🕐16.06.10 - 16:31 Uhr
IBC Advanced Alloys Announces Geophysical Contract with Fugro Airborne Surveys for Utah Properties
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IBC Advanced Alloys Announces Geophysical Contract with Fugro
Airborne Surveys for Utah Properties
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VANCOUVER, BC - June 16, 2010 - IBC Advanced Alloys Corp.
(TSX-V: IB)
("IBC" or the "Company"), an integrated manufacturer of advanced
nonferrous and beryllium alloys and the owner of beryllium properties
in Colorado and Utah announces that it has entered into a contract with
Fugro Airborne Surveys Corporation ("Fugro") to conduct a comprehensive
airborne geophysical survey over the Companys prospective beryllium
properties in Juab County, Utah which are immediately adjacent to the
worlds largest operating beryllium mine at Spor Mountain, Utah.
In addition to the Fugro agreement, IBC also has contracted a
geophysicist based in Salt Lake City to manage the airborne program on
behalf of the Company.
Abraham Emond is very experienced with airborne
survey techniques and systems and has significant experience in
planning and overseeing geophysical surveys as well as processing and
interpreting geophysical survey results.
He has a graduate degree in
geophysics from the University of Utah and has worked with BP Inc.,
Grand Central Silver Mines Inc., and Rio Tinto Limited.
"IBC is very pleased to have signed this contract for an airborne
geophysical survey with Fugro," said Anthony Dutton, President and CEO
of IBC Advanced Alloys, "as it will help us advance our technical
understanding and the economic significance of our Utah beryllium
properties.
IBCs upstream assets in Colorado, and most significantly
Utah, play an important role in our companys vertically integrated
structure and value proposition.
The Company continues to focus on
developing downstream demand for its core resource, most notably
through manufacturing efficiencies gained through consolidation and by
supporting R&D projects such as our nuclear fuels initiative for
example," continued Dutton.
"A secure upstream source of beryllium will
better enable the Company to profitably develop these opportunities and
create long term shareholder value."
The survey will be conducted in the next few months when final
clearance in the restricted air space over the area can be obtained.
It
will be flown with fixed-wing aircraft flying more than 7,300
line-kilometres of high resolution aeromagnetics and 256-channel
multiple crystal radiometrics over the 260 square mile (166,680 acres,
67,450 ha.) area of interest incorporating IBCs claims.
The purpose of the aeromagnetic survey is to confirm geologic
structures and to help differentiate regional structures from local
structures that influenced beryllium mineralization in this area.
The
gamma ray spectrometer data will help identify specific layers in the
very thick sequence of bedded volcanic ash that hosts the beryllium
mineralization and blankets the slopes of Spor Mountain and fills the
Fish Springs Valley.
The results of this survey will delineate the most prospective areas of
beryllium mineralization that with subsequent ground investigation and
confirmation will provide exploratory drill hole targets to begin
quantifying the beryllium resource of IBCs 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
Pennsylvania, Indiana, Massachusetts 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.
IBCs common shares are traded
on the TSX Venture Exchange under the symbol "IB".
See IBC on Facebook.
For additional information please contact:
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.
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.
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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Copyright (c) 2010 IBC ADVANCED ALLOYS CORP (IB) All rights reserved.
For more information visit our website at
http://www.ibcadvancedalloys.com/ or send
mailto:
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