VANCOUVER, BC — October 21, 2010 — IBC Advanced Alloys Corp. (TSX-V: IB) (“IBC” or the “Company”), announced today preliminary results of the previously announced Fugro Airborne geophysical survey completed on July 26, 2010 on its beryllium property in Juab County, Utah.
Analysis of the geophysical survey data delivered in August 2010 by Fugro Airborne Worldwide revealed several extensive northeast-trending fracture zones that previously had not been identified or mapped because of the volcanic tuffs that blanket the prospect area. The next stage of the Company’s exploration program will be to determine whether there is commercially viable beryllium mineralization in the fracture zones, which are at surface on the property.
A series of 50 magnetic intensity profile lines spaced approximately one kilometre apart were extracted from the gridded residual magnetic intensity data and were used to identify lows where postulated hydrothermal fluids have altered minerals and reduced the magnetic permeability of the country rock. The alignment of lows from one line to the next traces an extensive pattern of fractures and hydrothermal alteration.
On the southwest flank of Spor Mountain, the site of previous and ongoing beryllium mining, the presence of fragmental limestones and dolomites in the vicinity of throughgoing faults and fractures has localized the deposition of the beryllium ore mineral bertrandite from circulating hydrothermal fluids.
“We are very pleased with both the Fugro airborne survey preliminary results and the excellent quality of the data,” said Anthony Dutton, President and CEO of IBC Advanced Alloys. “IBC is keen to progress our Juab County exploration program and this data is an excellent platform to guide the next phase of our field exploration program. A number of new geophysical anomalies were detected during the survey,” continued Dutton, “which are analogous to known areas of economic beryllium mineralization. A detailed analysis of the survey data has begun and we anticipate the findings will be valuable as we lay out drill targets based on our new geological understanding of these exciting prospects.”
The extensive fracture systems and geologic structure being revealed by the analysis of closely-spaced magnetic intensity data in the Fish Springs Flat suggests a greater amount of beryllium mineral deposition than was previously thought to exist. Further work to identify the full extent of the fracture systems is ongoing and is expected to identify a number of drill targets for the next phase of exploration work on the properties.
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”.
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For additional information please contact:
IBC Advanced Alloys Corp.
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. Neither the 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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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 operations and mineral exploration, therefore the Company’s future results, performance or achievements could differ materially from those expressed in these forward-looking statements will transpire. 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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