Koryx Copper Inc. has reported another set of strong assay results from its ongoing drilling campaign at the Haib Copper Project in southern Namibia, reinforcing confidence in one of the world’s oldest and largest undeveloped porphyry copper systems.
The company announced results from 17 additional diamond drill holes totalling 5,556 metres, part of its Phase 2 and 3 exploration and development drilling designed to refine the mineral resource estimate (MRE) and advance Haib toward a potential development decision. The results confirm broad, consistent copper and molybdenum mineralisation across all four of Haib’s key target areas, with several intercepts exceeding the average resource grade.
Among the standout results were hole HM96, which returned 40 metres at 0.37% Cu from 4 to 44 metres and 116 metres at 0.36% Cu from 228 to 344 metres; HM76, which intersected 50 metres at 0.33% Cu from 102 to 152 metres; HM79, which returned 96 metres at 0.31% Cu from 74 to 170 metres; HM81, with 12 metres at 0.49% Cu from 182 to 194 metres; HM83, which intersected 34 metres at 0.35% Cu from 10 to 44 metres; HM86, with 30 metres at 0.33% Cu from 68 to 98 metres and 92 metres at 0.32% Cu from 252 to 344 metres; and HM91, with 52 metres at 0.36% Cu from 18 to 70 metres and 46 metres at 0.34% Cu from 126 to 172 metres.
The latest results, according to President and CEO Heye Daun, represent a good spread of locations across the entire mineralised system and continue to confirm the geological model for Haib. “Encouragingly, the holes continue to yield consistently positive results and support the mineral resource at Haib,” Daun said.
Koryx’s geological team has now completed a full relogging of the available core, refining the deposit’s lithological and structural interpretation. This updated model incorporates copper, molybdenum, and gold distribution data and is expected to underpin an updated Mineral Resource Estimate (MRE) to be released before the end of 2025.
The ongoing drilling continues to delineate copper zones ranging between 0.3% and 0.6% Cu, with some higher-grade intervals suggesting structural and lithological controls that could yield localised enrichment. These results are particularly promising for defining potential starter pits and enhancing the project’s early economics.
Haib’s exploration momentum is also set to accelerate. Four additional man-portable rigs have arrived in Namibia and are en route to site, which will bring the total to eight rigs focused on resource drilling and two on geotechnical drilling by October 2025.
Drilling across the four target zones continues to refine the mineralisation envelope. At Target 1, results confirmed shallow-dipping mineralisation near the Volstruis River, with consistent copper values though limited extension northwards due to faulting. Target 2 drilling returned strong near-surface grades, including 8 metres at 0.64% Cu, confirming lateral continuity. Target 3 results refined the mineralisation boundary and improved structural understanding of copper-bearing porphyritic andesites. Target 4 confirmed deeper extensions and highlighted molybdenum enrichment zones, with up to 2,000 ppm Mo reported in places.
The Haib Copper Project, located in Namibia’s //Karas Region near the Orange River, is envisaged as a large-scale copper producer with a potential dual processing route producing copper concentrate via conventional crushing, milling, and flotation, and potentially recovering additional copper through heap leaching.
Koryx is targeting a resource update by late 2025, which will incorporate the new drilling data and revised geological interpretations. The update is expected to build upon the August 2024 MRE, which already positioned Haib as a globally significant porphyry system with scale and grade comparable to early-stage South American copper deposits.
With fieldwork intensifying and multiple rigs on site, Koryx aims to complete the geological and geotechnical datasets required to progress Haib toward a prefeasibility-level study in 2026—a key step in advancing Namibia’s oldest copper deposit into a new generation of production.
