Midas Minerals Ltd has declared a maiden JORC Inferred Mineral Resource of 10.5 million tonnes at 1.6% copper and 21g/t silver at the T-13 Copper-Silver Deposit in Namibia, containing 169,000 tonnes of copper and 7.1 million ounces of silver, or 2.0% copper equivalent for 211,000 tonnes of contained copper equivalent.
The maiden estimate marks the first formal resource estimate for the company’s Otavi Copper-Silver Project and provides Midas with an initial development base in one of Namibia’s most prospective historical base metals districts.
The estimate was compiled from drilling completed by previous owner Nexa Resources between 2016 and 2022, with Midas’ own drilling results still to be incorporated in a planned update later this year.
The resource includes a Main Zone containing 6.6 million tonnes at 2.0% copper and 29.9g/t silver for 130,000 tonnes of contained copper and 6.33 million ounces of silver.
Within that sits a higher-grade core of 4.9 million tonnes at 2.44% copper and 37.9g/t silver at a 1% copper cut-off. A further T-13 West zone adds 3.9 million tonnes at 0.99% copper and 6.6g/t silver for another 39,000 tonnes of contained copper.
Midas is currently drilling with two diamond rigs at T-13, with first assay results from its own campaign expected during the June quarter.
At nearby Spaatzu, two reverse circulation rigs are also operating as the company advances a second copper-silver discovery about 12 kilometres west of T-13.
Recent Spaatzu drilling returned multiple high-grade intervals, including 26 metres at 1.37% copper and 31.1g/t silver, 18 metres at 1.10% copper and 26.5g/t silver, and 13 metres at 1.77% copper and 39.5g/t silver, including 5 metres at 3.42% copper and 81g/t silver.
Results from 34 additional holes drilled in 2026 are still pending.
Beyond its core Otavi holdings, Midas is also widening its Namibian exploration platform through new earn-in deals.
The company has entered an option to acquire up to 85% of EPL8634 at West Otavi, up to 85% of EPL5818 and application 9230 at Korixas West, and 85% of EPL8646 plus application 10218 at Otjiwarongo.
West Otavi covers 653 square kilometres west of Otavi town and is considered prospective for greenfield copper-silver discoveries.
Korixas West spans 282 square kilometres and includes the historical Naauwpoort copper workings. At the same time, the Otjiwarongo ground lies along strike from B2Gold Corp.’s Otjikoto gold mine and is viewed as prospective for orogenic and intrusion-related gold mineralisation.
