VANCOUVER, Oct. 18, 2012 /CNW/ - Kombat Copper Inc. (the "Company") (TSX-V: KBT) is pleased to provide an update on its Namibian copper projects.
The Company's flagship project, the Kombat Copper mine located within the copper-rich Otavi Mountain lands of northern Namibia, is a past producing world class underground copper mine, mill, and concentrator facility which has not been in operation since 2008. The Company believes that the project has robust economic potential to extract known copper, lead and silver resources from within the existing mine workings and to expand these known resources into unproven areas within the mining land package.
With the objective of returning the Kombat mine to production, the Company has focused its efforts on several key factors which will be required for pre-feasibility studies including: resource verification, modeling, and expansion; electrical and mechanical engineering; hydro geological mechanics; dewatering requirements; tailings evaluation; and mill refurbishment.
Kombat Mine Update
Since the last corporate update on July 20th 2012, The Company has advanced the Kombat project as follows:
|1)||hired a team of senior Geologists to lead the Company technically and to advance the Company's objective of defining a NI 43-101 compliant resource and completing a scoping study;|
|2)||completed inventory of the three core sheds and catalogued approximately two thirds of the historical core representing thousands of underground and surface holes;|
|3)||hired a Namibian team to complete the inventory and analysis of the remaining historical core and further analyse the Gross Otavi and Harisib mining licenses resource possibilities (also part of the Kombat land package);|
|4)||located and is presently re-sampling mineralised core from Asis East, Central, and West regions including 40% of the core from the Asis Far West region - a potential deposit in close proximity to the exploration shaft sunk in 2005 at a cost of approximately $40M and considered to have a potentially significant resource based on historical data;|
|5)||initiated analysis of this historical core with Bureau Veritas' (BV) ISO certified Lab in Namibia;|
|6)||defined a number of drill targets to verify existing core data, confirm historical mineralization, and to test highly prospective extensions of the known mineralization within the land package;|
|7)||signed a contract with Gecko Drilling (Pty) Ltd. and mobilized two diamond drill rigs to the property to commence drilling the above targets in October 2012;|
|8)||completed the second stage of its mechanical and electrical evaluations and is preparing a budget and timeline for the refurbishment and potential expansion of the existing 1,000 ton per day mill and concentrator;|
|9)||received a first round proposal from Nam Water for a bulk water off-take agreement which contemplates water off-take to begin in Q1 2013.|
"Our goal remains utilizing modern techniques to compile the exiting resource data into a compliant resource for justification of the refurbishment and re-opening of the Kombat mining complex," states Alexander Helmel, President of Kombat.
Congo Namibia EPL Update
The Company has recently completed an initial exploration program at a prospective region within one of the Company's Exploration Permit Licenses (EPL) near Grootfontein, Namibia. The program consisted of line cutting and magnetic work followed by the completion of 464.5 meters of diamond drilling in 7 holes. Core samples have been shipped to the BV laboratory in Swakopmund, Namibia for analysis by ICP-MS/ICP-OES for a full suite of minerals.
The target area is considered "blind" as there is both calcrete and windblown sand from the Kalahari group covering the area. The main focus of the drilling was nickel mineralization associated with the Grootfontein Magnetic Body and copper-zinc mineralization associated with the surrounding greenschists.
Results are expected prior to the end of October.
Near Term Objectives
The following objectives are outlined for the fourth quarter of 2012 and the first quarter of 2013:
- complete the first phase of verification drilling at Kombat property,
- complete assay verification of key portions of historical core,
- re-compose the Kombat resource model using modern GIS methods,
- define a NI 43-101 compliant resource(s) at the Kombat project and complete a scoping/pre-feasibility study,
- prepare budget and schedule for refurbishment of existing mill and concentrator,
- complete water off-take agreement,
- advance exploration programs at the five EPL properties,
- continue to work with Epangelo and our key local partners to position the Company for continued growth.
The Company has appointed Mike Slater as Corporate Secretary of the Company who replaces Mr. Casper Bych who has also resigned as VP Corporate Development. The Company wishes to thank him for his service and wishes him great success in his future endeavors.
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 Kombat Copper management team and founders have a considerable amount of experience in Namibia and internationally, and combine managerial, financial, and technical expertise to generate value for project stakeholders.
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.
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 release.
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:
Alexander Helmel, President
Direct: +1 (604) 495-8792
Kombat Copper Inc.
Suite 830 - 1100 Melville Street
Vancouver, British Columbia V6E 4A6