Midas Minerals Strikes High-Grade Copper-Silver at Otavi – What’s Next?
Midas Minerals has reported promising high-grade copper and silver mineralisation at its newly acquired Otavi Copper Project in Namibia, with ongoing drilling and new targets shaping a compelling exploration narrative.
- Significant copper-silver mineralisation intersected at Spaatzu Prospect
- Ongoing diamond drilling at high-grade T-13 deposit with results due February 2026
- New high-priority drill targets identified at Merwe, Segen, and Devon prospects
- Strong cash position of approximately A$8.8 million post $11.5 million placement
- Exploration activities continue at South Otavi with initial assay results received
Midas Minerals Advances Otavi Copper Project Exploration
Midas Minerals Limited (ASX, MM1) has delivered a robust update on its December 2025 quarter activities, spotlighting its recently acquired Otavi Copper Project in Namibia. The company’s initial drilling at the Spaatzu Prospect has revealed near-surface, high-grade copper and silver mineralisation, marking a significant milestone shortly after completing the project acquisition.
The standout drill hole MORC006 intercepted multiple mineralised zones, including an impressive 16 metres grading 2.55% copper and 72.6 grams per tonne silver within a broader 44-metre zone averaging 1.36% copper and 36.8 grams per tonne silver. These results, though partial assays, underscore the prospect’s potential, which extends over a 2.5-kilometre strike and lies just 12 kilometres west of the established T-13 copper-silver deposit.
Ongoing Drilling and Emerging Targets
At the T-13 deposit, Midas has completed four diamond drill holes totalling 478 metres, with two rigs currently active and core sampling underway. The company anticipates releasing initial assay results from this drilling in February 2026, which could further validate the deposit’s high-grade credentials. Historically, T-13 has delivered notable intercepts, including 17.2 metres at 7.24% copper and 144.4 grams per tonne silver, highlighting its significance within the Otavi Project.
Beyond Spaatzu and T-13, Midas has identified new high-priority drill targets at the Merwe, Segen, and Devon prospects through extensive geochemical sampling. These targets exhibit strong copper geochemistry and in situ bedrock mineralisation, positioning them as key areas for upcoming exploration, subject to seasonal weather constraints.
South Otavi and Other Projects
Exploration at the South Otavi Project, adjacent to Otavi, has also progressed with first-pass drilling completed in October 2025. Initial assays indicate weakly anomalous gold and base metals, prompting plans for deeper follow-up drilling. Meanwhile, Midas’ Australian and Canadian projects saw limited activity during the quarter, with no substantive exploration reported.
Financial Position and Corporate Developments
Financially, Midas remains well positioned with approximately A$8.8 million in cash at the end of December 2025, following the completion of an $11.5 million share placement. This capital injection supports the Otavi acquisition and accelerates exploration efforts. The company also reported payments to related parties consistent with executive and director remuneration.
Managing Director Mark Calderwood has actively engaged with investors, presenting at Resources Rising Stars events in Sydney and Melbourne, signalling confidence in the company’s strategic direction and exploration potential.
Bottom Line?
With high-grade discoveries and multiple promising targets, Midas Minerals is poised to reshape its copper-silver narrative as drilling results unfold in early 2026.
Questions in the middle?
- How will upcoming assay results from T-13 drilling influence resource estimates and project valuation?
- What impact will Namibia’s wet season have on the timing and scope of drilling at new targets?
- How effectively can Midas leverage its current cash position to sustain exploration momentum and advance project development?
