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Koryx Copper Announces Further Significant Drill Results for the Haib Copper Project, Southern Namibia
Koryx Copper Announces Further Significant Drill Results for the Haib Copper Project, Southern
About this update from Koryx Copper S.a.
LUXEMBOURG - Koryx Copper S.A. (TSX: KRY.V) (NSX: KYX) (OTCQB: KRYXF) ('Koryx' or the 'Company') is pleased to announce assay results from 17 drill holes (5,252m) received as part of the infill and expansion drilling for its 2026 exploration and project development program on the wholly-owned Haib Copper Project ('Haib' or the 'Project') in southern Namibia.Heye Daun, Koryx Copper's President and CEO commented: 'Now operating with 14 drill rigs on site, our geological team has delivered another excellent set of drill results. These 17 drill holes demonstrate once again the highly consistent nature of the copper mineralization with significant molybdenum and gold byproduct credits and the potential to incrementally increase the average mineral resource grade. We recently published an updated mineral resource estimate ('MRE') which demonstrated higher grades, lower stripping and a large increase in overall contained copper. This updated MRE plus an enhanced process flow sheet will be incorporated and published in the form of an updated Preliminary Economic Assessment before the middle of 2026, followed by the planned Pre-feasibility Study (PFS) before the end of this year.' Haib is a large-scale, advanced open-pit sulphide Cu-Mo-Au porphyry with a small oxide cap. The project is technically and economically feasible utilising mainly a low-risk open pit crushing/milling/flotation process. The project has attractive economics and a simple, scalable, long-life and low-cost development strategy undergoing rapid advancement, with an envisaged average annual Cu production rate of 92,000tpa in clean concentrate over a 24-year mine. Summary of Results from Target Area 1 HM122 was drilled just north of the Volstruis River as an infill hole. Copper (Cu) and molybdenum (Mo) results are in line with expectations, with Mo effectively absent. HM123 was drilled in the southeastern portion of Target 1 and positioned to intersect mineralisation both above and below the quartz vein separating Target 1 and Target 2. The results are significant. Firstly, the upper high-grade zone confirms a southward extension of Cu mineralisation approximately 130m beyond the current model. This zone is associated with Mo, with grades exceeding 100 ppm. Secondly, the deeper high-grade zone that was intersected has not been identified in previous drilling and lies more than 200m outside the cu...