Kombat Copper Provides Update on 2,000 Metre Drill Program
TORONTO, ONTARIO--(Marketwired - Apr 21, 2015) -
Editors Note: There are three photos and an image associated with this Press Release.
Kombat Copper Inc. (TSX VENTURE:KBT) ("Kombat" or the "Company") is continuing its 2,000 metre surface drill program at the Kombat Mine property. To date, a total of 17 holes have been completed and core logging and sampling are ongoing. Samples from the initial 5 holes, as well as trench and underground samples, have been sent to a commercial laboratory for assay with initial results expected in a few weeks' time. The program is designed to renewed focus on defining a near-surface mineral resource to support an open pit mining scenario that would allow the Company to fast track to production.
Drilling is targeting a strike length of 1,500 meters between the #1 and #3 shafts where past mining has provided positive indications of near surface copper mineralization (See Figure 1) set out below.
Bill Nielsen, President of Kombat Copper recently returned from Namibia and observed the initial phase of drilling and exploration work. He commented, "We continue to learn more and more about the past workings at Kombat Mine and how they relate to copper mineralization. We believe, the distinct lack of exploration work over the past 15-20 years has left huge potential to expand the Kombat Mine's resource base, both underground and near surface. The current drill program is undergoing constant review so that we can apply new-found information and interpretations. Several parallel mineralized zones are indicated which we believe enhances the opportunity for potential future open pit mining."
Recent field investigations have also revealed numerous access points to old underground workings and these are being investigated further to determine if remnant mineralization still remains. Historic workings from the 1908-1925 era have been trenched and sampled and underground investigation and sampling of shallow workings is ongoing.
The exploration work undertaken by the Kombat team has also uncovered that the past management team drilled 5 holes in 2012 to the east of the #3 Shaft (also shown in Figure 1) and have identified previously unreported copper intersections which include:
- Hole AE109A-12: 2.81% Cu and 53.3 g/t over 6.84 metres (from 39.23m to 46.07m) and 2.51% Cu and 15.54 g/t Ag over 6.26 m (from 96.84m to 103.1m)
- Hole AE89A-12: 0.93% Cu and 19.14 g/t Ag over 5.06 metres (from 31.0-36.06 m) and assaying 0.19% Cu, 5.23% Pb, 2.48% Zn and 6.17 g/t Ag over 5.99 metres (from 54.91 to 60.90m)
The remaining three holes did not return any significant values. The intersections are relatively close to surface and fit into the Company's concept of near surface mineralization. Readers are cautioned that the potential quantity and grade of the above results are conceptual in nature and that there has been insufficient exploration work to define a mineral resource and it is uncertain if further exploration will result in the target being delineated as a mineral resource.
A second phase of drilling will be required to attain a sufficient density of data to calculate a compliant mineral resource estimate.
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 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, two additional recently-operational shafts, three 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 opened in 1962 and historically produced 12.46 million tonnes of ore grading 2.62% copper over a period of 45 years. It 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.
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 scientific and technical information and has verified the data included in this press release. As the President and CEO of the Company, Mr. Nielsen is not considered independent.
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 proposed drill program, the anticipated timeline regarding the proposed drill program and availability of results, Company's expectations regarding mineral resources and potential development work and the Company's plans for the Kombat Mine. 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 the photos and image associated with this press release, please visit the following links:
Photo 1: http://www.marketwire.com/library/20150420-Kombat_Geologist.jpg
Photo 2: http://www.marketwire.com/library/20150420-Kombat_Mine_Site.jpg
Photo 3: http://www.marketwire.com/library/20150420-Kombat_Core_Shack.jpg
Figure 1: Longitudinal Section of the Kombat Mine Identifying Areas Being Drilled: http://media3.marketwire.com/docs/Kombat_Mine_Figure1.jpg
Contact
Kombat Copper Inc.
Bill Nielsen
President and CEO
+1 (416) 861-1685
Kombat Copper Inc.
Rob Hopkins
Manager, Investor Relations
+1 (416) 861-5899
info@kombatcopper.com
www.kombatcopper.com