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:
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