Koryx Copper Inc. has announced a 13% increase in the indicated mineral resource grade at its Haib Copper Project.
The update, based on the 2024 drilling results and prepared by independent consultant MSA Group, highlights significant improvements in copper content, underscoring the project’s enhanced potential.
The revised estimate marks a key milestone for Koryx as it continues to advance the development of this promising copper deposit.
“We are delighted with the results of the recently completed drill program, which have now been modelled and have resulted in an overall grade increase of 13-14% of the entire Haib deposit. This is a very significant improvement and has been achieved by focusing the drilling on structurally controlled, higher grade portions of especially the Target 1 area of the Haib deposit,” said Koryx Copper Executive Chairman Heye Daun.
He further explained that the updated resource estimate includes an indicated mineral resource of 414 million tonnes (Mt) at 0.35% copper (Cu), totalling 3,216 million pounds (Mlbs) Cu at a 0.25% cut-off, and an inferred mineral resource of 345 Mt at 0.33% Cu, amounting to 2,503 Mlbs Cu at the same cut-off.
The update demonstrates a 13% increase in grade for the indicated resource and a 14% increase for the inferred resource compared to the 2021 Preliminary Economic Assessment (PEA).
The improvements were achieved through targeted drilling in high-grade areas, particularly in the Target 1 zone of the Haib deposit.
“This success is even more remarkable, given the relatively limited amount of new drilling which was completed as part of this program. It is testament to the quality of the technical work which the team carried out and which continues to identify further areas of potential grade improvement and mineral resource growth of the Haib deposit,” he said.
The updated resource estimate meets the Canadian Institute of Mining, Metallurgy and Petroleum (CIM) Best Practice Guidelines and National Instrument 43-101 standards.
The estimate is reported at a 0.25% Cu cut-off grade and provides a basis for the continued advancement of the Haib Copper Project.
Koryx Copper plans to commence an 8,200-metre diamond core drilling program shortly, focusing on higher-grade zones and potential resource extensions.
Additionally, a significant drill program is scheduled for late 2024 or early 2025 to explore untested areas with potential for further resource expansion.
Koryx Copper Inc. is a Canadian company focused on developing its 100% owned Haib Copper Project in Namibia and expanding its copper exploration portfolio in Zambia.
The Haib project features a large, advanced porphyry copper/molybdenum deposit with a rich history of exploration.
Located in southern Namibia, Haib is one of the few Paleoproterozoic porphyry copper deposits globally and one of only two in southern Africa.
Despite its age and geological changes, Haib retains key characteristics of porphyry deposits, with dominant chalcopyrite mineralization and minor amounts of bornite and chalcocite.
