Exploration Delays Loom as Midas Awaits Approvals for Newington Drilling
Midas Minerals advances six drill-ready gold targets at its Newington Project in WA, with significant historic intercepts underpinning upcoming exploration plans. Meanwhile, ongoing work at the Challa Project promises further assay results in the June quarter.
- Six drill-ready gold targets identified at Newington near historic workings
- Previous drilling at Dawsons prospect yielded high-grade intercepts up to 17.5g/t Au
- September quarter drilling planned at Newington, pending approvals
- Challa Project exploration highlights significant PGE and base metal anomalies
- Assay results from 505 soil samples at Challa expected in June quarter
Exploration Momentum Builds at Newington
Midas Minerals Limited (ASX: MM1) has reported significant progress in its exploration activities at the Newington and Challa Projects, both situated in Western Australia's prolific Goldfields region. At Newington, the company has completed detailed mapping and 3D geological modelling, focusing on gold and copper prospects that leverage historic workings and geochemical anomalies.
Six prospects at Newington have been classified as drill ready, with a further three requiring additional geochemical sampling to refine target prioritisation. Notably, previous drilling at the Dawsons prospect returned impressive high-grade gold intercepts, including 4 meters at 16.6 grams per tonne (g/t) and 2 meters at 17.5 g/t Au, underscoring the potential for economically significant mineralisation beyond historically mined zones.
Strategic Drilling Plans and Regional Context
Subject to regulatory approvals, Midas plans to commence reverse circulation (RC) drilling in the September 2025 quarter. The Newington Project's location at the northern end of the Southern Cross greenstone belt is particularly strategic, given recent successes by peers such as Golden Horse Minerals at nearby Hopes Hill. This highlights the underexplored nature of the belt and the opportunity for new discoveries.
Historic mining at the Newfield target within Newington yielded over 24,000 ounces of gold at a recovered grade of 22.7 g/t between 2001 and 2005, exceeding pre-mining resource expectations. Midas’ ongoing 3D modelling and geological work aim to delineate extensions to these deposits, including Newfield East and Dawsons, where limited prior mining has occurred despite significant drill intercepts.
Challa Project: Diverse Targets and Assays Pending
At the expansive 848 square kilometre Challa Project, Midas continues to define multiple exploration targets. Recent rock chip sampling has revealed significant platinum group element (PGE) mineralisation, with assays up to 3.38 g/t 2PGE (platinum plus palladium) from chromite horizons at Wondinong. Additionally, anomalous copper, gold, tin, and molybdenum have been identified at the Rosemary-Anne target.
The company has completed an extensive soil sampling program, collecting 505 samples analyzed via portable XRF and detectORE™ technology, with 125 samples submitted for laboratory assay confirmation. Results are anticipated in the June quarter and will guide the next phase of exploration, particularly around the 3.5-kilometre Killarney gold prospect, which borders a high-grade gold occurrence under exploration by Duketon Mining.
Robust Technical Foundation and Forward Outlook
Midas’ exploration approach is underpinned by comprehensive geological and geochemical data, including historic drilling records, rock chip assays, and modern 3D modelling. The company’s Managing Director, Mark Calderwood, emphasised the advanced status of several Newington targets and the promising nature of the Challa Project’s diverse mineralisation styles, ranging from shear-hosted gold to intrusion-related PGE and base metals.
While drilling at Newington awaits final approvals, the company’s methodical progression through mapping, sampling, and modelling sets a solid foundation for potential resource expansion. The pending assay results from Challa will be critical in refining target selection and advancing exploration in this underexplored region.
Bottom Line?
Midas Minerals is poised to unlock further value from its WA projects as drilling approaches and assay results loom, with the Southern Cross belt’s untapped potential in sharp focus.
Questions in the middle?
- Will the upcoming Newington drilling confirm extensions to high-grade gold zones beyond historic workings?
- How will the pending June quarter assays from Challa influence Midas’ exploration priorities and potential partnerships?
- What are the timelines and likelihood for regulatory approvals to commence drilling at Newington?