VANCOUVER, BC – February 7, 2012 – IBC Advanced Alloys Corp. (TSX-V: IB OTCQX: IAALF) (“IBC” or the “Company”) is pleased to provide a progress report from its 2011 exploration program on the Company’s Juab County, Utah properties.
The program consisted of 35 reverse circulation 60 degree inclined holes on 100 metre spacing on the Company’s 371 claims adjacent to Materion’s Spor Mountain beryllium mine. Field personnel currently are completing the logging and processing of the more than 100 tonnes (115 short tons) of samples recovered from the drilling operations. ALS-Minerals has been selected to provide geochemical analyses and quantitative beryllium analysis of the approximate 5,000 samples generated by the 2011 exploration program.
More than 750 samples from four of the exploration drill holes have been submitted to the laboratory for analysis with preliminary results expected in the near term. The Company expects to complete processing of drill samples and receive analysis of all samples by the end of May 2012. Microscopic examination of drill cuttings has shown that several of the drill holes encountered the Bell Hill Dolomite as well as large quantities of lavender-coloured fluorite that is usually associated with beryllium mineralization in this area.
Lee Rice, Vice President of Exploration for IBC stated, “The drilling program progressed very smoothly with good to excellent sample recovery thanks to the Layne Christensen Company drillers and equipment. Our initial examination of drill hole samples indicates that we have tested the complete suite of rocks in this depositional environment and that our hypothesis of deposition from hot ascending fluids rather than from descending meteoric waters appears to be confirmed.”
About the property:
The Juab County property consists of 371 claims (approximately 7,630 acres) immediately adjacent to Materion Corporation’s open-pit beryllium mining operations on Spor Mountain that have been in production since 1969. The 2011 exploration program consisted of 35 reverse circulation 60° inclined drill holes on 100-metre spacing along a line perpendicular to the prevailing northeast-trending fracture patterns in the metasedimentary and volcaniclastic rocks of the Fish Springs valley and completely traversing the Company’s southern claim block. All drill holes reached a depth of 150 metres (492 feet) to test the concentration of beryllium ore minerals within economic open pit mining depths in both the valley fill tuff and volcaniclastic rocks as well as the underlying Bell Hill Dolomite metasedimentary unit which is unexposed in the area of the Company’s claim blocks.
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 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
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 manufacturingactivities 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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