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Press Release 08-09
INSTALLATION
OF EMEW PLANT IN ZAMBIA
BY Q4 OF 2008 – ON SCHEDULE
May 7th 2008-Abbotsford,
British Columbia, Canada
– ICS Copper Systems Ltd. (ICX:TSX.V) is
pleased to announce that the company is on track to complete the installation
of its EMEW plant by Q4 of 2008 at the Mokambo site in Mufulira, Zambia.
The plant is designed to produce approximately 600 tonnes of finished copper
and approximately 100 tonnes of cobalt carbonate annually. The Company will
initially be processing third party ore, purchased from small local mining
companies.
The purpose of the EMEW plant operation at this
stage of the Company’s history is to provide the Company with quick
access to cash flow to reduce dependency on the markets and the subsequent
dilution in share capital. The company’s issued share capital remains
at 26,963,869 shares.
The 270 cell EMEW plant that was acquired before the
IPO is on site and the shipment containing the EMEW rectifiers is presently
in Zambia
en route to site. The plant will be assembled on the concrete structure
that has already been built for it. An acid-proof membrane is being laid down
under the EMEW plant as well as under the heap leach area, pregnant leach
solution pond, and the raffinate pond. A crusher, stainless steel belt filter
(for cobalt carbonate recovery), and an appropriately sized diesel generator
have been sourced and acquired. This operation is scheduled to start in Q4
of 2008.
Graham Chisholm, President and CEO of ICS comments
“One of the Company’s key objectives is to bring this project to
production as soon as possible with minimal capital by using the modular EMEW
plant. The cash flow will assist the company to progress its larger projects
to achieve the Company’s vision of becoming a major mining company
centered on the Central African Copper Belt”.
Sulphide Confirmation Drill Program
ICS is nearing completion of its confirmation drill
programs for the oxides and the sulphides of the Mokambo Deposit with an NI
43-101 Compliant Technical Mineral Resource Report to be completed by summer
2008.
Trans African Minerals
The company wishes to advise that Trans African
Minerals has not complied with the payment schedule as set out in
the Letter of Intent signed between ICS and Trans African Minerals dated the
4th March 2008 and accordingly ICS has withdrawn from the
agreement.
Resignation of Director
Michael Halvorson has resigned from the Board of
Directors effective April 30th 2008. Mike wishes to reduce his
work load and commitments to be able to spend more leisure time on his
ranch. The board has expressed their appreciation to Mike for his services
over the last year.
ICS COPPER SYSTEMS LTD.
Signed “Graham Chisholm”
Graham Chisholm, President & CEO
This
release includes certain statements that are “forward-looking
statements”. All statements in this release, other than statements of
historical facts that address future exploration, development and production
activities, and other circumstances, events and developments that the Company
expects, are forward-looking statements. Although management believes the
expectations expressed in such forward-looking statements are based on
reasonable assumptions, such statements are not guarantees of future
performance, and actual results, events and developments may differ
materially from those in the forward-looking statements. The occurrence of
certain risk factors, the probability of which is unknown, may also affect
actual results, events and developments expected by the Company.
The
TSX Venture Exchange has not reviewed and does not accept responsibility for
the adequacy or accuracy of this release.
For
Further information
contact:
Graham
Chisholm, President – (604) 859-3007 – Email: graham@icscopper.com
Brett
Whitelaw, Vice-President of Public Relations – (778)
836-5891 – Email: brett_whitelaw@telus.net
www.icscopper.com
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