Koryx Copper Provides Further Drill Results for the Haib Copper Project in Southern Namibia
Koryx reports 831m at 0.27% CuEq extending the Haib deposit, a result the market has already priced into the project’s pre-feasibility study.
Koryx Copper S.A. (KRY) has released assay results from 17 drill holes, comprising 6,430 meters of infill drilling at the Haib porphyry Cu-Mo-Au deposit in Namibia. The company highlighted seven of the longest, low-grade copper-equivalent intervals located near the surface.
The top intercepts include: * HM155: 831m @ 0.27% CuEq, including 244m @ 0.42% CuEq * HM147: 654m @ 0.25% CuEq, including 84m @ 0.47% and 46m @ 0.47% * HMRC008: 231m @ 0.44% CuEq, including 12m @ 2.55% CuEq * HM152: 578m @ 0.25% CuEq * HM139: 466m @ 0.26% CuEq, including 76m @ 0.52% * HM146: 497m @ 0.22% CuEq * HM134: 605m @ 0.21% CuEq
A single two-meter sample within hole HMRC008 returned 8.01% Cu and 60.5 g/t Ag, marking the highest copper and silver grades recorded at Haib to date. This high-grade interval is situated within a broader 12-meter section grading 2.39% Cu. The full table reports data for all 17 holes, not just the seven best intercepts.
Koryx Copper S.A. (KRY) is an advanced development-stage explorer rather than a producer, with its valuation driven by the Haib resource, Preliminary Economic Assessment (PEA) economics, and the upcoming Preliminary Feasibility Study (PFS). The company’s stock has seen significant appreciation, rising from approximately C$1.00 in August 2025 to C$3.35 in August 2026. This movement reflects the release of the 2025 PEA, the March 2026 Mineral Resource Estimate (MRE) upgrade, and market expectations surrounding the late-2026 PFS.
Recent drilling results include the prior anchor HM153, which returned 714m @ 0.31% CuEq, equating to about 221 %m. The new best result, HM155, returned 831m @ 0.27% CuEq, or about 224 %m. While this represents similar total metal content to the previous result, it features a lower grade; HMRC008 offered better grade but was shorter. Additionally, a record narrow Cu-Ag sample was identified locally, though it does not establish a broad high-grade volume.
This infill drilling is expected to modestly improve the MRE and technical confidence but does not materially change the deposit thesis or the equity.
- HM153: 714m @ 0.31% CuEq, about 221 %m
- HM155: 831m @ 0.27% CuEq, about 224 %m
Koryx Copper S.A. is a Luxembourg-domiciled company focused on its 100%-owned Haib Copper Project in southern Namibia. The Haib deposit is a large, low-grade porphyry Cu-Mo-Au asset with a long history of exploration and development work by Falconbridge, Rio Tinto, Teck, and now Koryx.
The company’s latest mineral resource estimate, dated March 2026, reports an Indicated resource of 744Mt at 0.32% CuEq for approximately 2,090kt of copper, and an Inferred resource of 579Mt at 0.28% CuEq for about 1,385kt of copper. Context from the September 2025 Preliminary Economic Assessment (PEA) indicated a post-tax NPV8% of US$1.351B and a post-tax IRR of 20.1%, based on production of 92ktpa of payable copper over 10 years and initial capital expenditure of US$1.557B.
In addition to its Namibian operations, Koryx holds early-stage exploration licences in Zambia at Luanshya West and Mpongwe. As of 31 May 2026, the company reported cash of C$57.2M, a working capital surplus of C$44.4M, and a nine-month net loss of C$40.6M.