IBI REPORTS NO ASBESTOS DETECTED IN NAMEKARA VERMICULITE
IBI Corporation reports that no asbestos was detected in
vermiculite samples during mineralogical testing of the Namekara
Vermiculite from the Bukusu Complex, Eastern Uganda.
The Institute of Occupational Medicine (IOM), Edinburgh, Scotland
analyzed a vermiculite sample collected by Mr. Hans Hansen for
asbestos using PLM, XRD, SEM/EDXS methods (polarized light
microscopy, x-ray defraction, scanning electronic microscopy,
respectively). No asbestos fibres could be detected by the tests.
The tests revealed <0.001% quartz and approximately 1.6%
amphibole minerals.
Dr. Peter van Straaten said: "This confirms the quality of the
Namekara vermiculite, provided the exfoliation testing now
underway confirms our initial field results."
On March 29th the Company announced a 2,730,000 tonne resource of
vermiculite at Namekara. According to the journal Industrial
Minerals (March 1999) the prices for South African vermiculite,
bulk, FOB Rotterdam are between US$160 and $260 per metric tonne.
By funding certain expenditures, IBI will earn into a 70%
interest in the property.
IBI''s common shares trade on the Canadian Dealing Network under
the symbol IBIC. The Company has 200,022,289 common shares
outstanding.
For further information please contact your broker, or
Thomas A. Smeenk, President Dr. Peter van Straaten
Tel.: (416) 777-1073 Tel.: (519) 856-0350
Fax: (416) 777-1206 Fax: (519) 856-0351
Email: info@ibicorp.com Email:
peter.vanstraaten@sympatico.com |
