The recently completed drilling program at the Haib Copper Project in southern Namibia has resulted in a 13-14% overall grade improvement.
The Haib project, located 30 km from the Orange River and the South African border in the Karas region, is a large porphyry copper-molybdenum deposit dating back to the Archean age.
The project’s mineral resource is categorized into indicated and inferred resources, with a cut-off grade of 0.25% copper (Cu).
The indicated mineral resource stands at 414 Mt @ 0.35% Cu, containing 3,216 Mlbs of copper, while the inferred resource totals 345 Mt @ 0.33% Cu, for 2,503 Mlbs of copper.
Koryx Copper’s executive chairperson, Heye Daun, credited the grade improvement to targeted drilling on structurally controlled, higher-grade zones, despite the limited scope of the new drilling. Daun emphasized the importance of the team’s technical work, which has identified additional areas for potential resource growth and grade enhancement at Haib.
“This success provides a solid foundation for the incoming management team,” Daun said. “We are now focused on planning a more extensive follow-up drill program, alongside further metallurgical testing to demonstrate the feasibility of a conventional processing route, continuing to de-risk and accelerate the development of the Haib copper deposit.”
Koryx Copper is preparing a major drilling campaign later in 2024 or early 2025 to explore areas of downdip extension that have not yet been drilled but show significant resource expansion potential.
In August, drill rigs were mobilized to the site, and an initial 8,200 meters of diamond core drilling across 36 holes is set to begin in September 2024. This program will test resource extensions and aim to confirm additional higher-grade mineralization.
Following this, a second drill campaign will target the downdip extensions of the mineralization, constrained by previous data, with the goal of significantly increasing the overall tonnage of the Haib mineralized system.
