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ICS Copper Systems Ltd acquires 77% interest in three properties in the Democratic Republic of Congo "DRC"
ICS Copper Systems Ltd acquires 77% interest in three properties in the Democratic Republic of Congo "DRC".
About this update from Carlton Precious Inc
[{"type":"text","content":"\n\n\n\nABBOTSFORD, BC, May 31 /CNW/ - ICS COPPER SYSTEMS LTD. (ICX:TSX.V) is\npleased to announce that it has entered into two agreements with A & Cladava\nto develop a total of three exploration mining properties in the DRC.\n\n\nThe first agreement, dated 20th May 2007, is a joint venture agreement\nbetween ICS and A & Cladava, whereby, for a consideration of USD 23,200.00,\nICS has acquired a 77% interest in a property to be called "ICS Tenke". This\n24 square kilometre property is located immediately east of the world class\nTenke Fungurume property in the Kolwezi region, Katanga Province, of DRC. No\nprevious geological work is known to have been undertaken on the property.\n\n\nThe second agreement, dated the 21st May 2007, is a joint venture\nagreement between ICS and A & Cladava, whereby ICS, for a consideration of USD\n42,000.00, has acquired a 77% interest in two properties, the first of which\nis historically known as "CHANGULUBE", a 36 square kilometre property in the\narea of Sakania, in the District of Haut-Katanga in the Province of Katanga.\nThe second property, historically known as "KASAMWA", is also a 36 square\nkilometre property also in the area of Sakania, in the District of\nHaut-Katanga in the Province of Katanga. Minimal geological work was\nundertaken in colonial times (approx 1920's) with 33 wells being dug and\nseveral trenches dug with reports of gold being present but the historical\nrecord is incomplete.\n\n\nICS Management views these properties as early stage exploration projects\nand will undertake preliminary exploration programs to explore for the\npresence of gold and copper and cobalt.\n\n\nThe company's main focus of attention remains the drill programme at the\nMokambo Mine in Zambia.\n\n\nAbout ICS Copper Systems Ltd.\n\n\n-----------------------------\n\n\nThe Company aspires to developing into being a major African mining\ncompany centered on the copper belt of Democratic Republic of Congo (DRC) and\nZambia. It holds an option agreement to acquire up to 80% of the Mokambo\nCopper mine in Zambia, an option agreement to acquire 76% of the Musoshi\nTailings in DRC and an option agreement to acquire 73.5% of a group of four\nmining concessions in DRC covering 5,366 square kilometres.\n\n\nON BEHALF OF THE BOARD OF DIRECTORS\n\n\n(Signed)\n\n\nGraha...