Kombat Copper Provides Update on Project Advancements
TORONTO, ONTARIO--(Marketwired - Nov 17, 2015) - Kombat Copper Inc. (TSX VENTURE:KBT) ("Kombat" or the "Company"), wishes to announce that it is still actively working on its primary asset, the Kombat Mine.
Kombat Copper is in discussions with a local mining group that has shown significant interest in fast tracking scaled production at the Kombat Mine. A due diligence period is in effect and the Company will report on any material advancement in negotiations as they occur.
Water continues to be pumped from the #1 shaft at the Kombat Mine, ultimately allowing underground workings to be accessed. Drought conditions in Southern Africa have prioritized the Kombat Mine as a significant source of potable water that can be used to benefit Namibia. In an agreement with the local water supplier, dewatering of the Kombat Mine is occurring at no cost to the Company.
The Company continues to scan and compile historic documents in an effort to have all mine workings in an electronic format for subsequent digitizing and modeling. Over 23,000 documents pertaining to the mine have been scanned and catalogued. The objective is to finish the initial scanning work by the end of the year.
As over 45 years of historic Kombat Mine documents are assessed, it has been interpreted by Kombat Copper that the Kombat East area of the Kombat Mine may contain appreciable amounts of lead mineralization. This documentation also indicates that significant lengths of mineralization may be present and a low-grade lead envelope with copper and silver credits may also be present. Past drilling has revealed verifiable assays including Hole KE593 that intersected 67.0m averaging 2.36%Pb and 0.34%Cu, Hole KE557 that intersected 100.0m averaging 2.42%Pb and 0.33%Cu and hole KE556 that intersected 41.0m averaging 2.35%Pb and 0.32%Cu. Work is ongoing to determine the overall configuration and extent of the lead mineralization and the Company hopes to be able to display a model of this mineralized zone early in the near future. Readers are cautioned that these historical records have been examined but not verified by a qualified person. Further work is required to verify these historical assays are accurate.
The Kombat Mine site continues to be maintained on a standby basis and cost cutting measures continue to be implemented.
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.
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 800 m 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. 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.
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 drill program, possible mineralization and deposits, the anticipated timeline regarding future exploration work and availability of results, Company's expectations regarding mineral resources and potential development work and the Company's plans for the Kombat Mine, including its dewatering and any financial impact. 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.
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
