Midas Minerals Ltd (MM1) has reported a successful expansion of its copper-silver mineralised corridor at the Otavi project in Namibia. New reverse circulation drilling results from the Spaatzu prospect confirm that mineralisation now extends at least 800 metres along strike. This latest data, which includes assays from hole SPRC062, confirms significant copper and silver intercepts 300 metres west of the original discovery hole, validating the project’s growth potential beyond initial estimates.

Drill highlights from the current program include 52 metres at 1.19% Cu, 8.7g/t Ag, and 1.93% Pb from a depth of 148 metres. Other notable results demonstrate the system's consistency, such as 33 metres at 0.76% Cu and 17.8g/t Ag from 18 metres depth in hole SPRC045. In addition to copper and silver, recent diamond drilling re-assays have identified broad high-grade manganese, with one intersection returning 97.8 metres at 17.6% Mn.

"We've identified that the Cu-Ag-Pb-Mo-Mn mineralised corridor at Spaatzu now extends for at least 800m strike. 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 2km strike."

— Mark Calderwood, Managing Director

The company is currently operating six drill rigs across its Namibian portfolio to delineate these targets. At the Spaatzu prospect, the focus has shifted toward understanding local structural controls through core drilling, while reverse circulation rigs continue to test induced polarisation targets across a two-kilometre strike zone. This systematic approach aims to better define the relationship between the identified high-grade structures and broader stratabound mineralisation within the Ombombo Subgroup.

Beyond Spaatzu, Midas is advancing several other early-stage prospects. At the South Otavi Project, shallow drilling has successfully defined a zone of gold and pathfinder mineralisation spanning 3.9 kilometres of strike. The company intends to follow up on these results with additional drilling later in 2026. Simultaneously, initial exploration at the Khorixas West Project has yielded high-grade surface samples, with rock chip assays returning values up to 30.8% copper, 4.26g/t gold, and 149g/t silver. Soil sampling results from this project are anticipated during the September quarter.

The upcoming months will remain active for the explorer as it scales its regional efforts. In addition to the planned work at South Otavi, Midas expects to commence drilling at the Hartbeespoort Prospect during the September quarter. This move follows extensive soil sampling programs completed in May and June, which were processed using the company's on-site detection facilities. These combined efforts across multiple prospects reflect the company's commitment to systematically testing its significant landholding in the region throughout the remainder of the year.

Read the full announcement: High-Grade Copper-Silver Extension Confirmed at Spaatzu