Koryx Copper Inc. has announced an intensive drill and study program at the Haib Copper Project, aiming to significantly enhance the Mineral Resource Estimate (MRE).
The program includes over 55,000 meters of drilling focused on growth and quality improvement, the company said.
“We are planning to execute the largest drill program at Haib since its discovery,” Koryx Copper’s President and CEO, Heye Daun.
The initiative aims to not only increase the size and grade of the mineral resource but also to prove the economic viability of a larger conventional flotation concentrate process alongside heap leaching for lower-grade materials.
The company anticipates that this exploration will lead to an updated Preliminary Economic Assessment (PEA) and a Pre-Feasibility Study (PFS) for Haib, both expected to be completed by the end of 2025.
“The updated PEA will replace the outdated 2021 assessment, providing a current scope for the new Haib project, which will be crucial for the mine permitting process,” Daun said.
A follow-up Definitive Feasibility Study (DFS) is scheduled for completion before the end of 2026.
The multi-phased drilling initiative will target higher-grade zones within the Haib deposit, leveraging insights from previous fieldwork. This will include not only the expansion of known resources but also infill drilling to boost the confidence in existing estimates.
This work program will bring together all the quality work historically done with our updated, detailed efforts, delivering an integrated approach for Haib, with much larger planned copper production than previously contemplated,” he said.
Further exploration will also look into potential by-products like molybdenum and gold, which could add considerable value to the project.
“The primary objective is to enhance the size and grade of the Haib MRE, laying a robust foundation for future development,” Daun said.
Located at a low altitude of 500 meters above sea level and close to world-class infrastructure, the Haib project benefits from Namibia’s mining-friendly jurisdiction.
“Haib has the potential to become a high-quality, low-risk global copper development project,” Daun said.
