ICS Copper Systems Ltd

Published : April 18th, 2008

UPDATES MOKAMBO SULPHIDE DRILL PROGRAM

( 0 vote, 0/5 ) Print article
  Article Comments Comment this article Rating Follow Company  
0
Send
0
comment

Press Release 08-08

 

MOKAMBO  PROJECT

SULPHIDE  DRILL  CONFIRMATION  PROGRAM -  70% COMPLETE

April 17th, 2008-Abbotsford, British Columbia, Canada � ICS Copper Systems Ltd. (ICX: TSX.V) is pleased to announce that 70% of the confirmation drilling of the historical Mokambo sulphide copper deposit has been completed towards its objective of preparing a NI 43-101 Resource Report.

Sulphide Confirmation Drill Program

The Company is in the process of drilling five diamond drill holes that twin historical diamond drill holes. Two of the five holes have been completed. Assay results from the initial hole M-08-S-01 have confirmed the mineralization assayed from Drill Hole 3 (DH3), which was completed in 1930. The results are as follows:

 

Hole No.

 

From

To

True Width

Total Copper

 

 

(m)

(m)

Interval (m)

(%)

M-08-S-01

 

69.10

84.43

11.74

0.822

 

including

74.10

74.75

0.50

1.760

 

including

75.75

76.95

0.92

1.220

 

including

78.65

80.50

1.04

1.484

 

including

81.99

82.91

0.70

1.300

 

 

85.65

92.90

5.55

0.353

 

 Although the assays are lower in the new hole than the historic hole, the mineralization is spread over a larger interval of the hole. The drill is currently on the third twinned hole which should be finished within a week, leaving 2 holes remaining to be drilled.

Re-sampling and Re-assaying of Historic Sulphide Drill Holes Program

Four of the historical sulphide diamond drill holes that are presently being drilled as twin holes, have been re-sampled at Kalulushi, using the same historical sampling intervals for comparison purposes. DH3 was not stored at the Chamber of Mines facility.

Samples were sent to Alfred Knight Laboratories in Kitwe for analysis of total copper and acid soluble copper for comparison with the original assay results. The Company has received those assays and is pleased to report that they have successfully corroborated not only the exact historical assay results themselves but the anomalous intervals as well. The results are as follows:

 

 

Hole No.

 

From

To

True Width

Total Copper

 

 

(m)

(m)

Interval (m)

(%)

KN-20

 

166.6

177.2

8.12

0.98

 

including

173.1

174.2

0.84

3.57

 

 

203.6

228.3

18.92

1.82

 

including

204.8

210.9

4.67

2.84

 

including

214.9

223.4

6.51

2.67

 

 

241.3

243.2

1.38

1.69

KN-21

 

255.7

317.3

47.19

0.93

 

including

256.3

256.4

0.08

44.90

 

including

257.9

272.2

10.95

0.98

 

including

289.9

302.4

9.58

2.05

 

including

313.3

314.6

1.00

1.76

KN-22

 

323.1

379.2

42.97

0.84

 

including

328.3

336.2

6.05

1.99

 

including

346.3

354.0

5.90

1.53

 

including

373.1

374.6

1.15

1.20

KN-33

 

325.7

391.7

52.09

0.45

 

including

325.7

327.1

1.07

1.86

 

including

346.7

347.7

0.77

1.24

 

The following table illustrates the close correlation between the re-sampled assays and the historical assays for each hole.

 

Hole No.

Average (%)

Maximum Value (%)

Minimum Value (%)

Standard Deviation

Median (%)

KN-20

0.12

0.94

- 0.35

0.2913

0.05

KN-21

0.09

3.80

- 0.52

0.7508

- 0.01

KN-22

- 0.02

0.25

- 0.69

0.2004

0.00

KN-33

- 0.09

0.09

- 0.99

0.2058

- 0.05

 

The assay statistics for these holes illustrate that the original assays were done professionally and accurately. It also reflects that the subsequent historical estimate grade is an accurate reflection of the mineral potential of the Mokambo property.

 

The Company advises that an independent, qualified person is not presently classifying the historical sulphide copper estimates as current mineral resources and ICS is not treating the historical estimates as current mineral resources, and that the historical estimates should not be relied upon ( NI 43-101, Sec 1, 4.2 (2b)).

 

However, the Company will shortly generate an updated 43-101 technical report which will verify historical data and move the historic sulphide estimate into current NI 43-101 compliant mineral resource categories and will announce new current NI 43-101 compliant mineral resource categories of the oxide copper and cobalt, based on the work that has been undertaken by the Company, thus far.

Oxide Drill Program

The Company�s shallow (120 meter) drill program, testing the near surface, oxidized copper mineralization of the Mokambo property has 9 more holes to be completed but is on hold until the deeper sulphide twinning drill program is completed. Meanwhile, the assays from the oxide drilling are continuing to be received. Transition zone material is being shipped to Johannesburg for metallurgical testing which will include bottle roll tests and small diameter column test. If the results indicate good recovery of the transition zone mineralization, this material could be added to the oxide mineralization to increase the near surface mineral potential of the Mokambo property.

President and CEO of ICS Graham Chisholm comments: �These assay results are exactly what we have been waiting for and successfully corroborate the historical assay results mentioned�.

David Makepeace, P.Eng. M.Eng, a director of the Company and its acting Chief Operating Officer, a qualified person as defined by National Instrument 43-101, supervised the preparation of the technical information in this news release.

 

Stock Options Granted to Richard Molyneux, Director

 

Under the Company�s 2006 Incentive Stock Option Plan, there are 2,696,387 Options available to purchase Common Share of the Company.  The Company has previously issued 2,050,000 Options to Directors and Officers.  On April 11, 2008, the Company issued 200,000 options to Richard Molyneux at an exercise price of $ 0.59 per share.  These options will expire on April 11, 2013.  The Company has 446,387 shares remaining for issuance under the plan.

 

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

Important Information:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

ICS Copper Systems Ltd

DEVELOPMENT STAGE
CODE : ICX.V
CUSIP : 45107L 10 0
Follow and Invest
Add to watch list Add to your portfolio Add or edit a note
Add Alert Add to Watchlists Add to Portfolio Add Note
ProfileMarket
Indicators
VALUE :
Projects & res.
Press
releases
Annual
report
RISK :
Asset profile
Contact Cpy

ICS Copper Systemps is a copper development stage company based in Canada.

ICS Copper Systemps holds various exploration projects in Congo Dem. Rep. of.

Its main asset in development is MOKAMBO MINE in Zambia and its main exploration properties are EXACOM, MUSOSHI TAILINGS and SKANIA in Congo Dem. Rep. of.

ICS Copper Systemps is listed in Canada and in Germany. Its market capitalisation is CA$ 2.5 millions as of today (US$ 2.5 millions, € 1.8 millions).

Its stock quote reached its highest recent level on December 31, 2007 at CA$ 1.37, and its lowest recent point on April 09, 2009 at CA$ 0.01.

ICS Copper Systemps has 35 889 000 shares outstanding.

Your feedback is appreciated, please leave a comment or rate this article.
Rate : Average note :0 (0 vote) View Top rated
 
Corporate Presentations of ICS Copper Systems Ltd
9/5/2007report by Fundamental Research
In the News and Medias of ICS Copper Systems Ltd
12/18/2007targeting production for July 2009
Annual reports of ICS Copper Systems Ltd
2008 Annual report
Financings of ICS Copper Systems Ltd
5/27/2008Announces $1.1 Million Private Placement
Nominations of ICS Copper Systems Ltd
8/21/2008APPOINTMENT OF CHAIRMAN & NEW DIRECTOR TO THE BOARD OF DIREC...
4/16/2008 APPOINTS RICHARD MOLYNEUX TO THE BOARD
Project news of ICS Copper Systems Ltd
1/7/2009(Mokambo Mine)ICS Abandons Mokambo Property
11/25/2008(Mokambo Mine)NEARS PRODUCTION OF THIRD PARTY ORE
7/23/2008(Mokambo Mine) DRILLS 40.9 METERS OF 1.10% CU & 16.0 METERS OF 1.56% CU AT...
4/18/2008(Mokambo Mine)UPDATES MOKAMBO SULPHIDE DRILL PROGRAM
3/10/2008(Mokambo Mine) MOKAMBO PROJECT SULPHIDE DRILL PROGRAM HAS COMMENCED
Corporate news of ICS Copper Systems Ltd
11/4/2008PAUSES FOR STRATEGIC REVIEW
5/7/2008INSTALLATION OF EMEW PLANT IN ZAMBIA BY Q4 OF 2008 - ON SCHE...
4/4/2008CLARIFIES ITS PRESS RELEASE 08-02
4/2/2008SIGNS JOINT VENTURE WITH TRANSAFRICAN MINERALS LIMITED
3/31/2008SIGNS JOINT VENTURE ON THE KARUKURUKU CONCESSION (DRC)
1/28/2008 MANAGEMENT CLARIFICATION
10/30/2007CLARIFIES ITS DISCLOSURE
Comments closed
 
Latest comment posted for this article
Be the first to comment
Add your comment
TSX-V (ICX.V)FRANKFURT (IVH.F)
0.070+16.67%0.050+0.00%
TSX-V
CA$ 0.070
02/08 15:52 0.010
16.67%
Prev close Open
0.060 0.070
Low High
0.070 0.070
Year l/h YTD var.
 -  -
52 week l/h 52 week var.
- -  0.070 -84.44%
Volume 1 month var.
2,000 -84.44%
24hGold TrendPower© : 9
Produces
Develops Copper
Explores for
 
 
 
Analyse
Interactive chart Add to compare
Interactive
chart
Print Compare Export
Last updated on : 12/18/2010
You must be logged in to use the porfolio and watchlists (free)
Top Newsreleases
MOST READ
Annual variation
DateVariationHighLow
 
5 years chart
 
3 months chart
 
3 months volume chart
 
 
Mining Company News
Plymouth Minerals LTDPLH.AX
Plymouth Minerals Intersects Further High Grade Potash in Drilling at Banio Potash Project - Plannin
AU$ 0.12-8.00%Trend Power :
Santos(Ngas-Oil)STO.AX
announces expected non-cash impairment
AU$ 7.70-0.65%Trend Power :
Oceana Gold(Au)OGC.AX
RELEASES NEW TECHNICAL REPORT FOR THE HAILE GOLD MINE
AU$ 2.20+0.00%Trend Power :
Western Areas NL(Au-Ni-Pl)WSA.AX
Advance Notice - Full Year Results Conference Call
AU$ 3.86+0.00%Trend Power :
Canadian Zinc(Ag-Au-Cu)CZN.TO
Reports Financial Results for Q2 and Provides Project Updates
CA$ 0.12+4.55%Trend Power :
Stornoway Diamond(Gems-Au-Ur)SWY.TO
Second Quarter Results
CA$ 0.02+100.00%Trend Power :
McEwen Mining(Cu-Le-Zn)MUX
TO ACQUIRE BLACK FOX FROM PRIMERO=C2=A0
US$ 12.26+2.68%Trend Power :
Rentech(Coal-Ngas)RTK
Rentech Announces Results for Second Quarter 2017
US$ 0.20-12.28%Trend Power :
KEFIKEFI.L
Reduced Funding Requirement
GBX 0.53-1.87%Trend Power :
Lupaka Gold Corp.LPK.V
Lupaka Gold Receives First Tranche Under Amended Invicta Financing Agreement
CA$ 0.06+0.00%Trend Power :
Imperial(Ag-Au-Cu)III.TO
Closes Bridge Loan Financing
CA$ 2.64-1.86%Trend Power :
Guyana Goldfields(Cu-Zn-Pa)GUY.TO
Reports Second Quarter 2017 Results and Maintains Production Guidance
CA$ 1.84+0.00%Trend Power :
Lundin Mining(Ag-Au-Cu)LUN.TO
d Share Capital and Voting Rights for Lundin Mining
CA$ 16.23+4.04%Trend Power :
Canarc Res.(Au)CCM.TO
Canarc Reports High Grade Gold in Surface Rock Samples at Fondaway Canyon, Nevada
CA$ 0.24+4.26%Trend Power :
Havilah(Cu-Le-Zn)HAV.AX
Q A April 2017 Quarterly Report
AU$ 0.20+2.63%Trend Power :
Uranium Res.(Ur)URRE
Commences Lithium Exploration Drilling at the Columbus Basin Project
US$ 6.80-2.86%Trend Power :
Platinum Group Metals(Au-Cu-Gems)PTM.TO
Platinum Group Metals Ltd. Operational and Strategic Process ...
CA$ 1.88+0.53%Trend Power :
Devon Energy(Ngas-Oil)DVN
Announces $340 Million of Non-Core Asset Sales
US$ 52.71+0.19%Trend Power :
Precision Drilling(Oil)PD-UN.TO
Announces 2017Second Quarter Financial Results
CA$ 8.66-0.35%Trend Power :
Terramin(Ag-Au-Cu)TZN.AX
2nd Quarter Report
AU$ 0.04+5.56%Trend Power :