Midas Minerals Ltd has commenced its first drilling programme at the Otavi Copper Project after securing final third-party approvals for the 1,776-square-kilometre acquisition.
The company said completion of the transaction is expected before the end of 2025, with two diamond rigs now operating on the high-grade T-13 copper and silver deposit, while a reverse-circulation (RC) rig has been deployed at the Spaatzu prospect.
According to Midas, the drilling marks the start of a wider programme that will extend to the Deblin Segen, Devon and Hartebeesport prospects.
“Our plan is to utilise a rapidly deployable RC drill rig to initially test geochemical and outcrop targets at Otavi to locate any substantial bedrock mineralisation, and utilise the diamond rigs to undertake resource drilling,” said Mark Calderwood, Managing Director of Midas Minerals Ltd.
Calderwood said the onset of the December–February wet season may pose access challenges, but the company expects to keep three rigs operating throughout the period and aims to increase the number of rigs later in the first quarter of 2026.
“I look forward to news flow from Otavi’s high-grade copper–silver and copper–gold–silver prospects as we move into our accelerated drill campaign for 2026,” he said.
Earlier drilling at T-13 returned intercepts of 17.2 metres at 7.24% copper and 144.4 grams per tonne silver from 125.8 metres, and 45 metres at 2.43% copper and 54.5 grams per tonne silver from 193 metres.
Soil sampling and mapping are progressing across new target zones at Otavi. Around 2,000 samples have been processed through the company’s portable XRF facility, with commercial laboratory results pending.
Midas reported holding approximately A$15.3 million in cash at 30 September 2025, supporting upcoming phases of the programme.
Further targets at Otavi have previously produced strong intercepts, including 15 metres at 4.15% copper, 14.6 grams per tonne silver and 0.22 grams per tonne gold from 449 metres at Deblin, and 11.2 metres at 3.11% copper, 0.54 grams per tonne gold and 28.4 grams per tonne silver from 26 metres at Hartebeesport.
Drilling at the Deblin copper–gold–silver deposit is scheduled to begin in early 2026, subject to access conditions.
At the South Otavi Project, the company completed a 140-hole programme totalling 3,693 metres in October. Samples from gold and copper targets have been sent for commercial laboratory analysis, with initial results expected in January 2026.
