Koryx Copper progresses exploration at Zambia projects
TSX-V-listed Koryx Copper reports that while the company’s focus remains on its Haib copper project, in Namibia, it continues to carry out systematic exploration at its Zambian assets, with the aim of identifying legitimate targets for drill testing and turning over ground that is less prospective.
The company owns two large-scale exploration licences, the Luanshya West and the Mpongwe projects, in Zambia. At Mpongwe, about 4 000 soil samples – excluding quality assurance and quality control samples – have been collected.
First pass regional surface geochemical sampling over the Mpongwe licence identifies additional copper soil anomalies for follow-up in similar stratigraphic and structural setting to the Lwabufubu target.
The company notes that repeat soil sampling results confirm the Lwabufubu target as a priority for further work on the Mpongwe licence.
Field work is expected to begin in late July – after a heavy rain season – and will include initial reconnaissance visits to the Lwabufubu target, and MP1 and MP2 soil anomalies mapping, in-fill soil sampling and preliminary pitting and sampling; completion of regional soil sampling in areas to the north and west of Lwabufubu; ground geophysics to assist with prioritising drill targets at Lwabufubu; and shallow drilling to test bedrock in the vicinity of soil geochemistry anomalies or geophysical targets.
At the Luanshya West project, Koryx notes that the final results for sampling within the forestry area in the south-west of the licence were also received earlier in the year and have been incorporated into planning for the upcoming field programmes, but there is no change in the prioritisation and planned drill programmes.
The company says the drill programme has been delayed by the rain season and is expected to be carried out before the end of this year.
Moreover, the company notes that the process to transfer the licences into the company’s Zambia-registered wholly owned subsidiary is ongoing, with initial consent for the transfers having been received from the Director of Mining and Non-Mining Rights.
The company currently owns 51% of the licences and has an option to earn up to 80% with an additional $2-million expenditure over the next 18 months.
The company notes that it has retained legal counsel in Zambia to assist with the official lodging of documentation with the Ministry of Mines and Minerals Development.
“The heavy rains in Zambia have delayed our field programmes this year, but we remain committed to advancing our projects there, particularly once we have secured the transfer of the two licences to our local subsidiary.
“Our next phase of work will focus on drilling at Luanshya West, while we assess surface anomalies at Mpongwe for possible drill testing later in the year,” says Koryx president and CEO Heye Daun.
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