Midas Minerals (ASX:MM1) has intersected two wide zones of copper sulphide mineralisation in the first hole assayed from its Deblin Copper–Gold–Silver Deposit at the Otavi Copper Project in Namibia.
Hole DBDD001 returned 35.6m @ 3.35% copper (Cu), 6.1 grams per tonne silver (Ag), and 0.19g/t gold (Au) from 367m, followed by 17.7m @ 3.21% Cu, 11.3g/t Ag, and 0.09g/t Au from 429.1m.
The first interval included 9.3m at 0.65g/t gold and 16.6g/t silver from 386.3m. True widths are yet to be determined.
The results confirm visual copper mineralisation reported from the hole in June.
Managing Director Mark Calderwood says DBDD001 is one of the best holes Midas has drilled at Otavi to date.
“What strikes me is the consistency and tenor of copper mineralisation over the two substantial intervals of 35.6m and 17.7m, respectively,” Calderwood says.
“The geological setting is very impressive based on the width of favourable lithological units and the intensity of alteration and deformation.”
Midas drilled DBDD001 between two holes completed 200m apart by previous owner Nexa Resources (NYSE:NEXA). Those holes returned 15m @ 4.15% Cu, 14.6g/t Ag, and 0.22g/t Au, and 17m @ 1.72% Cu.
The company says the new intercepts occur within the Askevold meta-volcanic schist, where copper is hosted as chalcopyrite and bornite alongside late-stage calcite veining.
Midas has since completed another nine core holes and 28 reverse circulation (RC) holes at Deblin. Known mineralisation extends across at least 1,000m of strike and 500m vertically, and remains open at depth and underexplored along strike.
Three rigs are operating at Deblin, with the company saying it plans to add another core rig and move the RC rig to nearby regional prospects. Results from holes DBDD002 and DBDD003 are expected within weeks.
Across Otavi, seven rigs are undertaking resource and exploration drilling, with another two expected this quarter. Midas is targeting an updated mineral resource estimate for T-13 and initial estimates for Deblin and Spaatzu in early 2027.
The T-13 deposit has an inferred mineral resource of 10.5 million tonnes @ 1.6% Cu and 21g/t Ag.
Write to France Pinzon at Mining.com.au
Images: Midas Minerals
