Midas Minerals (ASX:MM1) reports further ‘high-grade’ copper intercepts from its Deblin deposit in Namibia.
Resource drilling is accelerating ahead of a maiden mineral resource estimate (MRE) due in Q1 2027. The company intersected 10.9m @ 5.1% copper (Cu) from 362.5m in hole DBDD002, including 5.7m @ 8.85% Cu from 365.4m.
Additional results include 12m @ 1.65% Cu from 162m in DBRC015 and 8.3m @ 1.81% Cu from 373.8m in DBDD003.
DBDD002 sits about 70m up dip from DBDD001, which previously delivered 35.6m @ 3.35% Cu from 367m. The DBRC015 intercept extends a further 285m up dip.
Managing Director Mark Calderwood says drilling shows an extensive mineralised area near the contact between volcanics and dolomite.
“Drilling at Deblin is showing an extensive area near the contact between volcanics and dolomite to be mineralised over a width of plus or minus 10m, with sub-zones showing wider intercepts and higher grades,” Calderwood adds.
Mineralisation extends for at least 1,000m of strike and 500m down dip, with wide-spaced drilling defining multiple higher-grade sub-zones. Intercepts are generally plus or minus 90% of true width.
Midas operates two diamond rigs at Deblin, with a third expected within a month. The company has seven rigs across the Otavi Project and plans to increase to nine.
“The plan is to increase to three core rigs operating at Deblin, to systematically drill out the target corridor which remains open at depth and underexplored along strike,” Calderwood notes.
The Deblin deposit sits 18km south-east of Otavi town, 25km west-southwest of the Kombat copper mine, and 70km east-south-east of Midas’ T-13 deposit.
Midas Minerals expects a strong flow of results through H2 2026 from resource drilling on the T-13, Deblin, and Spaatzu deposits, alongside exploration drilling on additional prospects.
The company targets an updated MRE for T-13 and maiden MREs for Deblin and Spaatzu in Q1 2027.
Write to JC Villarba at Mining.com.au
Images: Midas Minerals
