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 forthcoming.
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