ICS Announces Appointment of Director
By Ics Copper Systems Ltd., PRNEThursday, August 26, 2010
ABBOTSFORD, Canada, August 27, 2010 - ICS Copper Systems Ltd. (ICX:TSX.V) is pleased to announce the
appointment of Mr. Larry Treadgold, B.Sc (Hons), C.Eng, FIMMM, to the Board
of Directors of ICS and as Chairman of ICS technical committee.
Mr. Treadgold has over 40 years' experience as an extractive metallurgist
and manager in gold, silver, copper & cobalt assets world wide. During his
career he has developed both green-field and brown-field sites and brought
them to optimum capacity and profitability.
His early career was spent in Africa on the Zambian Copper-belt where he
became Superintendent of Ndola Copper Refineries and precious metals plant.
He later joined Noranda Minerals Inc., where, as President of their precious
metal subsidiary, he was responsible for the management of operations,
engineering and technical developments of precious metal activities in the
United States and Asia.
In 2005, Mr. Treadgold assumed the responsibility of Director of
Metallurgy with BSG Resources responsible for the Luanshya and Chambeshi
operations in Zambia and the development of KOV, at the time the largest
copper and cobalt asset in the DRC. Mr. Treadgold was a key member of the
Executive team that successfully took this DRC asset to the market in 2007
with the flotation of Nikanor on the AIM exchange which raised (pnds
stlg)400m. Mr. Treadgold was appointed Director and Chief Metallurgical
Officer being responsible for process design, project development and on site
investor and bank relations until the merger with Katanga Mining. In
addition, he has spearheaded environmental impact studies and management
plans and developed compliance to Equator Principle standards to comply with
the necessities of debt financing.
Mr. Treadgold has also provided metallurgical consulting services to gold
and copper mining operations in the United States, Philippines, Azerbaijan,
Bulgaria, Africa and Central America.
STOCK OPTIONS GRANTED
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The company has granted 250,000 options to Mr. Treadgold at an exercise
price of $0.10 for a period of 10 years from the date of issuance. The
Company has granted a further 850,000 options to existing directors and
officers under the same plan. The Company has 526,387 options remaining under
the plan.
Mr. Treadgold is to assume the role of Chairman of the newly constituted
Technical Committee. Presently, other members of this committee are Mr. Dave
Wolfe, geologist with 40 years experience, and Mr. Chisholm, C.E.O. Mr. Wolfe
has acted as consulting geologist for the Excelsior Springs gold project for
several years and has largely contributed to previous drill programs
undertaken on the property. He has extensive knowledge of the geology of the
property and his future advices and direction will be invaluable.
Mr. Treadgold comments "I look forward working together with ICS as I
believe that the Excelsior acquisition holds a great deal of promise. The
potential of improved resources subsequent to infill drilling and the
exploration of other potential targets in the near vicinity could result in
significant upside potential."
This committee's current mandate is to examine a first drill program to
find near surface material amenable to a heap leach or agitated leach
process. This would be added to the existing surface material in and around
the Buster and Upper shafts and the tailings from the Pigeon Springs mill
located 5kms off the property. A preliminary economic analysis will be
undertaken to ascertain the viability of leaching and electro-winning this
product.
Secondly, the committee would examine the drilling of several deeper
vertical holes to test several domal features for potential gold
mineralization at depth. The main zone of gold identified to date suggests a
porphyry scenario in that at least 60% of all intrusion-related gold deposits
occur in major structural zones.
EXCELSIOR SPRINGS GOLD PROPERTY
——————————-
ICS has recently acquired 100% of the Excelsior Springs Gold property in
Nevada. Under the agreement ICS has paid for Bureau of Land Management (BLM)
and State fees and will pay USD 32,000 in lease payments in the first year,
USD 37,000 in the second year and USD 42,000 in the third year and 2% Net
Smelter Royalty (NSR) when entering in production, which can be bought out
for a final payment of USD 300,000.
President and CEO Graham Chisholm comments "We are pleased to have Larry
join our Board of Directors and to chair our newly formed technical
committee. His extensive metallurgical and mining experience and excellent
network of contacts in the industry will strengthen ICS and is a further step
in reorganizing our company."
ICS COPPER SYSTEMS LTD.
"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.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.
For further information: For further information: Graham Chisholm,
graham@icscopper.com, Office: +1-(604)-859-3007, Cell: +1-(604)-302-0746;
Jeannette Durand, jeannette@icscopper.com, Web Page: www.icscopper.com
For further information: For further information: Graham Chisholm, graham at icscopper.com, Office: +1-(604)-859-3007, Cell: +1-(604)-302-0746; Jeannette Durand, jeannette at icscopper.com, Web Page: www.icscopper.com
Tags: Abbotsford, August 27, canada, ICS Copper Systems Ltd.