Midas uncovers standout copper zone as Deblin resource drilling gathers pace
Midas Minerals has returned a high-grade 10.9-metre copper intercept at its Deblin deposit in Namibia, including 5.7 metres at 8.85% copper. The results strengthen the case for continued resource drilling, although Deblin has yet to receive a mineral resource estimate.
- 10.9m at 5.10% Cu, including 5.7m at 8.85% Cu
- Mineralisation traced across at least 1km of strike and 500m down dip
- Eight core and 12 RC holes have assays pending
- Seven rigs active at Otavi, with plans to reach nine
- Deblin maiden resource targeted for Q1 CY2027
A 5.7-metre zone grading 8.85% copper has emerged as the sharpest result yet from Midas Minerals Limited (ASX:MM1) at the Deblin deposit in Namibia, giving the junior explorer another strong data point as it works towards a maiden resource. The interval sits within 10.9 metres at 5.10% copper from 362.5 metres in diamond hole DBDD002.
The result is accompanied by several broader, lower-grade intersections. Reverse-circulation hole DBRC015 returned 12 metres at 1.65% copper from 162 metres, including 8 metres at 2.18%, while DBDD003 produced 8.3 metres at 1.81% copper from 373.8 metres, including 6 metres at 2.21%. DBRC001 added 9 metres at 1.67% copper from 257 metres, including 5 metres at 2.45%.
Deblin Drilling Defines a Broad Mineralised Corridor
DBDD002 is positioned about 70 metres up dip from DBDD001, which previously intersected two substantial zones: 35.6 metres at 3.35% copper from 367 metres and 17.7 metres at 3.21% copper from 429.1 metres. DBRC015 lies a further 285 metres up dip, helping Midas outline mineralisation across a wider section of the deposit rather than a single isolated hit.
The company says the main Deblin target corridor extends for at least 1 kilometre of strike and 500 metres vertically, with higher-grade subzones defined by relatively wide-spaced drilling. The reported intersections are down-hole lengths; Midas estimates several are between 80% and 98% of true width, but the exact geometry remains subject to further interpretation.
Resource Drilling Accelerates Across Otavi
Two diamond rigs are currently drilling at Deblin, with a third expected within a month. Across the wider Otavi project, Midas has seven rigs operating and plans to increase that number to nine, with the company expecting a steady flow of assays through the second half of 2026. Eight core holes and 12 RC holes remain pending at Deblin.
The exploration push is supported by A$29.2 million in cash at 30 June 2026. Midas is drilling three deposits for resource purposes and has targeted an updated estimate for T-13, alongside maiden estimates for Deblin and Spaatzu, in the first quarter of calendar 2027. Those estimates will be the next meaningful test of whether the encouraging intercepts can be converted into a coherent mineral inventory; for now, Deblin remains an exploration success rather than a defined resource.
Bottom Line?
The next assays matter because they must show continuity across Deblin’s high-grade corridor, not merely add another standout intercept, before the Q1 CY2027 resource target can carry much weight.
Questions in the middle?
- Will pending core and RC assays confirm continuity between Deblin’s higher-grade subzones?
- How much of the reported corridor can be converted into a maiden mineral resource?
- Can Midas maintain its accelerated nine-rig programme through the planned Q1 CY2027 estimates?
