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Koryx Copper revs up drilling at Haib

KORYX Copper is accelerating development at its Haib Copper Project with an aggressive exploration and study programme.

This is to increase the size and grade of the Haib mineral resource estimate, as well as multiple technical, environmental and metallurgical studies.

According to a statement issued by the Canadian entity on Wednesday, this programme will result in an updated preliminary economic assessment (PEA) and pre-feasibility study (PFS) for the Haib Copper Project in southern Namibia before the end of this year.

This technical strategy represents a major change in the development of Haib and is geared towards the rapid development of the project to the bankability stage.

Major permitting and technical studies will be concluded by the end of 2026, the company said.

Commenting on the programme, Koryx president and chief executive Heye Daun says: “We are very excited to have ended 2024 with a strong treasury of more than C$17 million (about N$220 million) in cash, no liabilities and a clean share structure.

“With new leadership, we hit the ground running and spent the latter part of 2024 preparing for and planning this transformative work programme, which is already underway at Haib.”

He says the company will execute the largest drill initiative at Haib since its discovery, aiming to improve the grade and size of the mineral resource.

“Under this scope, Haib will produce both clean copper concentrate and refined copper cathodes. Right-sizing and optimising the Haib Project is what our 2025 work programme hopes to achieve,” Daun says.

The updated PEA will replace the outdated historical PEA from 2021 and describe the scope of the new Haib project, serving as the basis for the mine permitting process.

This will be followed up with a definitive feasibility study of which the results will be published before the end of 2026.

Daun says Koryx’s vision is to turn Haib into Namibia’s next major mine development.

The company completed a small (3 500m), but highly successful phase 1 drill programme at Haib last year.
– email: matthew@namibian.com.na

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