Koryx Copper drills 0.49% CuEq over 207 metres at Haiob project, Namibia
Koryx Copper Inc. [TSXV-KRY] reported the fifth assay results from its current drill program at its Haib Copper project in southern Namibia. The company’s latest four drill holes continue to confirm that the deposit can deliver high grades over substantial widths within the known historical resource.
Pierre Léveillé, President and CEO, stated: “We keep generating very positive results that demonstrate that the average grade of the deposit could be higher than the previous Mineral Resource Estimation. We are highly satisfied with those results which clearly add significant value to the deposit. We still have 9 holes that have been drilled with assays yet to be reported.”
Significant copper and molybdenum intersections include drill hole HM19 that returned 116 metres from near surface at 0.54% CuEq (copper equivalent). HM20: 26.00 m at 0.44% CuEq. HM24: 44.00 m 0.32% CuEq. HM36: 207 m at 0.49% CuEq, including 92.00 m at 0.58% CuEq. HM37: 255 m from surface at 0.36% CuEq, including 38.00 m at 0.45% and 98.00 m at 0.44% CuEq.
All drill intercepts included multiple +2 metre samples with >1.00% CuEq with one interval returning 3.95% CuEq, the highest in the history of the project.
The 5 holes for which assay results are reported here, cover 1,012.34 metres with 3 of the holes drilled in the centre of the Pit1 target area to close the sample spacing. The other 2 holes were drilled closer to the southern edge of the Pit1 target area primarily to better delineate the geometry of the multiple higher grade zones that have been shown to occur here and to close the sample spacing. Assay results of significant intersections are tabulated below:
HM19: With an average Cu grade of 0.40% for the full 188.62m of the hole, results for HM19 were excellent and in line with expectations as the primary purpose was to close the sample spacing of the shallow high-grade zone in Pit1. Along with HM34 (previously reported) it shows a significant widening of the high-grade zone eastwards for some 100m eastwards from the historical close spaced holes that first identified this mineralization.
HM20: Drilled 125m east of HM19, results show that the shallow mineralization in HM19 may develop a plunge moving further eastwards as the higher-grade mineralization was only detected from 62m.
HM24: Drilled from the same drill pad as HM20, results are very similar to HM20 with the higher-grade zone only appearing from 76m. Again, this could be indicative of the shallow mineralization developing a slight plunge towards the east.
HM36: Averaging 0.49% Cu for the total 206.74m of this hole, the results for HM36 are significant for a couple of reasons. First it shows that the deep high-grade mineralization detected in Directors Perch fan trends southeastwards, but it is not yet clear whether this is a vertical structure or a northward dipping zone or a combination of both. Secondly, it is the first hole in this area that has intersected the shallow mineralization in the Pit1 target area and the deeper mineralization as none of the Directors Perch fan holes show the shallow mineralization.
HM37: Averaging 0.36% Cu for the total 254.68m of this hole, the results for HM37 are significant for the same reasons described for HM36. Drilled from the same drilling pad but in different directions, HM37 shows the shallow high-grade mineralization as well as the deeper mineralization.
Since the resumption of drilling in October 2023, 25 holes have been completed totaling 4,629 metres. All 25 holes have been sampled and submitted to ALS for assaying with the results of 19 holes (2,388 samples) received to date from ALS. One borehole (1,000m) remain to be completed (120m).
The Haib Copper Deposit is a large copper/molybdenum deposit situated 40 km from the southern boundary of Namibia. The license covers 370 km2 (37,000 hectares). Over the years the project has seen 70,000 metres of drilling, several metallurgical test work programs, geophysical surveys, geological mapping, mine modeling and even a feasibility study in 1996. Deep-South holds all the historical data.
Koryx Copper holds the Haib Copper Project in Namibia and holds an interest in three exploration licenses in the Copperbelt in Zambia.