ICS Nears Production of Third Party Ore
Abbotsford, Canada, November 24 (ots/PRNewswire)
ICS Copper Systems Ltd. (ICX:TSX.V) is continuing to advance the Mokambo project EMEW plant toward production of third party ore. To this end the Company is negotiating with ZESCO, Zambia's largest power utility to install a 4.2 kilometre 11 kV three phase powerline to ICS's EMEW plant and compound. This will provide the necessary and cost effective power to operate its EMEW plant using third party ore. If ZESCO can install the powerline in a timely manner and the EMEW plant is completed at the same time, copper production could start in early 2009. The Company remains confident that it will be able to produce copper profitably and lessen the effects of the current world financial crisis.
ICS feels that by cost effectively advancing the EMEW plant and addressing its power requirements, it will be well positioned to take advantage of future increases in copper prices.
The Company also wishes to announce that the 2008 annual financial statements and the MD & A documents are available on SEDAR. Additionally, the Company also wishes to announce that the NI 43-101 mineral resource technical report for the sulphide mineralization on the Mokambo property will be available on SEDAR shortly. Furthermore, Coffey Mining will release a separate report on the oxide zone mineral resource shortly.
Resignation of Director
Fred Sveinson has resigned as a director of the company stating that he needs to focus more fully on his role as C.E.O. of Merit Mining Company (MEM- TSX.V). The Company wishes to extend its appreciation to Fred for his contributions to the Board since inception.
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