Midas Minerals Hits Strong Visible Copper Zones in First Deblin Drilling
Midas Minerals’ initial diamond drilling at the Deblin deposit within Namibia’s Otavi Copper Project reveals two wide zones of visible copper sulphides, underscoring the project’s exploration potential ahead of assay results expected in September 2026.
- DBDD001 intercepts 37m and 20m zones of visible copper sulphides
- Holes DBDD002 and DBDD003 also show significant copper mineralisation
- Six rigs active at Otavi with a seventh due by end of June
- Updated T-13 resource estimate due end-2026; Deblin MRE expected Q1 2027
- Otavi located in stable, mining-friendly Namibia with strong infrastructure
First Drilling at Deblin Reveals Promising Copper Mineralisation
Midas Minerals Ltd (ASX:MM1) has delivered an encouraging start to its maiden diamond drilling campaign at the Deblin Copper-Gold-Silver Deposit within the Otavi Copper Project in Namibia. The company’s first hole, DBDD001, intercepted two substantial intervals of strong visible copper sulphide mineralisation, measuring 37 metres and 20 metres respectively. The mineralisation includes chalcopyrite and bornite, visually assessed as moderate to high-grade copper sulphides.
Additional drill holes, DBDD002 and DBDD003, also encountered significant copper mineralisation comprising chalcopyrite, bornite, and chalcocite over intervals ranging from 30 to 50 metres. While these observations are based on visual estimates and not yet confirmed by assay, they suggest a robust copper system within the Deblin corridor.
Drilling Campaign Accelerates with Multiple Rigs
Midas is currently operating six rigs across the Otavi Project, with a seventh rig expected by the end of June, reflecting an aggressive exploration pace. Within the Deblin corridor alone, two diamond core rigs and one reverse circulation rig are active, targeting systematic drilling over a 1.1-kilometre mineralised trend that extends from surface in the northwest to the southeast.
The company plans to accelerate drilling to delineate the extent and continuity of mineralisation, with Managing Director Mark Calderwood highlighting the unexpectedly strong visual results from the first hole as a positive indicator of Deblin’s resource potential. Assay results from the initial three holes are anticipated in the September quarter of 2026, which will provide critical data to validate the visual findings.
Resource Estimates and Project Outlook
Midas is targeting an updated Mineral Resource Estimate (MRE) for the nearby T-13 deposit by the end of 2026, building on previous inferred resources of 10.5 million tonnes grading 1.6% copper and 21 grams per tonne silver. An initial MRE for Deblin is expected in the first quarter of 2027, contingent on forthcoming assay results and further drilling.
The Otavi Project’s location in Namibia offers a supportive mining jurisdiction, ranked fourth on the Fraser Institute’s 2024 Investment Attractiveness Index for Africa. Namibia’s stable democracy, transparent mineral tenure system, and strong infrastructure underpin the project’s development prospects.
Next Steps and Exploration Pipeline
Beyond Deblin, Midas plans to test multiple untested targets across the Otavi tenure during the second half of 2026, leveraging its expanding rig fleet. The company’s strategy aims to convert exploration success into defined resources, positioning Otavi as a significant copper project in a region with a long mining history and established industry players.
While visual mineralisation provides an encouraging early signal, the market will be keenly awaiting laboratory assay results to quantify grades and refine resource models. The true width of mineralised intercepts remains undetermined, adding a layer of uncertainty that assays and further drilling will help resolve.
Bottom Line?
Midas’ initial Deblin drilling delivers promising visible copper zones, setting the stage for assay results that will be pivotal in defining resource potential and guiding next-phase exploration.
Questions in the middle?
- Will September assay results confirm the visual copper grades and impact resource estimates?
- How will Midas balance drilling intensity across Deblin and other Otavi targets with its expanding rig fleet?
- What are the implications of Deblin’s mineralisation style for mining methods and project economics?
