TSX-listed Koryx Copper has confirmed that a large-scale C$20-million technical programme is to be completed at its Haib copper project, in Namibia, during the course of this year.

This 2025 technical strategy comprises an intensive drill and study programme, including more than 55 000 m of growth and quality improvement drilling, which is aimed at increasing the size and grade of the Haib mineral resource estimate (MRE), as well as multiple technical, environmental and metallurgical studies.

This programme will result in an updated preliminary economic assessment (PEA) and prefeasibility study (PFS) for Haib, both to be published before the end of the year.

Koryx said the fast-tracked technical strategy of drilling, study, infrastructure and permitting activities represented a significant step-change in the development of Haib and was geared towards the rapid development of the project to the bankability stage, with major permitting and all technical studies to be concluded by the end of 2026.

"We . . . ended 2024 with a strong treasury of more than C$17-million in cash, no liabilities and a clean share structure. With new leadership and a top-tier technical team in place, we have hit the ground running and spent the latter part of 2024 preparing for and planning this transformative work programme, which is already under way at Haib,” president and CEO Heye Daun said on January 23.

As part of the 2025 work programme, the company is hoping to improve the grade and size of the mineral resource, while proving the economic feasibility of a much larger conventional flotation concentrate process, as well as subsequent heap leaching for lower-grade material.

“This work programme will, for the first time, bring together all of the quality work that was completed historically and combine it with the updated and much more detailed work, which Koryx is carrying out this year, thereby delivering an integrated Haib project approach with much larger planned copper production than was contemplated historically,” Daun said.

He explained that, under this scope, Haib would be able to produce both clean copper concentrate and refined copper cathodes.

Daun said that, owing to its low altitude of 500 m above mean sea level, its proximity to key infrastructure and the favourable permitting and mining-friendly jurisdiction of Namibia, Haib had the potential to become a high-quality, low-risk global copper development project.

“Given our record of execution and value creation in mining in Namibia, in addition to our blue-chip shareholder base, we believe we are perfectly placed to achieve this during 2025 and beyond,” he said.

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

This will be followed up with a definitive feasibility study (DFS), planned to be published before the end of 2026.

2025 PLANNING OBJECTIVES

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

To achieve this, the company is aiming to fulfil several key objectives during the course of this year.

The first objective is to reinforce the team and establish the infrastructure necessary to execute a large-scale, multiyear drilling and technical study programme.

The programme will be completed by multiple local and international service providers and overseen by Koryx’s own team, aiming to rightsize and optimise Haib and to fast-track the completion of a PFS by the end of the year, followed by the completion of a DFS and mine permitting before the end of 2026.

The second objective is to significantly improve the quality of the MRE by increasing the mineral resource size and copper-equivalent grade.

The third objective is to improve the technoeconomic feasibility of a conventional flotation concentrate process flow sheet for higher-grade material, in parallel with an innovative leaching process for lower-grade material.

This includes integrating the mine plan with the two parallel process flow sheets to maximise value.

The fourth objective involves derisking and advancing the environmental and mine permitting, infrastructure, utilities and project delivery aspects of the project.