Midas Minerals is targeting three Mineral Resource Estimates at its Otavi Copper-Silver-Gold Project in Namibia in the first quarter of 2027 after drilling across T-13, Deblin and Spaatzu returned broad, high-grade copper and silver intersections.
The Australian-listed explorer said in its Africa Down Under 2026 presentation released on Friday that it plans to update the existing T-13 resource and deliver maiden Mineral Resource Estimates for Deblin and Spaatzu.
The programme could take Otavi from one deposit with a defined resource to three by early next year, while Midas also plans to step up drilling on other deposits across its more than 3,000 square kilometre Namibian landholding.
T-13 currently has an Inferred Mineral Resource Estimate containing 211,000 tonnes of copper equivalent, announced in April 2025.
Previous drilling at the deposit has returned 50.6 metres at 5.25% copper and 135.3 grams per tonne silver, as well as 46.2 metres at 2.55% copper and 77g/t silver.
Midas said it is not aware of any new information or data that materially affects the existing T-13 resource and that the assumptions and technical parameters underpinning the estimate continue to apply.
The company is now targeting an updated T-13 resource in the first quarter of 2027.
The planned maiden resource at Deblin follows drilling that has produced significant copper intersections and could add a second defined deposit to the Otavi inventory.
Results highlighted by Midas include 35.6m at 3.35% copper, while another intersection returned 17.7m at 3.21% copper and 11.3g/t silver.
Unlike T-13, the mineralisation at Deblin is not yet included in a Mineral Resource Estimate.
The planned first-quarter estimate will provide the first indication of how much of the mineralisation identified through drilling at Deblin can be incorporated into a formal JORC resource.
That is significant for the wider Otavi project because Midas is moving beyond reliance on T-13 as its only defined mineral inventory.
Spaatzu provides the third leg of that strategy and has returned some of the broadest copper-silver intersections highlighted in the presentation.
Drilling has produced 44m at 1.36% copper and 36.8g/t silver, while another interval returned 20m at 1.83% copper and 63.4g/t silver.
A further intersection recorded 29m at 1.47% copper and 37g/t silver.
Midas plans to deliver a maiden Mineral Resource Estimate for Spaatzu during the same first-quarter period targeted for Deblin and the T-13 update.
The three deposits are at different stages of resource definition, but the results highlighted in the presentation show copper mineralisation extending beyond the existing T-13 resource.
T-13 has produced the highest copper grade among the major intersections highlighted, while Deblin has returned broad intervals above 3% copper and Spaatzu has combined broad copper intersections with significant silver grades.
The strategy marks an important shift in how Midas is positioning Otavi.
The project already has 211,000 tonnes of contained copper equivalent at T-13, but Deblin and Spaatzu currently contribute nothing to that formal resource figure despite the drilling results recorded at both deposits.
Delivering maiden resources at the two deposits would allow Midas to begin quantifying their contribution to the wider project and provide a clearer indication of Otavi’s overall mineral inventory.
The company is also not limiting its exploration programme to the three deposits.
Midas said it intends to step up drilling at other deposits within the project area while completing the work required for the T-13, Deblin and Spaatzu resource estimates.
Its Otavi landholding extends over more than 3,000 km², providing a considerably larger exploration footprint around the deposits currently being advanced.
The next major measure of progress will therefore come in the first quarter of 2027, when Midas expects to have an updated resource at T-13 and maiden estimates at Deblin and Spaatzu.
The results will determine how much the project’s defined mineral inventory has grown beyond the existing 211,000 tonnes of copper equivalent and whether the high-grade intersections being reported across multiple deposits translate into a substantially larger Otavi resource base.
