|By Marketwired .||
|January 16, 2014 01:50 PM EST||
TORONTO, ONTARIO -- (Marketwired) -- 01/16/14 -- 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 approx. 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.
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.
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.
SYS-CON Events announced today that Harbinger Systems will exhibit at SYS-CON's 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Harbinger Systems is a global company providing software technology services. Since 1990, Harbinger has developed a strong customer base worldwide. Its customers include software product companies ranging from hi-tech start-ups in Silicon Valley to leading product companies in the US a...
Jul. 5, 2015 04:00 AM EDT Reads: 1,990
Containers are revolutionizing the way we deploy and maintain our infrastructures, but monitoring and troubleshooting in a containerized environment can still be painful and impractical. Understanding even basic resource usage is difficult – let alone tracking network connections or malicious activity. In his session at DevOps Summit, Gianluca Borello, Sr. Software Engineer at Sysdig, will cover the current state of the art for container monitoring and visibility, including pros / cons and liv...
Jul. 4, 2015 11:45 PM EDT Reads: 1,214
In his session at 16th Cloud Expo, Simone Brunozzi, VP and Chief Technologist of Cloud Services at VMware, reviewed the changes that the cloud computing industry has gone through over the last five years and shared insights into what the next five will bring. He also chronicled the challenges enterprise companies are facing as they move to the public cloud. He delved into the "Hybrid Cloud" space and explained why every CIO should consider ‘hybrid cloud' as part of their future strategy to achie...
Jul. 4, 2015 07:00 PM EDT Reads: 1,270
DevOps Summit, taking place Nov 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 17th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long development...
Jul. 4, 2015 06:45 PM EDT Reads: 1,300
"A lot of the enterprises that have been using our systems for many years are reaching out to the cloud - the public cloud, the private cloud and hybrid," stated Reuven Harrison, CTO and Co-Founder of Tufin, in this SYS-CON.tv interview at 16th Cloud Expo, held June 9-11, 2015, at the Javits Center in New York City.
Jul. 4, 2015 06:30 PM EDT Reads: 1,116
The time is ripe for high speed resilient software defined storage solutions with unlimited scalability. ISS has been working with the leading open source projects and developed a commercial high performance solution that is able to grow forever without performance limitations. In his session at Cloud Expo, Alex Gorbachev, President of Intelligent Systems Services Inc., shared foundation principles of Ceph architecture, as well as the design to deliver this storage to traditional SAN storage co...
Jul. 4, 2015 05:15 PM EDT Reads: 2,250
The last decade was about virtual machines, but the next one is about containers. Containers enable a service to run on any host at any time. Traditional tools are starting to show cracks because they were not designed for this level of application portability. Now is the time to look at new ways to deploy and manage applications at scale. In his session at @DevOpsSummit, Brian “Redbeard” Harrington, a principal architect at CoreOS, will examine how CoreOS helps teams run in production. Attende...
Jul. 4, 2015 05:15 PM EDT Reads: 974
Internet of Things (IoT) will be a hybrid ecosystem of diverse devices and sensors collaborating with operational and enterprise systems to create the next big application. In their session at @ThingsExpo, Bramh Gupta, founder and CEO of robomq.io, and Fred Yatzeck, principal architect leading product development at robomq.io, discussed how choosing the right middleware and integration strategy from the get-go will enable IoT solution developers to adapt and grow with the industry, while at th...
Jul. 4, 2015 04:30 PM EDT Reads: 2,305
In the midst of the widespread popularity and adoption of cloud computing, it seems like everything is being offered “as a Service” these days: Infrastructure? Check. Platform? You bet. Software? Absolutely. Toaster? It’s only a matter of time. With service providers positioning vastly differing offerings under a generic “cloud” umbrella, it’s all too easy to get confused about what’s actually being offered. In his session at 16th Cloud Expo, Kevin Hazard, Director of Digital Content for SoftL...
Jul. 4, 2015 04:00 PM EDT Reads: 2,431
17th Cloud Expo, taking place Nov 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy. Meanwhile, 94% of enterprises ar...
Jul. 4, 2015 02:00 PM EDT Reads: 1,074
Live Webinar with 451 Research Analyst Peter Christy. Join us on Wednesday July 22, 2015, at 10 am PT / 1 pm ET In a world where users are on the Internet and the applications are in the cloud, how do you maintain your historic SLA with your users? Peter Christy, Research Director, Networks at 451 Research, will discuss this new network paradigm, one in which there is no LAN and no WAN, and discuss what users and network administrators gain and give up when migrating to the agile world of clo...
Jul. 4, 2015 02:00 PM EDT Reads: 1,147
Agile, which started in the development organization, has gradually expanded into other areas downstream - namely IT and Operations. Teams – then teams of teams – have streamlined processes, improved feedback loops and driven a much faster pace into IT departments which have had profound effects on the entire organization. In his session at DevOps Summit, Anders Wallgren, Chief Technology Officer of Electric Cloud, will discuss how DevOps and Continuous Delivery have emerged to help connect dev...
Jul. 4, 2015 01:30 PM EDT Reads: 1,368
"We help to transform an organization and their operations and make them more efficient, more agile, and more nimble to move into the cloud or to move between cloud providers and create an agnostic tool set," noted Jeremy Steinert, DevOps Services Practice Lead at WSM International, in this SYS-CON.tv interview at @DevOpsSummit, held June 9-11, 2015, at the Javits Center in New York City.
Jul. 4, 2015 01:00 PM EDT Reads: 994
SYS-CON Events announced today that Secure Infrastructure & Services will exhibit at SYS-CON's 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Secure Infrastructure & Services (SIAS) is a managed services provider of cloud computing solutions for the IBM Power Systems market. The company helps mid-market firms built on IBM hardware platforms to deploy new levels of reliable and cost-effective computing and hig...
Jul. 4, 2015 01:00 PM EDT Reads: 1,315
"AgilData is the next generation of dbShards. It just adds a whole bunch more functionality to improve the developer experience," noted Dan Lynn, CEO of AgilData, in this SYS-CON.tv interview at 16th Cloud Expo, held June 9-11, 2015, at the Javits Center in New York City.
Jul. 4, 2015 12:45 PM EDT Reads: 1,106