Koryx Copper Announces Further Drill Assay Results Extending Consistent Mineralization at Depth and Laterally at the Haib Copper Project, Southern Namibia
Executive Summary
- Koryx Copper reported assay results from seven drill holes (2,986 m) in Phase 2‑4 of its Haib Copper Project, extending mineralization into previously modelled waste zones.
- Significant copper intercepts were disclosed across multiple holes (e.g., HM75 – 927 m @ 0.24% Cu overall; HM72 – 14 m @ 0.91% Cu; HM77 – 98 m @ 0.37% Cu).
- The company announced an updated Preliminary Economic Assessment (PEA) to be released in September 2025, based on the October 2024 Mineral Resource Estimate, and outlined further drilling, metallurgical testing, and infrastructure studies targeting a low‑risk, conventional milling & flotation project.
Key Details
- Drilling Progress
- Completed 7 holes (2,986 m) out of a planned 178 holes for Phases 2‑4.
- Total drill metres completed to date: 15,349 m of the 28,000 m target for 2025.
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Six rigs currently on site; four additional man‑portable rigs arriving in September 2025 (total 10 rigs).
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Significant Intersections
- HM75: 927 m @ 0.24% Cu overall; notable intervals – 14 m @ 0.58% Cu (4‑18 m), 60 m @ 0.33% Cu (302‑362 m), 48 m @ 0.34% Cu (820‑868 m).
- HM77: 98 m @ 0.37% Cu (86‑184 m).
- HM88: 56 m @ 0.34% Cu (126‑182 m).
- HM72: 52 m @ 0.32% Cu (36‑88 m); 10 m @ 0.46% Cu (258‑268 m); 14 m @ 0.91% Cu (558‑572 m).
- HM89: 100 m @ 0.31% Cu (42‑142 m); 58 m @ 0.37% Cu (278‑336 m).
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HM85: 74 m @ 0.31% Cu (80‑154 m); 16 m @ 0.33% Cu (192‑208 m).
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Molybdenum & Gold
- Mo grades up to 0.56 % observed; Mo intervals highlighted in HM72 and HM75.
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Background Au ~0.025 g/t; localized higher values (~0.05 g/t) noted.
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PEA Update
- Updated PEA scheduled for September 2025, based on the October 23 2024 Mineral Resource Estimate (does not include recent drilling).
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New PEA will reflect a conventional crushing/milling/flotation flowsheet, reduced reliance on heap leaching, and improved metallurgical test results.
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Future Timeline
- Completion of current infill & expansion drill program expected H1 2026.
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Updated Mineral Resource Estimate slated for late H1 2026; PFS‑level technical study targeted early H2 2026.
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Metallurgical Testing
- Ongoing crushing, milling, and flotation tests confirm consistent Cu recovery; Mo concentrate production demonstrated.
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Bulk ore sorting & coarse particle flotation trials indicate potential 15‑20 % waste rejection before milling, reducing processing costs.
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Infrastructure Studies
- Engineering work progressing on plant location, waste rock dumps, tailings facilities, power (≈150 MW) and water (≈20 M m³/yr) supply.
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Discussions underway with NamWater and NamPower on grid capacity and water sourcing.
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Quality Control
- Core split for assay (ALS Johannesburg & ActLabs Canada) and metallurgical work; QA/QC frequency 1 in 20 for blanks, duplicates, standards.
Notable Quotes
“We continue to be highly encouraged by the results of our ongoing drill program… mineralization extending down dip and along strike into areas previously classified as waste.” – Heye Daun, President & CEO
All forward‑looking statements are subject to risks and uncertainties; actual results may differ.