Koryx Copper Drills Widest Historic Continuous High-Grade Zone

Core Insights - Koryx Copper Inc. announced significant assay results from drill hole HM90 as part of its Phase 3 drill program at the Haib Copper Project in southern Namibia, highlighting high-grade copper mineralization [3][5][8] - The company received approval for the renewal of its Exclusive Prospecting License (EPL 3140) for an additional two years, which is crucial for advancing the project towards obtaining necessary mining permits [7][15][19] Drill Results - Drill hole HM90 intersected 110m at 0.70% Cu from surface to a depth of over 110m, including a notable 36m section at 1.42% Cu, marking the widest continuous high-grade zone encountered at Haib to date [6][8][9] - The overall hole returned an average grade of 0.33% Cu over 417m, with mineralization primarily consisting of chalcopyrite [9][12][24] Project Development - The renewal of EPL 3140 validates Koryx's execution track record in Namibia and allows the company to further de-risk the Haib project as it moves towards critical permitting steps [7][15][19] - A Mining License application has been submitted to convert the EPL to a Mining License, which is essential for establishing the legal basis for mining operations [16][19] Mineral Resource and Feasibility - The Haib Copper Project has a current mineral resource estimate of 414 million tonnes at 0.35% Cu, containing approximately 1,459 million tonnes of copper in the Indicated category, and 345 million tonnes at 0.33% Cu in the Inferred category [23] - The project is positioned as a future long-life, low-cost, low-risk open pit, sulphide flotation copper project, with potential for additional copper production from heap leaching [22][23][24]