Koryx wraps up Haib drilling
Koryx Copper has completed a 7,074-metre infill and expansion drilling programme at its Haib copper project in southern Namibia, reporting results from 18 drill holes.
The company said the results broadly correlate with its existing geological model and include several wide copper-mineralised intervals, as well as higher-grade zones closer to surface.
Haib is a porphyry copper-molybdenum-gold deposit that Koryx plans to develop as a large-scale open-pit operation using conventional sulphide milling and flotation to produce copper and molybdenum concentrate.
Among the latest results, a drill hole in Target Area 3 returned 438 metres at 0.40% copper equivalent (CuEq), including 224 metres at 0.51% CuEq.
The 224-metre interval included 26 metres at 0.70% CuEq and 20 metres at 0.71% CuEq.
Another drill hole returned 681 metres at 0.34% CuEq, including 22 metres at 0.71% CuEq and 169 metres at 0.40% CuEq.
A further hole returned 429 metres at 0.30% CuEq, including 82 metres at 0.56% CuEq, while another intersected 411 metres at 0.30% CuEq, including 102 metres at 0.40% CuEq from six metres downhole.
In Target Area 3, a drill hole also intersected a 52-metre interval grading 0.39% copper, including 12 metres at 0.61% copper. Koryx said the interval lies outside the current geological model and indicates copper mineralisation closer to surface than currently modelled in that area.
Another hole in the same area returned 150 metres at 0.34% copper, including 14 metres at 0.57% and eight metres at 0.89% copper.
Results across the deposit
In Target Area 1, one hole returned a 22-metre interval grading 0.42% copper from 58 metres downhole. Another hole drilled through Target Areas 1 and 2 returned several broad copper zones, including 194 metres at 0.34% copper and 169 metres at 0.36% copper.
In Target Area 2, a hole returned 115 metres at 0.27% copper with 160 parts per million molybdenum. Another hole intersected 58 metres at 0.45% copper.
A separate hole drilled to delineate the southern limit of mineralisation returned generally low copper and molybdenum grades, with its strongest interval being four metres at 0.77% copper and 724 parts per million molybdenum.
In Target Area 4, results from the first 158 metres of a drill hole broadly correlated with the existing model. However, a high-grade interval predicted between 156 and 300 metres was not encountered. Koryx said the reason would be assessed.
Another hole drilled to define the southern limit of mineralisation in Target Area 1 returned relatively limited mineralisation, and the company expects the result to produce a marginal reduction in mineralised tonnage in that area.
Updated resource and PFS
Koryx said the drilling programme is now complete and its technical team is working on the geological modelling and estimation work required for an updated mineral resource estimate (MRE) and pre-feasibility study (PFS).
The company said both remain on track for publication before the end of 2026.
The copper-equivalent figures in the latest results incorporate copper, molybdenum and gold, using assumed recoveries of 89% for copper, 65% for molybdenum and 50% for gold.
Koryx used metal prices of US$4.54 a pound for copper, US$22.68 a pound for molybdenum and US$4,000 an ounce for gold in its CuEq calculations.
The company said true widths of the reported intervals are currently unknown, with the reported widths representing downhole interval lengths.
