
work and complete rig mobilization. The complete drilling
activities are expected to be completed within 90 days with final
laboratory results and petrographic work completed approximately 60
to 90 days thereafter.
IBC previously completed an airborne geophysical survey of these
properties in 2010 flown by Fugro Airborne Surveys Corporation
("Fugro"), based in Ontario, Canada. Fugro flew a detailed
7,495-line kilometre low altitude airborne radiometric and magnetic
survey and IBC has now concluded subsequent analysis which
identified several high interest target zones that are the subject
of this exploration program to quantify the Company's upstream
resource base. The results of the airborne survey were announced in
IBC's news release dated May 3, 2011.
The drilling program will consist 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 degrees E-trending fracture
zones 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 Spor Mountain 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.
IBC's Vice President of Exploration, Lee Rice, states, "The 2010
Utah airborne survey identified a number of high interest target
zones that are worthy of further investigation with a comprehensive
drilling program. The Company's focus is to quantify the potential
beryllium mineralization," continued Mr. Rice, "which we hope will
underpin continued downstream manufacturing growth, as well as
provide a strategic upstream resource to support our R&D
efforts, such as our nuclear fuels initiative, which has the
potential to drive future 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 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" 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 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.
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Contacts: IBC Advanced Alloys Corp. Ian Tootill Director of
Corporate Communications (604) 685-6263 ext 110 (604) 687-8678
(FAX) itootill@ibcadvancedalloys.com www.ibcadvancedalloys.com
Rubenstein Investor Relations Tim Clemensen (212) 843-9337
tclemensen@rubensteinir.com
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