IBC Mineral Properties

US PROPERTIES

Juab County, Utah

371 mineral claims are located near Spor Mountain in Juab County, Utah. The 371 claims, constituting approximately 7,630 acres, are strategically located in an area of known beryllium mineralization described in US Geological Survey Professional Paper 415.

Studies conducted by the U.S. Geological Survey and by the U.S. Bureau of Mines in the 1960s confirmed the extent and grades of the beryllium deposits in this area and their chemical, mineralogical, and physical properties. Current production rates at Spor Mountain of approximately 48,000 tons of bertrandite ore annually grading 0.35% beryllium constitute nearly 60% of world production.

The beryllium deposits discovered at Spor Mountain in December, 1959, https://asoft786.securesites.net/secure/freedomweb/admin.php?src=gendocs&srctype=display&tab=1&filter=Investors&pos=0,30,23&id=10#editorTabs-body-1 have been the major source of this metal in the western world for more than 40 years. The beryllium mineralization at this location occurs in tabular deposits situated along major faults and fractures in an altered water-laid rhyolitic tuff within a valley that was once part of paleo-Lake Bonneville. The IBC claims are located on extensions of the geologic structures initially described by USGS geologists and that are presently being mined. This sparsely populated area of Juab County has good road access and electrical power availability for industrial development. IBC has been advised in a January, 2008 letter that Juab County is actively seeking economic development of mining and processing facilities.

Spor Mountain is adjacent to the world's biggest beryllium mine operated by Materion (formerly Brush Wellman).

Park County, Colorado

The Boomer mine, located in Section 21 of Township 11 South, Range 72 West (T11S R72W), lies within the Lake George beryllium area, a prolific beryllium-producing area of South Park, Park County, Colorado. It is well-supplied with electricity, water and telephone, and is readily accessible along an established road system. It is comprised of two patented mining claims: the Boomer and East Boomer lodes consisting of 20.560 acres.

The Boomer mine was historically the second largest producing beryllium mine in the United States from 1948 until 1963 and was the largest beryllium ore producer in 1958. An additional 33-1/3% interest in the adjacent 9.395-acre J.S. Lode also was acquired.

The Boomer mine produced a majority of the beryllium ore (beryl and bertrandite) mined in Colorado from 1948 until 1969 and over 50% of the total US production during that period according to the U.S. Bureau of Mines Minerals Yearbooks. Mining operations were discontinued in the early 1970s due to a legal dispute between the operating partners.

USGS Scientists, Dr. Wallace R. Griffitts and Dr. Charles C. Hawley, who evaluated the Boomer mine in the 1960s (e.g., USGS Professional Papers 608-A & B and USGS Circular 597), were of the opinion that the Boomer mine retained more than 50% of its mineable reserves. Ore reserves will be confirmed by systematic drilling, geochemical sampling, and by geophysical and geological evaluations.

Lake George Beryllium Area 

IBC has also completed the staking of 517 mineral claims in two claim blocks in the Lake George district of Colorado, a well known area of beryllium mineralization that also includes the Boomer mine.

The staked area covers approximately 10,680 acres and includes such prominent former beryllium producing areas as Badger Flats, China Wall and Redskin Gulch and numerous former producing claims and workings.

BRAZIL PROPERTIES

Minas Gerais

The Properties are located in the Minas Gerais State, Brazil. One is located in the Santa Maria de Itabira municipal district and the other in the Coronel Murta municipal district as shown in the illustration that follows.

• Minas Gerais is a well mineralized region with a productive history of mineral production dating from the 16th century and includes the well known Caue gold mine of the Vale do Rio Doce Company (NYSE: RIO).
• Eastern Minas Gerais is the location of one of the world's largest gem bearing pegmatite provinces and beryl is a frequent component of pegmatites in the region.
• Historically, attention has been on the gem varieties of beryl, emerald, aquamarine, morganite as well as associated species, topaz, tourmaline and chrysoberyl.
• IB's properties comprise 996 hectares of research licenses which are for a period of three years and may be extended for an additional three years upon application and submittal of a report of activities. At the end of the extension, the license must be converted through an application for a mining license.
• Work permitted under a research license includes mapping, soil sampling, definition drilling and trenching. No production is permitted under the research license.

• The Santa Maria de Itabira license, dated 203, is for an area of 643.74 hectares with at least two known pegmatite dikes exposed in underground workings.
• Gem quality beryl minerals are reported from adjacent properties.
• The Santa Maria de Itabira pegmatites have been explored up to 100 metres horizontally and 30 metres vertically in tunnels and an underground shaft.
• A total of approximately 400 metres in five of seven tunnels have been mapped.
• Beryl production of some 410 kilograms from these dikes is reported but not confirmed with no current production.
• Access to the Santa Maria de Itabira license is good, 50 kilometres from Itabira and only 15 kilometres from Santa Maria de Itabira.

• The Coronel Murta license area of 342.65 hectares is undeveloped and is dated 2006.
• Gem production is common in the region, topaz, tourmaline and morganite (pink beryl)
• A large pegmatite body currently being exploited to the south of the license projects across the Jequitinonha river onto the Coronel Murta license.
• That operation is stockpiling feldspar for the ceramic industry, lepidolite for possible sale to Lithium Corporation and is seeking morganite.
• Beryl crystals are visible in the tunnel walls.
• Access to the license is difficult. A primitive road extends approximately 20 kilometres from Coronel Murta city to the eastern part of the license area.