Midas Minerals has extended confirmed mineralisation at its Spaatzu copper-silver deposit in Namibia to 1.5 kilometres, with broad shallow intercepts continuing to emerge from step-out drilling. Assays from another 19 holes are pending ahead of a planned initial resource estimate in the first quarter of 2027.
- 51m at 0.81% copper and 19.5g/t silver from 80m
- 22m at 1.34% copper and 36.8g/t silver from 88m
- Confirmed south-eastern mineralisation now spans 500m
- Assays pending for 19 holes across a further 240m of strike
- Initial Spaatzu resource estimate targeted for Q1 2027
Spaatzu reaches 1.5km of mineralised strike
Midas Minerals Ltd (ASX:MM1) has pushed the known footprint of its Spaatzu copper-silver system in Namibia to at least 1.5 kilometres of strike, with the latest drilling extending the south-eastern zone and leaving it open in that direction. The company has confirmed mineralisation across 500 metres of the south-eastern extension, while assays from another 19 holes cover a further 240 metres.
The strongest new result was 51 metres at 0.81% copper and 19.5 grams per tonne silver from 80 metres in hole SPRC101, including 11 metres at 1.52% copper and 37.7g/t silver, and six metres at 2.39% copper and 61.8g/t silver. SPRC102 returned 22 metres at 1.34% copper and 36.8g/t silver from 88 metres, including 10 metres at 1.82% copper, 53.6g/t silver and 424 parts per million molybdenum.
The results extend a run of exploration that had already taken Spaatzu from 1.2km of confirmed strike to the current footprint. The latest campaign follows the August Spaatzu drilling results, which reported broad copper-silver intercepts and identified a much larger anomalous corridor than the drilled area.
Shallow mineralisation remains a resource target
Midas describes Spaatzu as a shallow, bulk-tonnage copper-silver resource target that begins at surface, rather than as an established Mineral Resource. The deposit lies 10.5 kilometres west of the company’s T-13 copper-silver deposit, where an updated resource is also planned, and forms part of Midas’ 1,776-square-kilometre Otavi Project.
The company says the south-eastern mineralisation is dominated by chalcocite with subordinate malachite and occurs across gently dipping, relatively thick host horizons. Mineralisation is associated with a fault structure through the Merwe Dome, while additional stratabound mineralisation appears to have dispersed laterally through permeable and reducing rock units. Midas also says soil sampling has limited effectiveness at Spaatzu because the system is largely concealed beneath shallow transported cover.
Reported intercepts are down-hole lengths, not necessarily true widths. Midas interprets recent true widths at roughly 70% to 80% of the intercept lengths for SPRC100 to SPRC103, and about 95% for SPRC099. That distinction will matter as drilling density increases and the company tests whether the apparent continuity can support a coherent resource model.
Metallurgy and resource estimate set the next tests
Since August, Midas has completed 25 reverse-circulation holes at Spaatzu, with results available for six. Step-out drilling is continuing on sections spaced about 80 metres apart, while six metallurgical core holes have been completed and await sampling. Sighter metallurgical test work is already under way in Perth.
Midas is targeting an initial Mineral Resource Estimate for Spaatzu in the first quarter of calendar 2027, alongside a maiden estimate for Deblin and an updated estimate for T-13. A recently completed ground gravity survey over Spaatzu and T-13 is also expected to help define additional drill targets once processing is complete. The immediate question is whether the pending assays convert an expanding exploration footprint into the continuity, grade distribution and recoveries required for a meaningful resource.
Bottom Line?
The footprint is expanding, but Spaatzu remains an unclassified resource target until pending assays, metallurgy and the Q1 2027 estimate establish its scale and quality.
Questions in the middle?
- Will the 19 pending holes confirm that mineralisation continues consistently through the additional 240 metres of strike?
- How will copper, silver, molybdenum and lead grades behave as drilling moves farther from the current corridor?
- Can metallurgical test work demonstrate recoveries and processing characteristics suitable for the proposed shallow open-pit concept?