LUXEMBOURG-domiciled copper development company Koryx Copper SA has updated its mineral resource estimate for the Haib Copper Project in southern Namibia.
In a statement released by the company on Wednesday, Koryx Copper president and chief executive Heye Daun says the updated mineral resource estimate (MRE) reflects a significant increase in copper-equivalent grade, mainly due to the inclusion of molybdenum and gold by-products.
It also reflects a significant increase in mineralised low-grade tonnage, a significant increase in total contained copper, molybdenum and gold, and a significant reduction in the stripping ratio.
“We are very pleased with the large improvement and refinement of the Haib MRE, particularly the grade increase of the high-grade portion to 0.4% copper, up from 0.34%, coupled with the conversion of a large volume of material previously modelled as waste into lower-grade mineralised material, thereby increasing the total copper inventory from 2.6 metric tonnes to 3.5 metric tonnes of contained copper while also reducing the expected stripping ratio from 1.74x to 0.92x,” he says.
Daun adds that the improvement in copper grade within the high-grade zone was achieved primarily through the inclusion of by-products (Mo and Au) and the refined modelling of the high-grade portions of the mineral resource.
“That high-grade portion in the indicated and inferred category now represents more than 15 years of life-of-mine, and with the addition of the substantially larger lower-grade halo, the life-of-mine of the Haib project is expected to grow very significantly from its current 24 years to likely more than 35 years,” he says.
Daun adds that they will soon have 14 drill rigs on site aiming to complete 50 000 metres of additional infill and growth drilling before the middle of 2026. The results will be incorporated into another MRE update, which will serve as the basis for the pre-feasibility study (PFS).
Daun says the combination of the improved copper grade in the high-grade zones, the establishment of gold and molybdenum indicated and inferred resources, the reduced expected strip ratio, the increased life of mine, and the potential additional grade increase from mineral ore sorting is expected to deliver a step-change improvement in overall project economics to be published as part of the fourth-quarter 2026 PFS.
“The Haib deposit continues to grow and demonstrate the scale and consistency required for a future large‑scale copper producer,” the chief executive says.
Haib is considered one of the oldest known porphyry copper deposits in the world. Disseminated copper mineralisation is contained within the porphyritic granodiorite, porphyritic andesite and associated breccias and is concentrated along a north-westerly structural trend that dips steeply to the southwest.
– email: matthew@namibian.com.na
In an age of information overload, Sunrise is The Namibian’s morning briefing, delivered at 6h00 from Monday to Friday. It offers a curated rundown of the most important stories from the past 24 hours – occasionally with a light, witty touch. It’s an essential way to stay informed. Subscribe and join our newsletter community.
The Namibian uses AI tools to assist with improved quality, accuracy and efficiency, while maintaining editorial oversight and journalistic integrity.
Stay informed with The Namibian – your source for credible journalism. Get in-depth reporting and opinions for
only N$85 a month. Invest in journalism, invest in democracy –
Subscribe Now!
