VANCOUVER, BC – September 8, 2011 – IBC Advanced Alloys Corp. (TSX-V: IB; 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, totaling 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° 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 prospectiveberyllium 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”.
IBC Advanced Alloys Corp.
Ian Tootill, Director of Corporate Communications
(604) 685-6263 ext 110
Email: [email protected]
Website: www.ibcadvancedalloys.com
Rubenstein Investor Relations
Tim Clemensen
(212) 843-9337
Email: [email protected]
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 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.
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