Kombat Copper Completes Reviews on Historical Data and Begins Planning Exploration Programs
March 13 2014 - 6:30AM
Marketwired
Kombat Copper Completes Reviews on Historical Data and Begins
Planning Exploration Programs
TORONTO, ONTARIO--(Marketwired - Mar 13, 2014) - Kombat Copper
Inc. (TSX-VENTURE:KBT) ("Kombat" or the "Company") has completed a
review of historical work completed on its Exclusive Prospecting
Licenses (EPLs) and is now formulating work programs to test the
economic potential of these extensive land positions (5 EPLs
covering 1,550 km2).
The Company's primary objective is to bring the former producing
Kombat Mine back into production and significant efforts are being
made to achieve this goal. Kombat has some very attractive
exploration tenements in geologically favourable areas of Namibia
and efforts are being implemented to explore these land positions
for economically viable mineralization.
Kombat's most prospective exploration target is Kombat's strike
extension to the west of Weatherly International's Tschudi deposit
that is financed and being readied for production. Weatherly have
reported resources of 50.1 Mt grading 0.86% Cu and open pit
reserves of 22.7Mt grading 0.95% Cu. The ore will be processed
using heap leach and Solvent Extraction - Electro Winning (SX-EW)
for copper recoveries in the order of 85%. A total of 17,000 tonnes
of copper is expected to be produced annually from the Tschudi
deposit.
The Tschudi deposit is open at depth and along strike to the
west with Kombat Copper retaining the land position to the north,
south and west of this deposit. Historic soil sample results
display a distinct copper anomaly associated with the favourable
stratigraphic horizon on the Kombat ground to the west of the
Tschudi deposit. It is known that the deposit dips on to Kombat's
ground to the north but future exploration work will concentrate on
the geochemical anomaly to the west, which can be extrapolated over
a distance of 8-10 kilometers. It is Kombat's intent to drill test
this horizon this year. Once environmental management plans are in
place (expected at the end of Q1), this program can be
implemented.
The Company is targeting a minimum of 7.0-10.0 million tonnes of
near-surface oxide mineralization grading 0.75% to 1.0% copper.
Based on the anomalous geochemical results determined from the
database outline below and the proximity to Weatherly
International's Tschudi deposit, the Company feels that this
conceptual target is attainable. The potential quantity and grade
is conceptual in nature. There has been insufficient exploration to
define a mineral resource, and it is uncertain if further
exploration will result in the target being delineated as a mineral
resource.
Kombat has acquired a historical geochemical database consisting
of thousands of soil samples that cover a significant portion of
its three EPLs near the famous former producing Tsumeb Mine (30
million tonnes grading 4.3% Cu, 13.9% Pb/Zn, 95 g/t Ag, 50 g/t Ge).
The results of this geochemical database are still being evaluated
but a number of priority target areas have already emerged. These
targets will be subjected to further ground work and will be
drill-tested should the target ranking process dictate.
On its westernmost EPL 3943 (Figure 1), Kombat has defined a
geological/structural setting that bares distinct similarities to
the B2 Gold's Otjikoto Deposit (29 million tonnes grading 1.4 g/t
Au) that they are currently readying for production by the end of
2014. Soil sampling by Kombat Copper on EPL 3943 in 2012 defined a
distinct gold in soil response within the same geological sequence
that hosts the B2 Gold deposit. Drill testing is warranted.
Grant of Options
Kombat has granted a total of 625,000 stock options to various
directors and consultants of the Company in accordance with the
Company's stock option plan. The options have an exercise price of
$0.16 and will expire five years from the date of grant. The
options will vest immediately. The grant of options remains subject
to approval by the TSX Venture Exchange.
Engaging Transcend Resources Group
Kombat Copper has engaged Transcend Resource Group to provide
investor relations services to the Company. Transcend is a
well-known investor relations group that will assist Kombat Copper
with investor communications and the dissemination of Company news
and information. Kombat Copper has entered into a three-month
contract with Transcend whereby Transcend will be paid $5,000 per
month in consideration for such services. The contract is renewable
at Kombat Copper's option.
About Kombat Copper
Kombat Copper (TSX-VENTURE:KBT) is a publicly traded Canadian
exploration and development company with its core operations
focused on copper resources in Namibia, one of the world's most
prospective copper regions, where it has substantial assets in
place with significant exploration upside.
The Company holds an 80% interest in five mining licenses in the
Otavi Mountainlands, an area of Namibia particularly known for its
high-grade copper deposits. Within these licenses are three
past-producing mines including the Company's flagship property: the
past-producing Kombat Mine. The Kombat Mine's extensive
infrastructure includes an 800m production shaft which was opened
in 2006, three recently-operational shafts, ramp systems, extensive
underground workings, mine buildings, a tailings facility, a mill
and concentrator all supported by the Company's local town site.
The Kombat mine originally opened in 1962 and historically produced
~8.7 million tonnes of ore grading 3.1% copper and is linked to
vital existing infrastructure, including power, water, roads, and
rail with close proximity to the port of Walvis Bay and to one of
only five commercial-grade smelters in Africa located in Tsumeb,
located 100 road kilometers away from Kombat.
In addition to mining licenses, the Company holds an 80%
interest in five Exclusive Prospecting Licenses ("EPL's") covering
an area of more than 1550 km2. The EPL's are located also within
the copper-rich Otavi Mountainlands and are in close proximity to
Tsumeb.
Qualified Person
F. W. Nielsen, P.Geo., President and CEO of Kombat Copper, is a
"qualified person" as such term is defined in National Instrument
43-101 and has reviewed and approved the technical information and
data included in this press release.
Cautionary Notes
Neither 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 or
accuracy of this release.
This news release may contain forward-looking statements.
These statements include statements regarding the Company's plans
for the Kombat Mine, its expectations for the Kombat Mine and the
expected effect on the Company's financial and operating results.
These statements are based on current expectations and assumptions
that are subject to risks and uncertainties. Actual results could
differ materially because of factors discussed in the management
discussion and analysis section of our interim and most recent
annual financial statements or other reports and filings with the
TSX Venture Exchange and applicable Canadian securities
regulations. We do not assume any obligation to update any
forward-looking statements, except as required by applicable
laws.
To view Figure 1: Kombat Copper's Namibian Land Position, please
visit the following link:
http://media3.marketwire.com/docs/933107_FIGURE1.pdf.
Kombat Copper Inc.Bill NielsenPresident and CEO+1 (416)
861-1685Kombat Copper Inc.Rob HopkinsManager, Investor Relations+1
(416) 861-5899info@kombatcopper.comwww.kombatcopper.com
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