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ICS Copper Systems Ltd

ICS Pauses for Strategic Review

Abbotsford, Canada, November 4 (ots/PRNewswire)

ICS Copper Systems
Ltd. (ICX:TSX.V) announces that due to the reduction  in copper
prices over the last few months and current market conditions the
Company has decided to suspend it's exploration activities and the
completion of it's EMEW plant in Zambia as it undertakes a strategic
review of operations.
Mokambo Review
To date the company has completed a first phase drilling
programme on the Mokambo sulphide ore body. Based on this drilling a
NI-43-101 compliant mineral inferred copper resource estimate has
been delineated by Coffey Mining, an independent Qualified Person,
and the NI-43-101 report will shortly be available to view on SEDAR
at http://www.sedar.com.
Part of the review will be to consider additional drilling
programs. Due to the wide spacing of the first phase drilling
significant potential is believed to exist for increasing the tonnage
and grade of this resource through additional drilling both along
strike and down dip. Opportunities also exist to increase the Mokambo
resource through Joint Ventures with the operators of the contiguous
Mokambo North and Mokambo South Properties, both of which host
similar copper sulphide deposits and are currently being explored.
ICS also awaits the results of its Oxide drilling once Coffey Mining
provides a NI 43-101 compliant report.
EMEW Review
The EMEW plant is very near completion with Electrometals staff
onsite overseeing the final installation. The EMEW plant is expected
to produce approx 500t/p/a Cu and approx 100t/p/a/ Co by processing
third party ore.
Graham Chisholm, President and CEO of ICS comments, "While the
Company waits on prices and market conditions to improve, management
will take the time to review the exploration results from the Mokambo
property to determine future programs including potential joint
venture candidates that have approached the company. The Company will
also assess other potential acquisition opportunities of advanced
stage projects in Zambia and DRC while adopting a prudent approach in
conserving cash."
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: Graham Chisholm,  graham@icscopper.com, Office:
+1-604-859-3007, Cell: +1-604-302-0746, 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

Plus de actualités: ICS Copper Systems Ltd
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  • 16.10.2008 – 19:45

    Mokambo NI 43-101 Mineral Resource Technical Report Received

    Abbortsford, Canada (ots/PRNewswire) - ICS Copper Systems Ltd. (ICX:TSX.V) is pleased to announce that the Company has obtained a NI 43-101 compliant independent Mineral Resource Technical Report on the sulphide mineralization at the Mokambo property, Zambia. This resource estimate provides a useful baseline for further exploration and development of the Mokambo property. The following tabulation is at the ...

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    Appointment of Chairman & New Director to the Board of Directors

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  • 23.07.2008 – 22:03

    ICS Copper Drills 40.9 Meters of 1.10% Cu and 16.0 Meters of 1.56% Cu at the Mokambo Property

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