CHAMWE KAIRA
Koryx Copper says it remains firmly focused on advancing its flagship Haib Copper Project in southern Namibia, while making steady progress on copper exploration activities across its licence areas in Zambia despite weather-related setbacks.
The company said systematic exploration on its Luanshya West and Mpongwe projects in Zambia has helped identify priority targets for drilling while allowing it to relinquish less prospective ground.
Koryx Copper president and chief executive officer Heye Daun said heavy rainfall in Zambia had delayed field programmes this year but had not altered the company’s long-term plans.
“While our focus remains the Haib Copper Project in Namibia, this update on our Zambian Projects shows the progress we are making by carrying out systematic exploration aimed at identifying legitimate targets for drill testing and turning over ground that is less prospective,” Daun said.
He added that the company remains committed to advancing its Zambian assets once the transfer of the two exploration licences to its local subsidiary has been completed.
“Our next phase of work will focus on drilling at LuanshyaWest, while we assess surface anomalies at Mpongwe for possible drill testing later in the year,” he said.
Koryx, a Luxembourg-based copper development company, owns the Haib Copper Project outright while holding an option to acquire up to an 80% interest in the Luanshya West and Mpongwe exploration licences in Zambia’s Copperbelt.
The company described Haib as one of Namibia’s most significant copper deposits, with more than 120,000 metres of drilling completed since exploration began in the 1970s.
Previous exploration programmes have been undertaken by major mining companies including Falconbridge, Rio Tinto and Teck.
Koryx is continuing technical studies aimed at demonstrating Haib’s potential as a long-life, low-cost open-pit copper operation using sulphide flotation, with additional copper production expected to be supported through heap leaching.
The company said Haib hosts a porphyry-style copper deposit containing predominantly chalcopyrite, with smaller amounts of bornite and chalcocite.
It added that the deposit is one of only a handful of Paleoproterozoic porphyry copper deposits globally and one of just two known examples in southern Africa, both located in Namibia.
In Zambia, Koryx’s exploration portfolio lies within the Central African Copperbelt, one of the world’s largest sediment-hosted copper provinces, home to several world-class copper mines.
The company said ongoing exploration is aimed at identifying drill-ready targets capable of supporting future resource development.
