Koryx Copper updates mineral resource estimate for Haib
VANCOUVER, British Columbia — Koryx Copper Inc. (TSX-V: KRY) has released an updated mineral resource estimate for its flagship Haib Copper Project in Namibia. The new numbers, compiled by independent consultant MSA Group after the company’s latest drilling campaign, point to higher grades and a stronger overall resource base.
What’s new in the resource update
The refreshed mineral resource statement highlights the following:
- Indicated resource of 414 million tonnes at 0.35% copper, equivalent to 3,216 million pounds of copper, reported at a 0.25% cut-off grade.
- Inferred resource of 345 million tonnes at 0.33% copper, or 2,503 million pounds of copper.
- A sensitivity case at a 0.3% cut-off shows 116 million tonnes at 0.41% copper, totaling 1,058 million pounds of copper.
- An 8,200?meter follow-on diamond core drill program is set to begin shortly, focused on higher-grade domains and potential extensions.
- A further drill campaign later this year will test undrilled areas at depth, aiming to grow the resource where data is still limited.
Leadership’s view
Executive Chairman Heye Daun said the latest drilling delivered a meaningful lift in grade across the Haib deposit. According to Daun, concentrating on structurally controlled, higher-grade zones—especially within Target 1—has driven an overall grade increase of roughly 13–14%. He added that the team has become more adept at finding similar targets, which supports both grade improvement and resource growth.
How the updated estimate was prepared
The resource estimate follows Canadian Institute of Mining, Metallurgy and Petroleum (CIM) best practices and the 2014 CIM Definition Standards. Resources are reported in two categories—indicated and inferred—using a 0.25% copper cut-off grade.
Compared with the 2021 Preliminary Economic Assessment (PEA), indicated tonnage is down 9%. However, the indicated grade has increased by 13%, a trade-off that lifts contained metal per tonne. Inferred resources show a 1% increase in tonnage and a 14% rise in grade since 2021, reinforcing the direction of recent work.
Drilling’s role in building the model
Exploration at Haib dates back to 1963. Over that time, more than 78,934 meters have been drilled by multiple operators, producing a large historical dataset. That legacy data has been reviewed, validated, and integrated into the current geologic model. Koryx’s own work—45 holes drilled between 2021 and 2024—has confirmed the mineralization style reflected in the database and improved confidence in how copper is distributed across the deposit.
What’s next
The next phase is an approximately 8,200?meter diamond drill program designed to test higher-grade zones and step out along trends that remain open. Koryx Copper also plans another exploration phase by early 2025, with a focus on down-dip extensions where drilling has been sparse to date. The goal is straightforward: add tonnage and keep lifting average grade where the geology supports it.
Why Haib matters
Located in Namibia, the Haib Copper Project is one of only two known Paleoproterozoic porphyry copper deposits in southern Africa. It has a long exploration history, a sizable dataset, and fresh results that suggest room to grow. The latest update reinforces that standing and, by highlighting higher-grade corridors, sharpens the project’s focus for the work ahead.
Oversight and compliance
The technical and scientific information in this release was reviewed by Mr. Dean Richards, a Qualified Person under NI 43-101. A detailed technical report supporting the mineral resource estimate is expected to be filed shortly, providing added transparency on methodology, assumptions, and the mineral potential at Haib.
Frequently Asked Questions
1. What’s included in the latest Haib resource estimate?
The update reports an indicated resource of 414 million tonnes at 0.35% copper (3,216 million pounds) and an inferred resource of 345 million tonnes at 0.33% copper (2,503 million pounds), both at a 0.25% cut-off grade.
2. How do these figures compare with the 2021 PEA?
Versus 2021, indicated tonnage is down 9%, but indicated grade is up 13%. Inferred tonnage is up 1%, and inferred grade is up 14%. In short: fewer indicated tonnes, higher quality; slightly more inferred tonnes, also higher grade.
3. What does the 0.3% cut-off sensitivity tell me?
At a 0.3% copper cut-off, the model shows 116 million tonnes at 0.41% copper (1,058 million pounds). That sensitivity highlights higher-grade material within the broader deposit.
4. What drilling is planned next?
An approximately 8,200?meter diamond program will target higher-grade areas and test extensions. Another phase is planned by early 2025 to probe down-dip zones where data is limited, aiming to expand the resource.
5. Who is responsible for technical oversight?
Mr. Dean Richards, a Qualified Person under NI 43-101 and the company’s Vice President of Mineral Resource Development, reviews the technical and scientific information and ensures it aligns with applicable standards.
