Koryx Copper Announces Further Drill Assay Results Extending Consistent Mineralization at Depth and Laterally at the Haib Copper Project, Southern Namibia
Koryx Copper Inc.
Suite 888, 700 West Georgia Street,
Vancouver. BC, V7Y 1G5
Canada
Koryx Copper Announces Further Drill Assay Results
Extending Consistent Mineralization at Depth and Laterally
at the Haib Copper Project, Southern Namibia
Highlights
• Completed a further 7 drill holes for 2,986m out of a planned 178 holes in Phase 2, 3 and 4.
• 15,349m of the 28,000m drill target for 2025 has been completed to date
• Drill results extended mineralization into some areas previously modelled as waste.
• HM75: 927m @ 0.24% Cu (entire hole)
14m @ 0.58% Cu (4 to 18 m)
60m @ 0.33% Cu (302 to 362m)
28m @ 0.35% Cu (422 to 450 m)
48m @ 0.34% Cu (820 to 868m)
• HM77: 98m @ 0.37% Cu (86 to 184m)
• HM88: 56m @ 0.34% Cu (126 to 182m)
• HM72: 52m @ 0.32% Cu (36 to 88m)
10m @ 0.46% Cu (258 to 268m)
14m @ 0.91% Cu (558 to 572m)
• HM89: 100m @ 0.31% Cu (42 to 142m)
58m @ 0.37% Cu (278 to 336m)
• HM85: 74m @ 0.31% Cu (80 to 154m)
16m @ 0.33% Cu (192 to 208m)
• 6 drill rigs currently active on site. A further 4 man-portable drill rigs are due to arrive in Namibia in
September increasing total drill rig count on site to 10.
• Ongoing ore sorting and coarse particle flotation trials indicate potential for significant pre -milling
waste rejection and reduced processing costs.
• Updated PEA, based on existing published MRE (dated October 23, 2024) and excluding all new
drilling completed since then, to be published during September 2025, to be followed by an updated
MRE and technical study (including all current drilling) during H2 2026
Vancouver, B.C., Canada – August 28, 2025 – Koryx Copper Inc. (“Koryx” or the "Company") (TSX-V: KRY) is
pleased to announce assay results from seven drill holes (2,986m) received as part of the Phase 2, 3 and 4 drill
program for its 2025 exploration and project development strategy, on the wholly-owned Haib Copper Project
(“Haib” or the “ Project”) in southern Namibia. Haib is an advanced -stage copper/molybdenum/gold project
that is envisaged to produce a copper concentrate via a conventional crushing/milling/flotation metallurgical
process, with the potential for additional copper production via heap leaching.
Heye Daun, Koryx Copper’s President and CEO commented: "We continue to be highly encouraged by the
results of our ongoing drill program. Our strategy of drilling close spaced and deeper holes is paying dividends
as we are seeing mineralization extending down dip and along strike into areas previously classified as waste.
Also, the re-logging of historical drill core to Koryx’s standardized core logging procedures will allow us to
develop a geo-metallurgical model that incorporates data collected across multiple generations of exploration
drilling. Already, our geologists are better able to identify correlation between copper grades and geology,
which allows us to better plan drill locations, as we seek to identify higher grade zones and de-risk the project.
This increased drill density should assist in a much improved and tighter geological interpretation with the next
mineral resource update. The potential improvement in mineral resources t ogether with the conventional
mill/float metallurgical flowsheet should further transform the Haib project into a robust, low risk, long life,
world-class open pit copper development project with serious scale potential.”
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Preliminary Economic Assessment Guidance
As part of its Mining License Application Process, the Company recently completed a Preliminary Economic
Assessment (“PEA”) of the techno-economic feasibility of the Haib project and expects to publish the results
during September 2025. This PEA is based on the Updated Mineral Resource date d October 23, 2024, and
does not yet include any of the drilling or geological modelling work completed since then. It does however
reflect the progress made by the new Koryx technical team with respect to the updated met allurgical
testwork and process flowsheet development since the previous PEA, published December 15, 2021.
This updated PEA will reflect an improved, low risk process flowsheet utilizing mainly conventional milling &
flotation, instead of the previously envisaged bacterial heap leaching, and it reflects all of the progress made
with respect to metallurgical testwork, infrastructure trade-offs and de-risking and significant progress with
respect to pre-concentration and sorting of mineralized material.
The objective of publishing this updated PEA, based off an outdated MRE, is to reset and reposition the Haib
project as a large-scale, low risk, low cost, conventional milling & flotation project, instead of a small-scale,
high risk bacterial heap leaching project. The objective also is to demonstrate techno-economic feasibility of
this process route, using recent input assumptions and updated metallurgical test wor k. As the drilling,
assaying and geological re-modelling of the updated Haib mineral resource is anticipated to still require at
least 6-9 months, this September 2025 PEA will be based on the existing mineral resource, which excludes
all of the recent drilling.
It is expected that completion of the current infill & expansion drill program , and subsequent geological
modelling and mine planning will be completed during H1 2026. Following on from that, an updated Mineral
Resource Estimate will be published late in H1 2026 and an updated, PFS-level technical study is planned to
be completed thereafter, early during the 2nd half of 2026.
With the anticipated mineral resource and processing improvements to be completed by then, th e next
technical study has the potential to very significantly further improve the technical and economic results
pertaining to the Haib copper project. This is what Koryx Copper is working towards.
Discussion of Drill Results
Target 1 Results
HM85 was drilled north of the Volstruis River, on the eastern side of Target 1. In this area, the river course is
thought to follow an east –west-trending fault zone, and the hole was positioned to test the down -dip
extension of mineralization from Target 1 across this potential structure. Mineralization coincides with a
transition from fine -grained porphyritic granodiorite to a coarser -grained phase. From this point,
mineralization extended approximately 20m deeper than currently modelled, with grades exceeding previous
estimates. A second zone of higher-grade mineralization was intersected from 200m, averaging over 0.3% Cu
and peaking at 0.6%. This zone has not been intersected by earlier drilling.
Target 2 Results
HM72 was drilled west of HM75 and approximately 80m east of HM73 (previously reported). Results are
broadly comparable to HM73, with the full 695m length averaging more than 0.24% Cu. Numerous mineralised
intersections are associated with strong molybdenum grad es, reaching up to 0.56% Mo in one sample.
Together with HM73 and HM75, these results are expected to contribute materially to both resource tonnage
and grade increases. Notably, a 14m interval grading 0.91% Cu at a vertical depth of ~400m confirms th e
continuation of high-grade mineralization at depth in this area.
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Figure 1: Plan view indicating the seven recent drill hole result locations
Figure 2. Long section looking northeast showing the seven reported drill hole intersection depths relative to the model
for Cu mineralization. True widths/thickness of the mineralization are unknown.
Mineralization
Extended below
current wireframe
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Target 2 Results Continued
HM75 was drilled near the southwest contact of the central portion of Target 2, returning highly positive
results in terms of potential tonnage and grade increases. Over its full 927m length, the hole averages more
than 0.24% Cu. Copper grades to 350m downhole are broadly consistent with expectations; however, deeper
intersections represent a significant resource addition relative to the current model where mineralization
continued outside of the expected envelope of mineralization.
In addition, molybdenum is well developed from surface to approximately 870m, with grades up to 0.29% Mo.
HM92 was drilled on the northern margin of the central portion of Target 2 to close sample spacing and assess
the potential for deeper mineralization. Results indicate an approximate 40m northward lateral extension of
mineralization in this area. At depth, copper mineralization occurs more sporadically in narrow intersections,
while molybdenum is virtually absent in these deeper zones.
Target 3 Results
HM88 was drilled in the transition zone between Targets 2, 3, and 4, positioned to test the east–west-trending
fault zone mapped along the Volstruis River and previously identified by both Teck and RTZ. From surface to
the interpreted northern contact of the fault (~68m downhole), Cu grades are low and Mo is largely absent.
Beyond this point, Cu grades improve significantly and show good correlation with the existing model. Mo
remains very low until 434m downhole, where it increases markedly.
Target 4 Results
HM77 was drilled in the eastern part of Target 4 to close sample spacing. Results are broadly consistent with
expectations, with a resource tonnage reduction near the top of the hole offset at depth by gains in both
tonnage and grade relative to the current model.
HM88 was drilled in the southern part of Target 4 to test the high-grade mineralized zone previously identified
by historical RTZ holes HB029 and HB067. Results correlate closely with the current model, confirming the
presence of a significant mineralized zone initially defined only by historical data. Importantly, HM88 also
provides the first detailed lithological, alteration, and structural information from this zone.
The true widths/thickness of the mineralization in the target results are unknown.
Molybdenum and Gold Mineralization
Assay results confirm ongoing molybdenum mineralization across all tested samples. Molybdenum grade is
known to be not well correlated with Cu, but areas of higher-grade Mo are consistently seen throughout the
system, and in these recent results HM72 produced 38m @ 0.037% Mo (324 to 362m). The additional Mo data
is providing the framework to produce a dedicated Mo model for updating the by-product resource estimate
in the next model iteration.
All samples are also being assayed for gold in addition to the multielement analysis, and background levels of
approximately 0.025g/t of Au are found throughout the porphyry. Narrower intervals of up to 10m often
contain 0.05g/t Au but, like Mo, are poorly correlated with the Cu grade. The expected substantial increase in
the assay database will allow for better modelling and a gold estimation in the next mineral resource model
update planned for H1 2026.
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Table of Significant Intersections
Hole# Zone From (m) To (m) Width (m)1 Cu (%) Mo (%) Au (g/t)
HM72
Entire Hole 0 695 695 0.24 0.011 0.019
Main 16 28 12 0.31 0.006 0.022
Main 36 88 52 0.32 0.007 0.028
Including 36 40 4 0.52 0.005 0.043
Main 116 150 34 0.32 0.009 0.019
Main 246 280 34 0.32 0.011 0.017
Including 258 268 10 0.46 0.009 0.019
Main 324 362 38 0.32 0.037 0.023
Main 424 430 6 0.43 0.011 0.022
Main 476 482 6 0.32 0.024 0.019
Main 492 498 6 0.32 0.016 0.018
Main 510 524 14 0.30 0.025 0.020
Main 558 572 14 0.91 0.003 0.091
Including 560 566 6 1.13 0.004 0.153
Including 570 572 2 1.11 0.002 0.051
HM75
Entire Hole 0 927 927 0.24 0.010 0.021
Main 4 18 14 0.58 0.006 0.027
Including 8 12 4 1.00 0.003 0.030
Main 136 142 6 0.51 0.006 0.048
Main 190 200 10 0.41 0.007 0.025
Main 230 236 6 0.40 0.012 0.033
Main 282 292 10 0.31 0.011 0.027
Main 302 362 60 0.33 0.014 0.022
Main 396 404 8 0.31 0.014 0.022
Main 422 450 28 0.35 0.018 0.031
Including 428 432 4 0.54 0.020 0.051
Main 482 532 50 0.32 0.019 0.023
Main 566 572 6 0.32 0.002 0.027
Main 634 640 6 0.36 0.001 0.022
Main 672 678 6 0.42 0.001 0.022
Main 688 704 16 0.30 0.018 0.030
Main 714 722 8 0.31 0.004 0.023
Main 736 750 14 0.33 0.012 0.031
Main 766 774 8 0.31 0.020 0.031
Main 786 792 6 0.46 0.010 0.043
Main 820 868 48 0.34 0.008 0.033
HM77
Entire Hole 0 222 222 0.26 0.008 0.016
Main 4 12 8 0.33 0.004 0.029
Main 86 184 98 0.37 0.008 0.020
Including 86 92 6 0.47 0.003 0.017
Including 100 106 6 0.48 0.008 0.024
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Including 134 146 12 0.50 0.009 0.032
Including 166 174 8 0.57 0.014 0.014
HM85
Entire Hole 0 223 223 0.22 0.003 0.032
Main 80 154 74 0.31 0.004 0.053
Including 120 130 10 0.45 0.002 0.078
Including 150 154 4 0.49 0.024 0.052
Main 192 208 16 0.33 0.002 0.033
HM88
Entire Hole 0 220 220 0.19 0.002 0.019
Main 68 74 6 0.43 0.000 0.036
Main 126 182 56 0.34 0.002 0.024
HM89
Entire Hole 0 495 495 0.22 0.008 0.027
Main 42 142 100 0.31 0.005 0.031
Including 62 70 8 0.62 0.023 0.051
Including 74 80 6 0.54 0.002 0.041
Main 188 198 10 0.34 0.002 0.044
Main 226 250 24 0.31 0.011 0.030
Main 278 336 58 0.37 0.011 0.037
Including 288 294 6 0.55 0.004 0.039
Including 322 324 2 1.26 0.032 0.060
HM92
Entire Hole 0 205 205 0.17 0.001 0.016
Main 20 26 6 0.45 0.011 0.025
Main 96 100 4 0.33 0.001 0.025
Main 174 184 10 0.40 0.002 0.021
Including 174 176 2 1.11 0.003 0.037
1. Widths are interval widths and not true widths, as the true thickness/widths of the mineralization are unknown. The reported intervals are
calculated using the following parameters:
a. Only Cu (%) was used to determine the intervals
b. The target composite grade is ≥0.30% Cu.
c. Composites start and end with samples ≥0.30% Cu.
d. Grades between 0.20% and 0.30% are included in interval but generally constitute <40% of the interval.
e. Consecutive samples between 0.20% and 0.30% should be fewer than 5 samples (10m).
f. Grades below 0.20% are included but generally constitute <20% of the interval.
g. Consecutive grades <0.2% should be fewer than 2 samples (4m).
Surface Mapping and Updated Logging Database
The detailed re-logging of historical core has been completed. The re-logging includes previous Koryx drill core
and all available core from drilling carried out on the project since the late 1990’s, which can now be integrated
with the more detailed logging implemented under the guidance of Dr. Warren Pratt since late 2024. The new
logging data will be combined with the ongoing surface mapping to create new geological, alteration and
structural models. Preliminary interpretations using the new geological and structural logging indicate better
correlation with copper grade. Additionally, for the first time a molybdenum model is definable based on
systematic assays and structural logging in particular. The three-dimensional models will inform the targeting
of higher -grade co pper and molybdenum mineralization, assist in better constraining the copper and
molybdenum grade models and the updating of the resource estimate planned for H1 2026.
Drilling Progress Discussion
Drilling has continued with the four track-mounted rigs and two additional man-portable drill rigs have arrived
on site and began drilling in August. The new drill rigs began production over the last week , and these new
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rigs are expected to significantly increase the monthly meter rate towards the 28,000m drill program planned
by the end of the year.
Four more man-portable rigs are due to arrive in Namibia in September before being commissioned and
deployed to the Project to begin drilling in October. These additional rigs will build capacity towards ramping
up drilling production towards the 55,000m drilling program expected to be completed in H2 2026.
Metallurgical Test Work Update
Crushing, milling and flotation tests have continued using drill core and composite samples compiled from the
core shed on site. Copper recovery results have been consistent with earlier press releases, and recovery of
molybdenum from copper into a separate marketable concentrate has been demonstrated to be achievable.
Over the last two months, bulk and particle mineralized material sorting as well as coarse particle flotation
(“CPF”) tests have commenced, with the objective of rejecting barren waste rock minerals containing little or
no copper from flotation feed. This reduces processing costs per unit of copper produced.
Coarse particle flotation tests have successfully generated a discardable >150µm tailings stream amounting to
about 15% of bulk conventional flotation feed. Ore sorting tests are not as far advanced yet but simulations
have been carried out based on initial confirmation that sensors of different types can identify chalcopyrite in
Haib mineralized material samples and evaluation of the drill core databases. These simulations indicate that
possibly 15 to 20% of the run of mine crusher feed could be rejected ahead of milling, without significant losses
of copper.
More detail about these tests and the results will be included in the planned PEA press release which is due
to be issued within the next few weeks, relating to the Preliminary Economic Analysis of the Haib project.
Mine Infrastructure Update
Studies to advance the non-process plant infrastructure specific to the terrain environment at Haib have been
significantly progressed by the engineering team. The mine site area was assessed to locate the preferred
plant location and then to optimize the main waste rock dumps and tailings facilities in relation to this position.
Trade-off studies were then able to identify near optimal locations for potential office and housing locations
as well as access and internal road solutions.
Power and water supply studies have identified feasible alternatives to supply the conceptual mine design for
the range of alternative plant throughput options considered. Water consumption in the range of 20M m 3pa
and approximately 150 MW of maximum power demand including milling and flotation have been presented
to the Namibian parastatal water and power utilities, NamWater and NamPower , respectively. Both
NamWater and NamPower have begun critically assessing the grid and network capacities in southern Namibia
to provide solutions in partnership with the Project and have begun advanced discussions with the Project
engineers.
Trade off studies during the PEA phase have provided the basis for recommendations for further study. The
Knight Piésold engineering team has begun early work to produce a more detailed design recommendation in
the upcoming PFS phase of the Project study.
Quality Control
All drill core was logged, photographed, and cut in half with a diamond saw. Half of the core was bagged and
sent to ALS Laboratories Ltd. in Johannesburg, South Africa for analysis (SANAS Accredited Testing Laboratory,
No. T0387) and ActLabs in Canada, while the other half was quartered with one quarter archived and stored
on site for verification and reference purposes while the other quarter will be used for metallurgical test work.
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33 elements are analyzed by Induced Coupled Plasma (ICP) utilizing a 4-acid digestion and gold is assayed for
using a 30g fire assay method. Duplicate samples, blanks, and certified standards are included with every batch
and are actively used to ensure proper quality assurance and quality control (“QA/QC”) The QA/QC frequency
is 1 in 20 for each of blanks, duplicates and standards.
Qualified Person
Mr. Dean Richards Pr.Sci.Nat., MGSSA – BSc. (Hons) Geology is the Qualified Person for the Haib Copper
Project and has reviewed and approved the scientific and technical information in this news release and is a
registered Professional Natural Scientist with the South African Council for Natural Scientific Professions (Pr.
Sci. Nat. No. 400190/08) . Mr. Richards is independent of the Company and its mineral properties and is a
Qualified Person for the purposes of National Instrument 43-101.
About Koryx Copper Inc.
Koryx Copper Inc. is a Canadian copper development Company focused on advancing the 100% owned Haib
Copper Project in Namibia whilst also advancing its portfolio of copper exploration licenses in Zambia. Haib is
a large, advanced (PEA-stage) copper/molybdenum porphyry deposit in southern Namibia with a long history
of exploration and project development by multiple operators. More than 90,000m of drilling has been
conducted at Haib since the 1970’s with significant exploration programs led by companies incl uding
Falconbridge (1964), Rio Tinto (1975) and Teck (2014). Extensive metallurgical testing and various technical
studies have also been completed at Haib to date.
Additional studies are underway aiming to demonstrate Haib as a future long-life, low-cost, low-risk open pit,
sulphide flotation copper project with the potential for additional copper production from heap leaching. Haib
has a current mineral resource of 414Mt @ 0.35% Cu for 1,459Mt of contained copper in the Indicated
category and 345Mt @ 0.33% Cu for 1136Mt of contained copper in the Inferred category (0.25% Cu cut-off).
Mineralization at Haib is typical of a porphyry copper deposit and it is one of only a few examples of a
Paleoproterozoic porphyry copper deposit in the world and one of only two in southern Africa (both in
Namibia). Due to its age, the deposit has been subjected to multiple metamorphic and deformation events
but still retains many of the classic mineralization and alteration features typical of these deposits. The
mineralization is dominantly chalcopyrite with minor bornite and chalcocite present and only minor secondary
copper minerals at surface due to the arid environment.
Further details of the Haib Copper Project are available in the corresponding technical report titled, "NI 43 -101
Technical Report – August 2024 Mineral Resource Estimate for the Haib Copper Project, Namibia" dated effective
August 31, 2024 (the "Technical Report"). The Technical Report and other information is available on the Company's
website at https://koryxcopper.com and under the Company's profile on SEDAR+ at www.sedarplus.ca.
ON BEHALF OF THE BOARD OF DIRECTORS
"Heye Daun"
President, CEO and Director
Additional information is also available by contacting the Company:
Julia Becker
Corporate Communications
+1-604-785-0850