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- Recent Midas assays have expanded the interpreted extent of the very high-grade portion of the Main Zone.
- Results from the West Zone reveal higher-grade core not defined in earlier drilling.
- Initial MRE for the entire T-13 deposit currently stands at 10.5Mt.
- Midas currently has six rigs operating across Otavi.
Midas Minerals (ASX:MM1) is ramping up exploration activities on the back of further high-grade copper and silver results from infill drilling on the T-13 deposit at its Otavi copper project in Namibia.
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Ongoing infill drilling is providing definition to the geometry and grade continuity of the high-grade zones of the T-13 deposit. Deeper holes TD13DD017 and TD13DD021 on the Main Zone and TD13DD022 and TD13DD025 on the West Zone all showed exceptionally strong copper and silver grades.
Midas MD Mark Calderwood said understanding the apparent zonation of silver-rich chalcocite-bornite to chalcopyrite and pyrite may prove a useful exploration tool in areas where wider spaced drilling is undertaken.
“Infill drilling on the T-13 Main Zone continues to exceed expectations as the very high-grade portion exhibits strong continuity,” he said today.
“Holes 17 and 21 have strong silver-rich bornite-chalcocite mineralisation.
“In addition, the T-13 West Zone, located 500m west of the Main Zone, is returning some exciting 80m spaced infill drill hits with strong copper and silver numbers.
“Recent drilling will significantly impact on what is currently a low-grade portion of the MRE based on pre-acquisition drilling completed at 200m spacing. The West Zone only accounted for about 20% of our April 2026 MRE at a relatively low grade.
“We are seeing a pattern of zonation from chalcocite to bornite (both silver-rich) dominance within high-grade core zones grading to low silver chalcopyrite at the margins and pyrite in the periphery. This pattern may prove important as we explore for more high-grade ‘core zones’ within the broader 4.6km long T-13 prospect.”
Midas currently has six rigs operating across the Otavi project, with more assay results imminent. The T-13 prospect extends for ~4.6km, and the bulk of prior exploration by previous owners occurred on the eastern half of the prospect area.
A seventh rig is to arrive in July, while an updated mineral resource estimate (MRE) for the T-13 deposit is expected to be estimated and released by the end of CY26, followed by an initial MRE for the Deblin area in Q1 CY27.
Midas noted mining is a significant contributor to Namibia’s foreign earnings and GDP, and provides significant employment. With a long history of mining, sector skill levels are relatively high, and English is the official language.
MM1 ended up +4.22% on Wednesday, to 86.5¢. Mkt cap $200.2M.
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