VANCOUVER, July 20, 2012 /CNW/ - Kombat Copper Inc. (the "Company") (TSX-V: KBT) is pleased to provide this update on its Namibian copper projects as
well as its broader corporate objectives for the third and fourth
quarters of 2012.
Following the April 24, 2012 acquisition of the Kombat Copper Project in
Northern Namibia, the Company has now completed the necessary corporate
restructuring to formalize ownership of its Namibian holding and
operating subsidiaries. With the restructuring and the changeover of
the relevant personnel, management, and contractors complete, the
Company has achieved a major milestone and continues towards its goal
of returning the Kombat mine to production. Key elements of this
objective include completion of a focused drill program, evaluating the
economics of the existing resource, undertaking detailed engineering
studies, rehabilitating the existing mill and concentrator, and
dewatering the mine.
Kombat Mine Update
Since the closing of the acquisition, the Company has:
completed the first stage of its two-stage engineering study and has
commenced the second stage of mechanical and electrical evaluations of
the Kombat concentrator,
completed the dewatering study and entered discussions with parastatal
organizations for a potential water off-take agreement,
completed the collection of available historical data and is presently
reviewing and digitising relevant data for the purposes of initiating a
engaged and mobilized a geological team to commence and co-ordinate
initial exploration programs focussed on defining and developing the
Kombat resource model,
issued a RFP for an initial drilling program and is evaluating multiple
tenders received, and,
hired a local mining and operations manager and appointed local
directors, lawyers, accountants, and auditors.
"Our goal remains the restart of production at the Kombat mine in Q4 of
2013," stated Alexander Helmel, President of Kombat. "This is an
aggressive, but achievable target and our management team continues to
meet all milestones on time and on budget."
EPL Update (Congo Namibia Acquisition)
The Company has commenced surface work and drilling at the exclusive
prospecting licenses ("EPL's") located within the Voorbegin area of
Namibia - approximately 30km north-east of Kombat. Company geologists
have reviewed the regional magnetic data, and ten targets have been
chosen for a shallow drill program which is currently underway.
Objectives for third and fourth Quarters 2012
Complete phase I drilling program on Kombat property.
Meet all commitments for the EPL's.
Complete a scoping study of the Kombat deposit and update the NI 43-101.
Complete a detailed engineering study and budget for the rehabilitation
of the concentrator and mine infrastructure.
Recruit and hire key directors and enhance the senior management team.
Work closely with our key partner Epangelo Mining Co. (Pty.) Ltd. and
other Namibian partners to achieve our objectives at Kombat and to
position the Company for continued growth.
"Our objectives for the remaining quarters of 2012 and into 2013 are
well-defined and underway. We look forward to keeping our shareholders
informed as we advance the Company and our flagship copper project in
Northern Namibia," added Mr. Helmel.
About Kombat Copper Inc.
Kombat Copper Inc. (TSX-V: KBT) is a public Canadian exploration and
development company focused on the acquisition of copper assets in
southwestern Africa. The Company recently acquired the Kombat Copper
Project which consists of five mining licenses (three covering the
existing Kombat mine and two in close proximity with additional mining
possibilities), and a past producing mine, mill and concentrator with
historical input capacity of 1,000 tonnes of ore per day. The project
has more than 100 years of production history and is located in
northern Namibia within a region known for copper production from high
grade deposits. In addition to the historically producing assets, the
Company has acquired five highly prospective EPL's which cover an area
of over 2,250 square kilometers. These EPL's are also in northern
Namibia and cover an area in close proximity to Tsumeb and the Kombat
mill and concentrator. The Kombat Copper management team and founders
have a considerable amount of experience in Namibia and
internationally, and combine managerial, financial and technical
expertise which combined generate value for project stakeholders.
The Company's immediate initiatives are strengthened by a clear
commitment to community development and local partnerships. Kombat
believes its socio-economic initiatives will benefit local communities
and the goal of these programs is to promote sustainable economic
growth, improve education levels, develop practical skills, and improve
employment levels. These programs will be implemented alongside
Kombat's exploration and development activities and are a critical part
of our team's track record of success.
Mr. James Turner, a Qualified Person as defined by National Instrument
43-101, has read and approved the technical information contained
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 of accuracy of this news
All statements in this news release, other than statements of historical
fact, that address events or developments that Kombat Copper Inc.
expects to occur, are "forward-looking statements". Forward-looking
statements are necessarily based on estimates and assumptions that are
inherently subject to known and unknown risks, uncertainties and other
factors that may cause Kombat Copper Inc.'s actual results, performance
or achievements to be materially different from those expressed or
implied by such forward-looking statements. Such factors include,
without limitation: significant capital requirements and the ability to
raise equity capital; the risks of obtaining and maintaining the
validity and enforceability of the necessary licenses and permits and
complying with the permitting requirements in Namibia; the lack of
certainty with respect to foreign legal systems, which may not be
immune from the influence of political pressure, corruption or other
factors that are inconsistent with the rule of law; defining the
project's mineral resources; and the development of an economic
resource model. Forward-looking statements are not guarantees of future
performance, and actual results and future events could materially
differ from those anticipated in such statements. Kombat Copper Inc.
expressly disclaims any intention or obligation to update or revise any
forward-looking statements, whether as a result of new information,
events or otherwise, except in accordance with applicable securities
SOURCE Kombat Copper Inc.
For further information:
Alexander Helmel, President
Direct: +1 (855) 565-8114
Kombat Copper Inc.
Suite 830 - 1100 Melville Street
Vancouver, British Columbia V6E 4A6