VANCOUVER, BC – September 27, 2011 – IBC Advanced Alloys Corp. (TSX-V: IB; OTCQX: IAALF) (“IBC” or the “Company”) has signed a contract with Layne Christensen Drilling, of Chandler, AZ, to perform a first phase drilling program on the Company’s Juab County fluorite-bertrandite project located in western Utah. Drilling is scheduled to start with a single drill rig in the fourth week of September 2011 pending rig mobilization.
The drilling program will consist of up to 35 holes 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 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 the nearby Materion (formerly Brush-Wellman) Spor Mountain mine pits and will penetrate the volcanic tuff layer to test the underlying Bell Hill Dolomite. The projected cost of the planned program is $1.0 million.
As previously disclosed, IBC recently received permit approval from the U.S. Bureau of Land Management and the Utah Division of Oil, Gas and Mining to commence this 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.
IBC’s Vice President of Exploration, Lee Rice, stated, “I am very excited by the high quality results from the recent airborne survey, which clearly indicated several excellent targets over a very large area. The Company’s focus now is to quantify the potential beryllium mineralization,” continued Mr. Rice, “which we hope will provide a strategic upstream resource underpinning continued downstream manufacturing growth, as well as to support our R&D efforts, such as our nuclear fuels initiative, which has 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 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 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.
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