Midas Minerals (ASX:MM1) has reported ‘high-grade’ copper-silver intercepts from the south-eastern extension of its Spaatzu prospect at the Otavi Copper Project in Namibia.
Recent reverse circulation drilling returned multiple intercepts including 41m @ 1.13% copper (Cu) and 33.4 grams per tonne silver (Ag) from 19m in hole SPRC094, incorporating 20m @ 1.83% Cu and 63.4g/t Ag from 39m.
Additional results include 37m @ 1.11% Cu and 29.7g/t Ag from 73m in SPRC093, featuring 10m @ 1.51% Cu and 47g/t Ag from 74m, and 5m @ 1.97% Cu and 52.8g/t Ag from 98m.
Hole SPRC097 delivered 29m @ 1.47% Cu and 37g/t Ag from 86m, including 8m @ 2.74% Cu and 71.9g/t Ag from 102m.
The drill-tested mineralisation zone at Spaatzu now extends for at least 1,200m of strike length, with the overall prospect covering 4km of anomalous strike. The prospect sits 10.5km west of the T-13 Copper-Silver Deposit.
Managing Director Mark Calderwood says the recent results and revised geological interpretation have increased understanding of the mineralised corridor’s potential.
“Our recent drilling results and revised geological interpretation at Spaatzu have significantly increased our understanding of the potential of this mineralised corridor which potentially extends for 4km and has been successfully drill tested over 1.2km, demonstrating strong zones of mineralisation,” Calderwood adds.
“The copper-silver mineralisation in the south-eastern extension is more consistent than that encountered to the north-west, highlighting the significant resource potential. Recent intercepts are close to true width within a gentle dipping/plunging zone of mineralisation.”
Blind discovery points to larger mineralised system
The south-eastern extension represents a blind discovery by Midas, targeted through re-interpretation of the geological and structural setting. Copper mineralisation is dominated by chalcocite, explaining the ‘high’ silver content.
Mineralisation is hosted within the brecciated hanging wall of a northwest-southeast trending fault, with ‘higher-grade’ copper-silver mineralisation localised where brecciation intersects chemically reducing units.
The company operates seven rigs at Otavi, with plans to increase to nine. Meanwhile, two rigs continue drilling at Spaatzu with further results pending.
Midas expects to complete initial mineral resource estimates for Spaatzu and Deblin, along with an updated T-13 resource, in Q1 2027.
The Otavi Project comprises 10 exclusive prospecting licences totalling 1,776km2 in Namibia. Midas announced an initial inferred mineral resource at T-13 of 10.5 million tonnes @ 1.60% Cu and 21g/t Ag in April 2026.
Midas Minerals is a West Perth-based exploration company advancing a portfolio of copper, precious metals, and lithium projects across Namibia, Western Australia, and Canada.
Write to JC Villarba at Mining.com.au
Images: Midas Minerals
