Midas Minerals is looking to increase the number of drill rigs operating at its Otavi Copper-Silver-Gold Project in Namibia as the company expands exploration, resource drilling and target testing across the growing copper district.
The Australian-listed explorer currently has five drill rigs deployed across the project area and said it is considering adding one or two additional rigs as it exits the wet season and builds its drilling pipeline.
The increased drilling activity comes as Midas continues to advance multiple targets, including T-13, Spaatzu, Deblin, Deblin South, Segen, Hartbeespoort and Devon, across its 1,776-square-kilometre Otavi project area in northern Namibia.
The company said that less than 40% of the project area has been explored, despite numerous copper-silver-gold targets and extensive historical exploration work.
Midas described the project as having exceptional exploration upside supported by shallow, high-grade and wide copper-silver-gold mineralisation across multiple deposits.
Historic drilling across the project previously returned intersections including 17 metres grading 7.24% copper and 144.4 grams per tonne silver, as well as 45 metres grading 2.43% copper and 54.9 grams per tonne silver.
The company’s current resource focus remains centred on the T-13 deposit, where an initial inferred mineral resource estimate of 10.5 million tonnes grading 1.6% copper and 21 grams per tonne silver has already been established.
The resource contains an estimated 169,000 tonnes of copper and 7.1 million ounces of silver for a copper equivalent grade of 2.0%.
Midas said about 70% of the contained metal occurs within 300 metres of surface, highlighting the shallow nature and potential economic advantages of the deposit.
Two diamond drill rigs remain active at T-13, where infill and extensional drilling is underway targeting shallow high-grade mineralisation, resource definition and depth extensions.
Recent drilling results from T-13 included 50 metres grading 7.9% copper equivalent from 194 metres depth in hole T13DD005a, including 16.3 metres grading 19.81% copper equivalent from 214.7 metres.
Another drill hole, T13DD007, intersected 43.2 metres grading 2.90% copper equivalent from 218.6 metres and an additional 12.8 metres grading 2.87% copper equivalent from 267.3 metres.
The company said the latest drilling results demonstrate strong potential for a resource upgrade targeted for the first quarter of 2027.
At the Spaatzu discovery, where one reverse circulation rig remains active, recent drilling intersected 44 metres grading 1.36% copper and 36.8 grams per tonne silver, including 16 metres grading 2.55% copper and 73 grams per tonne silver.
Midas said significant drilling results from Spaatzu have continued during 2026.
The company has also commenced drilling at the Deblin and Deblin South targets using one reverse circulation rig and one diamond rig.
Historical drilling across the Deblin trend previously returned intersections including 15 metres grading 4.15% copper, 14.6 grams per tonne silver and 0.22 grams per tonne gold across a strike extent of about 1.1 kilometres.
Additional reverse circulation drilling is planned during the third quarter of 2026 at the Segen, Hartbeespoort and Devon prospects.
At Segen, historical drilling intersected 12.5 metres grading 3.64% copper at the end of the hole within a large soil anomaly zone.
Hartbeespoort hosts a four-kilometre copper-gold soil anomaly where limited historical drilling intersected 11.2 metres grading 3.11% copper, 28.4 grams per tonne silver and 0.54 grams per tonne gold near surface.
Midas Minerals said the growing number of drill targets, ongoing discoveries and expanding rig fleet position the Otavi project as a potential multi-deposit copper-silver-gold district within one of Africa’s more established mining jurisdictions.
