Midas Minerals has extended confirmed copper-silver mineralisation at its Spaatzu deposit in Namibia to 1.5 kilometres of strike following new drilling at its Otavi project.
The Australian-listed explorer said drilling had confirmed a further 500-metre extension to the south-east, with results including an intercept of 51 metres at 0.82% copper and 19.5 grams per tonne (g/t) silver from a depth of 80 metres.
The intercept, recorded in hole SPRC101, included a higher-grade section of six metres at 2.39% copper and 61.8g/t silver.
Another hole, SPRC102, returned 22 metres at 1.34% copper and 36.8g/t silver from 88 metres.
Midas Managing Director Mark Calderwood said the latest drilling continued to intersect broad zones of copper-silver mineralisation alongside molybdenum and lead.
“The south-east extension at Spaatzu continues to deliver wide intercepts of medium to high-grade copper silver, molybdenum and lead mineralisation ideal for low strip ratio open-pit mining,” Calderwood said.
Midas has completed 25 reverse circulation drill holes at Spaatzu since August, with assay results received for six holes.
Results remain outstanding for 19 holes covering a further 240 metres of strike, potentially providing the company with additional information on the scale and continuity of the mineralised system.
The Spaatzu deposit is located about 10.5 kilometres west of Midas’ T-13 copper-silver deposit and remains open to the south-east.
Calderwood said the limits of the mineralisation have not yet been established, with Spaatzu located beneath shallow transported cover in an area that had not previously been drilled within nine kilometres of the deposit.
The company has also started metallurgical test work in Perth, Australia, as it advances technical studies on the project.
Midas expects to release initial mineral resource estimates for Spaatzu and Deblin, together with an updated resource estimate for T-13, during the first quarter of 2027.
