Koryx Copper drills 214 m of 0.34% Cu at Haib
Koryx Copper Inches Haib Forward With Steady Drill Results Amidst Project De-Risking
On December 12, 2025, Koryx Copper announced further positive drill results from its flagship Haib Copper Project in Namibia. The results are from the ongoing Phase 2 and 3 drill programs.
Key highlights include: - Hole HM104 intersected a wide zone of 214 meters grading 0.34% copper (Cu). - Hole HM102 intersected a localized higher-grade zone of 19 meters grading 0.64% Cu. - Other notable intercepts include 74m of 0.36% Cu, 62m of 0.31% Cu, and 112m of 0.31% Cu.
The company also provided an operational update, confirming that two additional drill rigs have arrived on site, bringing the total to 12 active rigs. Koryx is advancing the Pre-Feasibility Study (PFS), which has now been initiated. An updated Mineral Resource Estimate (MRE) is expected to be published before the end of January 2026, which will, for the first time, include gold and molybdenum as by-product credits.
The latest drill results are positive and consistent with the geological model of a large, low-grade copper porphyry system. The wide intercept of 214m at 0.34% Cu in HM104 reinforces the deposit's scale and continuity, while the higher-grade 19m at 0.64% Cu in HM102 confirms the presence of localized zones that could enhance project economics, as has been the company's thesis.
Reviewing the historical news provides essential context: - Execution on Strategy: The company laid out an aggressive C$20 million, 55,000-meter drill and study program in January 2025. Today's news, including the ramp-up to 12 rigs and initiation of the PFS, demonstrates steady progress against this ambitious plan. - Consistent Results: Throughout 2025, Koryx has released a steady stream of drill results (Feb, May, July, Aug, Oct, Dec) that have consistently shown wide, low-grade intercepts (0.25-0.40% Cu) with pockets of higher grade. While today's results are solid, they are not as spectacular as the near-surface 36m of 1.42% Cu reported on September 3, 2025, which was a more material event. - PEA Context: The results support the economics outlined in the September 4, 2025, Preliminary Economic Assessment (PEA), which showcased a robust after-tax NPV8 of $1.35 billion and a 20.1% IRR. However, that PEA also highlighted a very high initial CAPEX of $1.56 billion, which remains the project's single largest hurdle. - Catalyst Timeline: The news advances a key catalyst timeline. The previous target for an updated MRE was H2 2026; this has now been pulled forward to January 2026. This is a significant positive, as this MRE will incorporate the full 2025 drill program and, crucially, the gold and molybdenum by-product credits, which were not in previous resource estimates and should provide a notable uplift to the project's economics.
The market has already rewarded Koryx for its progress, with the stock price doubling from ~$1.00 around the PEA release to the current $2.00 level. This news confirms the company is executing its plan effectively, but the results themselves are in line with what is now expected from the Haib project. It solidifies the existing thesis rather than materially changing it. Therefore, the impact is rated as Routine - Positive.
Koryx Copper Inc. is a mineral exploration and development company focused on advancing its 100%-owned flagship Haib Copper Project in southern Namibia. Haib is an advanced-stage, large-scale copper-molybdenum porphyry deposit. The company is in the process of rapidly de-risking the project through a large-scale drill program (55,000m planned) and economic studies. A PEA was completed in September 2025, and a PFS has been initiated. Koryx also holds early-stage copper exploration projects in Zambia.
The Haib property is subject to a 1.5% Net Smelter Royalty (NSR) retained by Teck, one-third of which (0.5%) can be purchased by Koryx for $2 million.