Australian-listed Midas Minerals has extended copper and silver mineralisation at its Spaatzu deposit in Namibia’s Otavi region to at least 1.5 kilometres, with new drilling intersecting grades of up to 2.39% copper and 61.8 grams per tonne (g/t) silver as the company works towards its first mineral resource estimate in early 2027.
The latest drilling returned wide, shallow copper intersections, including 51 metres grading 0.82% copper and 19.5g/t silver from a depth of 80 metres in drill hole SPRC101. Within that intersection, drilling identified 11 metres grading 1.52% copper and 37.7g/t silver from 105 metres, including a separate six-metre interval grading 2.39% copper and 61.8g/t silver from 125 metres.
Another drill hole, SPRC102, intersected 22 metres grading 1.34% copper and 36.8g/t silver from 88 metres. This included two metres grading 2.10% copper and 49g/t silver from 95 metres, as well as 10 metres grading 1.82% copper, 53.6g/t silver and 424 parts per million molybdenum from 99 metres.
The results strengthen Midas’ plans to establish Spaatzu as a potential large-scale, open-pit copper and silver deposit, located approximately 10.5 kilometres west of its high-grade T-13 copper and silver deposit.
Since announcing the south-eastern extension in August 2026, Midas has completed 25 reverse circulation drill holes, with assay results received for six holes and results from another 19 still pending.
The company has confirmed mineralisation along 500 metres of the south-eastern extension, with the outstanding assays covering a further 240 metres of strike. Drilling continues on sections spaced approximately 80 metres apart, and the mineralised zone remains open to the south-east.
The wider Spaatzu prospect comprises a four-kilometre-long zone of soil geochemical and induced polarisation anomalies, although drilling has so far tested only 1.5 kilometres of strike.
Midas managing director Mark Calderwood said the latest results demonstrated the potential for a shallow copper and silver mining operation.
“The south-east extension at Spaatzu continues to deliver wide intercepts of medium to high-grade copper silver, molybdenum and lead mineralisation ideal for low strip ratio open-pit mining. Spaatzu is located only 10.5km west of Otavi’s T-13 deposit.”
The company believes the width and shallow depth of the mineralisation could support a bulk-tonnage open-pit operation, although no mineral resource estimate or economic assessment has yet been completed for Spaatzu.
Copper mineralisation within the south-eastern extension is dominated by chalcocite, with smaller quantities of malachite occurring in shallow intervals. Silver accompanies the copper mineralisation, with Midas reporting an average relationship of approximately 27g/t silver for every 1% copper.
The company attributes the continuity of mineralisation to the geological setting, where relatively thick, gently dipping rock formations have allowed copper-bearing material to extend across a broad area.
Mineralisation occurs mainly within the Ombombo sandstone and siltstone formations and the overlying Chuos diamictite, with additional copper identified in basement rocks and the Nabis sandstone.
The mineralised corridor follows a north-west to south-east fault structure crossing the Merwe Dome, while copper has also spread laterally into favourable surrounding rock formations.
An important development is that the south-eastern extension was discovered beneath shallow transported cover in an area where conventional soil sampling had provided limited indications of the underlying mineralisation.
Calderwood said the full extent of the discovery remained unknown.
“The exciting aspect is that we don’t yet know the limits of mineralisation with no prior drilling undertaken within 9km of Spaatzu and we now know that soil sampling is of limited value, with the deposit essentially blind under shallow transported cover.”
This has prompted Midas to broaden its exploration programme beyond the known Spaatzu mineralisation, with shallow geochemical reverse circulation drilling planned across additional targets within the Merwe Dome.
The geological structure extends for more than 60 kilometres and hosts both Spaatzu and T-13, providing the company with a wider area for investigating potential copper and silver mineralisation.
“In addition to ongoing step-out drilling at Spaatzu, the Company is about to commence shallow geochemical RC drilling of targets over a wide area of the +60km-long Merwe dome which hosts the Spaatzu and T-13 deposits”.
Midas has also completed a ground gravity survey covering Spaatzu and T-13, with preliminary results expected to assist in identifying additional drilling targets once the data has been processed.
The company intends to expand the survey in the coming months as it investigates other prospective areas within its Otavi exploration licences.
Alongside drilling, Midas has started preliminary metallurgical testing of Spaatzu mineralisation in Perth, Australia, to assess how copper and associated metals could be recovered during processing.
Six diamond core holes have been completed to provide material for further metallurgical testing, with the cores awaiting sampling.
The results will help the company evaluate suitable processing methods and provide technical information for future development studies.
Spaatzu forms part of Midas’ 1,776-square-kilometre Otavi Copper Project, which also includes the T-13 and Deblin deposits.
The company expects to complete initial mineral resource estimates for Spaatzu and Deblin during the first quarter of 2027, alongside an updated resource estimate for T-13.
The existing T-13 resource estimate is based on drilling completed before Midas acquired the project, while the planned update will take account of more recent exploration work.
T-13 has emerged as a high-grade copper and silver target within the company’s Namibian portfolio, while Spaatzu offers the possibility of a larger, shallower deposit that could provide a different mining opportunity within the same project area.
The proximity of the deposits could become important in future development planning, although Midas has not announced a combined mining operation or shared processing facility.
For now, the company’s immediate priorities are to complete the outstanding assays, continue extending Spaatzu to the south-east, undertake metallurgical testing and prepare the mineral resource estimates scheduled for early 2027.
The pending results from 19 additional drill holes will be particularly important in determining whether the confirmed 500-metre south-eastern extension continues over the further 240 metres already drilled.
With mineralisation established over at least 1.5 kilometres and much of the wider four-kilometre anomaly still awaiting drilling, Spaatzu remains an expanding exploration target rather than a defined mining operation.
