Midas Minerals Ltd has defined an initial inferred mineral resource of 211,000 tonnes of copper equivalent at its T-13 deposit in Namibia’s Otavi Copper Project, based on 10.5 million tonnes grading 1.6% copper and 21g/t silver, with a high-grade core and favourable mining geometry supporting potential open-pit development.
The maiden JORC-compliant resource contains 169,000 tonnes of copper and 7.1 million ounces of silver, including a high-grade component of 4.9 million tonnes at 3.2% copper equivalent, reinforcing the project’s early-stage economic potential.
Managing director Mark Calderwood said the estimate represents a strong starting point for the Otavi project, noting that an inaugural Mineral Resource estimate for T-13 is highly encouraging, containing about 169,000 tonnes of copper and 7.1Moz of silver for 211,000 tonnes of copper equivalent, and adding that a significant portion of the metal is within a high-grade component of the Main Zone averaging 3.2% copper equivalent.
He added that infill drilling will continue to refine and define the robust nature of the high-grade zone over significant widths, which points to potential strong optionality for economic studies, while also highlighting that the current 1.4km-long T-13 trend remains an open book ready for further growth, with drilling actively progressing to deliver a more detailed dataset and first results expected in the June quarter.
The resource is reported using a 0.25% copper cut-off grade from surface to 300 metres and 0.5% below 300 metres, reflecting economic thresholds at depth, while a 1% copper cut-off has been applied to define the continuity of the high-grade Main Zone.
Mineralisation at T-13 is dominated by high-copper sulphide minerals including chalcocite, covellite, bornite and chalcopyrite, with oxide zones containing copper carbonates such as malachite, while silver occurs in close association with copper, enhancing the overall metal value of the deposit.
The mineralised system extends over a 2.2km strike length, with a high-grade zone already defined over 300 metres along strike and to a depth of 400 metres, and remains open for expansion.
The geometry of the deposit suggests that the near-surface portion could be mined using open-pit methods, while deeper sections may support underground development, although no mining dilution or ore loss factors have yet been applied, given the current inferred classification of the resource.
Midas has mobilised multiple drill rigs at T-13 to expand and upgrade the resource, with additional targets across the Otavi project, including the Spaatzu discovery and Deblin deposit, expected to contribute to further resource growth during 2026.
