Koryx Copper Receives Additional Encouraging Drill Results at the Haib Copper Project, Southern Namibia

Core Insights - Koryx Copper Inc. announced positive assay results from six drill holes totaling 1,808 meters as part of its Phase 2 drill program for the Haib Copper Project in Namibia, indicating higher copper grades than the average mineral resource estimate [2][4][25] - The company is encouraged by the geological findings, which suggest the presence of additional higher-grade mineralization in previously unrecognized structures, potentially enhancing the overall mineral resource estimate [3][12] Drilling Results - The Phase 2 drill program has completed six diamond drill holes, with results showing significant copper intersections, including 88 meters at 0.41% Cu and 228 meters at 0.34% Cu [4][14] - The drilling has confirmed the extension of higher-grade mineralization in various targets, with notable results from holes HM68, HM69, HM70, HM71, HM73, and HM74 [5][9][10] Geological Understanding - The geological mapping and core relogging efforts, supported by an international consultant, have improved the understanding of the mineralization at Haib, highlighting structural controls that may serve as excellent drill targets [10][12] - The mapping has confirmed the presence of northeast-dipping shear zones associated with higher-grade copper mineralization, which were previously unrecognized [11][12] Future Plans - Koryx plans to mobilize additional man-portable drill rigs to facilitate drilling in challenging terrain, with expectations to complete a total of 28,000 meters of drilling in 2025 [17][18][19] - The company remains confident in its ability to meet its drilling targets and advance the Haib Copper Project towards further development [19] Project Overview - The Haib Copper Project is an advanced-stage copper/molybdenum/gold project with a current mineral resource of 414 million tonnes at 0.35% Cu in the Indicated category and 345 million tonnes at 0.33% Cu in the Inferred category [25][26] - The project aims to establish a long-life, low-cost open-pit copper operation, with potential for additional copper production through heap leaching [24][25]