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GLDN 0.055 +0.0% BRON 0.040 +0.0% BTO 5.43 −0.7% ESK 0.365 −2.7% AUMN 0.275 +0.0% GGX 0.040 +0.0% S 0.155 +29.2% NNX 0.035 +0.0% ABX 51.90 −0.6% TTS 2.40 −4.0% FCI 0.400 −9.1% GR 0.075 +0.0% AII 23.38 +12.4% TUNG 1.72 +1.8% LGO 1.01 −2.9% EMM 0.080 +0.0% GLDN 0.055 +0.0% BRON 0.040 +0.0% BTO 5.43 −0.7% ESK 0.365 −2.7% AUMN 0.275 +0.0% GGX 0.040 +0.0% S 0.155 +29.2% NNX 0.035 +0.0% ABX 51.90 −0.6% TTS 2.40 −4.0% FCI 0.400 −9.1% GR 0.075 +0.0% AII 23.38 +12.4% TUNG 1.72 +1.8% LGO 1.01 −2.9% EMM 0.080 +0.0%
Drill Results Routine +

Koryx Copper Announces Further Significant Drill Results for the Haib Copper Project, Southern Namibia

Koryx Copper Drill Results Validate Resource Upgrade as PFS Timeline Tightens

By The Northwire Desk — AI Analysis May 15, 2026 · 07:00 KRY · 3.41 Koryx Copper S.A.
Executive Summary
  • Koryx Copper announced assay results from 17 drill holes (totaling 5,252m) at the Haib Copper Project in Namibia on May 15, 2026.
  • Intercepts show consistent, wide copper mineralization with CuEq grades exceeding the average Mineral Resource Estimate (MRE) grade established in March 2026.
  • Significant molybdenum and gold byproduct credits were identified, reinforcing the economic potential of the deposit.
  • The company is operating 14 drill rigs on-site for infill, growth, geotech, and exploration drilling.
  • Management reaffirmed plans to publish an updated Preliminary Economic Assessment (PEA) before mid-2026 and a Pre-feasibility Study (PFS) before the end of 2026.
  • This news follows the May 8 filing of an updated NI 43-101 Technical Report which included the March MRE update showing a ~35% increase in contained copper.
Material Impact
  • The drill results serve as validation of the significant resource upgrade announced on March 25, 2026, rather than introducing new fundamental surprises.
  • Given the stock price has already rallied from approximately $1.00 to over $3.40 following the MRE update and financing rounds in early 2026, this news is largely priced in as expected progress toward the PFS.
  • The confirmation of high-grade intercepts supports the stripping ratio improvements (0.92x) reported in March, reducing execution risk for the upcoming PFS.
  • However, the departure of COO Trevor Faber announced on May 8 adds a minor operational uncertainty that slightly tempers the enthusiasm compared to pure resource news.
  • The news is positive but incremental relative to the major valuation drivers already established (MRE upgrade and financing), classifying it as Routine - Positive rather than Material - Game Changer.
KRY · Price
Company Overview
  • Company: Koryx Copper S.A., listed on TSX Venture (KRY.V).
  • Flagship Project: Haib Copper Project, Southern Namibia.
  • Project Type: 100% owned open-pit copper-molybdenum-gold porphyry deposit.
  • Status: Advanced development stage; PEA filed September 2025, updated MRE March 2026, PFS targeted Q4 2026.
  • Resource Estimate (March 2026): 744Mt Indicated @ 0.28% Cu and 579Mt Inferred @ 0.24% Cu; includes significant Mo and Au credits.
  • Production Guidance: Envisaged average annual production of 92,000tpa clean concentrate over a >35-year mine life (updated from 24 years).
  • Strategic Assets: Also holds exploration licences in Zambia (Luanshya West, Mpongwe) with maiden drilling planned for early 2026.
Read the original news release →

More from Koryx Copper S.A.

Jun 29, 2026 · 07:00

Koryx reports wide, above-average grades from its 15-rig Haib fleet, with the prefeasibility study remaining the primary focus.

Drill Results Jun 23, 2026 · 07:00

Koryx Copper advances Zambian geochemistry and licence transfer ahead of a late-2026 drilling campaign.

Drill Results Jun 03, 2026 · 07:30

Koryx Copper optimizes the Haib flowsheet ahead of the Q4 preliminary feasibility study while shares consolidate near the $3.20 support level.

Production / Operations May 08, 2026 · 16:26

Koryx Copper Files Updated Resource Report, Sets PFS Timeline Amidst Management Shuffle

Resource Estimate Mar 25, 2026 · 07:00

Koryx delivers massive resource upgrade at Haib as stripping ratio plummets, setting the stage for a Tier-1 copper development in Namibia.

Resource Estimate Feb 23, 2026 · 07:00

Koryx fast-tracks Haib Copper toward PFS as aggressive drilling yields high-grade intercepts and massive treasury secures development runway.

Resource Estimate