Latest news with #Phase2
Korea Herald
29-05-2025
- Business
- Korea Herald
Hyundai E&C's Hillstate Yongin complex sees strong demand
Hyundai Engineering and Construction is seeing rapid sales at its latest residential project, Hillstate Yongin Markvalley. Located in Yongin, Gyeonggi Province, the complex consists of seven buildings with up to 27 floors and offers 660 units ranging from 84 to 182 square meters. Buyers can freely select their preferred unit and floor without the need for a housing subscription savings account or local residency, thereby preserving eligibility for future housing lotteries. One key factor driving demand is the upcoming tightening of mortgage regulations under the government's third phase of its stressed debt service ratio rules, which take effect in July. However, units contracted before June 30 will still fall under the more favorable Phase 2 regulations, allowing for more flexible financing. To further ease the financial burden on buyers, the initial down payment has been lowered to just 10 million won ($7,200). The development is strategically located near Samsung Electronics' planned 360 trillion won investment in a national advanced semiconductor complex, and is expected to benefit from significant long-term value appreciation. The area is also being boosted by improving transportation links, including the Seoul-Sejong Expressway and upcoming rail and road infrastructure projects. Residents will enjoy premium amenities, along with Hyundai E&C's "my HILLS" platform, which offers services such as maintenance requests, energy usage tracking and visitor scheduling. A Hyundai E&C official noted, 'We have seen a strong response due to the project's favorable financing conditions, strategic location and long-term growth potential.'
Time of India
28-05-2025
- General
- Time of India
Lok Vihar First Metro Station On Kamptee Run To Open In Nov
1 2 3 Nagpur: Maharashtra Metro Rail Corporation Limited (MahaMetro) is aiming to complete the Lok Vihar Metro Station by November this year, which would make it the first station to be commissioned under Nagpur Metro's Phase 2. Already, 100% piling work has been completed for the station which is coming up along the Kamptee highway on the Reach 2A stretch. Now, casting work has been taken up for three major slabs at the station, according to a senior MahaMetro official. One of the slabs was cast on Tuesday, and all three are scheduled to be completed by June 8, the official said. Piling work has also been completed at three other stations on the Kamptee corridor — Pili Nadi, All India Radio and Golf Club. In all, 528 piles have been executed across the four station sites — 148 at Pili Nadi, 122 at All India Radio, 140 at Lok Vihar and 118 at Golf Club. Simultaneously, piling work is in the final stages at three more stations — Kamptee police station, Kanhan and Transport Nagar. The work is expected to be completed within the next few days. Transport Nagar station is coming up on the Pardi corridor. The Reach 2 stretches from Automotive Square to Kanhan, which is subdivided into Reach 2A (Automotive Square to Lekha Nagar) and Reach 2B (Lekha Nagar to Kanhan). As per MahaMetro, 68% of pier work along the Reach 2A has been completed, along with 77% of pile caps. Segment casting has reached 40%, while span erection stands at 26%. These components are critical for shaping the elevated viaducts and ensuring structural stability. In a parallel development, MahaMetro has also completed major geotechnical investigations across all four stretches of the Phase 2 project, with minor work at the contractor level ongoing. This study of subsurface conditions ensures that foundation designs are sound and suitable for long-term Metro operations. Officials said over 90% of the land required for Phase 2 has been acquired. The Phase-II of Nagpur Metro aims to add 43.8km of new Metro lines and 32 stations, to enhance connectivity to suburban areas of the city. It is being executed across four stretches: Khapri to MIDC ESR, Prajapati Nagar to Transport Nagar, Automotive Square to Kanhan, and Lokmanya Nagar to Hingna. The extended network is expected to ease road congestion, enhance urban mobility, and support Nagpur's broader vision of becoming a more sustainable and accessible city.
Yahoo
26-05-2025
- Business
- Yahoo
Koryx Copper Announces Further Highly Encouraging Drill Results at the Haib Copper Project, Southern Namibia
Highlights • Completed 29 drill holes out of a planned 37 holes in Phase 2 for 8,647m of diamond drilling. • Many results received have higher Cu grade than average MRE over large intercepts and include: • HM62: 572m @ 0.33% Cu (0 to 572m) incl. 68m @ 0.53% Cu (76 to 114m) incl. 34m @ 0.42% Cu (188 to 222m) incl. 110m @ 0.41% Cu (232 to 342m) incl. 54m @ 0.41% Cu (452 to 506m) • HM51: 112m @ 0.32% Cu (20 to 132m) 12m @ 0.58% Cu and 0.09g/t Au (202 to 214m) • HM64: 28m @ 0.42% Cu (44 to 72m) 26m @ 0.66% Cu and 0.05g/t Au (88 to 114m) 48m @ 0.46% Cu (370 to 418m) • HM58: 92m @ 0.34% Cu (48 to 140m) • HM66: 12m @ 0.41% Cu (68 to 80m) 20m @ 0.38% Cu (164 to 184m) • HM67: 30m @ 0.36% Cu (78 to 108m) incl. 8m @ 0.54% Cu (96 to 104m) • Four additional man portable rigs expected to commence drilling second half of 2025, complementing the two track mounted and two skid rigs currently turning • Work is ongoing to produce updated geological model which will improve mineral resource estimation later in 2025, and will include enhancements in lithology, structure and modelling of Mo and Au by-products • Met testwork, infrastructure, environmental and permitting studies proceeding as planned VANCOUVER, British Columbia, May 26, 2025 (GLOBE NEWSWIRE) -- Koryx Copper Inc. ('Koryx' or the "Company") (TSX-V: KRY) is pleased to announce assay results from 12 drill holes (3,603m) received as part of the Phase 2 drill program for its 2025 exploration and project development strategy on the wholly-owned Haib Copper Project ('Haib' or the 'Project') in southern Namibia. Haib is an advanced-stage copper/molybdenum/gold project that is envisaged to produce a copper concentrate via a conventional crushing/milling/flotation metallurgical process, with the potential for additional copper production via heap leaching. Heye Daun, Koryx Copper's President and CEO commented: "We are very encouraged by the latest drill results which demonstrates that the Haib copper/molybdenum project continues to incrementally improve, albeit at a slightly slower drilling and assaying pace than we expected earlier this year. We now have a bulked-up technical team in place, with additional drill rigs expected to arrive within the next few weeks, which should improve our drilling rate from the 2nd half of the year. In parallel with the drilling, we are making very significant progress with the various met testwork components towards demonstrating the feasibility of a large-scale conventional sulfide flotation concentration flowsheet. Together with the various engineering specialists we have also made exceptional progress with the ancillary studies related to tailings deposition, site infrastructure, power and water supply, and concentrate transportation, all towards an updated technical report to be published late in 2025.'Figure 1: Plan view indicating the twelve recent drill hole locationsFigure 2. Long section looking northeast showing the twelve reported drill hole intersection depths relative to the model for Cu mineralization (true widths of the mineralization are unknown) Discussion of Drill Results Target 2 Results HM51 was drilled to provide more detail on the contact of the shallow mineralization identified here by previous drilling. Results show the shallow mineralization is present resulting in an approximate 50m horizontal expansion of the model in this area. Mo grades are relatively high averaging >140ppm for over 92m from 202m down-the-hole demonstrating the need for a separate model for Mo mineralization within the system. Transition Area between Target 2 and Target 4 Results Three of the reported holes (HM65, HM66 and HM67) were drilled in the transition area between Target 2 and Target 4, two in the east and one in the west. The eastern holes correlated very well with existing results and did not produce any material changes to tonnage or Cu grade in this area. Mo grades are shown to be relatively high, maintaining >100ppm over 150m but are disassociated with Cu. In the west, higher grade Cu mineralization is shown to extend to surface over an area 40m wider than previously modelled. Mo grades are high, averaging over 180ppm for the full 200m of HM65. Target 3 Results Five of the reported holes were drilled in the west of Target 3 to close the sample spacing and better define the geometry of the western and northern limits of the Target 3 mineralization here. Results indicate the following: The major vertical shear zone that is the northern limit for Target 3 is further north here than previously modelled resulting in a tonnage and grade gain. The structural complexity increases near the western limit of Target 3 where the high-grade mineralization is broken into two wide sub-vertical lobes. HM62 was thought to have been deflected from its planned trace into and subparallel to a mineralized domain or structure. However, comparison with historical data shows it has intersected an area drilled by 4 holes that did not intersect any meaningful grade. It has therefore resulted in a tonnage and grade gain. Transition Area between Target 3 and Target 2 Results Three holes (HM61, HM63 and HM64) were drilled to the north of Target 2. Mineralization has been shown to be present here which aligns with an eastward projection of the Target 3 mineralization and the purpose of these holes was to test this. Results for HM61 and HM64 show high grade mineralization is present in two wide zones (~100m and 50m wide) separated by a lower grade zone. HM63 shows that the shear zone that defines the northern limit of mineralization is slightly further south than previously modelled. Interpretation of Results The success of the drill program is demonstrated by the continuous nature of Cu mineralization within the system. The successful drill holes being reported have either generated wide mineralized intercepts in line with our expectation for the model or have intersected Cu grades above the average grade of the existing resource model for Haib. HM63 was drilled outside the higher-grade domain between possible structures to test the eastward extension of mineralization in the north of Target 2. It did not produce any significant intersections but confirmed the existing model while improving the resolution of the eastern limit of mineralization. The high grade Cu mineralization of Target 3 extends northwestwards with high grade Cu mineralization at or near surface. The southern limit of Target 3 also extends further southwards towards Target 4 than previously modelled. Mo is relatively well developed in Target 3, increasing with depth and uncorrelated with Cu. Target 2 mineralization extends further westwards than modelled, particularly in the intersection areas with Target 3 and Target 4. Target 2 is the best mineralized with respect to Mo showing multiple wide high grade (>0.01%) zones that extend to surface. Two meter intercepts of Mo grades exceeding 0.1% and even >0.3% Mo are regularly intersected here. The majority of the reported intercepts are in the shallow to middle reaches of the resource pit, with a number of the drill holes demonstrating higher grade Cu intercepts from surface. These intercepts will upgrade shallow areas of the block model and are expected to produce a slight increase in the tonnage and the grade of the overall resource. The effects of the improved resources in the shallow areas of the block model are expected to provide opportunities for selective starter pit mining in the initial years of the mine schedule. Drill Program and Modelling Update The team had initially planned to drill 55,000m over the Phase 2, 3 and 4 programs up until the end of 2025 which required additional man portable rigs to be mobilized during Q2 2025, and rigs operating on double shift to achieve the meter rate required. The overall schedule has been pushed back due to the delayed delivery of 4 of the newly manufactured man portable rigs, and many of the drill sites not being suitable for safe night-time drilling because of the rugged nature of the terrain. In the current schedule the Phase 2 program is now expected to be completed by mid-year, and the Phase 3 program by the end of Q1 2026. Compared with the original drill plan, Koryx now expects to complete 28,000m by the end of 2025, with much of the drilling being completed in the second half of the year. The final Phase 4 infill drilling program to convert the entire mineral resource to Indicated category will then begin in 2026 Q2 and be completed by the end of 2026. The key objectives of the drill programs are to firstly target higher grade areas of the system, and secondly to perform full multi-element assays to model potential byproducts, in particular Mo and finally to improve geological modelling. The Phase 2 drill results indicate that inclined drilling on modelled structural corridors has the potential to provide continuity of improved grades, especially in the Target 2 and Target 3 areas that have been tested to date. The improved multi-element assay coverage of the deposit is defining byproduct potential and assisting with better lithological characterization in the geological model. The wide and consistently mineralized Cu intercepts continue to return areas of Mo mineralization which are not well correlated with the Cu but occur in distinct vein sets. Additional logging and Mo assays will define a Mo-specific model. A revised geology model is being developed that integrates lithological, geochemical and structural insights from recent drilling. Relogging of historical drill holes is ongoing to reflect the improved logging systems and ensuring consistency in the new geological model. This will improve our ability to identify and target higher-grade areas with greater precision. Drill planning will be adapted continuously as new and improved geological information becomes available. The ultimate aim of this improved geological modelling exercise is to ensure consistency, enhance geological domaining, and ultimately produce an improved geological model and mineral resource estimate for the Haib project. Table of Significant Intersections (True Widths of the Mineralization are Unknown) Hole# Zone From (m) To (m) Width (m)1 Cu (%) Mo (%) Au (g/t) HM51 Entire Hole 0 293.2 293.2 0.29 0.007 0.026 Main 20 132 112 0.32 0.005 0.026 Including 88 98 10 0.48 0.001 0.034 Including 112 124 12 0.53 0.002 0.035 Main 202 214 12 0.58 0.012 0.085 Main 228 234 6 0.79 0.015 0.034 Main 248 256 8 0.75 0.018 0.067 Main 284 292 8 0.42 0.029 0.051 HM57 Entire Hole 0 299.3 299.3 0.20 0.003 0.019 Main 2 54 52 0.32 0.003 0.025 Including 10 16 6 0.63 0.001 0.033 Main 130 134 4 0.41 0.000 0.025 Main 216 234 18 0.35 0.005 0.021 HM58 Entire Hole 0 193.5 193.5 0.24 0.003 0.014 Main 48 140 92 0.34 0.004 0.014 Including 54 60 6 0.53 0.004 0.020 Including 100 116 16 0.49 0.009 0.018 HM59 Entire Hole 0 119.1 119.1 0.24 0.002 0.013 Main 46 96 50 0.30 0.003 0.014 Including 60 68 8 0.43 0.005 0.020 HM60 Entire Hole 0 182.8 182.8 0.23 0.002 0.014 Main 0 112 112 0.30 0.003 0.017 Including 64 68 4 0.68 0.005 0.024 HM61 Entire Hole 0 341.7 341.7 0.20 0.003 0.015 Main 178 184 6 0.37 0.002 0.022 Main 194 208 14 0.39 0.002 0.026 Main 240 244 4 0.41 0.003 0.023 Main 280 336 56 0.41 0.006 0.025 HM62 Entire Hole 0 572.0 572.0 0.33 0.009 0.019 Main 16 20 4 0.43 0.001 0.027 Main 28 32 4 0.43 0.001 0.033 Main 76 144 68 0.53 0.006 0.028 Including 102 108 6 0.97 0.003 0.043 Including 110 122 12 0.67 0.006 0.034 Including 124 136 12 0.69 0.005 0.036 Including 138 142 4 0.66 0.043 0.030 Main 188 222 34 0.42 0.021 0.022 Including 190 194 4 0.74 0.028 0.033 Main 232 342 110 0.41 0.008 0.021 Including 252 256 4 0.66 0.019 0.029 Including 280 292 12 0.63 0.002 0.034 Including 300 306 6 0.57 0.004 0.022 Including 328 334 6 0.67 0.006 0.023 Main 378 428 50 0.33 0.017 0.020 Including 408 414 6 0.48 0.066 0.031 Main 452 506 54 0.41 0.006 0.025 Including 464 470 6 0.60 0.005 0.044 Including 490 494 4 0.70 0.004 0.035 Including 498 506 8 0.50 0.005 0.033 HM63 Entire Hole 0 227.2 227.2 0.06 0.011 0.008 HM64 Entire Hole 0 443.9 443.9 0.24 0.009 0.014 Main 44 72 28 0.42 0.003 0.028 Including 44 46 2 1.08 0.004 0.042 Including 58 62 4 0.59 0.002 0.054 Including 68 72 4 0.57 0.009 0.038 Main 88 114 26 0.66 0.013 0.045 Including 90 96 6 0.81 0.006 0.058 Including 98 104 6 0.90 0.019 0.058 Including 108 112 4 0.85 0.029 0.059 Main 134 146 12 0.39 0.016 0.014 Main 202 216 14 0.31 0.080 0.017 Main 290 296 6 0.38 0.025 0.023 Main 370 418 48 0.46 0.021 0.026 Including 390 394 4 0.67 0.028 0.036 Including 398 412 14 0.78 0.014 0.046 HM65 Entire Hole 0 200.4 200.4 0.20 0.018 0.009 Main 22 84 62 0.32 0.016 0.013 Including 72 78 6 0.55 0.007 0.018 HM66 Entire Hole 0 359.3 359.3 0.15 0.009 0.000 Main 36 40 4 0.59 0.000 0.000 Main 68 80 12 0.41 0.013 0.000 Main 164 184 20 0.38 0.015 0.000 Main 328 344 16 0.31 0.001 0.000 HM67 Entire Hole 0 372.1 372.1 0.16 0.014 0.014 Main 40 48 8 0.31 0.024 0.009 Main 78 108 30 0.36 0.026 0.055 Including 96 104 8 0.54 0.004 0.1681. Widths are interval widths and not true widths. True widths of the mineralization are unknown. The reported intervals are calculated using the following parameters: a. Only Cu(%) was used to determine the intervals b. The target composite grade is ≥0.30% Cu. c. Composites start and end with samples ≥0.30% Cu. d. Grades between 0.20% and 0.30% are included in interval but generally constitute <40% of the interval. e. Consecutive samples between 0.20% and 0.30% should be fewer than 5 samples (10m). f. Grades below 0.20% are included but generally constitute <20% of the interval. g. Consecutive grades <0.2% should be fewer than 2 samples (4m). Quality Control All drill core was logged, photographed, and cut in half with a diamond saw. Half of the core was bagged and sent to ALS Laboratories Ltd. in Johannesburg, South Africa for analysis (SANAS Accredited Testing Laboratory, No. T0387), while the other half was quartered with one quarter archived and stored on site for verification and reference purposes while the other quarter will be used for metallurgical test work. 33 elements are analyzed by Induced Coupled Plasma (ICP) utilizing a 4-acid digestion and gold is assayed for using a 30g fire assay method. Duplicate samples, blanks, and certified standards are included with every batch and are actively used to ensure proper quality assurance and quality control ('QA/QC') The QA/QC frequency is 1 in 20 for each of blanks, duplicates and standards. Qualified Person Mr. Dean Richards MGSSA – BSc. (Hons) Geology is the Qualified Person for the Haib Copper Project and has reviewed and approved the scientific and technical information in this news release and is a registered Professional Natural Scientist with the South African Council for Natural Scientific Professions (Pr. Sci. Nat. No. 400190/08).Mr. Richards is independent of the Company and its mineral properties and is a Qualified Person for the purposes of National Instrument 43-101. AGM Results The Company is pleased to confirm that all items of business presented to the Company's shareholders pursuant to the Company's management information circular dated April 7, 2025 (the "Circular") at its Annual General & Special Meeting (the "Meeting") held on May 22, 2025 were duly approved by shareholder resolutions passed at the Meeting. Pursuant to the Meeting, Heye Daun, Alan Friedman, Alfredo Luis Riviere and Charles Loots were re-elected as directors; MNP LLP was appointed as auditors of the Company; and the Company's amended and restated omnibus securities based plan (the "Plan", as described in the Circular) was approved, including disinterest shareholders approval of the grant of 2,750,000 restricted share units under the Plan. About Koryx Copper Inc. Koryx Copper Inc. is a Canadian copper development Company focused on advancing the 100% owned Haib Copper Project in Namibia whilst also building a portfolio of copper exploration licenses in Zambia. Haib is a large, advanced (PEA-stage) copper/molybdenum porphyry deposit in southern Namibia with a long history of exploration and project development by multiple operators. More than 80,000m of drilling has been conducted at Haib since the 1970's with significant exploration programs led by companies including Falconbridge (1964), Rio Tinto (1975) and Teck (2014). Extensive metallurgical testing and various technical studies have also been completed at Haib to date. Additional studies are underway aiming to demonstrate Haib as a future long-life, low-cost, low-risk open pit, sulphide flotation copper project with the potential for additional copper production from heap leaching. Haib has a current mineral resource of 414Mt @ 0.35% Cu for 1,459Mt of contained copper in the Indicated category and 345Mt @ 0.33% Cu for 1136Mt of contained copper in the Inferred category (0.25% Cu cut-off). Mineralization at Haib is typical of a porphyry copper deposit and it is one of only a few examples of a Paleoproterozoic porphyry copper deposit in the world and one of only two in southern Africa (both in Namibia). Due to its age, the deposit has been subjected to multiple metamorphic and deformation events but still retains many of the classic mineralization and alteration features typical of these deposits. The mineralization is dominantly chalcopyrite with minor bornite and chalcocite present and only minor secondary copper minerals at surface due to the arid environment. Further details of the Haib Copper Project are available in the corresponding technical report titled, "NI 43-101 Technical Report – August 2024 Mineral Resource Estimate for the Haib Copper Project, Namibia" dated effective August 31, 2024 (the "Technical Report"). The Technical Report and other information is available on the Company's website at and under the Company's profile on SEDAR+ at ON BEHALF OF THE BOARD OF DIRECTORS"Heye Daun"President, CEO and Director Additional information is also available by contacting the Company: Julia Becker Corporate Communications jbecker@ 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. Cautionary Statement Regarding Forward-Looking Information This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, without limitation, statements regarding the use of proceeds from the Company's recently completed financings and the future or prospects of the Company. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect ", "is expected ", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking statements are necessarily based upon a number of assumptions that, while considered reasonable by management, are inherently subject to business, market, and economic risks, uncertainties, and contingencies that may cause actual results, performance, or achievements to be materially different from those expressed or implied by forward-looking statements. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, other factors may cause results not to be as anticipated, estimated, or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Other factors which could materially affect such forward-looking information are described in the risk factors in the Company's most recent annual management discussion and analysis. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws. Figures accompanying this announcement are available at: in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
26-05-2025
- Business
- Yahoo
Koryx Copper Announces Further Highly Encouraging Drill Results at the Haib Copper Project, Southern Namibia
Highlights • Completed 29 drill holes out of a planned 37 holes in Phase 2 for 8,647m of diamond drilling. • Many results received have higher Cu grade than average MRE over large intercepts and include: • HM62: 572m @ 0.33% Cu (0 to 572m) incl. 68m @ 0.53% Cu (76 to 114m) incl. 34m @ 0.42% Cu (188 to 222m) incl. 110m @ 0.41% Cu (232 to 342m) incl. 54m @ 0.41% Cu (452 to 506m) • HM51: 112m @ 0.32% Cu (20 to 132m) 12m @ 0.58% Cu and 0.09g/t Au (202 to 214m) • HM64: 28m @ 0.42% Cu (44 to 72m) 26m @ 0.66% Cu and 0.05g/t Au (88 to 114m) 48m @ 0.46% Cu (370 to 418m) • HM58: 92m @ 0.34% Cu (48 to 140m) • HM66: 12m @ 0.41% Cu (68 to 80m) 20m @ 0.38% Cu (164 to 184m) • HM67: 30m @ 0.36% Cu (78 to 108m) incl. 8m @ 0.54% Cu (96 to 104m) • Four additional man portable rigs expected to commence drilling second half of 2025, complementing the two track mounted and two skid rigs currently turning • Work is ongoing to produce updated geological model which will improve mineral resource estimation later in 2025, and will include enhancements in lithology, structure and modelling of Mo and Au by-products • Met testwork, infrastructure, environmental and permitting studies proceeding as planned VANCOUVER, British Columbia, May 26, 2025 (GLOBE NEWSWIRE) -- Koryx Copper Inc. ('Koryx' or the "Company") (TSX-V: KRY) is pleased to announce assay results from 12 drill holes (3,603m) received as part of the Phase 2 drill program for its 2025 exploration and project development strategy on the wholly-owned Haib Copper Project ('Haib' or the 'Project') in southern Namibia. Haib is an advanced-stage copper/molybdenum/gold project that is envisaged to produce a copper concentrate via a conventional crushing/milling/flotation metallurgical process, with the potential for additional copper production via heap leaching. Heye Daun, Koryx Copper's President and CEO commented: "We are very encouraged by the latest drill results which demonstrates that the Haib copper/molybdenum project continues to incrementally improve, albeit at a slightly slower drilling and assaying pace than we expected earlier this year. We now have a bulked-up technical team in place, with additional drill rigs expected to arrive within the next few weeks, which should improve our drilling rate from the 2nd half of the year. In parallel with the drilling, we are making very significant progress with the various met testwork components towards demonstrating the feasibility of a large-scale conventional sulfide flotation concentration flowsheet. Together with the various engineering specialists we have also made exceptional progress with the ancillary studies related to tailings deposition, site infrastructure, power and water supply, and concentrate transportation, all towards an updated technical report to be published late in 2025.'Figure 1: Plan view indicating the twelve recent drill hole locationsFigure 2. Long section looking northeast showing the twelve reported drill hole intersection depths relative to the model for Cu mineralization (true widths of the mineralization are unknown) Discussion of Drill Results Target 2 Results HM51 was drilled to provide more detail on the contact of the shallow mineralization identified here by previous drilling. Results show the shallow mineralization is present resulting in an approximate 50m horizontal expansion of the model in this area. Mo grades are relatively high averaging >140ppm for over 92m from 202m down-the-hole demonstrating the need for a separate model for Mo mineralization within the system. Transition Area between Target 2 and Target 4 Results Three of the reported holes (HM65, HM66 and HM67) were drilled in the transition area between Target 2 and Target 4, two in the east and one in the west. The eastern holes correlated very well with existing results and did not produce any material changes to tonnage or Cu grade in this area. Mo grades are shown to be relatively high, maintaining >100ppm over 150m but are disassociated with Cu. In the west, higher grade Cu mineralization is shown to extend to surface over an area 40m wider than previously modelled. Mo grades are high, averaging over 180ppm for the full 200m of HM65. Target 3 Results Five of the reported holes were drilled in the west of Target 3 to close the sample spacing and better define the geometry of the western and northern limits of the Target 3 mineralization here. Results indicate the following: The major vertical shear zone that is the northern limit for Target 3 is further north here than previously modelled resulting in a tonnage and grade gain. The structural complexity increases near the western limit of Target 3 where the high-grade mineralization is broken into two wide sub-vertical lobes. HM62 was thought to have been deflected from its planned trace into and subparallel to a mineralized domain or structure. However, comparison with historical data shows it has intersected an area drilled by 4 holes that did not intersect any meaningful grade. It has therefore resulted in a tonnage and grade gain. Transition Area between Target 3 and Target 2 Results Three holes (HM61, HM63 and HM64) were drilled to the north of Target 2. Mineralization has been shown to be present here which aligns with an eastward projection of the Target 3 mineralization and the purpose of these holes was to test this. Results for HM61 and HM64 show high grade mineralization is present in two wide zones (~100m and 50m wide) separated by a lower grade zone. HM63 shows that the shear zone that defines the northern limit of mineralization is slightly further south than previously modelled. Interpretation of Results The success of the drill program is demonstrated by the continuous nature of Cu mineralization within the system. The successful drill holes being reported have either generated wide mineralized intercepts in line with our expectation for the model or have intersected Cu grades above the average grade of the existing resource model for Haib. HM63 was drilled outside the higher-grade domain between possible structures to test the eastward extension of mineralization in the north of Target 2. It did not produce any significant intersections but confirmed the existing model while improving the resolution of the eastern limit of mineralization. The high grade Cu mineralization of Target 3 extends northwestwards with high grade Cu mineralization at or near surface. The southern limit of Target 3 also extends further southwards towards Target 4 than previously modelled. Mo is relatively well developed in Target 3, increasing with depth and uncorrelated with Cu. Target 2 mineralization extends further westwards than modelled, particularly in the intersection areas with Target 3 and Target 4. Target 2 is the best mineralized with respect to Mo showing multiple wide high grade (>0.01%) zones that extend to surface. Two meter intercepts of Mo grades exceeding 0.1% and even >0.3% Mo are regularly intersected here. The majority of the reported intercepts are in the shallow to middle reaches of the resource pit, with a number of the drill holes demonstrating higher grade Cu intercepts from surface. These intercepts will upgrade shallow areas of the block model and are expected to produce a slight increase in the tonnage and the grade of the overall resource. The effects of the improved resources in the shallow areas of the block model are expected to provide opportunities for selective starter pit mining in the initial years of the mine schedule. Drill Program and Modelling Update The team had initially planned to drill 55,000m over the Phase 2, 3 and 4 programs up until the end of 2025 which required additional man portable rigs to be mobilized during Q2 2025, and rigs operating on double shift to achieve the meter rate required. The overall schedule has been pushed back due to the delayed delivery of 4 of the newly manufactured man portable rigs, and many of the drill sites not being suitable for safe night-time drilling because of the rugged nature of the terrain. In the current schedule the Phase 2 program is now expected to be completed by mid-year, and the Phase 3 program by the end of Q1 2026. Compared with the original drill plan, Koryx now expects to complete 28,000m by the end of 2025, with much of the drilling being completed in the second half of the year. The final Phase 4 infill drilling program to convert the entire mineral resource to Indicated category will then begin in 2026 Q2 and be completed by the end of 2026. The key objectives of the drill programs are to firstly target higher grade areas of the system, and secondly to perform full multi-element assays to model potential byproducts, in particular Mo and finally to improve geological modelling. The Phase 2 drill results indicate that inclined drilling on modelled structural corridors has the potential to provide continuity of improved grades, especially in the Target 2 and Target 3 areas that have been tested to date. The improved multi-element assay coverage of the deposit is defining byproduct potential and assisting with better lithological characterization in the geological model. The wide and consistently mineralized Cu intercepts continue to return areas of Mo mineralization which are not well correlated with the Cu but occur in distinct vein sets. Additional logging and Mo assays will define a Mo-specific model. A revised geology model is being developed that integrates lithological, geochemical and structural insights from recent drilling. Relogging of historical drill holes is ongoing to reflect the improved logging systems and ensuring consistency in the new geological model. This will improve our ability to identify and target higher-grade areas with greater precision. Drill planning will be adapted continuously as new and improved geological information becomes available. The ultimate aim of this improved geological modelling exercise is to ensure consistency, enhance geological domaining, and ultimately produce an improved geological model and mineral resource estimate for the Haib project. Table of Significant Intersections (True Widths of the Mineralization are Unknown) Hole# Zone From (m) To (m) Width (m)1 Cu (%) Mo (%) Au (g/t) HM51 Entire Hole 0 293.2 293.2 0.29 0.007 0.026 Main 20 132 112 0.32 0.005 0.026 Including 88 98 10 0.48 0.001 0.034 Including 112 124 12 0.53 0.002 0.035 Main 202 214 12 0.58 0.012 0.085 Main 228 234 6 0.79 0.015 0.034 Main 248 256 8 0.75 0.018 0.067 Main 284 292 8 0.42 0.029 0.051 HM57 Entire Hole 0 299.3 299.3 0.20 0.003 0.019 Main 2 54 52 0.32 0.003 0.025 Including 10 16 6 0.63 0.001 0.033 Main 130 134 4 0.41 0.000 0.025 Main 216 234 18 0.35 0.005 0.021 HM58 Entire Hole 0 193.5 193.5 0.24 0.003 0.014 Main 48 140 92 0.34 0.004 0.014 Including 54 60 6 0.53 0.004 0.020 Including 100 116 16 0.49 0.009 0.018 HM59 Entire Hole 0 119.1 119.1 0.24 0.002 0.013 Main 46 96 50 0.30 0.003 0.014 Including 60 68 8 0.43 0.005 0.020 HM60 Entire Hole 0 182.8 182.8 0.23 0.002 0.014 Main 0 112 112 0.30 0.003 0.017 Including 64 68 4 0.68 0.005 0.024 HM61 Entire Hole 0 341.7 341.7 0.20 0.003 0.015 Main 178 184 6 0.37 0.002 0.022 Main 194 208 14 0.39 0.002 0.026 Main 240 244 4 0.41 0.003 0.023 Main 280 336 56 0.41 0.006 0.025 HM62 Entire Hole 0 572.0 572.0 0.33 0.009 0.019 Main 16 20 4 0.43 0.001 0.027 Main 28 32 4 0.43 0.001 0.033 Main 76 144 68 0.53 0.006 0.028 Including 102 108 6 0.97 0.003 0.043 Including 110 122 12 0.67 0.006 0.034 Including 124 136 12 0.69 0.005 0.036 Including 138 142 4 0.66 0.043 0.030 Main 188 222 34 0.42 0.021 0.022 Including 190 194 4 0.74 0.028 0.033 Main 232 342 110 0.41 0.008 0.021 Including 252 256 4 0.66 0.019 0.029 Including 280 292 12 0.63 0.002 0.034 Including 300 306 6 0.57 0.004 0.022 Including 328 334 6 0.67 0.006 0.023 Main 378 428 50 0.33 0.017 0.020 Including 408 414 6 0.48 0.066 0.031 Main 452 506 54 0.41 0.006 0.025 Including 464 470 6 0.60 0.005 0.044 Including 490 494 4 0.70 0.004 0.035 Including 498 506 8 0.50 0.005 0.033 HM63 Entire Hole 0 227.2 227.2 0.06 0.011 0.008 HM64 Entire Hole 0 443.9 443.9 0.24 0.009 0.014 Main 44 72 28 0.42 0.003 0.028 Including 44 46 2 1.08 0.004 0.042 Including 58 62 4 0.59 0.002 0.054 Including 68 72 4 0.57 0.009 0.038 Main 88 114 26 0.66 0.013 0.045 Including 90 96 6 0.81 0.006 0.058 Including 98 104 6 0.90 0.019 0.058 Including 108 112 4 0.85 0.029 0.059 Main 134 146 12 0.39 0.016 0.014 Main 202 216 14 0.31 0.080 0.017 Main 290 296 6 0.38 0.025 0.023 Main 370 418 48 0.46 0.021 0.026 Including 390 394 4 0.67 0.028 0.036 Including 398 412 14 0.78 0.014 0.046 HM65 Entire Hole 0 200.4 200.4 0.20 0.018 0.009 Main 22 84 62 0.32 0.016 0.013 Including 72 78 6 0.55 0.007 0.018 HM66 Entire Hole 0 359.3 359.3 0.15 0.009 0.000 Main 36 40 4 0.59 0.000 0.000 Main 68 80 12 0.41 0.013 0.000 Main 164 184 20 0.38 0.015 0.000 Main 328 344 16 0.31 0.001 0.000 HM67 Entire Hole 0 372.1 372.1 0.16 0.014 0.014 Main 40 48 8 0.31 0.024 0.009 Main 78 108 30 0.36 0.026 0.055 Including 96 104 8 0.54 0.004 0.1681. Widths are interval widths and not true widths. True widths of the mineralization are unknown. The reported intervals are calculated using the following parameters: a. Only Cu(%) was used to determine the intervals b. The target composite grade is ≥0.30% Cu. c. Composites start and end with samples ≥0.30% Cu. d. Grades between 0.20% and 0.30% are included in interval but generally constitute <40% of the interval. e. Consecutive samples between 0.20% and 0.30% should be fewer than 5 samples (10m). f. Grades below 0.20% are included but generally constitute <20% of the interval. g. Consecutive grades <0.2% should be fewer than 2 samples (4m). Quality Control All drill core was logged, photographed, and cut in half with a diamond saw. Half of the core was bagged and sent to ALS Laboratories Ltd. in Johannesburg, South Africa for analysis (SANAS Accredited Testing Laboratory, No. T0387), while the other half was quartered with one quarter archived and stored on site for verification and reference purposes while the other quarter will be used for metallurgical test work. 33 elements are analyzed by Induced Coupled Plasma (ICP) utilizing a 4-acid digestion and gold is assayed for using a 30g fire assay method. Duplicate samples, blanks, and certified standards are included with every batch and are actively used to ensure proper quality assurance and quality control ('QA/QC') The QA/QC frequency is 1 in 20 for each of blanks, duplicates and standards. Qualified Person Mr. Dean Richards MGSSA – BSc. (Hons) Geology is the Qualified Person for the Haib Copper Project and has reviewed and approved the scientific and technical information in this news release and is a registered Professional Natural Scientist with the South African Council for Natural Scientific Professions (Pr. Sci. Nat. No. 400190/08).Mr. Richards is independent of the Company and its mineral properties and is a Qualified Person for the purposes of National Instrument 43-101. AGM Results The Company is pleased to confirm that all items of business presented to the Company's shareholders pursuant to the Company's management information circular dated April 7, 2025 (the "Circular") at its Annual General & Special Meeting (the "Meeting") held on May 22, 2025 were duly approved by shareholder resolutions passed at the Meeting. Pursuant to the Meeting, Heye Daun, Alan Friedman, Alfredo Luis Riviere and Charles Loots were re-elected as directors; MNP LLP was appointed as auditors of the Company; and the Company's amended and restated omnibus securities based plan (the "Plan", as described in the Circular) was approved, including disinterest shareholders approval of the grant of 2,750,000 restricted share units under the Plan. About Koryx Copper Inc. Koryx Copper Inc. is a Canadian copper development Company focused on advancing the 100% owned Haib Copper Project in Namibia whilst also building a portfolio of copper exploration licenses in Zambia. Haib is a large, advanced (PEA-stage) copper/molybdenum porphyry deposit in southern Namibia with a long history of exploration and project development by multiple operators. More than 80,000m of drilling has been conducted at Haib since the 1970's with significant exploration programs led by companies including Falconbridge (1964), Rio Tinto (1975) and Teck (2014). Extensive metallurgical testing and various technical studies have also been completed at Haib to date. Additional studies are underway aiming to demonstrate Haib as a future long-life, low-cost, low-risk open pit, sulphide flotation copper project with the potential for additional copper production from heap leaching. Haib has a current mineral resource of 414Mt @ 0.35% Cu for 1,459Mt of contained copper in the Indicated category and 345Mt @ 0.33% Cu for 1136Mt of contained copper in the Inferred category (0.25% Cu cut-off). Mineralization at Haib is typical of a porphyry copper deposit and it is one of only a few examples of a Paleoproterozoic porphyry copper deposit in the world and one of only two in southern Africa (both in Namibia). Due to its age, the deposit has been subjected to multiple metamorphic and deformation events but still retains many of the classic mineralization and alteration features typical of these deposits. The mineralization is dominantly chalcopyrite with minor bornite and chalcocite present and only minor secondary copper minerals at surface due to the arid environment. Further details of the Haib Copper Project are available in the corresponding technical report titled, "NI 43-101 Technical Report – August 2024 Mineral Resource Estimate for the Haib Copper Project, Namibia" dated effective August 31, 2024 (the "Technical Report"). The Technical Report and other information is available on the Company's website at and under the Company's profile on SEDAR+ at ON BEHALF OF THE BOARD OF DIRECTORS"Heye Daun"President, CEO and Director Additional information is also available by contacting the Company: Julia Becker Corporate Communications jbecker@ 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. Cautionary Statement Regarding Forward-Looking Information This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, without limitation, statements regarding the use of proceeds from the Company's recently completed financings and the future or prospects of the Company. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect ", "is expected ", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking statements are necessarily based upon a number of assumptions that, while considered reasonable by management, are inherently subject to business, market, and economic risks, uncertainties, and contingencies that may cause actual results, performance, or achievements to be materially different from those expressed or implied by forward-looking statements. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, other factors may cause results not to be as anticipated, estimated, or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Other factors which could materially affect such forward-looking information are described in the risk factors in the Company's most recent annual management discussion and analysis. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws. Figures accompanying this announcement are available at:
Borneo Post
23-05-2025
- Business
- Borneo Post
Murum at 96.1 pct internet coverage, Jendela Phase 2 set to boost connectivity, says S'wak deputy minister
Liwan says MCMC in collaboration with SMA is currently conducting a study to identify coverage gaps and areas requiring improvements in telecommunication services. – Photo by Roystein Emmor KUCHING (May 23): Internet coverage in Murum has reached 96.1 per cent to date, said Sarawak Deputy Minister for Utility and Telecommunication Datuk Liwan Lagang. He said the federal government, through the Malaysian Communications and Multimedia Commission (MCMC) in collaboration with the Sarawak Multimedia Authority (SMA), is currently conducting a study to identify coverage gaps and areas requiring improvements in telecommunication services. 'This study will take into account the 'fit for purpose technology' approach, where the selection of technology is based on the suitability of local conditions and needs, such as the construction of telecommunication towers and satellite-based network solutions. 'As of now, the study is in the final stage of evaluation for implementation under the Jendela (National Digital Network) Phase 2 initiative, which is expected to begin in the fourth quarter of this year,' he said. He was responding to a question from Murum assemblyman Kennedy Chukpai Ugon during the State Legislative Assembly (DUN) sitting today. On coverage specifics, Liwan explained that 4G transmitter sites can typically cover a radius of up to 2km, depending on terrain, while 5G have an optimal coverage radius of up to 500 metres. He also revealed that, to date, a total of 1,591 subscriptions under the Sarawak Rural Broadband Network (MySRBN) have been recorded in the Murum constituency, based on data from the Sarawak Digital Economy Corporation (SDEC). DUN internet coverage Liwan Lagang Murum
