Midas Minerals extends high-grade copper and silver intercepts at Namibia’s T-13 deposit, reinforcing resource continuity ahead of a planned update later this year.
- Strong copper-silver assay results from infill drilling
- Notable intercepts include 12.1m at 8.88% CuEq and 51.4m at 2.18% CuEq
- T-13 deposit holds inferred 10.5Mt at 1.6% copper, 21g/t silver
- Six rigs active across Otavi with plans to add a seventh
- Resource updates for T-13 and Deblin expected by end-2026 and Q1 2027
High-Grade Continuity Confirmed at T-13 Deposit
Midas Minerals Ltd (ASX:MM1) has delivered another strong batch of assay results from its infill diamond drilling program at the T-13 Copper-Silver Deposit within the Otavi Copper Project in Namibia. The latest holes, including T13DD015 and T13DD019, reveal multiple thick intercepts with copper equivalent grades ranging up to 10.49% CuEq over 9.1 metres, reinforcing the deposit’s reputation for high-grade mineralisation.
Among the standout results, hole T13DD002 returned 12.1 metres at 8.88% CuEq from 108.9 metres depth, including a 9.1-metre section grading 10.49% CuEq. Meanwhile, T13DD015 yielded a broad 51.4-metre intercept at 2.18% CuEq, with several higher-grade sub-intervals peaking at 5.11% CuEq. These results continue the pattern of thick, continuous mineralisation that Midas has consistently reported at T-13, underscoring the deposit’s potential scale and grade.
Active Multi-Rig Drilling Campaign Expands Scope
The company currently operates six rigs across the Otavi Project, including two diamond rigs focused on T-13, two diamond and one RC rig at the Deblin Copper-Gold-Silver Deposit, and one RC rig at the Spaatzu prospect. A seventh rig is slated to arrive by the end of June, signalling an escalation in drilling intensity. This multi-pronged approach aims to refine existing resources and explore new targets within the 1,776 square kilometre project area.
Midas is preparing to update the Mineral Resource Estimate (MRE) for T-13 by the end of 2026, which currently stands at an inferred 10.5 million tonnes grading 1.6% copper and 21 grams per tonne silver (2.0% CuEq). This resource contains approximately 169,000 tonnes of copper and 7.1 million ounces of silver. The company also plans to release an initial MRE for the Deblin deposit in the first quarter of 2027, reflecting its growing exploration footprint.
Strategic Positioning in Namibia’s Mining Landscape
Namibia ranks as one of Africa’s most attractive mining jurisdictions, positioned fourth on the Fraser Institute’s Investment Attractiveness Index for 2024. The country’s stable democracy, transparent regulatory framework, and robust infrastructure provide a supportive environment for mining ventures. Midas’ Otavi Project benefits from these conditions, alongside a rich geological setting within the Otavi Mountain Land, known for world-class copper, lead, and zinc deposits.
With substantial historic drilling covering less than 40% of its tenure, Otavi offers significant upside potential. Midas’ ongoing exploration at regional prospects such as South Otavi, West Otavi, Korixas West, and Otjiwarongo aims to tap into this potential, supported by the company’s expanding rig fleet and resource drilling programs.
Looking Ahead to Resource Updates and Regional Exploration
The infill drilling results at T-13 provide critical data to better define the geometry and grade continuity of the deposit’s high-grade zones, which extend approximately 1.4 kilometres along strike. As Midas progresses toward its resource update, the market will be watching for how these results translate into revised tonnage and grade figures.
Meanwhile, resource drilling at Deblin and exploration at Spaatzu continue apace, with multiple rigs generating a steady flow of assay results expected through the second half of 2026. The company’s plan to test additional regional targets with reverse circulation drilling post-wet season adds another layer of potential catalysts.
Bottom Line?
Midas’ consistent high-grade drilling at T-13 sets the stage for a resource upgrade that could reshape the Otavi Project’s valuation, while ongoing exploration across multiple deposits hints at further discovery potential.
Questions in the middle?
- How will the updated T-13 Mineral Resource Estimate reflect the recent high-grade intercepts?
- What impact will the expanded rig count and ongoing drilling have on the project’s development timeline?
- Could exploration success at Deblin and other regional targets materially increase Otavi’s resource base?