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 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.
Luanshya West project (LEL 23247). 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.
Koryx Copper has recently completed a first successful soil geochemical sampling program that has enabled the identification of 10 large copper anomalies and 13 large cobalt anomalies. 1987 samples were extracted and the 4 highest copper assays were of 634ppm, 602ppm, 568ppm and 506ppm. Peak copper values in Zambian deposits range between 150ppm and 450ppm. The 4 highest cobalt assays were of 558ppm, 282ppm, 179ppm, 174ppm. Peak cobalt values in Zambian deposits range between 50ppm and 170ppm.
Koryx Copper is currently preparing the next exploration phase, which will be disclosed by the end of August 2023
Chililabombwe project (LEL 23247). The licence is situated in the north of the Zambia Copper belt near the DRC border. The Large Exploration Licence covers 2,200 hectares (22.5 Sq, Km).
The project area is close to established copper / cobalt mines with Konkola mine 12 km west and the Lubambe mine 30 km to the north-west from the center of the project area.
Mpongwe project (LEL 23248). The licence is situated in the center of the Zambian Copper belt. The Large Exploration Licence covers 67,500 hectares (675 Sq. Km).
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.
Mineral Resources have not been estimated yet on the project nor has it demonstrated economic viability at this stage. The historical geophysical survy and sampling results demonstrate potential to classify the project as one of merit but are considered too speculative geologically to complete a NI 43-101 compliant resource estimation at this time and it is uncertain that those historic results will be converted into minerals resources.
Peter Walker B.Sc. (Hons.) MBA Pr.Sci.Nat. of P & E Walker Consultancy is the main author of the 43-101 resource qualification report on LEL 23246, and is the Qualified Person under the terms of National Instrument 43-101. Mr. Walker is responsible for the technical part of the web site.