Koryx Copper (formerly Deep-South) CEO Pierre Léveillé says the previous owners of the Haib mine underestimated the deposit’s average grade.
The company released the first assay results Wednesday from its 2023/2024 drilling program at one of Namibia’s oldest copper mines.
Léveillé said the previous work estimated an average of 0.31% Cu, while recent work drilling has shown grades between 0.40% Cu Eq to 2.37% Cu Eq on extensions up to 200 meters.
“Our drilling results are a game changer and will strongly add value to the overall copper deposit and our shareholders,” Léveillé said.
At the cessation of activities in 2021, 22 boreholes had been completed, totalling 4,610.81m of the planned 10,000m.
Nineteen of these holes had been completely assayed, and one only partially assayed.
Activities resumed in October 2023 with a planned drilling programme of 4,000m focused on the Pit1 area.
The outstanding samples from the 2021 programme were immediately submitted to the laboratory.
Since the start of the programme, seven boreholes (1,320m) have been completed.
Five have been fully sampled and submitted to the laboratory. Assay results for 3, along with the HM12 results (sampled in 2021), were received in January 2024.
Currently, samples for 2 boreholes are at the laboratory, while a further 2 await dispatch.
The Haib Copper Deposit is one of the oldest deposits in the world.
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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 Haib deposit. 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, along with IP and Resistivity surveys, were conducted. One 120-diamond drill hole totalled 45,903 metres.
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 appointment 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 size 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.
