The Otavi copper, silver, and gold project, acquired by Midas Minerals from Nexa Resources, has yielded high drill-compelling results from two prospects – the T13 and Deblin.
Midas Minerals targets multiple deposits grading over 2% copper, with significant precious metal credits and favourable metallurgy.
T13 begins at the surface and has the potential to yield high-grade copper and silver concentrates.
Deblin South has chalcopyrite-bornite with silver and gold credits.
The prospects exhibit good width (+/-15m) and high grades, with the potential to define a combination of open-pit and underground resources.
There are numerous other large-scale copper and gold anomalies, and targets are present over the 1,776 km² project area.
The project, spanning 1,776 km², is located within the Otavi Fold Belt, near the world-class Tsumeb Mine and Smelter.
There is high-grade copper, silver and gold, including 17.2m at 7.24% Cu & 144.4g/t Ag from 125.84m, incl – 6m at 16.65% Cu & 370.3g/t Ag from 131m – 20m at 4.16% Cu & 13.5g/t Ag from 62.6m.
About A$20 million has been spent exploring the deposit whose mineralisation starts from the surface and remains open, with wide intercepts.
Although the project has no historical production, it is drill-ready for resource definition.
T13 walk-up high-grade discovery remains open with 17.2m @ 7.24% Cu & 144.4g/t Ag from 125.8m; 11m @ 5.18% Cu & 133.7g/t Ag from 197m; and 20m @ 4.16% Cu & 13.5g/t Ag from 63.6m plus 16.3m @ 2.68% Cu & 78.8g/t Ag from 97.2m.
At Deblin, recent wide high-grade intercepts remain open, including 15m @ 4.15% Cu, 14.6g/t Ag, and 0.22g/t Au from 449m, and 17m @ 1.72% Cu from 394m.
Numerous other drill targets are Harteestpoort: 11.2m @ 3.11% Cu, 28.4g/t Ag & 0.54g/t Au, Driekoppies: 14.7m @ 1.65% Cu, 0.4g/t Au in drilling and Sommerau with anomalies of up to 12.95% Cu, 709g/t Ag in rock chip sampling.
Midas Minerals has a comprehensive modern database for the South Otavi copper-gold project, comprising 56 km of drill core, over 17,000 soil samples, and substantial geophysical data.
Midas Minerals is actively preparing for resource and exploration drill programs with plans to start with at least three drill rigs.
The exploration team-building process has commenced, and detailed regional exploration planning is also underway.
Midas Minerals targets 2Q 2025 for preparations for drilling, with resource and exploration drilling commencing in 3Q 2025 and an initial mineral resource estimate in 1Q 2026.
