Koryx Copper Resources (TSX-V: KRY) is a mineral exploration company, primarily held by Management and Directors with 10% of Koryx’s share capital and by Teck Resources Ltd with 14%.
Koryx Copper is actively acquiring, exploring, and developing major African mineral properties.
Koryx Copper’s growth strategy focuses on exploring and developing quality assets in significant mineralised trends, close to infrastructure, and stable countries.
Koryx holds 100% of the Haib Copper deposit south of Namibia. Haib is arguably the oldest porphyry deposit in the world and one of the largest in Africa.
Koryx also holds 51% with an option to acquire up to 80% in three large exploration licenses in the heart of the Copper Belt in Zambia, one of the most prolific copper belts in the world.
Koryx actively seeks other precious and base metals projects in Namibia and other stable countries.
Haib Copper
The Haib deposit has a distinct surface expression with abundant copper staining on fractures and joint planes, particularly in and around the dry riverbed of the Volstruis River.
This led to German prospectors identifying the deposit around the late 1800s or early 1900s. Small tonnages of high-grade copper carbonate ore were mined at this time.
After World War II, the prospect was pegged as claims by prospector George Swanson, who carried out small-scale mining and tank leaching operations.
Over 6,000 tons of hand-sorted high-grade copper ore were sold to the O’okiep Copper Mines across the border at Nababeep in South Africa, reportedly at grades of up to 18% Copper.
In 1963 – 1964, Falconbridge completed a more detailed exploration programme looking at the higher grade zones within the Haibdeposit. They drilled eleven diamond drill holes, totalling 1,012 metres of drilling. The drill hole intersections’ average grade was 0.33% Cu.
During 1968 – 1969, King Resources of South Africa Pty Ltd conducted a diamond drilling programme of 21 holes totalling 3,485 metres. They examined both lower and higher-grade sulphide zones, as well as the higher-grade oxide shear zones.
From 1972 to 1975, Rio Tinto Zinc conducted the first extensive and systematic investigation of the Haib deposit. Geochemical and chip sampling surveys were conducted along with IP and Resistivity surveys. They drilled one 120-diamond drill hole, totalling 45,903 metres.
The cores from this programme are still intact and stored in a core shed on site. RTZ was sampled by compositing half cores over 2-metre intervals and submitted these to determine total copper and, where appropriate, oxide copper (acid-soluble copper).
Composite samples from each drill hole were also tested metallurgically to determine recoverable copper. They were assayed for molybdenum, silver and gold, indicating average contents of 25 g/t Mo, 0.01 g/t Au, and 0.9 g/t Ag.
Tonnage and grade estimates at various cut-offs were made, and a conceptual pit design was proposed.
In November 1993, Rand Merchant Bank Ltd of South Africa acquired an option over the Haib property. Venmyn Rand Pty Ltd. produced a study of the project, including a compilation of all the available drill hole and assay records from previous investigations and set up a computerised drill hole database.
It was concluded that the increase in the copper price since the 1970s, the development of low-cost/high tonnage mining systems and new and refined technologies such as bacterial leaching, solvent extraction and electro-winning combined to create a situation where the development of the Haib deposit could represent an economic project; however, no further exploration work was done and work terminated in 1995.
In March 1995, Great Fitzroy Mines NL and RMB George Swanson signed a Namibian Copper Joint Venture.
From 1995 to 1999, NCJV drilled 12 infill holes, drilled five geotechnical investigation holes, completed 126 metres of excavation in an adit and two crosscuts for bulk sampling and metallurgical testing and carried out various test works, including mining cost audits, bio-leaching studies, and milling and grinding studies. NCJV ran into financial difficulties, and work was stopped at the Haib deposit in early 1999.
In 2004, Koryx Copper(Pty) Ltd (Koryx Copper) was granted the Exclusive Prospecting Licence 3140 (EPL) over an area of 74,563.0 ha covering the deposit and a vast surrounding area. This was subsequently renewed in April 2007, 2009, 2011, 2013 and 2015, reducing the area to 37,000ha after the 2007 renewal.
From 2008, Teck, under the option Agreement with Deep-South Resources, completed a comprehensive exploration programme at the Haib and its immediate surroundings.
CEO: Pierre Léveillé
Pierre Léveillé has over 28 years of experience in the International financial sector and 20 years of experience in the mining exploration industry. Léveillé started his career as an Investment Advisor and an Investment Banker with a large Canadian Securities brokerage firm. From the mid-1990s to today, he has been the executive and director of several active exploration companies in Africa. He has financed and managed exploration projects in Namibia since 1996, including acquiring and operating a diamond mine. He has realised over US$ 100 million in transactions and financing for Namibian, Ghanaian, Chilean and Canadian mining exploration projects.
