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Mining industry

Koryx Copper Inc. Announces Significant Drill Results at Haib Copper Project in Namibia

Strategic Insights

— 1 min read

Koryx Copper Inc. has made a significant discovery at its Haib Copper Project in southern Namibia, with assay results from drill hole HM90 revealing a high-grade copper zone extending 110 meters from the surface. This finding provides compelling evidence of the potential for near-surface, high-grade starter pit development at the project. The company has also renewed its Exclusive Prospecting License and submitted a mining license application, marking important steps in de-risking the project and progressing towards obtaining necessary environmental and mining permits.

Key Takeaways:

  • Koryx Copper Inc. has announced significant assay results from drill hole HM90, which intersected copper mineralization from the surface to a depth exceeding 110 meters.
  • The drill hole returned an average grade of 0.33% copper over 419 meters, with a particularly high-grade zone of 110 meters grading 0.70% copper.
  • Within this zone, a contiguous 36-meter section averaged 1.42% copper, marking the widest continuous high-grade zone encountered at the Haib site.
  • The company has successfully renewed its Exclusive Prospecting License 3140, which is valid until July 2027, and has submitted a mining license application to the Ministry of Industry, Mines, and Energy.
  • Koryx Copper's ongoing efforts include completing an Environmental and Social Impact Assessment required for the mining license.
  • The company plans to engage with the ministry on technical updates while awaiting the evaluation of their application.
  • The recent achievements highlight the company's focus on expanding its resource potential and securing the necessary permits to advance the project towards production.

Statistics:

  • 0.33% copper average grade over 419 meters in drill hole HM90
  • 0.70% copper grade over 110 meters in drill hole HM90
  • 1.42% copper average grade over 36 meters in drill hole HM90
  • 110 meters of copper mineralization from the surface in drill hole HM90
  • 419 meters of copper mineralization in drill hole HM90
  • Exclusive Prospecting License 3140 valid until July 2027

Sources:

  • Koryx Copper Inc. announcement on the Johannesburg Stock Exchange (no date provided)
  • Johannesburg Stock Exchange (JSE) (no date provided)
  • ALS Laboratories in Johannesburg and ActLabs in Canada (no date provided)

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