Koryx Copper Starts a Geophysical Survey in Zambia
November 29 2023 - 7:30AM
Koryx Copper Inc. ("Koryx" or “the Company") (TSX-V: KRY) announces
that it has initiated an induced polarization survey program at the
Luanshya West (23246-HQ-LEL) project in Zambia. The induced
polarization (IP) survey is a ground electrical geophysical survey
which will help with drill target generation exercise prior to
drilling. The IP survey will consist of two phases. The first phase
will include 40.1 line kilometres of gradient array IP at 100m
spacing over 6 targets totaling up to about 300 hectares that
exhibits consistent geochemistry anomalies with strong Cu and Co
association delineated from the previous soil sampling program and
defined by the interpretation report recently completed by Earthmap
Consulting. Phase two will comprise of pole dipole over IP
anomalies generated by the gradient array. The survey parameters of
pole dipole will depend on the geometry of the IP anomalies
generated by the gradient array IP.
Pierre Léveillé, Koryx's President & CEO,
stated, "This work program is a critical step toward delineating
and prioritizing drill targets. The Company's recently completed
review and interpretation of existing geochemical, geological, and
regional airborne data provided 6 prioritized zones warranting
detailed follow up groundwork. The IP survey will provide valuable
subsurface geophysical signatures within these prioritized zones
and support in defining drilling targets for a drill campaign to
come in 2024."
Earthmap Consulting was mandated to complete the
geophysical interpretation of airborne magnetic data available for
the Luanshya West project. The report concluded the following:
The superimposition of Koryx Copper latest soil
geochemical Cu and Co results suggest two styles of mineralization
targets:
1- A high priority Footwall Arenite-Hosted Cu-Co
soil anomaly with a footprint size similar to the Chibuluma South
deposit, as well as 14 km of currently under-sampled Lower Roan
Subgroup where additional Footwall Arenite-Hosted Cu-Co
mineralization may still be found.
2- Five additional Cu-Co soil anomalies are
situated in upper stratigraphy, namely Upper Roan Subgroup and
possibly Mwashya Subgroup. These anomalies may indicate
lateorogenic, structurally controlled Cu-Co mineralization. The
aeromagnetic data is of insufficient resolution to show possible
structural controls in all except one of these five targets.
Earthmap recommended to follow up the soil
anomalies of all the targets with an Induced Polarization (“IP”)
geophysical survey followed by drilling on the two anomalies
situated over the Lower Roan Subgroup (targets 1 and 2). Earthmap
also recommended the IP program and a high resolution magnetics
survey followed by drilling for the 5 other targets.
Other matters
The Company has granted an aggregate of 3.75 million stock
options of the company to directors, officers, and employees.
Each option entitles its holder to purchase one common share of
the company at a price of $0.08 per share for a period of 3 years
and will vest immediately. Options are granted in accordance with
Policy 4.4 of the TSX Venture Exchange and the terms and conditions
of the company's stock option plan.
About Koryx Copper Inc
Koryx Copper is a mineral exploration and
development company. Koryx growth strategy is to focus on the
exploration and development of quality assets in significant
mineralized trends and in proximity to infrastructure in stable
countries. The Company holds the Haib Copper Project in Namibia and
holds an interest in three exploration licenses in the Copperbelt
in Zambia. In using and assessing environmentally friendly
technologies in the development of its copper projects, Koryx
embraces the green revolution.
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
More information is available by contacting
Pierre Léveillé, President & CEO at +1-819-340-0140 or at:
info@koryxcopper.comwww.koryxcopper.com
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