Koryx Copper plans to complete a C$20 million technical program at the Haib Copper Project during 2025.
The company wants to transform the Haib into a top-tier, high-quality, low-risk copper development project.
Additionally, Koryx Copper says it will have a multi-phase >55,000-metre drill program this year.
The other plan is to ramp up the drill rigs to six from the current three and double shift to maximise the drilling rates.
The Phase 2 metallurgical test work is underway, and the results should be out in the first quarter of 2025.
Koryx Copper has appointed DRA Global Limited as a study consultant to produce an updated preliminary economic assessment before the third quarter of this year.
Koryx Copper says the study to complete the prefeasibility study is on track and should be completed end of 2025, followed by the definitive feasibility study in 2026.
Also underway are the mining and environmental baseline studies for permitting to commence in the third quarter.
Large investors and sell-side analysts are expected to visit the Haib Copper Project between February 1 and 2 this year.
The company says this fast-tracked technical strategy of drilling, study, infrastructure and permitting activities represents a significant step-change in the development of the Haib and is geared towards the rapid development to the bankability stage, with major permitting and all technical studies to be concluded by the end of 2026.
Koryx Copper CEO Heye Daun says they have hit the ground running with new leadership and a top-tier technical team in place.
Daun says as part of the 2025 work program, they will execute the largest drill program at Haib since its discovery, aiming to improve the grade and size of the mineral resource.
He added that they aim to prove the economic feasibility of a much larger conventional flotation concentrate process and subsequent heap leaching for the lower-grade material.
“This work program will for the first time bring together all of the quality work that was completed historically and combine it with the updated and much more detailed work which Koryx is carrying out this year, thereby delivering an integrated Haib project approach with much larger planned copper production than was contemplated historically.
“Under this scope Haib will produce both clean copper concentrate and refined copper cathodes. Right-sizing and optimising the Haib Project is what our 2025 work program will achieve,” Daun says.
According to Daun, the Haib project has the potential to become a high-quality, low-risk global copper development project owing to its low altitude, proximity to world-class infrastructure, and the favourable permitting and mining-friendly jurisdiction of Namibia.
“Given our track record of execution and value creation in mining in Namibia and our blue-chip shareholder base, we believe we are perfectly placed to achieve this during 2025 and beyond.”
