Kombat Copper Corporate Update
20 July 2012 - 10:00PM
PR Newswire (Canada)
VANCOUVER, July 20, 2012 /CNW/ - Kombat Copper Inc. (the "Company")
is pleased to provide this update on its Namibian copper projects
as well as its broader corporate objectives for the third and
fourth quarters of 2012. Following the April 24, 2012 acquisition
of the Kombat Copper Project in Northern Namibia, the Company has
now completed the necessary corporate restructuring to formalize
ownership of its Namibian holding and operating subsidiaries. With
the restructuring and the changeover of the relevant personnel,
management, and contractors complete, the Company has achieved a
major milestone and continues towards its goal of returning the
Kombat mine to production. Key elements of this objective
include completion of a focused drill program, evaluating the
economics of the existing resource, undertaking detailed
engineering studies, rehabilitating the existing mill and
concentrator, and dewatering the mine. Kombat Mine Update Since the
closing of the acquisition, the Company has: 1. completed the first
stage of its two-stage engineering study and has commenced the
second stage of mechanical and electrical evaluations of the Kombat
concentrator, 2. completed the dewatering study and entered
discussions with parastatal organizations for a potential water
off-take agreement, 3. completed the collection of available
historical data and is presently reviewing and digitising relevant
data for the purposes of initiating a scoping study, 4. engaged and
mobilized a geological team to commence and co-ordinate initial
exploration programs focussed on defining and developing the Kombat
resource model, 5. issued a RFP for an initial drilling program and
is evaluating multiple tenders received, and, 6. hired a local
mining and operations manager and appointed local directors,
lawyers, accountants, and auditors. "Our goal remains the restart
of production at the Kombat mine in Q4 of 2013," stated Alexander
Helmel, President of Kombat. "This is an aggressive, but
achievable target and our management team continues to meet all
milestones on time and on budget." EPL Update (Congo Namibia
Acquisition) The Company has commenced surface work and drilling at
the exclusive prospecting licenses ("EPL's") located within the
Voorbegin area of Namibia - approximately 30km north-east of
Kombat. Company geologists have reviewed the regional
magnetic data, and ten targets have been chosen for a shallow drill
program which is currently underway. Objectives for third and
fourth Quarters 2012 -- Complete phase I drilling program on Kombat
property. -- Meet all commitments for the EPL's. -- Complete a
scoping study of the Kombat deposit and update the NI 43-101. --
Complete a detailed engineering study and budget for the
rehabilitation of the concentrator and mine infrastructure. --
Recruit and hire key directors and enhance the senior management
team. -- Work closely with our key partner Epangelo Mining Co.
(Pty.) Ltd. and other Namibian partners to achieve our objectives
at Kombat and to position the Company for continued growth. "Our
objectives for the remaining quarters of 2012 and into 2013 are
well-defined and underway. We look forward to keeping our
shareholders informed as we advance the Company and our flagship
copper project in Northern Namibia," added Mr. Helmel. About Kombat
Copper Inc. Kombat Copper Inc. is a public Canadian exploration and
development company focused on the acquisition of copper assets in
southwestern Africa. The Company recently acquired the Kombat
Copper Project which consists of five mining licenses (three
covering the existing Kombat mine and two in close proximity with
additional mining possibilities), and a past producing mine, mill
and concentrator with historical input capacity of 1,000 tonnes of
ore per day. The project has more than 100 years of
production history and is located in northern Namibia within a
region known for copper production from high grade deposits.
In addition to the historically producing assets, the Company has
acquired five highly prospective EPL's which cover an area of over
2,250 square kilometers. These EPL's are also in northern
Namibia and cover an area in close proximity to Tsumeb and the
Kombat mill and concentrator. The Kombat Copper management
team and founders have a considerable amount of experience in
Namibia and internationally, and combine managerial, financial and
technical expertise which combined generate value for project
stakeholders. The Company's immediate initiatives are strengthened
by a clear commitment to community development and local
partnerships. Kombat believes its socio-economic initiatives will
benefit local communities and the goal of these programs is to
promote sustainable economic growth, improve education levels,
develop practical skills, and improve employment levels. These
programs will be implemented alongside Kombat's exploration and
development activities and are a critical part of our team's track
record of success. Qualified Person Mr. James Turner, a Qualified
Person as defined by National Instrument 43-101, has read and
approved the technical information contained herein. Neither the
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 of accuracy of this news
release. All statements in this news release, other than statements
of historical fact, that address events or developments that Kombat
Copper Inc. expects to occur, are "forward-looking statements".
Forward-looking statements are necessarily based on estimates and
assumptions that are inherently subject to known and unknown risks,
uncertainties and other factors that may cause Kombat Copper Inc.'s
actual results, performance or achievements to be materially
different from those expressed or implied by such forward-looking
statements. Such factors include, without limitation: significant
capital requirements and the ability to raise equity capital; the
risks of obtaining and maintaining the validity and enforceability
of the necessary licenses and permits and complying with the
permitting requirements in Namibia; the lack of certainty with
respect to foreign legal systems, which may not be immune from the
influence of political pressure, corruption or other factors that
are inconsistent with the rule of law; defining the project's
mineral resources; and the development of an economic resource
model. Forward-looking statements are not guarantees of future
performance, and actual results and future events could materially
differ from those anticipated in such statements. Kombat Copper
Inc. expressly disclaims any intention or obligation to update or
revise any forward-looking statements, whether as a result of new
information, events or otherwise, except in accordance with
applicable securities laws. Kombat Copper Inc. CONTACT: Alexander
Helmel, PresidentDirect: +1 (855) 565-8114Kombat Copper Inc.Suite
830 - 1100 Melville StreetVancouver, British Columbia V6E
4A6www.kombatcopper.com
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