Midas Minerals Ltd expects initial drill results from its ongoing diamond drilling programme at the T-13 deposit in Namibia during the June quarter of 2026 as exploration activity ramps up at the Otavi Copper Project.
The company said two diamond rigs are currently operating at the T-13 site as part of a broader multi-rig campaign aimed at expanding and upgrading its existing resource base.
Midas Minerals Ltd previously reported an initial inferred Mineral Resource Estimate of 10.5 million tonnes at 1.6% copper and 21g/t silver, containing 169,000 tonnes of copper and 7.1 million ounces of silver. This equates to 2.0% copper equivalent, or 211,000 tonnes of contained copper equivalent.
Within that total, the higher-grade Main Zone accounts for 4.9 million tonnes at 3.2% copper equivalent, containing 153,000 tonnes of copper equivalent at a 1% copper cut-off grade.
The company said the current resource estimate is based on pre-acquisition drilling data, with an updated Mineral Resource Estimate for T-13 expected later this year following the completion of ongoing drilling.
“Midas Minerals Ltd currently has two diamond rigs operating at T-13, with first drill results from this programme expected in the June quarter of 2026,” the company said.
During the March 2026 quarter, the company completed 13 diamond drill holes covering 3,358 metres at T-13, alongside 93 reverse circulation holes totalling 11,353 metres across the Spaatz and Merwe prospects.
Midas Minerals Ltd also reported continued expansion of its high-grade copper-silver discovery at the Spaatz prospect, with new intercepts extending mineralisation by about 300 metres west of the initial discovery hole.
Key drill intercepts included 26 metres at 1.37% copper and 31.1g/t silver, as well as 56 metres at 0.57% copper, 13.9g/t silver and 1.12% lead.
Additional results included 18 metres at 1.10% copper and 26.5g/t silver, and 13 metres at 1.77% copper and 39.5g/t silver, signalling continued mineralisation across the prospect area.
The company said exploration remains focused on defining additional resources across the Otavi project area, with further geochemical sampling and mapping programmes scheduled to begin in the June quarter across newly acquired licences.
Midas Minerals Ltd also raised US$28 million through a share placement during the quarter to fund ongoing exploration and development activities in Namibia.
