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:
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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; |
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completed inventory of the three core sheds and catalogued
approximately two thirds of the historical core representing
thousands of underground and surface holes; |
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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); |
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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; |
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initiated analysis of this historical core with Bureau Veritas'
(BV) ISO certified Lab in Namibia; |
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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; |
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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; |
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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; |
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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.
Qualified Person
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.