Koryx Copper (formerly Deep-South) 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.
The preliminary economic assessment indicates a life-of-mine of 24 years, a throughput of 20 million tonnes a year, and an estimated recovery of 80%.
Production of copper cathode is estimated at 35 332 tons per year and 51 081 tons per year of copper sulphate.
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, reportedly at 18% copper, were sold to the O’okiep Copper Mines across the border at Nababeep in South Africa.
In 1963–64, Falconbridge completed a more detailed exploration program looking at the higher-grade zones within the Haib deposit. They drilled eleven diamond drill holes, totalling 1,012 metres of drilling. The average grade of the drill hole intersections was 0.33% Cu.
During 1968–1969, King Resources of South Africa Pty Ltd conducted a diamond drilling program 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 and IP and resistivity surveys were conducted. One 120-diamond drill hole totalled 45,903 metres.
The cores from this program are still intact and stored in a core shed on site. RTZ was sampled by composing half bodies 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 electrowinning 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 37,000 ha after the 2007 renewal.
From 2008, Teck, under the option Agreement with Deep-South Resources, completed a comprehensive exploration program at the Haib and its immediate surroundings.
Luanshya West project (LEL 23247)
Koryx Copper holds the option to acquire up to 80% of three Large Scale Exploration Licences in the heart of the copper belt in Zambia.
The licence is situated in the center of the Zambian Copper belt which forms part of the Central African Copper belt, one of the most prolific copper belts in the world. The Large Exploration Licence covers 5,423.26 hectares (54.24 Sq. Km).
A NI 43-101 technical qualifying report is currently under review by the TSX-V.
The project prospectivity is based on the location of the subject property over the unconformable contact zone between basement granites and Lower Roan Group sediments where most copper belt mines in both Zambia and the Democratic Republic of Congo (the “DRC”) are located.
This prospectivity is reinforced by a positive series of coincident soil geochemical anomalies over the contact zone.
The project area is close to established copper / cobalt mines with Chibuluma mine some 35Km to the north-east, Chambishi mine 41Km north-northeast, N’changa mine 53Km north-northwest and Luanshya mine some 40Km east-southeast from the centre of the project area.
The Copperbelt province in Zambia is known as one of the most prolific copper belt in the world.
The licenses cover 752 sq. km. in the heart of the Central African Copper belt. The Copperbelt is the world’s largest sediment-hosted stratiform copper province.
It includes at least 14 giant deposits. The three Licenses sits on the same side of the Copperbelt which hosts 9 large copper mines.
Zambia offers Excellent infrastructures, and the licenses are near power lines. Zambia has a long tradition of mining and is a mining friendly jurisdiction and is very supportive.
The President of Zambia recently stated that he will take measures to support the industry to grow the copper production from 800,000 tonnes per year to 3 million tonnes by 2026.
Many major mining companies operate in the country such as Barrick, First Quantum, Rio Tinto, Kobold, Vendanta and Sino Metals.
