Koryx Copper Boosts Mineral Resource Estimates at Haib Project

Koryx Copper's Updated Mineral Resource Insights

VANCOUVER, British Columbia — Koryx Copper Inc. (TSX-V: KRY) has reported significant enhancements to the mineral resource estimates for its flagship Haib Copper Project. These updates are the result of a comprehensive analysis conducted by MSA Group, the company’s independent technical consultant, following successful completion of the latest drilling program.

Key Highlights of the Resource Update

The recently released mineral resource statement reveals substantial findings:

• Indicated mineral resource of 414 million tonnes at 0.35% copper, translating to 3,216 million pounds of copper at a 0.25% cut-off grade.
• Inferred mineral resource estimated at 345 million tonnes at 0.33% copper, equivalent to 2,503 million pounds of copper.
• A further sensitivity analysis at a 0.3% copper cut-off indicates the potential for 116 million tonnes at 0.41% copper, yielding a valuable 1,058 million pounds of copper.
• An 8,200-meter follow-on diamond core drilling program is set to commence soon, targeting higher-grade areas and possible extensions of the mineral resource.
• Plans for an additional drill program later this year aim to explore previously undrilled areas at depth, presenting a significant opportunity for resource expansion.

Positive Statements from Leadership

Heye Daun, Koryx Copper’s Executive Chairman, expressed enthusiasm regarding the advancements: “We are thrilled by the results achieved through the recent drill program, showing an overall grade increase of 13-14% across the entire Haib deposit. By concentrating our drilling efforts on structurally controlled, high-grade regions, particularly within the Target 1 area, we have attained this remarkable improvement,” Daun stated. He further emphasized the team's effectiveness in pinpointing additional areas with potential for increased grade and resource growth.

Understanding the Updated Mineral Resource Statement

The mineral resource estimates were formulated in accordance with the Canadian Institute of Mining, Metallurgy and Petroleum (CIM) practices and follow the 2014 CIM Definition Standards. These resources are divided into indicated and inferred categories with reporting done at a 0.25% copper cut-off grade.

The previous estimates from the Preliminary Economic Assessment (PEA) in 2021 indicated a reduction of 9% in the indicated tonnage, yet an impressive 13% increase in copper grade was observed. Inferred resources have also shown a 1% increase in tonnage and a 14% enhancement in grade, showcasing the project's upward potential.

The Role of Drilling in Resource Expansion

Since 1963, the Haib site has seen extensive exploration with over 78,934 meters drilled and significant contributions from various industry leaders. The historical data has been carefully validated and integrated into current modeling practices. Koryx's drilling, particularly its 45 holes executed from 2021-2024, confirmed the mineralization characteristics within the established database, ensuring a robust foundation for future exploration efforts.

Upcoming Plans and Future Prospects

A follow-on drill program is slated to begin shortly, targeting approximately 8,200 meters and aimed at uncovering additional mineralized material. With plans to initiate another exploration phase by early 2025, Koryx Copper aims to further investigate down-dip extensions where data remains limited, indicating substantial growth opportunities ahead.

The Broader Context of the Haib Project

Situated in Namibia, the Haib Copper Project is recognized as one of only two known Paleoproterozoic porphyry copper deposits in southern Africa, characterized by its historical significance and exploration depth. The recent updates not only affirm the project's status but also enhance investor interest due to its inherent geological advantages.

Expert Oversight and Compliance

The technical and scientific information relayed in this update was reviewed by Mr. Dean Richards, a Qualified Person as defined under NI 43-101. A detailed technical report concerning the latest mineral resource estimate is expected to be filed shortly, providing further transparency and insights into the mineral potential at Haib.

Frequently Asked Questions

1. What is the latest mineral resource estimate from Koryx Copper?

The latest resource estimate includes an indicated resource of 414 million tonnes at 0.35% copper and an inferred resource of 345 million tonnes at 0.33% copper.

2. How has the resource grade changed compared to previous estimates?

There's been a 13% increase in grade for indicated resources and a 14% increase for inferred resources since the last assessment in 2021.

3. What future plans does Koryx Copper have for the Haib Project?

Koryx Copper plans to initiate a follow-on drill program targeting higher grades and to further explore down-dip extensions of the mineralization.

4. Who oversees the technical aspects of the mining project?

Mr. Dean Richards, the Vice President of Mineral Resource Development, oversees technical and scientific assessments, ensuring compliance with industry standards.

5. Where can I find more information about Koryx Copper Inc.?

More information is available on the official Koryx Copper website and in their filings on SEDAR+.

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