International Bethlehem Drilling Confirms Niobium and Rare Earths on Its Myoff Creek Property, BC


March 19, 2012

West Vancouver, British Columbia - March 19, 2012 - International Bethlehem Mining Corp. (the “Company” or “International Bethlehem”) is pleased to announce assay results from the Company’s fall 2011 drilling program on its Myoff Creek Niobium and Rare Earth Elements (“REE”) property (“the Myoff Creek Property”). The Myoff Creek Property is located approximately 55 kilometres northwest of Revelstoke in southeastern British Columbia.

In this first phase of exploration, eight holes totaling 1,134 metres were successfully drilled. These holes, the first ever drilled on the Property, were designed to test the grade and thickness of the historically known “REN Carbonatite”. The REN Carbonatite consists of a sill or sheet-like body of intrusive origin that strikes northwest and dips moderately to the southwest. Historic work on the Myoff Creek Property traced the carbonatite over a strike length of approximately 2.5 kilometres. The drilling program confirmed widths and Niobium (Nb2O5) grades that the Company believes are of potential economic significance. REE assay results are also encouraging.

Niobium is a valuable commodity which has a variety of uses and is primarily employed in the specialty pipe steel industry. Ferro-niobium prices are reported by Metal-pages.com at US$ 43.00/kg as of February 28, 2012. 

Drilling took place from six sites which tested the carbonatite sill over 1.0 kilometre of strike length and down-dip for 160 metres. All drill holes intersected the carbonatite, as well as the hanging wall and foot wall rocks. Carbonatite intersections range in true thickness from 31 to 95 metres. Core recovery of the carbonatite was close to 100%.

Based on the Company’s drill results and assay analysis completed to date, Niobium is present throughout the thickness of the carbonatite sill (except as noted in the Table below) with the best grades obtained near the middle of the sill. The best overall grades of Niobium were obtained in the central 250 metres of the drilled strike length where the carbonatite was found to be the thickest (in drill holes MC-11-03, 04, 05 and 06). The higher niobium content appears to be spatially associated with disseminations, pods and bands of magnetite and ilmenite within the carbonatite. Detailed mineralogical investigations are currently underway at the University of British Columbia under the supervision of Professor Lee A. Groat. The following table summarizes the Niobium assay results:

Drill Hole
Number
From
(metres)
To
(metres)
Interval
(metres)
Nb2O5 ppm
(grams per tonne)
 
 
 
 

 

MC-11-03
24.13
43.36
19.23
2712
including
29.07
38.07
9.00
4284
including
35.07
38.07
3.00
9250
 
43.36
46.69
3.33
see Note 2
and
46.69
64.69
18.00
1531
including
57.69
64.69
7.00
2037
 
 
 
 
 
MC-11-04
66.91
76.38
9.47
1460
 
76.38
80.70
4.32
see Note 2
and
80.70
89.04
8.34
1950
 
89.04
107.06
18.02
see Note 2
and
107.06
122.00
14.94
1359
 
 
 
 
 
MC-11-05
39.22
51.70
12.48
2010
 
51.70
73.63
21.93
see Note 2
and
73.63
96.63
23.00
1708
 
 
 
 
 
MC-11-06
108.95
115.45
6.50
2072
 
115.45
123.70
8.25
see Note 2
and
123.70
146.30
22.60
1555

Note 1: All samples were subjected to fusion followed by X-ray Fluorescence (“XRF”) analysis for Niobium (Nb2O5), Tantalum (Ta2O5) and Zirconium (ZrO2)
Note 2: The mineralized composite carbonatite zone includes screens and interlayers of mafic and potassic fenite, pegmatite and intruded country rock, which were analyzed and are reported as waste.

In addition to the Niobium presence, analysis indicates that the REE’s are strongly zoned into the hanging wall (southwest side) of the carbonatite over the entire drilled strike length within the REN Carbonatite, as illustrated by the following assay results:

Drill Hole
Number
From
(metres)
To
(metres)
Interval
(metres)
TREO
(%)
Neodymium oxide
(% of TREO)
       

 

 
MC-11-01
2.00
16.54
14.54
0.30
13.5
 
 
 
 
 
 
MC-11-03
7.16
11.90
4.74
0.42
14.5
 
 
 
 
 
 
MC-11-04
20.26
39.67
19.41
0.79
11.9
including
22.17
25.57
3.40
2.06
10.4
 
 
 
 

 

 
MC-11-05
18.92
27.00
8.08
0.43
12.5
 
 
 
 

 

 
MC-11-06
65.00
81.00
16.00
0.61
10.9
 
 
 
 

 

 
MC-11-08
47.00
65.47
18.47
0.41
13.6

Note 1:  All samples were subjected to Lithium-metaborate fusion followed by Inductively Coupled Plasma (“ICP”) and ICP-Mass Spectrometry (“MS”) analysis.
Note 2: Total Rare Earth Oxides ("TREO") include: La2O3, Ce2O3, Pr2O3, Nd2O3, Sm2O3, Eu2O3, Gd2O3, Tb2O3, Dy2O3, Ho2O3, Er2O3, Tm2O3, Yb2O3, Lu2O3, and Y2O3. Neodymium Oxide is defined as Nd2O3 and expressed as a percent out of the TREO content. The four most abundant REEs that make up the TREO reported above are Cerium (Ce2O3), Lanthanum (La2O3), Neodymium (Nd2O3) and Praseodymium (Pr2O3).

In 2011 the Company also optioned adjoining ground that covers a several kilometre southerly strike extension of what is believed to be the REN Carbonatite sill. More recently, by staking, the Company acquired a new potential Niobium and REE-bearing carbonatite occurrence known as the “Leo” discovery, located approximately 7.5 kilometres to the south. Geological mapping and gamma-ray spectrometer surveys, as well as rock sampling, are planned in an effort to evaluate the potential strike extension or possible reoccurrences of the Myoff Creek carbonatite between the REN and the Leo discovery.

At the completion of the Company’s recent drill program, the core was delivered to a secure facility at the University of British Columbia, Department of Earth and Ocean Sciences. Diamond sawn core from six of the eight holes was submitted for analysis to Activation Laboratories Ltd. (“Actlabs”) of Ancaster, Ontario and the remaining core has not yet been sawn. A drill plan and cross sections are available for viewing on the Company’s website (www.bethlehemmining.com).

This news release has been reviewed and approved by Warner Gruenwald, P. Geo., who is acting as the Company’s Qualified Person for the Myoff Creek Property project, in accordance with regulations under NI 43-101.

For further information, contact Mr. Clive Shallow, Shareholder Communications, at 604-922-2030, Robert A. Young, Investor Relations, at 604-682-5123 or visit the Company’s website at www.bethlehemmining.com.

International Bethlehem Mining Corp.

“Ronald A. Coombes”
_________________________________
Ronald A. Coombes, President & CEO


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This news release includes certain statements that may be deemed “forward-looking statements” within the meaning of applicable securities legislation. All statements, other than statements of historical facts, that address such matters as future exploration, drilling, exploration activities, potential mineralization and resources and events or developments that the Company expects, are forward looking statements and, as such, are subject to risks, uncertainties and other factors of which are beyond the reasonable control of the Company. Such statements are not guarantees of future performance and actual results or developments may differ materially from those expressed in, or implied by, this forward-looking information. Factors that could cause actual results to differ materially from those in forward-looking statements include such matters as market prices, exploitation and exploration results, continued availability of capital and financing, and general economic, market or business conditions. Any forward-looking statements are expressly qualified in their entirety by this cautionary statement. The information contained herein is stated as of the current date and subject to change after that date and the Company does not undertake any obligation to update publicly or to revise any of the forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws.