Haib Project Economics Improve as Stripping Ratio Halves to 0.92x
Koryx Copper announced on March 25, 2026, a substantial upgrade to the Mineral Resource Estimate (MRE) for its Haib Copper Project in Namibia, signaling significantly improved economic viability. The most critical operational metric, the stripping ratio, was reduced to 0.92x from 1.74x. This near-halving of the waste-to-ore ratio directly lowers projected mining costs and boosts the project's financial outlook.
The updated assessment increased the total contained copper inventory to 3.5 million tonnes, up from 2.6 million tonnes. A key driver for the improved resource was the inclusion of byproducts, adding an indicated resource of 487,900 ounces of gold and 103.6 million pounds of molybdenum. This diversification of metals raised the high-grade portion's copper equivalent (CuEq) grade to 0.40% from a previous 0.34%, making the ore more valuable.
Mine Life Now Seen Exceeding 35 Years as New Drilling Begins
The combination of a larger resource and richer grades is expected to extend the Haib project's operational life from its current 24-year estimate to more than 35 years. The company is accelerating development, with 14 drill rigs being mobilized to complete an additional 50,000 meters of drilling by mid-2026. This new data will underpin a Pre-Feasibility Study (PFS) scheduled for release in the fourth quarter of 2026.
The combination of the (i) improved Cu grade in the high grade zones, (ii) establishment of Au and Mo indicated and inferred resources, (iii) reduced expected strip ratio, (iv) increased life-of-mine and (v) potential additional grade increase from mineral ore sorting, are expected to deliver a step-change improvement in overall project economics.
— Heye Daun, President & CEO.
Concurrent with the resource update, Koryx announced it has received approval to change its name to Koryx Copper S.A. and re-domicile from British Columbia to Luxembourg. The company's shares are expected to begin trading under the new name on or about March 27, 2026, while retaining the ticker symbol KRY on the TSX-V.
