Deep-South Resources Inc.
Company Data
| Introduction
| Projects in Hand
| Management
News Update
| Chinese
| Address ： |
Suite 888, 700 West Georgia, Vancouver, British Columbia Canada V7Y 1G5 |
| Tel No.： | 819-340-0140 |
| Web Site： | www.deepsouthresources.com |
| E-mail： | info@deepsouthresources.com |
| Contact Person： | Pierre Léveillé |
| Position： | President & CEO |
| Traded Market： | TSX-V | OTCQB | FSE |
| Traded Symbol： | DSM | DSMTF | DSD |
| Outstanding Shares： | 169.4 Million |
| 52 Week High： | $ 0.12 |
| 52 Week Low： | $ 0.03 |
| Present Price： | Click Here |
Deep-South Resources is a mineral exploration and development company. Deep-South's 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 licences in the Copperbelt in Zambia. In using and assessing environmentally friendly technologies in the development of its copper projects, Deep-South embraces the green revolution.
Haib Copper Project, Namibia
The Haib Copper License EPL 3140 has been officially renewed by the Ministry of Mines and Energy of Namibia on Friday July 7, 2023 is valid for a period two years from the date it was renewed. (See news release dated July 10, 2023)
The Haib Copper Deposit is a large copper/molybdenum deposit situated 40 kilometres from the southern boundary of Namibia. The license covers 370 square kilometres (37,000 hectares). Over the years the project has seen 70,000 metres of drilling, several metallurgical test work programmes, geophysical surveys, geological mapping, mine modeling and even a feasibility study in 1996. Deep-South holds all the historical data.
On July 26, 2023, Deep-South announced the third batch of assay results from its drilling program interrupted in June 2021 at the Haib Copper project.
Results Highlights:
- HM27 : 0.48% CuEq over 14 metres from surface
- HM28 : 0.61% CuEq over 64 metres, including 16 metres at 0.79% CuEq and 14 metres at 0.71% CuEq
- HM29 : 0.56% CuEq over 18 metres
- HM30 : 0.37% CuEq over 50 metres, including 4 metres at 1.09% CuEq
- HM31 : 0.40% CuEq over 10 metres
- HM31R : 0.53% CuEq over 12 metres, and 0.45% CuEq over 22 metres
The 6 holes for which assay results are reported here cover some 1,193.59 metres and cover all 4 of the target areas.
On August 3, 2023, Deep-South announced the fourth batch of assay results from its drilling program interrupted in June 2021 at the Haib Copper project.
Result Highlights:
- HM11 : 0.62% CuEq over 10 metres, including 4 metres at 0.97% CuEq
- HM11 : 0.46% CuEq over 26.36 metres including 4m at 0.76% CuEq
- HM12: 0.76% CuEq over 20 metres including 4m at 2.57% CuEq
- HM14 : 0.35% CuEq over 30 metres from surface and 0.48% CuEq over 26 metres
- HM22 : 0.63% CuEq over 50 metres including 0.80% CuEq over 16.00 metres
- HM26 : 0.37% CuEq over 16 metres from 26 metres below surface
Pierre Léveillé, President & CEO of Deep-South stated that: “We are extremely enthusiastic by the results from the drill program. Previous drilling programmes point to the presence of higher copper grade zones, probably associated with near vertical structures (shears and faults) within the broader mineralised areas of the project. The use of vertical drilling in the past potentially missed those structures resulting in an underestimation of the overall grade. Our drilling program is focussing to redress this through the use of inclined holes to identify and delineate these structures and test the association with higher Cu grade zones. These results seem to support this updated interpretation, showing substantial intersections at Cu grades considered high for Haib. Additionally the presence of molybdenum has been confirmed with high Mo grades obtained in association with structures and alterations.”
Projects in Zambia
Luanshya West Project (exploration licence 23246-HQ-LEL)
The Luanshya West project is situated in the heart of the Zambian Copperbelt some 29km west of the Luanshya Copper Cobalt mine. The licence area covers 5,423.26 hectares (54.24 sq. km).
The project prospectivity is based on the location of the property over the unconformable contact between the basement granites and the Lower Roan Group sediments where most copper belt mines in both Zambia and the Democratic Republic of Congo (the “DRC”) are located.
On June 29, 2023, Deep-South announced the complete assay results from the soil sampling program on the Luanshya West project.
Highlights:
- 10 copper soil anomalies were defined with peak a value of 634ppm copper and 13 cobalt soil anomalies have been defined with a peak value of 558ppm cobalt in leached soil regimes.
- The five highest soil samples assay results for copper were determined to be: 634ppm, 602ppm, 568ppm, 506ppm and 446ppm.
- The five highest soil samples assay results for cobalt were determined to be: 558ppm, 282ppm, 179ppm and 174ppm, 159ppm.
- The sampling results are currently being analyzed in detail to plan further exploration work on the project.
Pierre Léveillé, President & CEO of Deep-South states: “These results are exciting as they enabled the delineation of several large copper and cobalt anomalies. These results compare favorably to current and past mines on the Copperbelt which have held thresholds in the range of 50ppm to 150ppm, averaging 80ppm copper and peak values in the range of 100ppm to 450ppm copper. We are currently planning further work on the project.”
Chililabombwe Project (exploration licence 23247)
The Chililabombwe project is situated in the north of the Zambia Copperbelt near the DRC border. The Large Exploration Licence covers 2,200 hectares (22.5 sq. km). The project prospectivity is based on the location of the property over the unconformable contact zone between the basement granites and the Lower Roan Group sediments where most copper belt mines in both Zambia and the DRC are located.
Mpongwe Project (exploration licence 23248)
The Mpongwe project is situated in the center of the Zambian Copperbelt. The Large Exploration Licence covers 67,500 hectares (675 sq. km). The project is considered prospective as it is again located over the unconformable contact zone between the basement granites and the Lower Roan Group sediments where most copper belt mines in both Zambia and the DRC are located.
Management and Directors
Pierre Léveillé, President & CEO, Director
Mr. Léveillé has over 28 years of experience in the International financial sector and 20 years of experience in the mining exploration industry. From the mid 1990’s to today, he has been Executive and Director of several exploration companies active in Africa. He has financed and managed exploration projects in Namibia since 1996 including the acquisition and operation of a diamond mine. He has realized over US$ 100 million in transactions and financing for Namibian, Ghanian, Chilean and Canadian mining exploration projects.
Jean-Luc Roy, COO, Director
Mr. Roy has been a major contributor to the development of several important corporations in Africa during the last 30 years working for majors, mid-tiers and junior exploration companies. Mr. Roy’s experience includes being Managing Director in the Democratic Republic of Congo for First Quantum Minerals Ltd.; President & CEO of El Nino Venture Inc.; Chief Operating Officer of Ampella Mining Ltd. (division of Centamin PLC) and General Manager of Resolute Mining Ltd.
Ally Angula, Director
Ms. Angula is a Namibian citizen and is a Chartered Accountant. She has been Deputy Executive Director of the Ministry of Finance in Namibia. She currently serves on the Boards of Oryx Properties Limited (Vice Chairperson) and Nabo Holdings.
Pierre Matte, Director
Mr. Matte has over 20 years experience in the mining industry. The majority of Mr. Matte's experience has been in Africa. He has been General Manager and Country Manager for Nevsun Resources and Avion Gold on the Tabakoto mine in Mali.
Alfredo Luis Riviere Rodriguez, Director
Mr. Riviere has over 28 years of experience in commodities trading, Investment banking, Hedge funds analyst and metals products manufacturing. He is currently CEO and Director of Euro-Alloys and Ferrotrade Consulting.
Tim Fernback, Director
Mr. Fernback has over 20 years of experience in the venture capital and investment banking industries. He is currently the Regional Director for the CFO Centre Limited, responsible for all operations in Western Canada.
On November 10, 2023, Deep-South Resources Inc. announced that the successful completion of its name and symbol change. The Company’s new trading symbol will be KRY and its CUSIP number will be 50067J103 and its new ISIN number is CA50067J1030.
There is no change in the share capital of the Company and no action is required to be taken by the Company’s shareholders with respect to this corporate name change.
Pierre Leveille, President & CEO of Deep-South stated, "The name Deep-South is representing the far south region of Namibia but also represent the area called Deep South in the USA, which is a symbol of segregation. Our company values are opposite to this symbolic. We have decided to change the name to offer a better representativity of our core values.
The name Koryx is an amalgamation of the word “Karas”, which represents the province in which we operate in Namibia and the name “Oryx”, which is an antelope of Namibia. The Oryx is the animal national emblem of Namibia and is represented on the national armories. The Oryx is a symbol for courage, elegance, pride and strength. This is a better representation of our core values, which also include working with and for our people of the Karas region in the south of Namibia and to develop a project for which Karas and Namibian people will be proud for many years to come.”
On October 31, 2023, Deep-South Resources Inc. has mobilized its field crew to start the drilling program on the Haib copper project in the south of Namibia. The company expects that the first drill will be delivered on site on or about Nov. 10, 2023, and the second drill will arrive on or about Nov. 15, 2023, as part of this proposed drilling program.
Pierre Leveille, president and chief executive officer of Deep-South, states: "We are extremely encouraged by the current situation. We are confident to deliver drill results that will enhance an already robust project and unlock further value for our shareholders. With the backdrop of a strong copper price, we are highly optimistic for the coming months. We are well on our way towards the development of the Haib copper project."
On October 18, 2023, Deep-South Resources Inc. has appointed Knight Piesold Consulting to conduct an environmental and social impact assessment on the Haib copper project in the south of Namibia.
The ESIA will accompany a feasibility study on the project for the eventual filing for a mining licence. The ESIA comprises environmental, social and hydrogeological feasibility studies and a public participation program required for assessing the overall feasibility of the proposed project and obtaining the necessary authorizations. The required authorizations include an environmental clearance certificate (ECC) from the Ministry of Environment, Forestry and Tourism (MEFT), a mining licence from the Ministry of Mines and Energy (MME), and a water abstraction permit from the Ministry of Agriculture, Water and Land Reform (MAWLR).
On October 12, 2023, Deep-South Resources Inc. has entered into an agreement with Ferrodrill Namibia Pty. Ltd. in order to proceed with the drilling program on the Haib copper project in the south of Namibia. Ferrodrill is a Namibian drilling contractor providing full drilling services since 2007 and has provided services to a large number companies from exploration to major mining companies. The contract provides for 5,000 meters of diamond drilling. Drilling planning and preparation is on track and we will inform our shareholders of the schedule and complete program in due course.
The specific focus of the drilling campaign is to drill the high-grade area of the deposit uncovered by Deep-South in 2019. The program was planned to drill up to 10,000 meters in the area. The first 5,000 meters were drilled in 2021. However, the program had been suspended when the Ministry of Mines and Energy of Namibia (the Ministry) has refused to renew the Exploration and Prospecting Licence (EPL). This legal situation has been resolved and the licence was renewed on July 7, 2023. Deep-South goal is to complete the remaining 5,000 meters and then proceed with a new resource estimation.
On September 26, 2023, The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement announced on Aug. 24, 2023.
Number of shares: 31,826,596 shares
Purchase price: 6.5 cents per share
Warrants: 15,913,298 share purchase warrants to purchase 15,913,298 shares
Warrant exercise price: 10 cents for a two-year period
Number of placees: 27 placees
Total pro group involvement: 3,517,796 (four pro groups)
Finder's fee: $123,206.79 cash and 1,895,310 warrants
Finder's warrant terms: Each warrant entitles the holder to purchase one common share at the price of 6.5 cents for period of two years from the date of issuance.
On September 26, 2023, Deep-South Resources Inc. has closed the second tranche of its oversubscribed non-brokered private placement for an amount totalling $1,803,282. The first tranche closed Sept. 6, 2023, for an amount of $265,447. The two tranches together total $2,068,729. The proceeds of the private placement will be used for further exploration on the projects in Namibia and Zambia and for general working capital.
On September 06, 2023, Deep-South Resources Inc. has closed the first tranche of the recently announced non-brokered private placement. The first tranche closed for an amount of $265,447. The private placement is nearly fully subscribed and the second tranche will close on or about Sept. 20, 2023.
The first tranche will comprise 4,083,800 units at a price of 6.5 cents per unit. Each unit will consist of one common share and one-half of one common share purchase warrant.
The proceeds of the private placement will be used for further exploration on the projects in Namibia and Zambia and for general working capital.
On August 15, 2023, Deep-South Resources Inc. has appointed Earthmaps Consulting of Namibia for the interpretation of airborne magnetic data on the Luanshya West project in Zambia.
Pierre Leveille, president and chief executive officer of Deep-South, stated: "We are pleased to have appointed Earthmaps. Klaus Knupp vast experience will help generating copper exploration targets on our Luanshya West project in Zambia. This mandate will complement well the successful soil sampling results generated recently and will support targets generation."
Earthmaps has the mandate to generate magnetic and radiometric images suitable for interpretation. It will include structural interpretation, lithological interpretation and generation of Cu mineralization targets.
On August 10, 2023, Deep-South Resources Inc. has appointed the MSA Group of South Africa to produce an updated National Instrument 43-101 mineral resource estimate for the company's 100-per-cent-owned advanced Haib copper project located in the south of Namibia. The mandate of MSA was interrupted when the Ministry of Mines refused to approve the renewal of the Haib Copper license. The Mineral Resource Estimate and subsequent technical report will follow the completion of the drilling program that was stopped in June 2021. There are still 5,200 meters of drilling to be completed.
Pierre Leveille, President & CEO of Deep-South stated that: "We are pleased to have re-engaged MSA; their vast experience will help to enhance an already robust project and unlock further value while reducing risk for our shareholders. With the backdrop of a strong copper price, we are highly optimistic for the coming years that Haib will garner additional interest from investors and other interested parties."
August 4, 2023, The Power Play by The Market Herald has announced the release of a new interview with Deep-South Resources, Discussing Their Latest News.
August 3, 2023, Deep-South intersects 50 metres of 0.63% CuEq, including 16 metres of 0.80% CuEq and 4 metres of 2.57% CuEq from the 2021 drilling program undisclosed results
July 26, 2023, Deep-South intersected 64 metres of 0.61% CuEq, including 16 metres of 0.79% CuEq from 26 metres deep from the 2021 drilling program undisclosed results
July 10, 2023, Haib Copper: Licence Renewed
https://www.deepsouthresources.com/investors/news-releases/haib-copper-licence-renewed/
June 29, 2023, Deep-South identify 10 copper anomalies and 13 cobalt anomalies on the Luanshya West project in Zambia