Midas Minerals Ltd has reported further high-grade copper and silver assay results from reverse circulation (RC) drilling at the Spaatzu Prospect within its Otavi Copper Project in Namibia, with grades of up to 2.39% copper and 47.8g/t silver.
Managing Director Mark Calderwood said the results were returned from RC drill holes MORC010, MORC012 and MORC013, following the company’s earlier copper-silver discovery from hole MORC006 announced in January 2026.
“The Spaatzu Prospect represents a significant shallow copper-silver discovery by the team. Mineralisation appears to be widespread and exhibits both higher-grade structurally controlled zones and lower-grade stratabound mineralisation styles,” Calderwood said.
The Spaatzu surface geochemical anomaly extends approximately 2.5km in length and up to 0.6km in width along the northern flank of the Merwe Dome. Copper mineralisation is dominated by malachite, chalcocite and chalcopyrite.
Midas currently has two diamond core drilling rigs operating at the high-grade T-13 copper-silver deposit at Otavi, one RC rig at Spaatzu located 12km west of T-13, and another RC rig at the Merwe Prospect, situated 5km northeast of T-13.
The results released this week represent the remaining assays from RC holes drilled at Spaatzu in December, while assay results are still pending for more than 40 additional holes drilled since the company resumed drilling in 2026.
“We continue to improve our understanding of the geology at Spaatzu with RC drilling ongoing. We aim to complete a Mineral Resource Estimate for Spaatzu in late 2026 to complement the initial T-13 MRE expected this quarter,” Calderwood said.
Preliminary geological interpretation indicates that mineralisation is primarily hosted within the Neoproterozoic Ombombo Subgroup transitional sediments, equivalent to the Lower Roan Formation of Zambia’s Copperbelt and the Chuos diamictite, which also hosts the T-13 deposit located 12km to the east.
The company said mineralisation may be controlled by both structural features and stratabound horizons, with further drilling required to determine the full extent of the mineralised system.
Midas added that the silver-to-copper ratio at Spaatzu averages around 25g/t silver per 1% copper, which it described as relatively high for the district.
