🕐01.08.12 - 03:27 Uhr
IBC NEWS: IBC INTIAL UTAH DRILL RESULTS
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IBC Advanced Alloys
NEWS RELEASE
July 31, 2012
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Vertically Integrated from Exploration to Market
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IBC Advanced Alloys Announces
Initial Utah Drill Results
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VANCOUVER, BC, July 31, 2012.
IBC Advanced Alloys Corp.
(TSX-V: IB; OTCQX: IAALF)
("IBC" or the "Company") announces assay results from 22 drill holes at its 5,265
metre drilling program on its Juab County, Utah properties.
The 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 traversed the Companys 361-claim southern claim block adjacent
to Materions Spor Mountain beryllium mine.
All drill holes reached a depth of 150
metres (492 feet) in order to test the beryllium concentration within economic open
pit mining depth in both the valley fill tuff and the volcaniclastic rocks as well
as in the underlying Bell Hill Dolomite metasedimentary unit which is unexposed
in the area of the Companys claims.
Samples were collected at 1-metre intervals
during the drilling program.
Voids in drill hole 1 resulted in no recovery of samples
for 3 metres and a large open space in hole 24 resulted in no recovery of samples
for 36 metres.
All 50- to 70-kilogram drill hole samples were dried, weighed and split into duplicate
portions in the Companys sample processing facility in Delta, Utah, and shipped
to the assay laboratory for analysis.A total of 92.7 percent of the drill hole
samples have been processed and submitted for analysis.
Laboratory assay results
for 3,224 samples (61.7%) have been returned for samples from 22 drill holes.
As reported in the Companys News Release of May 31, 2012
and its most recent MD&A for third quarter of fiscal 2012
there were backups at the testing labs and logistical issues which resulted in delays
for the drill sample results.
The results to date have not encountered ore-grade Be mineralization.
The average
of all returned samples shows anomalous Be content approximately 5.6 times the concentration
in average crustal rocks, but no interval with ore-grade Be content (1,700 times
average crustal abundance).
Drill holes IBC11-05, IBC11-08, IBC11-11, IBC11-17,
and IBC11-24 showed the highest Be intercepts, but appear to show poor continuity
of high Be zones.
A summary of the assay results to date is presented in the following
table.
Exploration Drill Program Results:
Low
Mean of
High
Drill
Be Intercept
All Samples
Be Intercept
Hole
(ppm)
(ppm)
(ppm)
Comment
IBC11-01
0
5.15
10.6
IBC11-02
no results
IBC11-03
2.1
5.37
17.5
IBC11-04
1.9
4.77
13.8
IBC11-05
< 0.5
14.13
270
IBC11-06
< 0.5
4.39
29.9
IBC11-07
no results
IBC11-08
4.1
28.12
175
IBC11-09
2
16.78
67.1
IBC11-10
no results
IBC11-11
7.4
46.80
391
partial results
IBC11-12
no results
IBC11-13
no results
IBC11-14
no results
IBC11-15
no results
IBC11-16
no results
IBC11-17
2.9
25.68
617
IBC11-18
2.3
10.78
44.7
IBC11-19
no results
IBC11-20
no results
IBC11-21
no results
IBC11-22
0.1
16.52
53.4
IBC11-23
0.1
11.79
43.4
IBC11-24
0
21.31
151.5
IBC11-25
0.1
12.47
50.2
IBC11-26
1.8
5.47
14
IBC11-27
1.7
4.6
10.2
IBC11-28
2.1
5.01
9.2
IBC11-29
2
4.44
9.7
IBC11-30
no results
IBC11-31
2.1
4.76
10.4
IBC11-32
1.7
4.82
10.6
IBC11-33
0
4.29
8.5
IBC11-34
no results
IBC11-35
2
4.67
14
Anthony Dutton, IBCs President and CEO commented, "Although we are still awaiting
final lab results for several additional holes in the target zone, we felt that
it was important to release these results prior to the end of July as promised.
If the results from the remaining drill holes are material, we will announce them
as soon as they become available.
As a part of IBCs ongoing upstream initiatives,"
continued Dutton, "the Company is examining its current strategy and various exploration
options within its 371 Juab County claims, as well as other third party alternatives
in North America.
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 7,640 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" and the OTCQX
under the symbol "IAALF".
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.
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, limited availability of raw materials, 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 activities therefore the Companys
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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IBC Advanced Alloys Corp.
| 906-595 Howe St.
| Vancouver | BC | V6R 2H6 | Canada