{"id":49329,"date":"2024-10-24T11:50:36","date_gmt":"2024-10-24T10:50:36","guid":{"rendered":"https:\/\/www.innovationnewsnetwork.com\/?p=49329"},"modified":"2024-10-24T11:50:07","modified_gmt":"2024-10-24T10:50:07","slug":"koryx-copper-an-elephant-copper-project-to-discover","status":"publish","type":"post","link":"https:\/\/www.innovationnewsnetwork.com\/koryx-copper-an-elephant-copper-project-to-discover\/49329\/","title":{"rendered":"Koryx Copper: An elephant copper explorer to discover"},"content":{"rendered":"
Koryx Copper Inc<\/a>, a TSX-V listed company, focuses on developing its exciting Haib Copper project in Namibia and its large 752km\u00b2\u00a0 land position in the Zambian Copper Belt.<\/p>\n It is very unusual to find an exploration company holding a project of the magnitude of Haib Copper in Namibia. The project already hosts a resource totalling over 5.3 billion pounds of copper, with 60% sitting in the indicated resource category. Moreover, the ore tonnage is expandable at the surface and at depth.<\/p>\n The Haib project hosts a large tonnage \/ low-grade porphyry copper deposit. The team at Koryx was confident they could substantially increase the current grade of the indicated resource, pointing at an average of 0.31% Cu.<\/p>\n This strong confidence came from the fact that the predecessors of Koryx have drilled the deposit with vertical boreholes spaced by 150m. The deposit was always compared to copper porphyry deposits in the Andes, and the Koryx team thought it might be wrong because Haib is 1.8 billion years old.<\/p>\n In comparison, the Andes deposits are younger than 200 million years old. As it is quite old, the Haib deposit may have transformed substantially over its long life, and probably, the mineralisation was re-concentrated along newly identified structures such as quartz veins, faults and shears. Most of those structures are vertical or sub-vertical, and the vertical wide-spaced drilling may have missed a large number of those features.<\/p>\n The drilling programme designed by the Koryx team has proven the theory and turned out to be a major game changer<\/a>. Most of the 40 holes drilled by Koryx were in an inclined orientation to drill across the structures. The results were stunning, showing grades between 0.40% Cu and 3.95% Cu on very large extensions up to 220m. Those grades over large areas will add substantial economics to the project.<\/p>\n In February 2021, Koryx disclosed the results of a preliminary economic assessment (PEA) showing a Capex of 340m and an after-tax NPV of $1.3bn at a copper price of $3.50 per lb with an after-tax IRR of 36.1%. These are very appealing economics for a company like Koryx Copper.<\/p>\n An updated NI 43-101 resource estimation will be disclosed in August 2024. The company will resume drilling in the high-grade pits with the goal of developing measured resources that will be converted to reserves after the results of a metallurgical test work planned to start in September 2024. Exciting times are coming for Koryx.<\/p>\nPromising results<\/h3>\n
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Exploring the Zambian Copper Belt<\/h3>\n