Midas Minerals (ASX: MM1) Extends High-Grade T-13 Copper-Silver Zone

Midas Minerals has extended the high-grade copper-silver mineralisation at its T-13 deposit in Namibia, with a standout drill result exceeding the company’s expectations and leaving the zone open to the west.

Hole T13DD034 intersected 22.6 metres at 6.01% copper equivalent from 347.5 metres, comprising 4.67% copper and 70.9 grams per tonne silver. That interval included 10 metres at 11.55% copper equivalent, with grades of 8.83% copper and 143.7 grams per tonne silver.

A second hole, T13DD030, returned a broader 33.2 metres at 2.51% copper equivalent from 310.3 metres. The result included 23.6 metres at 3.11% copper equivalent.

The intersections were recorded at about 300 metres vertical depth around the margins of the high-grade portion of T-13’s Main Zone. Midas said the result from T13DD034 was stronger than anticipated and extended the mineralisation westward, where it remains open.

The reported lengths are downhole intersections. Midas estimates the true width of T13DD034 at between 90% and 95% of the reported interval, while T13DD030 is estimated at 80% to 85%.

Resource update is the next test

The results matter because Midas is completing infill drilling ahead of an updated mineral resource estimate for T-13 in the first quarter of 2027. The current inferred resource was calculated solely from drilling completed before Midas acquired the project, meaning the company’s subsequent drilling has not yet been incorporated.

That existing estimate stands at 10.5 million tonnes grading 1.6% copper and 21 grams per tonne silver. It contains an estimated 169,000 tonnes of copper and 7.1 million ounces of silver, or 211,000 tonnes on a copper-equivalent basis at a grade of 2.0%.

Managing Director Mark Calderwood said: “Infill drilling on the T-13 Main Zone continues to exceed expectations as the high-grade portion of the deposit exhibits stronger continuity than initially anticipated.”

Midas has completed more than 15,000 metres of core drilling at Otavi since December 2025. Assays remain pending for 16 holes, providing further data before the planned resource update.

The company is also targeting initial mineral resource estimates for the Deblin and Spaatzu deposits in the first quarter of 2027. Both sit within the wider 1,776-square-kilometre Otavi project, which Midas owns outright.

Seven rigs are operating across Otavi, with an eighth expected to arrive during the week of the announcement. Midas expects the expanded fleet to support resource drilling and exploration across the project, while further drilling of T-13’s West Zone is planned after infill work on the Main Zone is completed.