Midas Minerals has significantly strengthened the exploration case for its Otavi Copper Project after the latest drilling confirmed that high-grade copper and silver mineralisation at the Spaatzu prospect extends for at least 800 metres, with geophysical targets now spanning a two-kilometre strike length that remains largely untested.
The results represent another important step in the company’s efforts to establish a sizeable copper system in Namibia’s Otavi Fold Belt, with the latest reverse-circulation drilling extending mineralisation approximately 300 metres west of the original discovery hole, MORC006, and confirming that the mineralised corridor continues to grow.
The standout intercept came from drill hole SPRC062, which returned 52 metres grading 1.19% copper, 8.7 grams per tonne silver and 1.93% lead from 148 metres, including a higher-grade interval of 30 metres at 1.87% copper and 12.7g/t silver from 152 metres. Additional strong results included 33 metres at 0.76% copper, 17.8g/t silver, 1.69% lead and 117ppm molybdenum from 18 metres in SPRC045, 16 metres at 0.76% copper, 26.8g/t silver, 2.36% lead and 215ppm molybdenum from 205 metres in SPRC063, and 11 metres at 1.15% copper and 31g/t silver from 26 metres in SPRC046.
Beyond the copper-silver mineralisation, Midas also reported extensive manganese mineralisation following the re-assaying of historical diamond drilling and recent reverse circulation holes. A historical Nexa drill hole returned 97.8 metres grading 17.6% manganese and 0.11% copper, including 16.6 metres at 35.3% manganese and 7.5 metres at 31.8% manganese. In comparison, recent shallow drilling intersected 8 metres at 33.9% manganese, 6 metres at 29.4% manganese, and 10 metres at 23.9% manganese from the surface.
The latest drilling confirms that Spaatzu hosts a multi-metal system containing copper, silver, lead, molybdenum and manganese, with mineralisation remaining open along strike. According to the company, induced polarisation surveys have already identified exploration targets extending over two kilometres. At the same time, diamond drilling has commenced to better understand the geological controls that concentrate the higher-grade mineralisation.
Managing Director Mark Calderwood said the latest drilling had materially expanded the scale of the discovery.
“We’ve identified that the Cu-Ag-Pb-Mo-Mn mineralised corridor at Spaatzu now extends for at least 800 metres. Core drilling has commenced and this should provide an understanding of structural controls at the local scale. RC drilling is continuing to test shallower IP targets, which have been identified over 2 kilometres of strike,” he said.
Geological interpretation indicates that the copper-silver mineralisation is hosted along a west-northwest-trending fault, with higher-grade mineralisation concentrated where those structures intersect favourable rock units within the Ombombo Subgroup, the Namibian equivalent of Zambia’s prolific Lower Roan Formation. The company believes the system exhibits both structurally controlled high-grade mineralisation and broader stratabound copper-lead mineralisation, suggesting further drilling could substantially increase the known extent of the discovery.
While Spaatzu remains the company’s flagship target, Midas also reported encouraging progress elsewhere across its Namibian portfolio. At the South Otavi Project, wide-spaced reconnaissance drilling outlined a 3.9-kilometre gold and pathfinder anomaly, with follow-up drilling planned later this year. At the same time, the Khorixas West Project returned rock-chip assays grading up to 30.8% copper, 4.26g/t gold and 149g/t silver, highlighting the broader prospectivity of the company’s exploration ground.
Midas now has six drill rigs operating across its Otavi projects, with further assay results expected as the company continues testing what is becoming one of Namibia’s most active copper exploration programmes. The company controls 100% of the 1,776 km² Otavi Project. It holds options to earn interests in the South Otavi, West Otavi, Khorixas West and Otjiwarongo projects, giving it exposure to more than 3,260 km² of prospective exploration ground across northern Namibia. Earlier this year, Midas also declared an initial Inferred Mineral Resource of 10.5 million tonnes grading 1.6% copper and 21g/t silver at its T-13 deposit, providing the company with both an established resource base and a growing pipeline of discoveries.
