🕐23.02.11 - 14:27 Uhr
News Release
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NEWS RELEASE
February 23, 2011
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IBC Advanced Alloys Corp.
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IBC Advanced Alloys Reports Positive Results from Completed Airborne Survey
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Airborne survey in Utah
VANCOUVER, BC - February 23, 2011 - IBC Advanced Alloys Corp.
(TSX-V: IB) ("IBC"
or the "Company") has successfully completed the data analysis of its previously
disclosed airborne survey of the Companys beryllium claims
Juab County, Utah flown in 2010.
The completed data analysis has identified several high interest target zones ("TZ")
that will be the subject of additional work to quantify the Companys upstream resource
base.
The Company is developing and deciding on a 2011 work plan that may include
drill testing, and other work, on these high priority targets.
The geophysical survey,
completed by Fugro Airborne Surveys Corporation ("Fugro"), based in Ontario, Canada,
consisted of a detailed 7,495 line kilometre low altitude airborne radiometric and
magnetic survey covering IBCs Utah beryllium mineral claims and adjacent areas
totalling 72,380 hectares.
Abraham Emond, geophysical consultant based in Salt Lake City, Utah, worked with
the Companys in-house technical team to re
view the data for the production of a detailed interpretation.
"This well-executed
geophysical survey will continue to add value to IBC Juab County exploration efforts,"
said Mr.
Emond, "and has identified a number of promising potential drill targets
for the Company."
Results of the radiometric survey showed a mantle of outwash material from Starvation
Canyon that is otherwise indistinguishable from the volcanic tuffs of the Fish Springs
Valley but covers the beryllium bearing tuffs on the southwest flank of Spor Mountain
for a width of 600 metres to as much as 2,300 metres, averaging about 1,600 metres.
This cover material prevents geochemical sampling and shallow drilling from revealing
beryllium content in the underlying tuffs and appears to truncate the previously
mined deposits on Spor Mountain.
The magnetic intensity data clearly revealed four through-going northeast-trending
fracture zones extending from the previously mined areas on Spor Mountain to the
southwest into IBCs claim block.
These fracture zones may have been the source
as well as the locus of the ore deposits on Spor Mountain.
The intercept lengths
of these fracture zones on IBCs claims are 930 m, 1,740 m, 3,550 m, and 6,420 m
and constitute the target areas for a 30-to-50 hole drilling campaign to evaluate
the beryllium resource during the 2011 field season.
"We are pleased to see these positive targets emerge from the Juab County geophysical
survey," stated Lee Rice, IBCs consulting geologist and a Company director.
"The
property is very large and these targets reinforce our view that the property hosts
multiple zones of beryllium mineralization.
We have the added benefit of our claims
being immediately adjacent to the worlds largest beryllium mine and were therefore
able to complete a detailed comparative analysis for a better understanding of the
potential of the Juab County claims."
"IBC is very encouraged with these results," said Anthony Dutton, President and
CEO of IBC Advanced Alloys, "IBCs upstream assets in Utah play an important role
in our companys strategy as we develop new markets and technologies for beryllium.
IBCs nuclear fuels initiative
example," continued Dutton, "will require a secure source of beryllium which we
hope can be fulfilled by Juab County thereby creating significant long-term shareholder
value."
The technical program at Juab County has been conducted under the supervision of
IBCs Exploration Consultant, Mr.
Lee Rice, a registered member of the Society
for Mining, Metallurgy, and Exploration, a registered Professional Engineer, and
a Qualified Person as defined by National Instrument 43-101.
Mr.
Rice also has
reviewed and approved the contents of this news release.
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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
IN, MA, PA, MO.
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.
IBCs common shares are traded on the TSX Venture Exchange under the symbol
"IB".
See IBC on Facebook
IBC Advanced Alloys Corp.
Ian Tootill, Director of Corporate Communications
(604) 685-6263 ext 110
Email:
Website: www.ibcadvancedalloys.com
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.
Legal Notice Regarding Forward Looking Statements
This disclosure contains certain forward-looking statements that involve substantial
known and unknown risks and uncertainties, certain of which are beyond the Companys
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 Companys 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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IBC Advanced Alloys Corp.
| 906-595 Howe St.
| Vancouver | BC | V6R 2H6 | Canada