Koryx Copper Announces Further Drill Assay Results Extending Consistent Mineralization at Depth and Laterally at the Haib Copper Project, Southern Namibia

Core Insights - Koryx Copper Inc. is advancing its Haib Copper Project in Namibia, with ongoing drilling and metallurgical testing indicating potential for improved resource estimates and reduced processing costs [4][5][10]. Drilling Progress - Currently, 6 drill rigs are active on site, with an additional 4 man-portable rigs expected to arrive in September, bringing the total to 10 [2][30]. - The company has completed 15,349 meters of the planned 28,000 meters for 2025, with ongoing drilling extending mineralization into previously modeled waste areas [7][30]. - Recent drill results include significant intersections such as HM75 with 927m at 0.24% Cu and HM72 with 52m at 0.32% Cu [7][26]. Preliminary Economic Assessment (PEA) - An updated PEA is scheduled for publication in September 2025, based on the existing mineral resource estimate (MRE) from October 2024, excluding recent drilling data [3][6][10]. - The PEA aims to reposition the Haib project as a large-scale, low-risk, low-cost conventional milling and flotation project, moving away from the previously considered bacterial heap leaching approach [10][12]. Metallurgical Testing - Ongoing metallurgical tests have shown consistent copper recovery results, with successful sorting and flotation tests indicating potential for significant pre-milling waste rejection [32][34]. - Coarse particle flotation tests have generated a discardable tailings stream of about 15% of the bulk flotation feed, which could reduce processing costs [34][35]. Resource Estimation and Geological Modeling - The company is re-logging historical drill core to develop a geo-metallurgical model, which will enhance the understanding of the correlation between copper grades and geological features [5][29]. - An updated mineral resource estimate is anticipated in H1 2026, following the completion of the current drilling program and geological modeling [11][12]. Infrastructure and Supply Studies - Studies for mine infrastructure have progressed, identifying optimal locations for processing plants, waste rock dumps, and tailings facilities [37]. - Power and water supply studies have identified feasible alternatives to support the mine's operational needs, with discussions ongoing with local utilities [38][39].