Koryx Copper Inc. has reported higher-than-expected copper-equivalent (CuEq) grades from its Phase 2 drill program at the Haib Copper Project in Namibia, surpassing the current mineral resource estimate (MRE).
The latest results, covering 10 boreholes and 2,542 meters of drilling, include key intercepts such as 146 meters at 0.53% CuEq (HM52) and 191 meters at 0.47% CuEq (HM56).
“These drill results are highly encouraging and demonstrate the potential for the Haib mineral resource grade to be improved further with the drilling planned for this year,” said Koryx Copper President and CEO Heye Daun.
The company has completed 4,759 meters of drilling so far in its ongoing 8,200-meter Phase 2 program, aimed at refining geological models and identifying higher-grade copper zones. The company is also evaluating molybdenum and gold as potential byproduct credits.
“Our thesis was always that we would be able to improve the grade through targeting higher-grade domains, tighter geological modeling, and the inclusion of significant molybdenum and gold byproduct credits,” Daun added.
Looking ahead, Koryx has outlined an ambitious 2025 strategy, planning 55,000 meters of drilling across multiple phases to expand and upgrade the Haib resource. The company aims to complete an updated Preliminary Economic Assessment (PEA) and Pre-Feasibility Study (PFS) by the end of 2025, with permitting and technical studies finalized by 2026.
“We are putting a big effort into increasing our geological horsepower and infrastructure on the ground in Namibia to improve our understanding of Haib and expedite the 55,000-meter drill program planned for 2025,” Daun said.
Koryx Copper, a Canadian mining company, is focused on advancing the Haib Copper Project, one of the oldest known copper-molybdenum porphyry deposits in southern Namibia.
The site has undergone extensive exploration since the 1970s, with more than 80,000 meters of drilling conducted by various operators, including Falconbridge, Rio Tinto, and Teck.
