Koryx Copper has drilled 969 metres of continuous mineralisation at its Haib project in southern Namibia, the longest mineralised intersection recorded at the deposit, as the company moves towards another resource update and a prefeasibility study expected late this year.
Drill hole HM167 returned 969 metres grading 0.27% copper equivalent from the surface to the end of the hole, including several higher-grade sections spread across the intersection.
These included 18 metres at 0.48% copper equivalent from 268 metres, 58 metres at 0.45% from 550 metres and 28 metres at 0.42% from 788 metres.
The result forms part of assays from 19 holes covering 8 586 metres of infill and expansion drilling at Haib, a large porphyry deposit containing copper with associated molybdenum and gold.
While the grade across HM167 is relatively low, the uninterrupted 969-metre intersection supports Koryx’s plan for a large-scale open-pit operation that can process substantial volumes of mineralised material. The result also indicates that mineralisation continues throughout the full depth of the hole.
Koryx president and chief executive Heye Daun said the latest assays continued to return broad mineralised sections with grades above the average of the existing mineral resource estimate.
“These results continue the trend of recent months, with exceptional widths at consistent and regular higher grades above the average MRE grade. HM167 returned 969m at 0.27% CuEq from surface, which is our longest mineralised intersection at Haib to date. HM185 delivered 236m at 0.57% CuEq and HM177 returned 30m at 1.10% CuEq from only 8m depth again demonstrating the high-grade potential of the system. With this batch, our infill drilling is nearing completion, and results continue to trend to the upside ahead of the expected late 2026 mineral resource update.”
The strongest intersection by contained metal came from HM185, which returned 413 metres grading 0.41% copper equivalent from the surface, including 236 metres at 0.57% between depths of 156 metres and 392 metres.
Koryx said the 236-metre section contained numerous wide intervals grading above 0.6% copper, including 10 metres at 1%. Molybdenum was also recorded throughout the hole and increased its copper-equivalent grade.
Drill hole HM177 provided evidence of higher-grade mineralisation close to the surface, returning 413 metres at 0.38% copper equivalent from a depth of one metre. This included 30 metres at 1.10% copper equivalent from eight metres, as well as 10 metres grading 1.33% near the bottom of the hole.
The 30-metre section averaged 1.06% copper before including molybdenum and gold and contained two separate two-metre intervals grading above 4% copper, among the highest grades recorded at Haib.
Another hole, HM160, returned 74 metres grading 0.54% copper, including six metres at 1.36% and eight metres at 1.69%. Koryx said the intersections were significantly wider and higher grade than expected in that part of the deposit.
Several holes encountered mineralisation beyond the boundaries of the existing resource model, giving Koryx potential to add tonnage when it updates the estimate later this year.
HM171 intersected higher-grade zones outside the current model in the northern part of Target Area 2, while HM173 showed that higher-grade copper extended further west than previously modelled.
The HM173 intersections outside the model included 30 metres grading 0.30% copper and another 92 metres at 0.34%. HM162 also encountered 56 metres at 0.35% copper in an area described as new mineralisation that remains open for further investigation.
The existing March 2026 estimate contains 744 million tonnes of indicated resources grading 0.28% copper and 0.32% copper equivalent, holding approximately 2.09 million tonnes of copper. A further 579 million tonnes grading 0.24% copper is classified as inferred, containing about 1.39 million tonnes of copper.
Molybdenum and gold increase the contained metal value, with the existing estimate reporting approximately 104 million pounds of molybdenum and 488 000 ounces of gold in the indicated category.
The latest assays will be incorporated into a further mineral resource update expected towards the end of 2026, which will provide the geological foundation for the project’s prefeasibility study.
Koryx envisages developing Haib as a conventional open-pit operation producing copper and molybdenum concentrate through crushing, milling and flotation.
The September 2025 preliminary economic assessment contemplated average annual copper production of about 92 000 tonnes over 24 years, although those assumptions are expected to change as the larger resource, gold and molybdenum credits and the latest drilling results are incorporated into the prefeasibility study.
The March resource update increased the estimated copper inventory to approximately 3.5 million tonnes across the indicated and inferred categories. It reduced the modelled stripping ratio from 1.74 to 0.92, meaning less waste rock may have to be removed for every tonne of mineralised material mined.
Koryx has indicated that the additional lower-grade material could eventually extend the project beyond the 24-year mine life considered in the earlier assessment. However, the updated production rate, capital cost and mine life will only become clearer when the prefeasibility study is released.
