Business
ICS clarifies its press release 08-02
VANCOUVER, April 4 /CNW/ - ICS Copper Systems Limited (TSXV: ICX) announces that, as a result of ...
About this update from Carlton Precious Inc
[{"type":"text","content":"\n\n\n\nVANCOUVER, April 4 /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\nSebembere Property\n\n\n------------------\n\n\nThe Company announced, in a news release dated January 30, 2008, that it\nhad entered into an agreement giving the Company the exclusive right to\nconduct due diligence on the Sebembere Mine until May 30, 2008, and thereafter\nan exclusive right to enter into a joint venture agreement to develop the\nSebembere Mine. The news release discloses an unclassified historical estimate\nfor the Sebembere Mine, which was derived from a geological report prepared by\nGeomin covering the period 1970-1973. The report prepared by Geomin was not\nprepared in accordance with NI 43-101, and the Company has not completed an\nindependent review of the data and methodology employed by Geomin geologists.\nThe tonnage was based on a 10,700 meter drill program. The volume calculation\nmethod applied has been that of polygonal outlines around diamond drill hole\nmineralized intersections based on vertical sections combined with horizontal\nsections. The use of the two orientations has allowed the outlining of certain\nblocks of mineralization by establishing their limits by the vertical sections\ndetermined through boreholes, and horizontally by hypothetically established\nhorizons on 100 meter spacings. The grade was based on "ore dressing" tests\ncarried out on three samples made up of 44 mixed separate samples gathered\nfrom boreholes.\n\n\nThe Company retracts the estimate and restates it as an estimate of\nexploration potential with a range of approximately 16 to 20 million tonnes,\ngrading a range of approximately 1.31% to 1.8% copper. The potential quantity\nand grade is conceptual in nature, a qualified person has not done sufficient\nwork to define a mineral resource and it is uncertain if future work will\nresult in the delineation of a mineral resource. The historical estimate\nshould not be relied upon.\n\n\nMokambo Property\n\n\n----------------\n\n\nThe Company distributed, at the Vancouver Roundup Conference in January\n2008, copies of a Business TV presentation highlighting the Company. The\npresentation included an oxide estimate with applied pr...