VANCOUVER, Jan. 25, 2013 /CNW/ - Kombat Copper Inc. (the "Company") (TSX.V: KBT) is pleased to report that drilling has resumed at its 80% owned Kombat
Mine in Namibia and expects to deliver 2012 drilling results shortly.
One diamond drill rig is currently operating at the Asis Far West
("AFW") area close to the new 850 meter exploration and development
shaft located within the Kombat mining licence. A series of five holes
has been designed to confirm historical resources identified by
previous owners and prove there is great expansion potential of the
known copper ore body as the Company moves towards delivering a NI
43-101 compliant resource. The initial hole has a target depth of
approximately 900m and is expected to be completed in February 2013.
The remaining four holes will proceed uninterrupted.
The Company completed its initial diamond drilling program consisting of
seven (7) holes totaling 1437 metres in December 2012. These holes were
designed to confirm historical copper-lead-zinc-silver mineralization
within the eastern near-surface portion of the main Kombat orebody
located 3 km east of the AFW shaft.
Prior to seasonal shutdown, the Company submitted over 600 samples to
the Bureau Veritas Laboratory whilst the remaining samples are being
processed for shipping and assay. Results from this program are
Mr. Alexander Helmel, the Company's President states: "Our initial
drilling program was designed primarily to confirm known copper lead
zinc silver resources and has only scratched the surface of the
project. Our team continues to execute its strategic plan to tap into
the mine's true potential and we feel positive that the Kombat mine has
significant untapped mining potential at our finger tips and blue sky
exploration potential yet to unlock shareholder value."
Mr. Colin Russell, P.Geo., the Qualified Person as defined by National
Instrument 43-101, is responsible for the design of the program, and
all exploration work on the Kombat Project will be done under his
supervision. Mr. Russell has read and approved the technical content
of this news release.
The Company has granted incentive stock options to certain directors and
consultants of the Company to purchase in aggregate, of up to 300,000
common shares of the Company. The stock options are exercisable on or
before January 24, 2018 at a price of $0.25 per share.
About Kombat Copper Inc.
Kombat Copper Inc. 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 a past producing mine, mill and concentrator historically
capable of processing 1,000 tonnes of ore per day. The project has more
than 100 years of production history and is located in northern
Namibia, a region known for copper production from high grade deposits.
In addition to these historically producing assets, the Company has
acquired five EPL's in close proximity to the mill and concentrator,
near the town of Tsumeb. These highly prospective EPL's cover an area
of more than 2,250 square kilometers. The Kombat Copper management team
and founders have a considerable amount of experience in Namibia and
internationally, and combines managerial, financial and technical
expertise used to generate value for project stakeholders.
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. 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 laws.
SOURCE: Kombat Copper Inc.
For further information:
Scott Kelly, Executive Vice-President
+1 (604) 495-8792
Kombat Copper Inc.
Suite 830 - 1100 Melville Street
Vancouver, British Columbia V6E 4A6