Koryx Copper Provides Update on Zambia Projects with Definition of Drill Targets at Luanshya West and Completion of Regional Surface Geochemistry at Mpongwe
Executive Summary
- Koryx Copper reports extensive field work on its Luanshya West and Mpongwe licences in Zambia, identifying multiple high‑priority drill targets for a planned ~3,000 m drilling program in early 2026.
- Soil sampling (~1,000 samples at Luanshya West; ~5,000 at Mpongwe) and a drone‑mounted magnetic survey have refined geochemical anomalies and structural interpretations, highlighting several Cu‑Co enriched zones with supporting IP chargeability anomalies.
- The company retains a 51 % interest in the licences with an option to increase ownership to 80 % by spending US$3 million over the next 30 months.
Key Details
- Luanshya West Project (54 km²)
- Drone magnetic survey completed (50 m line spacing); data used for lithological/structural interpretation and target prioritisation.
- Follow‑up soil sampling of ~1,000 samples confirmed existing Cu‑Co anomalies and identified new targets.
- Test pits (1–2.3 m depth) at targets LWT1, LWT3, LWT6 revealed:
- LWT1: High Mn (>4,700 ppm), elevated Cu (~850 ppm) & Co (~1,100 ppm); pit samples up to 1,618 ppm Cu and 2,231 ppm Co at 1.2–1.8 m depth.
- LWT3: Cu up to 634 ppm, Co 112 ppm; pit Cu 1,387 ppm, Co 277 ppm (1‑2 m).
- LWT6: Cu up to 314 ppm, Co 174 ppm; pit Cu 722 ppm.
- Priority drill targets for 2026 include LWT1, LWT11, LWT3, LWT4, and LWT6 – each with defined strike lengths (400 m–1 km) and associated structural controls (NW‑SE faults, IP chargeability anomalies).
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Planned drilling: ~3,000 m total, combining direct target testing and deeper exploratory holes.
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Mpongwe Project (675 km²)
- Access challenges resolved; historical geophysics re‑interpreted, core re‑logged indicating Upper Roan Group lithology.
- First‑pass regional soil sampling completed: ~5,000 samples collected; results due Jan 2026.
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Anticipated follow‑up work and potential drilling in Q2‑2026, possibly integrated with Luanshya West program.
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License Ownership
- Current ownership: 51 % (company) with option to earn up to 80 % by incurring US$3 M of expenditures within the next 30 months.
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Legal counsel engaged to transfer licences into a Zambian wholly‑owned subsidiary; documentation pending with Ministry of Mines and Minerals Development.
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Quality Control
- Soil samples taken from B‑horizon (25–30 cm), sieved to 180 µm, QA/QC inserted at ~5 % frequency (blanks, CRMs, duplicates).
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Analyses performed by Intertek Genalysis (Kitwe & Perth labs) using multi‑acid digestion and ICP‑OES.
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Qualified Person
- Mr. Dean Richards, Pr.Sci.Nat., MGSSA – BSc (Hons) Geology, independent Qualified Person per NI 43‑101, reviewed and approved technical information.
Notable Quotes
“We are pleased to provide an update on our Zambian Projects where early stage exploration has progressed well through the field season… we are now ready for our maiden drill program in early 2026…” – Heye Daun, President & CEO
All forward‑looking statements are subject to risks and uncertainties; actual results may differ.