TORONTO, ONTARIO--(Marketwired - June 17, 2015) - Kombat Copper Inc. (TSX VENTURE:KBT) ("Kombat" or the "Company") has received assay results from an additional fifteen holes of its recently completed 35 hole diamond drill program. Potential for a near-surface mineral resource is indicated along specific intervals of the Kombat Mine trend. The results from the final 6 holes of the program should be available in the next few weeks.
Drilling Highlights:
- Hole K15-015 intersected 16.31% Cu and 75.30 g/t Ag over a 2.34 core length
- Hole K15-022 intersected 2.01% Cu and 7.90 g/t Ag over a 8.23m core length
- Hole K15-029 intersected 1.05% Cu and 14.87 g/t Ag over a 10.56m core length
Full Results can be found in Table 1 set out below.
Bill Nielsen, President and CEO of Kombat Copper, commented: "We are continuing to experience very positive results from our drilling to date. The initial interpretation of the recent drilling continues to support our theory that the zones focused on have the potential to support an open pit resource, as the southern mineralized horizons appear to continue along strike. Also of interest are the results from hole K15-015 which returned a significantly higher grade of copper in a mineralized structure and style of mineralization that is relatively new to the Kombat Property. This will be of interest to us as we further our interpretation of the zones between the #3 Shaft and #1 Shaft."
Drilling Results to Date
The drill holes represented in this release have been drilled intermittently along a strike length of over 1,000 meters from an area east of the #3 Shaft to the #1 Shaft area. The elevated lead values in holes K15-021 are normal for mineralization located in the #3 shaft area. (See Figure 1 and 2). The elevated lead values in hole K15-026 are indicative of those observed in the southern mineralized horizon and are initially interpreted to be associated with the same mineralized horizon intersected in holes K15-004 (19.0m averaging 1.22% Cu and 2.24% Pb) and K15-005 (27.31m averaging 1.23% Cu and 1.95% Pb) located some 650 meters to the east. Additional work is required to substantiate this interpretation.
Hole K15-015 intersected a northern mineralized zone that was not previously intersected during this drill program (See Figure 2). Near surface mineralization at down-hole depths of 9.66m intersected massive malachite and bright orange/red cuprite (rarely seen at Kombat) that assayed over 40.0% Cu over a length of 0.94 meters. Further work is required to put this mineralization into context.
Hole K15-028 was drilled in the immediate area of old German mine workings from the 1908-1925 era. Unfortunately, it intersected an old stope and the hole had to be abandoned. Nevertheless, it appears that the walls of the stope contain appreciable copper mineralization. Additional drilling in the vicinity needs to be carried out to determine its extent and possibilities of including it in a near surface resource.
Holes K15-016, 019, 024, 025 and 027 did not return any significant mineralization. Hole K15-016 appears to be collared between the north and south mineralized zones, hole K15-19 was investigating a southern iron manganese zone but intersected a lens of overlying phyllite, hole K15-024 was lost at 14.4 meters before reaching its target, Hole K15-025 was exploring an area south of the southern mineralized horizon and K15-027 deviated and may have come up short of its target.
Table 1
| Hole # |
From
(m) |
To
(m) |
Length
(m) |
Est. True
Width
(m) |
Cu
% |
Pb
% |
Ag
g/t |
| K15-015 |
9.66 |
12.00 |
2.34 |
1.45 |
16.31 |
0.07 |
75.30 |
| K15-017 |
64.69 |
77.70 |
13.01 |
8.07 |
0.40 |
0.89 |
2.13 |
| K15-018 |
41.40 |
52.95 |
11.55 |
7.16 |
0.48 |
0.004 |
4.73 |
| K15-020 |
20.00 |
44.45 |
24.45 |
15.16 |
0.55 |
0.01 |
1.94 |
| K15-021 |
7.44 |
46.33 |
38.89 |
24.11 |
0.66 |
2.29 |
8.67 |
| K15-022 |
34.07 |
42.30 |
8.23 |
5.10 |
2.01 |
0.39 |
7.90 |
| K15-023 |
6.82 |
11.26 |
4.44 |
2.75 |
0.63 |
0.08 |
1.42 |
| K15-026 |
40.13 |
43.38 |
3.25 |
2.02 |
0.84 |
4.46 |
8.90 |
| K15-028 |
29.2 |
30.4 |
1.20 |
0.74 |
10.95 |
0.16 |
142 |
| K15-029 |
43.84 |
54.4 |
10.56 |
6.55 |
1.05 |
0.003 |
10.6 |
| *assumes zone are vertically dipping |
Readers are cautioned that the thicknesses and grade from the above intersections are not necessarily representative of potential resource tonnes and grade as there has been insufficient exploration work to define a mineral resource and it is uncertain if further exploration will result in the target being delineated as a mineral resource.
A second phase of drilling will likely be required to attain a sufficient density of data to calculate a compliant mineral resource estimate. The second phase drill program is scheduled to be completed once sufficient funding is in place and the Company will be providing interested parties and shareholders with updates as the results of this second phase drill program become available.
QA/QC
Assay QA/QC for these drill holes are checked and verified through the use of blind standards, duplicates and insertion of blind blanks into the sample stream. Initial indications are that the QAQC results are within expected limits. Samples were prepared at ALS Laboratory Namibia (Pty) Ltd and analyzed at ALS Minerals laboratory in Johannesburg, South Africa.
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 scientific and technical information and has verified the data included in this press release. As the President and CEO of the Company, Mr. Nielsen is not considered independent.
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 800m 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.
To view Figures 1 and 2, please visit the following link: http://media3.marketwire.com/docs/kbt0616fig12.pdf.