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Koryx Copper Provides Further Drill Results for the Haib Copper Project in Southern Namibia

By 15 Mins Read
Koryx Copper Provides Further Drill Results for the Haib Copper Project in Southern Namibia

Highlights 

  • Assay results reported for 17 drill holes comprising over 6,430m of infill drilling.
  • Consistent, wide intercepts up to 831m in width, including a 244m interval @ 0.42% CuEq in HM155.
  • Highest Cu (8.01%) and Ag (60.5g/t) grades recorded at Haib to date, intersected from surface in HMRC008 from 4m to 6m.
  • Drilling is ongoing with 15 drill rigs, 7 of which are on double shift.
  • Technical studies and cost estimation ongoing towards planned PFS publication at the end of 2026.
  • Best 7 of 17 drill hole assay intersections as follows:
• HM155:   831m @ 0.27% CuEq (95ppm Mo, 0.018g/t Au) (0 – 831m)
  incl. 244m @ 0.42% CuEq (536 – 780m)
• HM147:   654m @ 0.25% CuEq (33ppm Mo, 0.019g/t Au) (0 – 654m)
  incl. 84m @ 0.47% CuEq (4 – 88m) incl. 12m @ 0.79% CuEq
  and 46m @ 0.47% CuEq (234 – 280m)
• HMRC008:   231m @ 0.44% CuEq (24ppm Mo, 0.037g/t Au) (0 – 231m)
  incl. 12m @ 2.55% CuEq (0 – 12m)
  and 10m @ 0.61% CuEq (190 – 200m)
  and 14m @ 0.47% CuEq (216 – 230m)
• HM152:   578m @ 0.25% CuEq (51ppm Mo, 0.013g/t Au) (0 – 578m)
  incl. 14m @ 0.59% CuEq (84 – 98m)
  and 16m @ 0.36% CuEq (282 – 298m)
  and 42m @ 0.33% CuEq (412 – 454m)
• HM139:    466m @ 0.26% CuEq (38ppm Mo, 0.025g/t Au) (0 – 466m)
  incl. 76m @ 0.52% CuEq (140 – 216m) incl. 14m @ 0.70% CuEq
  and 14m @ 0.37% CuEq (318 – 332m)
• HM146:    497m @ 0.22% CuEq (43ppm Mo, 0.023g/t Au) (0 – 497m)
  incl. 20m @ 0.44% CuEq (234 – 254m)
  and 62m @ 0.37% CuEq (354 – 416m) incl. 10m @ 0.47% CuEq
• HM134:    605m @ 0.21% CuEq (47ppm Mo, 0.021g/t Au) (0 – 605m)
  incl. 20m @ 0.54% CuEq (248 – 268m)
  and 10m @ 0.42% CuEq (362 – 372m)
  and 10m @ 0.55% CuEq (444 – 454m)
     

LUXEMBOURG, Aug. 14, 2026 (GLOBE NEWSWIRE) — Koryx Copper S.A. (TSX:KRY.V) (NSX:KYX) (OTCQB:KRYXF) (“Koryx” or the “Company“) is pleased to announce assay results from 17 drill holes (6,430m) received as part of the ongoing infill and expansion drill program on the wholly-owned Haib Copper Project (“Haib” or the “Project”) in southern Namibia.

The Haib deposit is a massive, disseminated porphyry Cu deposit with associated Mo and Au. Haib is envisaged to produce a Cu and Mo concentrate via large-scale open pit mining and conventional sulphide milling and flotation with the potential for additional copper cathode production via oxide heap leaching. Ongoing process flow sheet optimization is aimed at improving project economics whilst reducing technical risk.

Heye Daun, Koryx Copper’s President and CEO commented: “These results stand out for their length as much as their grade. HM155 intersected 0.27% CuEq from surface to 831m including 244m at 0.42% CuEq, while HM139 and HM147 returned continuous zones of 76m at 0.52% CuEq and 84m at 0.47% CuEq, respectively, underscoring the scale and continuity of mineralization at Haib at good grades. By-product credits continue to strengthen the resource as well, with molybdenum and gold now joined by encouraging silver values, including our highest Ag grade at Haib to date. As we approach the end of our infill drilling ahead of an updated resource estimate, the balance of holes serve to confirm the existing model, with results trending consistently to the upside across all of the Haib system, reinforcing our confidence in the deposit as we advance towards the PFS publication expected at the end of 2026.”

Figure 1: Plan view indicating recent drill hole locations. Results indicated in black are shown on the long section below

Discussion of Results

Target Area 1:

HM134 was drilled on the eastern edge of the high-grade Target1 mineralization. Results from the upper section of the hole correlate well with the existing model, while the lower section demonstrates that the >0.2% Cu grade extends potentially some 100m below the current grade shell. Mo grades are initially low but increase from 248 m downhole, averaging between 100ppm and 200ppm to a depth of 518m.

HM139 lies in the southern part of Target 1 and was drilled to better define the southern limit of mineralization. The upper 205m of the hole was reported previously; however, as drilling terminated in strong mineralization, the hole was subsequently extended. The drill trace lies almost entirely outside the current Cu grade shell model, and the excellent results are expected to shift the 0.25% Cu grade shell southwards between approximately 50m and 140m depending on depth. Au mineralization is also present, including an 8.77m interval averaging 0.14g/t from 196m downhole.


Figure 2. Long section showing seventeen drillhole intersections relative to the model for CuEq% Intercepts

HM147 starts within the high-grade Target1 mineralization before intersecting the Quartz Vein, which separates the Target1 and Target2 mineralized zones, at a depth of 408m where it enters Target2 mineralization. As an infill hole, the excellent results over the upper 408m correlate well with the current grade shell model. Below the Quartz Vein, the hole intersects an 88m-wide barren Cu zone before returning to grades typical of Target2 mineralization. Mo is well developed within the upper 100 m of the hole but decreases to background levels below this interval.

HM154 is located on the southeastern edge of Target1. Cu results are consistent with expectations, although grades are slightly higher than forecast. Au is present at relatively high grades for Haib, returning 0.103g/t over 8m from 20m downhole. Mo grades remain low throughout the hole.

HM157 is an infill hole drilled towards the centre of Target1 mineralization. Results correlate well with the current grade shell model. Mo is generally poorly developed, with the only significant intersection returning 361ppm over 4m from 366m. Au occurs sporadically at relatively high grades for Haib, including 0.25g/t from 248m and 0.20 g/t from 268m over 2m.

HM161 was drilled on the eastern limit of Target1 mineralization, where Cu grades are generally below 0.2%. Consequently, the intersection of 16m at 0.31% Cu from 80m was unexpected. Mo is essentially absent throughout the hole.

HM163 is an infill hole drilled in the northwestern part of Target1. The hole was expected to intersect the Quartz Vein before entering Target2, which it has done, although approximately 30m shallower than anticipated. The lower half of the hole returned Cu grades lower than those predicted by the surrounding boreholes and is therefore expected to reduce the extent of the 0.25% Cu grade shell in this vicinity. Mo is essentially absent throughout the hole.

HMRC004 – is an infill reverse circulation hole located in the bed of the Volstruis River and drilled into Target1. Cu results correlate very well with the existing grade shell model. Mo is generally absent. Au is present, with one sample returning 0.22g/t and another 0.16g/t over separate 2m intervals between 56m and 76m downhole.

HMRC005 was drilled from within the Volstruis River on the northeastern limit of Target1 mineralization. The intersection of 12m at 0.51% Cu, commencing close to surface, has the potential to extend the 0.25% Cu grade shell laterally by approximately 30–40 m, although grades are generally slightly lower than anticipated. Mo is present but at low grades.

HMRC006 is located on the northeastern periphery of Target1 and was drilled to test the down-dip projection of the higher-grade intersections encountered in HM017, located 55 m to the south. Results show that these higher-grade intersections do not extend to the position of HMRC006. Consequently, the results are expected to reduce the extent of the Cu grade shells in the immediate vicinity of the hole. W mineralization is present, returning 295ppm over 4m from 38m downhole.

HMRC007 is an infill reverse circulation hole located in the northwestern part of Target1. Cu results are broadly consistent with expectations; however, drilling was terminated at 231m due to machine limitations. With the final 17 m averaging 0.39% Cu, it is clear mineralization remains open at the end of the hole and drilling will continue with a diamond tail. Mo is poorly developed throughout the drilled interval.

HMRC008 is an infill hole located in the northwestern part of Target1. Although the model predicted high-grade Cu mineralization from surface, the intersection of 12m at 2.39% Cu exceeded expectations. One sample within this interval returned the highest Cu (8.01%) and Ag (60.5g/t) grades recorded at Haib to date. This is encouraging, and the team are modelling the Ag resource as an additional potential by product. Au is also elevated, with a peak grade of 0.34g/t. W mineralization is well developed, returning 640ppm over 6m from 14m downhole and 238ppm over 8m from 42m. Despite these locally exceptional grades, the overall results correlate well with the existing grade shell model. As the hole was terminated in mineralization due to drilling limitations, it will also be extended with a diamond tail.

Target Area 2:

HM146 and HM155 are infill holes drilled 31 m apart on the same section line to depths of 479m and 831m, respectively. Over the interval common to both holes, the results are virtually identical, with the consistently high Cu grades expected to produce a positive expansion of the 0.25% Cu grade shell. Below approximately 500m, the results from HM155 continue to correlate well with the current geological model. Mo grades become more variable below 200m, with elevated values occurring within discrete sub-zones ranging from 2m to 20m in width. W mineralization is also present, with HM146 returning 109ppm over 8m from 236m, while HM155 intersected 1,500ppm over 2m at 798m.

HM156 is located in the northern part of Target2 and was drilled to provide improved definition of the northern limit of Cu mineralization. Results indicate that the grade shell boundary is likely to shift southwards, resulting in a localized reduction in mineralized volume. However, the two intervals exceeding 0.46% Cu occur outside the existing model and are expected to partially offset this reduction.

HMRC009 lies in the centre of Target2 and was drilled as an infill hole. Cu results are generally consistent with expectations; however, lower grades encountered between 100m and 170m are expected to reduce the extent of the 0.25% Cu grade shell in the immediate vicinity of the hole. Mo is well developed throughout much of the hole, with grades commonly exceeding 150ppm.

Target Area 3:

HM152 is an infill hole with Cu results that correlate well with the current grade shell model. Mo is moderately developed, with grades ranging from 84ppm to 202ppm. Au is present as a single 2m interval at 530m, returning a grade of 0.46g/t. Overall, the results support the existing interpretation of mineralization within this part of Target3.

Table of Significant Intersections

Hole# Zone From (m) To (m) Width (m)1 Cu (%) Mo (ppm) Au (g/t) CuEq (%)2
HM134 (previously partially reported) Entire Hole 0 605 605 0.18 47 0.021 0.21
Main 4 36 32 0.31 26 0.027 0.34
Main 248 268 20 0.45 183 0.028 0.54
Including 248 254 6 0.84 72 0.030 0.89
Main 362 372 10 0.36 108 0.028 0.42
Main 390 394 4 0.70 141 0.037 0.78
Main 428 518 90 0.25 85 0.028 0.30
Including 444 454 10 0.44 201 0.052 0.55
Main 502 518 16 0.26 51 0.037 0.31
HM139 (previously partially reported) Entire Hole 0 466 466 0.23 38 0.025 0.26
Main 140 216 76 0.47 30 0.057 0.52
Including 150 164 14 0.64 37 0.063 0.70
Including 196 205 9 1.02 18 0.139 1.13
Main 318 332 14 0.34 53 0.016 0.37
Main 366 420 54 0.32 107 0.018 0.37
Including 384 388 4 0.80 122 0.042 0.87
HM146 Entire Hole 0 497 497 0.18 43 0.023 0.22
Main 234 254 20 0.38 100 0.029 0.44
Main 266 270 4 0.43 111 0.040 0.50
Main 354 416 62 0.31 105 0.017 0.37
Including 380 386 6 0.42 320 0.021 0.55
Including 402 412 10 0.43 38 0.025 0.47
Main 466 474 8 0.28 28 0.016 0.30
HM147 Entire Hole 0 654 654 0.22 33 0.019 0.25
Main 4 88 84 0.41 100 0.032 0.47
Including 6 10 4 1.13 132 0.055 1.22
Including 22 34 12 0.73 84 0.048 0.79
Including 48 52 4 0.56 230 0.043 0.67
Including 64 70 6 0.34 432 0.028 0.52
Main 234 280 46 0.44 21 0.039 0.47
Including 236 242 6 1.02 41 0.072 1.09
Including 252 258 6 0.55 34 0.056 0.60
Main 316 356 40 0.29 19 0.008 0.30
Including 316 322 6 0.56 7 0.035 0.59
Main 374 406 32 0.34 9 0.010 0.35
Including 386 390 4 0.51 9 0.022 0.53
Including 396 398 2 0.75 8 0.009 0.75
Main 592 614 22 0.26 88 0.027 0.31
HM152 Entire Hole 0 578 578 0.22 51 0.013 0.25
Main 50 56 6 0.39 66 0.015 0.43
Main 84 98 14 0.54 103 0.019 0.59
Including 86 90 4 0.95 176 0.025 1.04
Main 134 202 68 0.26 100 0.014 0.31
Main 214 274 60 0.27 54 0.016 0.30
Main 282 298 16 0.33 47 0.016 0.36
Main 338 400 62 0.29 59 0.012 0.32
Including 342 346 4 0.58 66 0.021 0.62
Main 412 454 42 0.29 90 0.013 0.33
HM154 Entire Hole 0 165 165 0.12 7 0.020 0.14
Main 16 34 18 0.28 33 0.065 0.34
HM155 Entire Hole 0 831 831 0.23 95 0.018 0.27
Main 204 244 40 0.29 42 0.027 0.33
Including 228 234 6 0.57 66 0.045 0.63
Main 330 358 28 0.35 61 0.028 0.39
Including 338 350 12 0.45 63 0.028 0.49
Main 494 514 20 0.27 52 0.017 0.30
Main 536 780 244 0.33 198 0.023 0.42
Including 580 586 6 0.57 89 0.033 0.63
Including 630 644 14 0.46 286 0.033 0.59
Including 656 670 14 0.43 297 0.022 0.56
Including 680 702 22 0.43 311 0.032 0.57
Including 712 726 14 0.56 377 0.027 0.72
HM156 Entire Hole 0 356 356 0.17 13 0.017 0.18
Main 212 232 20 0.46 20 0.043 0.50
Including 222 226 4 0.77 50 0.083 0.85
Main 308 314 6 0.51 6 0.036 0.54
HM157 Entire Hole 0 450 450 0.19 49 0.020 0.22
Main 48 56 8 0.29 81 0.046 0.35
Main 88 100 12 0.33 63 0.023 0.37
Main 224 234 10 0.27 100 0.030 0.33
Main 246 256 10 0.95 33 0.043 0.99
Including 248 250 2 3.77 72 0.113 3.88
Main 268 280 12 0.31 43 0.051 0.37
Main 366 370 4 0.82 361 0.143 1.05
HM161 Entire Hole 0 188 188 0.12 9 0.015 0.13
Main 80 96 16 0.31 9 0.020 0.33
HM163 Entire Hole 0 269 269 0.19 10 0.018 0.21
Main 8 18 10 0.27 4 0.028 0.30
Main 32 42 10 0.28 10 0.029 0.30
Main 68 74 6 0.36 14 0.032 0.39
Main 86 122 36 0.30 19 0.031 0.33
Including 88 96 8 0.41 65 0.035 0.45
Including 106 110 4 0.45 2 0.049 0.49
Main 260 264 4 0.64 2 0.037 0.67
HMRC004 Entire Hole 0 243 243 0.22 9 0.038 0.25
Main 0 6 6 1.27 16 0.013 1.29
Main 62 128 66 0.31 12 0.049 0.35
Including 64 76 12 0.54 46 0.078 0.61
HMRC005 Entire Hole 0 195 195 0.23 30 0.029 0.26
Main 2 14 12 0.51 57 0.031 0.55
Main 50 62 12 0.29 22 0.029 0.32
Main 92 110 18 0.27 24 0.040 0.31
Main 136 142 6 0.33 27 0.034 0.37
Main 180 195 15 0.28 64 0.058 0.35
HMRC006 Entire Hole 0 228 228 0.13 19 0.019 0.15
Main 218 228 10 0.27 13 0.034 0.30
HMRC007 Entire Hole 0 231 231 0.23 12 0.030 0.26
Main 0 6 6 0.38 9 0.022 0.39
Main 14 20 6 0.30 64 0.024 0.34
Main 24 32 8 0.27 51 0.026 0.30
Main 40 48 8 0.32 19 0.028 0.35
Main 102 112 10 0.36 9 0.037 0.39
Main 214 231 17 0.39 9 0.056 0.44
HMRC008 Entire Hole 0 231 231 0.40 24 0.037 0.44
Main 0 12 12 2.39 135 0.148 2.55
Including 4 6 2 8.01 330 0.342 8.38
Main 16 110 94 0.32 29 0.028 0.35
Including 48 54 6 0.58 25 0.041 0.62
Including 100 106 6 0.59 79 0.053 0.65
Main 180 202 22 0.42 11 0.041 0.45
Including 190 200 10 0.57 14 0.053 0.61
Main 216 230 14 0.42 6 0.057 0.47
Including 224 228 4 0.72 9 0.079 0.78
HMRC009 Entire Hole 0 243 243 0.24 120 0.018 0.30
Main 0 28 28 0.44 77 0.030 0.49
Including 2 10 8 0.64 110 0.036 0.71
Main 70 146 76 0.24 161 0.018 0.31
Including 80 86 6 0.36 142 0.019 0.43
Main 170 184 14 0.30 239 0.020 0.40
Including 180 184 4 0.44 460 0.029 0.63
Main 196 214 18 0.27 164 0.019 0.34
  1. True widths are unknown. Widths are interval widths and not true widths. The reported intervals are calculated using the following parameters:
    1. Only CuEq (%) was used to determine the intervals.
    2. The target composite grade is ≥0.30% CuEq.
    3. Composites start and end with samples ≥0.30% CuEq.
    4. Grades between 0.20% and 0.30% are included in interval but generally constitute <40% of the interval.
    5. Consecutive samples between 0.20% and 0.30% should be fewer than 5 samples (10m).
    6. Grades below 0.20% are included but generally constitute <20% of the interval.
    7. Consecutive grades <0.2% should be fewer than 2 samples (4m).
  2. Mineral Resource (MRE) copper equivalent (CuEq%) values have been calculated using commodity type and price considering the relevant recovery rate. The following metal prices were used Cu US$4.54/lb; Mo US$22.68/lb; Au US$4,000/oz along with the following recoveries indicated from test work, Cu 89%; Mo 65% and Au 50%. The CuEq was then calculated using CuEq = [(Cu grade/100 * 0.89 Cu recovery * 2204.62 * $4.54 Cu price/lb) + (Mo ppm/1000000 * 0.65 Mo recovery * 2204.62 * $22.68 Mo price/lb) + (Au grade * 0.50 Au recovery * 4000 Au price/oz / 31.1035)] / [0.89 Cu Recovery * 2204.62 * $4.54 Cu price/lb]
  3. Partial results previously reported

Quality Assurance / Quality Control

All drill core is HQ sized at collar and reduced to NQ size in fresh rock. The core was all 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. 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 Persons

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 S.A.

Koryx Copper S.A. is a Luxembourg domiciled copper development Company focused on advancing its 100% owned Haib Copper Project in Namibia whilst also building a portfolio of copper exploration licenses in Zambia. Haib is a large copper porphyry deposit in southern Namibia with significant gold and molybdenum credits and a long history of exploration and project development by multiple operators.

More than 145,000m of drilling has been conducted at Haib since the 1970’s with significant exploration programs led by companies including Falconbridge (1964), Rio Tinto (1975), Teck (2014) and Koryx Copper (2021-2026). Extensive further drilling, metallurgical testing and various technical studies have been completed at Haib. Additional studies are underway aiming to demonstrate Haib as a future long-life, low-cost, low-risk open pit, sulphide milling and flotation copper project with additional heap leach potential.

Mineralisation at Haib is typical of a porphyry copper deposit and is dominantly chalcopyrite with minor bornite and chalcocite present and only minor secondary copper minerals at surface due to the arid environment. Haib is one of only a few examples of a Paleoproterozoic porphyry copper deposit in the world. Due to its age, the deposit has been subjected to multiple metamorphic and deformation events but still retains many of the classic mineralisation and alteration features typical of these deposits.

Further details of the Haib Copper Project are available in the technical report titled “March 2026 Mineral Resource Estimate Haib Copper Project, Namibia, National Instrument 43-101 Technical Report” dated effective March 16, 2026. The report and other information are available on the Company’s website at www.koryxcopper.com and under the Company’s profile on SEDAR+ at www.sedarplus.ca.

Additional information is also available by contacting the Company:

Julia Becker
Corporate Communications
jbecker@koryxcopper.com
+1-604-785-0850

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Statement Regarding Forward-Looking Information

This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Forward-looking information includes, without limitation, statements regarding the future or prospects of the Haib project or the Company, including prospective production rates and life-of-mine, the timing of publishing a PFS, the commencement of trading of the Shares under the new Company name, and the effective date of the new CUSIP and ISIN assigned to the Shares. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect “, “is expected “, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Forward-looking statements are necessarily based upon a number of assumptions that, while considered reasonable by management, are inherently subject to business, market, and economic risks, uncertainties, and contingencies that may cause actual results, performance, or achievements to be materially different from those expressed or implied by forward-looking statements. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, other factors may cause results not to be as anticipated, estimated, or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Other factors which could materially affect such forward-looking information are described in the risk factors in the Company’s most recent annual management discussion and analysis. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

Photos accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/7fb7fd39-fd8b-4cc2-a603-2cb38f008244
https://www.globenewswire.com/NewsRoom/AttachmentNg/909015bb-0b10-48cf-974d-1de2dc73b33e

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