Welcome!

News Feed Item

Kombat Copper Releases Initial Mineral Resource Estimate

- Initial NI 43-101 Inferred mineral resource estimate is 1.7 million tonnes grading 1.93% Copper and 16 g/t Silver, completed on a very limited section of the mine's potential.

TORONTO, ONTARIO -- (Marketwired) -- 05/20/14 -- Kombat Copper Inc. (TSX VENTURE:KBT) ("Kombat Copper" or the "Company") has completed its initial NI 43-101 Inferred mineral resource estimate for the Kombat Mine Project located in north central Namibia of 1.7 million tonnes grading 1.93% Cu and 16 g/t Ag. The current mineral resource estimate is presented in Table 1. A technical report will be filed under the Company's profile on SEDAR within 45 days of this release.

The Kombat Mine is a former producing copper mine that opened in 1962 and closed in 2008 with historical production of 12 million tonnes grading between 2.5% and 3.0% copper with additional credits for lead and silver. It has been mined over a strike length of 3.5 kilometers. Figure 1 shows the longitudinal projection of the Kombat Mine workings and the location of this initial mineral resource.

The initial Inferred mineral resource estimate was defined using the existing historic surface and underground drill holes from the Asis Far West part of the Kombat Mine Property. The Kombat technical team is still reviewing the extensive historical database, which now includes in excess of 7,000 drill holes, and they have identified significant opportunities to increase mineral resources with additional infill and expansion drilling.

Bill Nielsen, President and CEO of Kombat Copper commented; "This initial Inferred resource estimate at Asis Far West will allow us to continue with the preliminary economic studies focused on restarting the Kombat Mine operation. We are very excited not only with this initial resource estimate but the number of quality exploration targets we have been able to identify through the course of our data compilation of the Kombat properties."


----------------------------------------------------------------------------
Table 1: Asis Far West Inferred Resources at Various Copper Cut-Off Grades  
----------------------------------------------------------------------------
Cut-Off Grade              Tonnes   Bulk Density     Cu     Pb     Ag   CuEq
Cu%                       (000's)           t/m3      %      %    g/t      %
----------------------------------------------------------------------------
Wireframe                   2,967           2.82   1.39   0.17   12.6   1.58
----------------------------------------------------------------------------
0.25                        2,938           2.82   1.40   0.16   12.7   1.59
----------------------------------------------------------------------------
0.5                         2,729           2.82   1.48   0.15   13.2   1.67
----------------------------------------------------------------------------
1.0                         1,679           2.83   1.93   0.13   15.9   2.15
----------------------------------------------------------------------------
1.5                           787           2.85   2.71   0.13   20.3   2.98
----------------------------------------------------------------------------
2.0                           439           2.86   3.51   0.10   26.2   3.83
----------------------------------------------------------------------------
2.5                           286           2.88   4.19   0.09   30.7   4.56
----------------------------------------------------------------------------
3.0                           206           2.89   4.76   0.09   34.7   5.18
----------------------------------------------------------------------------
3.5                           155           2.90   5.27   0.09   38.8   5.73
----------------------------------------------------------------------------
4.0                           114           2.91   5.82   0.09   42.8   6.33
----------------------------------------------------------------------------
4.5                            78           2.92   6.53   0.09   48.1   7.10
----------------------------------------------------------------------------
5.0                            54           2.94   7.32   0.09   55.7   7.97
----------------------------------------------------------------------------

Notes to Mineral Resource Estimate


1.  CIM definitions were followed for Mineral Resources. 
2.  The Qualified Persons for this Mineral Resource estimate are: Richard
    Routledge, M.Sc. (Applied), P.Geo. and Eugene Puritch, P.Eng. of P&E
    Mining Consultants Inc. 
3.  Mineral Resources are estimated by conventional 3D block modeling based
    on wireframing at a 0.5% CuEq cut-off grade and inverse distance cubed
    grade interpolation. 
4.  CuEq is based on metal price only using the formula: CuEq = Cu% +
    (0.28(i) Pb%) + (0.0113(i) Ag g/t). 
5.  Metal prices for the estimate are: US$3.43/lb Cu, US$0.95/lb Pb,
    US$26.47/oz Ag based on a two-year trailing average as of February 28,
    2014.  
6.  A variable bulk density of 2.79 tonnes/m3 or higher based on density
    weighting has been applied for volume to tonnes conversion. The "revised
    Tsumeb" formula was used for bulk density calculation where bulk density
    = 363 / (130-(0.874 (i) (Cu% + Pb%))). 
7.  Mineral Resources are estimated from 1,307 m elevation to 677 m
    elevation, approximately 300 m depth to 947 m depth below surface. 
8.  Mineral Resources are classified as Inferred based on drill hole
    spacing, geologic continuity and quality of data. 
9.  A small amount of the resource may have been mined at the east end of
    the AFW zone but stope location and amount of material removed is
    uncertain.  
10. Mineral resources which are not mineral reserves do not have
    demonstrated economic viability. The estimate of mineral resources may
    be materially affected by environmental, permitting, legal, title,
    taxation, socio-political, marketing, or other relevant issues. There is
    no certainty that all or any part of the Inferred Mineral Resource will
    be upgraded to an Indicated or Measured Mineral Resource as a result of
    continued exploration. 
11. P&E recommends reporting resources at the 1%Cu block model cut-off
    grade. 

To view Figure 1, please visit the following link: http://media3.marketwire.com/docs/kbt0520fig1.pdf.

The new mineral resource estimate compares favourably to the most recent historic resource. The previous historic resource for the Asis Far West area, put out by past operators in 2004, using only wide-spaced surface drilling results.

Additional historic resources in the confines of the Kombat Mine, immediately to the west of the area covered by the current resource estimate, amounts to 623,000 tonnes grading 2.72% copper and 27 g/t silver(i). ((i)Referenced from Weatherly International PLC Annual Report, December 2010, Mineral Resources as at June 30, 2010. A qualified person has not done sufficient work to classify these historical estimates as current mineral resources or mineral reserves. Kombat Copper is not treating the historical estimates as current mineral resources or mineral reserves and the historical estimate should not be relied upon.)

Open zones remain undefined by sufficient drill density and are available for further resource expansion. The Company has identified numerous opportunities to further expand and upgrade the historic resources in order to grow on this initial mineral resource estimate. Remnant stopes and isolated mineralized drill intersections require further geological interpretation and additional detailed drilling to more fully define these resource opportunities.

Management believes there is significant potential to find additional mineralization in other parts of the Kombat Mine underground, at depth and along strike through additional detail surface and underground drilling and geological mapping. One drill hole established in the 1980's just off the west end of the Mining Licence, approximately 1,300 meters west from the Asis Far West shaft, intersected 10.72 meters @ 2.35% Cu and 33.38 g/t Ag. It is interpreted that the mineralized stratigraphy of interest is present for a significant strike length untested by past drilling.

Kombat Copper's plans for the remainder of 2014 include continued focus on the Asis Far West area of the Kombat Mine. Various studies on determination of production scenarios as well as estimated capital and operating costs are ongoing. Shaft, underground development and mill refurbishment studies are also being undertaken. The Company is also continuing its efforts to increase and improve estimated mineral resources within the mine environment.

Qualified Person

F. W. Nielsen, P.Geo., President and CEO of Kombat Copper, is the Qualified Person for the Company, who along with Eugene Puritch, P.Eng. and Richard Routledge, P.Geo. the Independent Qualified Persons, have all reviewed and approved the contents of this news release.

QA/QC

In P&E's opinion, results of the quality assurance/quality control program carried out by Kombat Copper for its 2012 re-sampling program indicate that the original assay data are not of industry accepted quality and there appears to have been a high bias in the original Kombat Mine laboratory assaying. The bias may have arisen from contamination at the sample preparation stage but may also have arisen through historic core sampling practice. The assay data may be used in an Inferred Resource estimate to permit evaluation of the project's potential, but extensive re-sampling of available AFW core for intervals within the Inferred Resource wireframes and assaying by commercial laboratories is necessary if the project is to advance to reserves estimation. For a Preliminary Assessment study, P&E recommends a review of the project sensitivity at lower grades/or lower revenues than indicated by the current Inferred 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 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 (replacement value est. +$100MM) all supported by the Company's local town site. The Kombat Mine 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 the Kombat Mine.

In addition to mining licenses, the Company holds an 80% interest in five Exclusive Prospecting Licenses ("EPLs") covering an area of more than 2200 km2. The EPLs are located also within the copper-rich Otavi Mountainlands and are in close proximity to Tsumeb.

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 mineral resource estimate, the Company's plans for the Kombat Mine, its expectations for the Kombat Mine and the potential of the 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.

Contacts:
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

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
IoT is at the core or many Digital Transformation initiatives with the goal of re-inventing a company's business model. We all agree that collecting relevant IoT data will result in massive amounts of data needing to be stored. However, with the rapid development of IoT devices and ongoing business model transformation, we are not able to predict the volume and growth of IoT data. And with the lack of IoT history, traditional methods of IT and infrastructure planning based on the past do not app...
All organizations that did not originate this moment have a pre-existing culture as well as legacy technology and processes that can be more or less amenable to DevOps implementation. That organizational culture is influenced by the personalities and management styles of Executive Management, the wider culture in which the organization is situated, and the personalities of key team members at all levels of the organization. This culture and entrenched interests usually throw a wrench in the work...
Niagara Networks exhibited at the 19th International Cloud Expo, which took place at the Santa Clara Convention Center in Santa Clara, CA, in November 2016. Niagara Networks offers the highest port-density systems, and the most complete Next-Generation Network Visibility systems including Network Packet Brokers, Bypass Switches, and Network TAPs.
WebRTC services have already permeated corporate communications in the form of videoconferencing solutions. However, WebRTC has the potential of going beyond and catalyzing a new class of services providing more than calls with capabilities such as mass-scale real-time media broadcasting, enriched and augmented video, person-to-machine and machine-to-machine communications. In his session at @ThingsExpo, Luis Lopez, CEO of Kurento, introduced the technologies required for implementing these idea...
Why do your mobile transformations need to happen today? Mobile is the strategy that enterprise transformation centers on to drive customer engagement. In his general session at @ThingsExpo, Roger Woods, Director, Mobile Product & Strategy – Adobe Marketing Cloud, covered key IoT and mobile trends that are forcing mobile transformation, key components of a solid mobile strategy and explored how brands are effectively driving mobile change throughout the enterprise.
Apache Hadoop is emerging as a distributed platform for handling large and fast incoming streams of data. Predictive maintenance, supply chain optimization, and Internet-of-Things analysis are examples where Hadoop provides the scalable storage, processing, and analytics platform to gain meaningful insights from granular data that is typically only valuable from a large-scale, aggregate view. One architecture useful for capturing and analyzing streaming data is the Lambda Architecture, represent...
SYS-CON Events announced today that delaPlex will exhibit at SYS-CON's @CloudExpo, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. delaPlex pioneered Software Development as a Service (SDaaS), which provides scalable resources to build, test, and deploy software. It’s a fast and more reliable way to develop a new product or expand your in-house team.
The explosion of new web/cloud/IoT-based applications and the data they generate are transforming our world right before our eyes. In this rush to adopt these new technologies, organizations are often ignoring fundamental questions concerning who owns the data and failing to ask for permission to conduct invasive surveillance of their customers. Organizations that are not transparent about how their systems gather data telemetry without offering shared data ownership risk product rejection, regu...
With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo 2016 in New York. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be! Internet of @ThingsExpo, taking place June 6-8, 2017, at the Javits Center in New York City, New York, is co-located with 20th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry p...
Extreme Computing is the ability to leverage highly performant infrastructure and software to accelerate Big Data, machine learning, HPC, and Enterprise applications. High IOPS Storage, low-latency networks, in-memory databases, GPUs and other parallel accelerators are being used to achieve faster results and help businesses make better decisions. In his session at 18th Cloud Expo, Michael O'Neill, Strategic Business Development at NVIDIA, focused on some of the unique ways extreme computing is...
The Internet of Things will challenge the status quo of how IT and development organizations operate. Or will it? Certainly the fog layer of IoT requires special insights about data ontology, security and transactional integrity. But the developmental challenges are the same: People, Process and Platform and how we integrate our thinking to solve complicated problems. In his session at 19th Cloud Expo, Craig Sproule, CEO of Metavine, demonstrated how to move beyond today's coding paradigm and sh...
FinTech is the sum of financial and technology, and it’s one of the fastest growing tech industries. Total global investments in FinTech almost reached $50 billion last year, but there is still a great deal of confusion over what it is and what it means – especially as it applies to retirement. Building financial startups is not simple, but with the right team, technology and an innovative approach it can be an extremely interesting domain to disrupt. FinTech heralds a financial revolution that...
SYS-CON Events announced today that IoT Now has been named “Media Sponsor” of SYS-CON's 20th International Cloud Expo, which will take place on June 6–8, 2017, at the Javits Center in New York City, NY. IoT Now explores the evolving opportunities and challenges facing CSPs, and it passes on some lessons learned from those who have taken the first steps in next-gen IoT services.
As organizations realize the scope of the Internet of Things, gaining key insights from Big Data, through the use of advanced analytics, becomes crucial. However, IoT also creates the need for petabyte scale storage of data from millions of devices. A new type of Storage is required which seamlessly integrates robust data analytics with massive scale. These storage systems will act as “smart systems” provide in-place analytics that speed discovery and enable businesses to quickly derive meaningf...
SYS-CON Events announced today that WineSOFT will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Based in Seoul and Irvine, WineSOFT is an innovative software house focusing on internet infrastructure solutions. The venture started as a bootstrap start-up in 2010 by focusing on making the internet faster and more powerful. WineSOFT’s knowledge is based on the expertise of TCP/IP, VPN, SSL, peer-to-peer, mob...