Midas Minerals has reported significant copper and silver discoveries at the Spaatzu Prospect, part of its Otavi Copper Project in Namibia.
Drilling has revealed notable results, including an intercept of 26m at 1.37% copper and 31.1 grams per tonne (g/t) silver from 45m in drill-hole MORC010.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
This section included a 6m segment with 2.39% copper and 42.7g/t silver from 47m, and an 11m segment with 1.62% copper and 43.6g/t silver from 59m.
Drill-hole MORC012 showed a 56m interval at 0.57% copper, 13.9g/t silver and 1.12% lead starting at 4m, featuring a 5m section at 1.52% copper and 47.8g/t silver from 38m and a further 4m segment at 1.79% copper and 27.8g/t silver from 48m.
Moreover, drill-hole MORC013 recorded an intercept of 18m at 1.10% copper and 26.5g/t silver, beginning from a depth of 70m.
These findings come after a recent intercept from drill-hole MORC006, which recorded 44m at 1.36% copper and 36.8g/t silver, starting from a depth of 23m. This included a segment of 16m at 2.55% copper and 72.6g/t silver from 49m.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataTo date, Midas has completed 56 reverse circulation (RC) drill-holes spanning 6,039m along a 1km strike at Spaatzu, and is awaiting results for more than 40 holes.
Located just 12km west of the T-13 copper-silver deposit, where resource drilling is under way using two diamond rigs, Spaatzu is characterised by a significant surface geochemical anomaly extending more than 2.5km by up to 0.6km.
Exploratory drilling continues both at Spaatzu and the nearby Merwe Prospects, adding to the understanding of the complex geological make-up of the region.
The main host for the discovered mineralisation is believed to be the Neoproterozoic Ombombo Subgroup transitional sediments, equivalent to well-known formations in Zambia’s Copperbelt.
Midas is operating multiple rigs across its prospects to advance resource estimates. An initial mineral resource estimate (MRE) for T-13 is anticipated within the current quarter, with a report for Spaatzu expected later in 2026.
Midas managing director Mark Calderwood said: “The Spaatzu Prospect represents a significant shallow copper-silver discovery by the team. Mineralisation appears to be widespread and exhibits higher-grade structurally controlled zones and lower-grade stratabound mineralisation styles. We continue to gain an understanding of the geology of Spaatzu with RC drilling ongoing.
“We will work to complete an MRE for Spaatzu in late 2026 to complement the initial T-13 MRE expected to be reported this quarter.”
Last December, Midas completed the acquisition of the Otavi copper project.
