Business
ICS Clarifies its Disclosure
ICS Clarifies its Disclosure.
About this update from Carlton Precious Inc
[{"type":"text","content":"\n\n\n\nABBOTSFORD, BC, Oct. 29 /CNW/ - ICS Copper Systems Limited (TSXV: ICX)\nannounces that, as a result of a review by the British Columbia Securities\nCommission, it is issuing the following news release to clarify its\ndisclosure.\n\n\nMusoshi Tailings Project\n\n\n------------------------\n\n\nThe project continues to be on hold due to a dispute regarding ownership\nof the tailings between Sodiminco and MMK. Subsequent to the Company's IPO, it\ndisclosed an unclassified current tailings resource as oxide on its website.\nThe Company did not file a news release or material change report disclosing\nthe resource estimate.\n\n\nThe Company made the above disclosure on its website based on a report\nprepared in 2005 by Sodiminco. The Company has not been able to conduct an\nindependent review of the data and methodology employed by Sodiminco\ngeologists. The tonnage was based on the volume of the tailings multiplied by\nthe average density of 50 composite samples, and the grade based on the\naverage grade of the 50 composite samples. The composite samples were derived\nfrom 500 auger holes based on a square 100 by 100 metre grid pattern over the\nentire tailings pond. The tailings pond has well defined boundaries and is not\nan in-situ mineral deposit.\n\n\nThe Company retracts the tailings resource estimate and restates it as an\n"estimate of tailings potential" with a range of approximately 17 million\ntonnes to 20 million tonnes with a range of between 0.30% to 0.45% copper (as\nrequired by section 2.3 of National Instrument 43-101). There has not been\nsufficient work to define a mineral resource and it is uncertain if future\nwork will result in the delineation of a mineral resource.\n\n\nMokambo Property\n\n\n----------------\n\n\nThe Company made available through its website an article (the "HRAJ\nArticle") prepared by the Hard Rock Analyst Journal. The HRAJ Article was\nprepared by a third party and is not, and was not intended to be considered as\nbeing, endorsed by the Company in any way. The HRAJ Article contains a number\nof disclosures and analyses that read as statements of historical mineral\nresource estimates, which are not disclosed in accordance with NI43-101,\nstatements of current mineral resource estimates, which do not appear to be\nprepared in accordance with NI43-101, statements o...