Midas Minerals Ltd has reported a new high-grade copper and silver discovery at its Spaatzu Prospect within the Otavi Copper Project in Namibia, according to results released by the company.
Initial drilling from hole MORC006 intersected multiple mineralised zones, including 16 metres grading 2.55% copper and 72.6 g/t silver within a broader 44-metre interval grading 1.36% copper and 36.8 g/t silver, from 23 metres below surface, Midas said.
The company said the Spaatzu Prospect is located about 12 kilometres west of the high-grade T-13 deposit and extends over a strike length of approximately 2.5 kilometres. It added that the area shows evidence of cross-faulting and intense brecciation, which supports its exploration potential. Midas noted that only part of MORC006 has been assayed, with additional samples and results from other drill holes still pending.
“I am highly encouraged by the early copper and silver results from Spaatzu, given the large size of the surface geochemical anomaly and the favourable geological and structural setting on the northern flank of the Merwe dome,” said Midas managing director Mark Calderwood.
Midas said it is currently operating three drill rigs across the Otavi Copper Project, with a fourth rig expected to commence drilling in January. The drilling programme is focused on Spaatzu, Merwe and other regional targets.
The company said it remains well funded to support the accelerated exploration programme, with cash of about US$9 million at the end of 2025 following the Otavi acquisition.
“Spaatzu is only 12 kilometres from T-13, and we now have three areas advancing to resource drilling, with numerous other early-stage targets to progress in 2026,” Calderwood said.
Midas said the Otavi Copper Project is among Namibia’s more prospective exploration areas, noting that modern drilling has covered less than 40% of the project area to date.
