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    Koryx Copper Namibia assays: resource, scale and PFS takeaways for mine planners

    July 1, 2026|

    Reviewed by Tom Sullivan

    Koryx Copper Namibia assays: resource, scale and PFS takeaways for mine planners

    First reported on MINING.com

    30 Second Briefing

    Koryx Copper’s latest 15-hole, 5,351-metre infill campaign at the Haib porphyry in southern Namibia returned long, near-surface sulphide intercepts including 584 metres at 0.3% Cu with 42 ppm Mo (HM138) and 714 metres at 0.26% Cu with 101 ppm Mo (HM153), supporting resource conversion ahead of a late-2026 prefeasibility study. The March resource stands at 744 million measured and indicated tonnes at 0.28% Cu plus 579 million inferred tonnes at 0.24% Cu, with plans for a large open-pit, sulphide flotation concentrator and oxide heap leach. BMO and Red Cloud both rate the stock outperform/buy with C$6 and C$5 targets respectively, citing potential >100,000 t/y Cu-equivalent output, existing Orange River water access and a C$66 million cash position.

    Technical Brief

    • Infill drilling comprised 15 holes totalling 5,351 m, focused on upgrading inferred to indicated resources.
    • Hole HM149 intersected 428 m from surface grading 0.31% Cu, 56 ppm Mo, 0.027 g/t Au.
    • Reverse-circulation hole HMRC001 returned 243 m at 0.35% Cu, 98 ppm Mo, 0.02 g/t Au.
    • Haib is located ~700 km south of Windhoek, close to the Orange River for process-water supply.
    • March resource includes 63 ppm Mo and 0.02 g/t Au in 744 Mt measured and indicated material.
    • Inferred inventory averages 66 ppm Mo and 0.02 g/t Au over 579 Mt, supporting by-product molybdenum potential.
    • Development concept is a conventional large-scale open pit with sulphide flotation and separate oxide heap leach.
    • Management previously discovered and sold Namibia’s Twin Hills gold project for C$368 million in 2024.

    Our Take

    Haib’s large-tonnage, sub-0.3% copper grades place Koryx Copper in the same low-grade, scale-driven cohort as several other Africa-tagged copper projects in our database, meaning project viability will hinge heavily on power, acid and logistics costs rather than headline grade alone.

    With about C$66 million in cash against a C$411 million market capitalisation, Koryx is better funded at this stage than many early-stage copper names in our coverage, which could allow it to keep drilling at Haib through late this year without the kind of dilutive equity raises seen in other 2026 copper project stories.

    The reference to Osino Mining’s C$368 million sale to Shanjin International Gold in Namibia signals that international buyers are prepared to transact on sizeable gold and copper assets in the country, which may support a strategic premium for advanced projects like Haib if Koryx eventually runs a sale or JV process.

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    Prepared by collating external sources, AI-assisted tools, and Geomechanics.io’s proprietary mining database, then reviewed for technical accuracy & edited by our geotechnical team.

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