Midas Minerals Ltd has received initial assay results from the first diamond drill hole completed at the Deblin Copper-Gold-Silver Deposit within the Otavi Copper Project in Namibia, returning two wide intervals of high-grade copper sulphide mineralisation.

Drill hole DBDD001 intersected 35.6 metres at 3.35% copper, 6.1 grams per tonne silver and 0.19 grams per tonne gold from 367 metres depth, alongside a deeper intercept of 17.7 metres at 3.21% copper, 11.3 grams per tonne silver and 0.09 grams per tonne gold from 429.1 metres. The upper intersection includes a 9.3-metre zone averaging 0.65 grams per tonne gold and 16.6 grams per tonne silver within the broader copper envelope. Sub-intervals within DBDD001 also returned individual grades reaching up to 1.98 grams per tonne gold, 42 grams per tonne silver and 1,720 parts per million molybdenum.

The assays confirm earlier visual logging from the hole, which previously recorded a 37-metre mineralised interval starting from the same depth of 367 metres. Midas drilled DBDD001 between 200-metre-spaced holes previously completed by Nexa Resources.

Copper at Deblin predominantly occurs as chalcopyrite within calcite-enriched Ombombo dolomite, and as chalcopyrite and bornite within underlying heavily sheared schist of the Askevold formation. This meta-volcanic unit has undergone greenschist metamorphism and heavy carbonate infiltration from fluids rich in carbon dioxide, hydrogen sulphide, calcium and copper, while containing remarkably low levels of lead, zinc and arsenic.

The company has now completed an additional nine core holes and 28 reverse circulation holes across the Deblin footprint, which extends for at least 1,000 metres of strike and 500 metres vertically, remaining open at depth and underexplored along strike.

Assay results for diamond drill holes DBDD002 and DBDD003 are anticipated during the third quarter of calendar year 2026. Midas currently operates seven rigs across the Otavi project and plans to increase that total to nine rigs. An additional diamond drill rig is scheduled to arrive in August to support expanding core drilling at Deblin, while the project's reverse circulation rig transitions to test nearby regional prospects.

Midas is working toward delivering an updated mineral resource estimate for the T-13 deposit alongside initial resource estimates for Deblin and Spaatzu early next year.

Read the full announcement: Midas intersects wide, high-grade copper at Deblin