Kombat Copper Corporate Update: The Road to Bringing Kombat Mine Back Into Production
16 Enero 2014 - 12:50PM
Marketwired
Kombat Copper Corporate Update: The Road to Bringing Kombat Mine
Back Into Production
TORONTO, ONTARIO--(Marketwired - Jan 16, 2014) - Kombat Copper
Inc. ("Kombat Copper" or the "Company") (TSX-VENTURE:KBT) is
rapidly taking steps to determine the cost and schedule for
bringing the former producing Kombat Mine, located in northern
Namibia, back into production.
Extensive data related to past production and resource drilling
is being compiled and Southern African consulting groups have been
approached to scope out the requirements for a technical report.
This will enable the Company to formulate a time line and budget to
get the Asis Far West sector of the Kombat Mine into production.
This study is to be completed in the second quarter of 2014. Based
on the conclusions of that study, the Company plans to undertake a
detailed budget, plan and schedule including but not limited to
technical feasibility studies, detailed engineering, permitting and
other aspects of putting the deposit into commercial production
including, shaft and underground rehabilitation, additional
resource drilling, processing plant overhaul and other
improvements. A resource estimate is the first priority.
Essentially, the study will serve as a blueprint for the
re-development of the property and will determine if further
exploration is required to define or upgrade a mineral resource. It
will also define what permitting is required and what further
technical studies need to be undertaken.
The Asis Far West area of the property was drilled from surface
in the 1980s and a number of significant copper intersections were
reported over a strike length in excess of 650 meters, including
10.0 metres at 8.05% copper and 9.0 metres at 2.67% copper.
Subsequently it was decided to sink a shaft 800 meters to the upper
limits of the favorable stratigraphy. A large diameter, 800 meter
deep production shaft was competed in 2006 and limited underground
workings were established. A limited amount of underground drilling
was carried out with intersections including 18.0 metres at 3.53%
copper and 6.15% copper over 8.0 metres. Unfortunately, economic
conditions and a heavy inflow of water in to the mine to the east
(not interconnected with Asis Far West) forced a shutdown of
commercial operations at Kombat Mine and the operation has been on
a care and maintenance basis ever since.
Kombat Copper is looking to define a minimum of 4-5 million
tonnes of copper mineralization averaging between 2.5% and 3.5%
copper in the Asis Far West Zone. (The potential quantities and
grades that are the target of the Company's planned future
exploration are based on previous drilling, planned surface and
underground drilling (10,000-20,000m) and sampling of underground
workings conducted on the property and are conceptual in nature.
There has been insufficient exploration to define a mineral
resource for the property. It is uncertain if further exploration
will result in the target being delineated as a mineral
resource.)
Bill Nielsen, the President and CEO of Kombat Copper, stated,
"Very recent geological investigations have indicated that a
significant re-interpretation of the geological model and
emplacement of copper mineralization at Kombat Mine is being
formulated. This new understanding can have long-term implications
on the Company's exploration and mining outlook. We still have
several kilometers of strike length to explore on our mining
license and believe that the favorable stratigraphic horizon
hosting significant copper mineralization is present to the west
where a 1980's drill hole intersected 1.68 metres assaying 11.7%
copper and 151.48 g/t silver."
Kombat Copper is also looking at the feasibility of expanding
the current milling facility from a 1,100 tonne per day operation
to something larger that would allow for improved economies of
scale. Past operators looked at an area for potential open pit
mining and this blended with underground material could justify a
mill expansion. Other operators in the area have intersected
significant copper mineralization that could also be used as custom
mill feed, which may help improve project economics.
The Company's on-site manager and staff have maintained the
Kombat Mine, including all its facilities and town site for the
past six years. Their commitment to the upkeep of the facilities is
expected to save the Company significant amounts of capital in the
future.
Kombat is studying the viability of disposing of non-core assets
such as the potential mining of material from the tailings
containment area resulting from past mining. A number of groups
have approached the Company with respect to re-processing what has
been estimated to be 10.6 million tonnes of material (Weatherly
2007). Detailed drilling of the stacked tailings in 2012 indicated
that the upper 15 meters of the dump (total height 25-26 meters)
contains material assaying 0.25% to 0.30% copper, based on the
average of the established regularly spaced drill holes. (The
Company is not treating historical estimates as current mineral
resources. A Qualified Person has not done sufficient work to
classify the historical work as a current mineral resources
estimate. Additional work will be required to verify historical
work completed at the Kombat Mine).
2014 Upcoming Events
Kombat Copper will be attending the Vancouver Resource
Investment Conference, January 19-20th, Mining Indaba Africa in
Cape Town February 3-6th and at PDAC March 1-2. The Company looks
forward to updating its shareholders and interested investors in
person at these conferences.
Investor Relations Manager Appointment
Kombat Copper announces that it has appointed Mr. Robert Hopkins
as Manager, Investor Relations effective January 1, 2014. Mr.
Hopkins will be paid a base salary of $1,300 per month and has been
granted 50,000 stock options at $0.13 expiring on January 2, 2019
as part of his compensation. These stock options will vest over a
period of 12 months in four equal installments with the first
installment vesting three months from the date of grant. Mr.
Hopkins shall not be engaged in any market-making activities and
does not currently hold any securities or convertible securities in
the Company other than those listed above.
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 2200 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, 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.
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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