With copper prices running at high levels on continued supply concerns and hopes for further stimulus measures from China, many investors are looking for emerging options.
Koryx Copper Inc. (TSXV:KRY) is a Canadian mineral exploration company focused on the development of copper and molybdenum deposits.
The company’s flagship project is the Haib copper / molybdenum deposit in Namibia. With its recent success in drilling results, Koryx Copper presents a compelling investment opportunity for those looking to capitalize on the growing demand for copper.
The Haib deposit is one of the largest undeveloped copper deposits in Africa, with an estimated resource of 1.4 million metric tonnes of copper and 32.2 million metric tonnes of molybdenum. The deposit is known for its high-grade mineralization and substantial widths, making it an attractive prospect for mining.
Planview showing the positions of the boreholes reported. Source: Koryx Copper Inc.
In recent Koryx Copper news
Koryx Copper announced the results from its latest round of drilling at the Haib deposit.
The latest two drill holes build on the company’s story that the deposit can deliver high grades over substantial widths within the known historical resource.
- HM21: 0.36 per cent copper equivalent (CuEq) over 124.44 metres including 0.45 per cent CuEq over 26 metres; and 1.17 per cent CuEq over 2 metres; and 1.04 per cent CuEq over 2 metres; and 0.43 per cent CuEq over 16 metres
- HM16: 0.32 per cent CuEq over 18 metres from near surface including 6 metres at 0.45 per cent CuEq
In the first round of assay results, the company noted intersections of 202 metres at 0.49 per cent copper equivalent, including 4 metres at 2.37 per cent copper equivalent and 94 metres at 0.61 per cent copper equivalent. These results paint a clear picture of the deposit’s ability to deliver high-grade mineralization over substantial widths, further enhancing its economic viability.
The company’s president and CEO, Pierre Léveillé, said in a news release that previous operators underestimated the Haib Copper Deposit and the recent results from the drill program have generated a lot of enthusiasm among the team.
Significant intersections
| Hole# |
Zone |
From |
To |
Width |
CuEq |
Cu |
Mo |
| (m) |
(m) |
(m) |
(per cent) |
(per cent) |
(per cent) |
HM12
|
Main |
76.00 |
96.00 |
20.00 |
0.76 |
0.74 |
0.005 |
| Including |
92.00 |
96.00 |
4.00 |
2.37 |
2.35 |
0.005 |
| Main |
130.00 |
332.00 |
202.00 |
0.49 |
0.44 |
0.014 |
| Including |
238.00 |
332.00 |
94.00 |
0.61 |
0.58 |
0.010 |
| HM15 |
Main |
2.00 |
14.00 |
12.00 |
0.94 |
0.93 |
0.003 |
| Including |
4.00 |
12.00 |
8.00 |
1.07 |
1.06 |
0.004 |
HM15R
|
Main |
0.00 |
12.00 |
12.00 |
0.83 |
0.81 |
0.005 |
| Including |
2.00 |
10.00 |
8.00 |
0.95 |
0.93 |
0.006 |
| Main |
58.00 |
64.00 |
6.00 |
0.55 |
0.52 |
0.008 |
| Main |
90.00 |
112.00 |
22.00 |
0.35 |
0.34 |
0.003 |
HM23
|
Main |
120.00 |
164.00 |
44.00 |
0.62 |
0.60 |
0.007 |
| Including |
152.00 |
164.00 |
12.00 |
1.12 |
1.09 |
0.008 |
| Main |
198.00 |
226.00 |
28.00 |
0.53 |
0.49 |
0.012 |
| Main |
274.00 |
296.00 |
22.00 |
0.49 |
0.48 |
0.002 |
| Including |
280.00 |
288.00 |
8.00 |
0.62 |
0.61 |
0.004 |
| Main |
316.00 |
322.00 |
6.00 |
0.52 |
0.52 |
0.001 |
“Previous work estimated an average of 0.31 per cent Cu, while recent work drilling has shown grades between 0.40 per cent Cu Eq to 2.37 per cent Cu Eq on extensions up to 200 metres,” he said. “Our drilling results are a game changer and will strongly add value to the overall copper deposit and to our shareholders.”
In an interview with Stockhouse and The Market Herald’s Ryan Dhillon for “The Watchlist,” CEO Léveillé explained this is far above the average grade, leading to a new resource estimation scheduled for Q2 2024.
The timing of Koryx Copper’s success at the Haib deposit couldn’t be better, as the demand for copper continues to rise. Copper is a crucial component in various industries, including construction, electronics, and transportation. As global economies recover from the impact of the pandemic, the demand for copper is expected to surge.
Beyond even that, the push for renewable energy sources, such as solar and wind power, further drives the demand for copper, as these technologies heavily rely on the metal.
The market at a glance
Recent copper prices reflect this growing demand. Copper prices have been steadily increasing over the past year, reaching record highs in recent months. This surge in prices not only highlights the strong market demand for copper but also presents an opportunity for companies such as Koryx Copper to capitalize on the favourable commodity pricing.
Ivanhoe Mines (TSX:IVN) founder and executive co-chairman Robert Friedland said in a January 2024 interview with Bloomberg that the physical market for copper is “Very, very tight and now in deficit,” and with the U.S. the Federal Reserve rate cut on the horizon, the metal is set to explode this year.
According to the copper mining executive, the dollar-denominated price of the metal is likely to “Go up a lot” by the middle of the year.
Now could be an ideal time for investors to make a move into the copper space. Given the base metal’s high value, the market could enter a calming period depending on the number of imported goods and the next move by the Fed.
Investment corner
Koryx Copper Inc. offers an exciting investment opportunity with its Haib copper/molybdenum deposit in Namibia. The recent drilling results confirm the deposit’s ability to deliver high grades over substantial widths, making it an attractive prospect for mining. With the rising demand for copper and the favourable pricing environment, Koryx Copper is well-positioned to capitalize on the market’s appetite for this essential metal.
With a 100 per cent gain in share value over the past month, Koryx Copper trades at $0.075 per share. Investors looking to gain exposure to the growing copper market should consider adding Koryx Copper to their investment portfolios.
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