Koryx files amended PEA for Namibia project
TSX-V-listed Koryx Copper, previously known as Deep-South Resources, has filed an amended preliminary economic assessment (PEA) technical report for the Haib copper project, near Noordover, in the south of Namibia.
The amendment has not impacted on the material components of the PEA, notably resources, metallurgy, mine plan, cost estimates, economic analysis and environmental matters, as announced in December 2020, the company says.
As disclosed in its February 7, 2023 news release, because Koryx was in a legal dispute with the Ministry of Mines and Energy of Namibia over the licence renewal of the project, the company waited to clarify the legal status of the licence before proceeding with the required amendments to the original technical report.
Once the licence was renewed in July 2023, to address the deficiencies noted by the British Columbia Securities Commission and amend the report accordingly, Koryx engaged the services of Damian Connelly and Peter Walker.
They are both independent qualified persons and contributing original co-authors of the February 2021 technical report.
The company has also appointed Mark Gallagher, an independent qualified person, for the purposes of Section 16 (Mining Methods) of the amended report.
The amended report dated January 8 maintains an effective date of February 1, 2021 on the company’s website.
The principal modifications to the amended report are adding a pit constraint in the mineral resource estimation; adding details to support the choice of the cut-off grade; removing five metal extraction options to keep only one base case; modifying the recommendations to propose to proceed with a prefeasibility study instead of moving forward immediately with a feasibility study; and removing all the appendixes attached the original February 2021 technical report.
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