Mokambo Project Sulphide Drill Program has Commenced
Abbotsford, Canada (ots/PRNewswire)
Sulphide Drill Program
The company is pleased to announce that the first hole testing sulphide mineralization at Mokambo Copper Property in Zambia's Copper Belt has been completed in the area of the sulphide historic estimate. A NI 43- 101 Technical Report on the Mokambo Property, prepared in part by David Makepeace, M.Eng., P.Eng., a director of the Company and its acting Chief Operating Officer, who is a qualified person as defined by NI 43-101, states that the work by prior operators had generated a Sulphide Historical Indicated Estimate of 12 million tonnes grading 1.72 % total copper and a Sulphide Historical Inferred Estimate of 12 millions tonnes grading 1.47 % total copper (Geomin, 1976). No cobalt assaying was recorded in the historical drill logs the Company has acquired and hence were not part of the generated historic estimate. The Company advises that a qualified person has not done sufficient work to classify the historical 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)).
Oxide Drill Program
The Company's shallow (120 meter) drill program, testing the near surface, oxidized portion of the Mokambo mineralization is nearing completion. The Company plans to compile all the drill and geological data in order to produce a NI 43-101 Technical Report on this portion of the program.
This news release includes a map identifying the shallow holes that have been drilled over the property which is overlaid by contours illustrating total copper mineralization identified by assays to-date. While it is not yet possible to determine the total potential of the shallow mineralization, it can be noted however that a thicker than expected "transition zone" has been located below the oxide zone. To view map please access following link: http://www.icscopper.com/_resources/ODDP_Map.pdf
The transition zone is composed of chalcocite and bornite with malachite on fractures and a minor amount of chalcopyrite. ICS plans to determine if a continuous vat leach process can be used to process the oxide mineralization. The Company will also run a series of preliminary metallurgical tests on the transition zone material that has been intersected by the drilling to determine its leach characteristics. If the results indicate good recovery of the chalcocite and bornite, the transition zone might be added to the evaluation of the oxide material.
Graham Chisholm, President and CEO comments "We hope to be able to move the historic sulphide inferred "estimate" on the Mokambo Property into a NI 43-101 compliant resource category as well as report further on the oxide cap within the near future."
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.
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.
Web Page: http://www.icscopper.com/
Contact:
For further information: Graham Chisholm, graham@icscopper.com,
Office:
+1-604-859-3007, Cell: +1-604-302-0746; For Investor Relations: Brett
Whitelaw, brett_whitelaw@telus.net, Tel: +1-604-662-8633