Midas Minerals Returns 14m at 3.86% Copper from Initial Drilling at Hartbeespoort Prospect, Namibia

Anjali Anand

09 November 2026 03:33 PM AEDT

Midas Minerals Returns 14m at 3.86% Copper from Initial Drilling at Hartbeespoort Prospect, Namibia

Image Source: Krish Capital Pty Ltd

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Midas Minerals (ASX:MM1) has reported initial drilling results from the Hartbeespoort prospect at its Otavi Copper Project in Namibia, with the first eight RC holes returning high-grade copper, gold and silver intercepts including 14m at 3.86% Cu and 7.5g/t Ag from 60m in hole HBRC005, along with further results from the Spaatzu deposit's south-eastern extension.

Key Points

First eight RC holes at the Hartbeespoort prospect returned intercepts including 14m at 3.86% Cu, 7.5g/t Ag from 60m (HBRC005), with a 4m interval grading 9.83% Cu and 15.5g/t Ag from 61m
Midas has drilled 47 RC holes totalling 3,427m at the 3km-long Hartbeespoort prospect, with assays pending for 39 holes and further results expected in Q4 CY2026
Spaatzu deposit step-out drilling confirmed continuous mineralisation over 600m of strike, with assays pending for a further 300m; overall Spaatzu extends for at least 1.6km of strike
Updated MRE for T-13 and initial MREs for Deblin and Spaatzu are on track for delivery in Q1 CY2027
Midas held a cash balance of $22.7 million as at 30 September 2026, with eight rigs operating across the Otavi project

Hartbeespoort Prospect Initial Drilling Results

Midas completed first-pass drilling at the Hartbeespoort prospect, located 5km south-east of the Deblin deposit, with a total of 47 RC holes for 3,427m drilled. Results have been received for the first eight holes. Key intercepts include 14m at 3.86% Cu and 7.5g/t Ag from 60m in HBRC005, containing 4m at 9.83% Cu and 15.5g/t Ag from 61m; 7m at 2.37% Cu and 8.0g/t Ag from 24m in HBRC008, including 3m at 4.66% Cu, 0.14g/t Au and 9.3g/t Ag from 28m; 3m at 2.73% Cu, 1.50g/t Au and 23.0g/t Ag from 35m in HBRC003; and 6m at 1.33% Cu, 0.35g/t Au and 5.5g/t Ag from 34m in HBRC001. Assays for the remaining 39 holes are pending, with further results expected through Q4 CY2026.

Spaatzu Deposit South-Eastern Extension Step-Out Drilling

Drilling at the south-eastern extension of the Spaatzu deposit has returned assay results for 15 RC holes. Notable intercepts include 15m at 1.20% Cu and 69.9g/t Ag from 73m in SPRC112, containing 4m at 2.54% Cu and 173.8g/t Ag from 83m; 15m at 0.97% Cu and 30.3g/t Ag from 43m in SPRC109; 12m at 1.13% Cu and 32.8g/t Ag from 45m in SPRC106; and 6m at 1.85% Cu and 62.2g/t Ag from 61m in SPRC111, including 3m at 3.21% Cu and 109.3g/t Ag from 63m. Assays are pending for a further 17 RC holes. The south-eastern extension has confirmed continuous mineralisation over 600m of strike, with the mineralised system remaining open to the east and south. The overall Spaatzu deposit now extends for a strike exceeding 1.6km, located 10.5km from the T-13 deposit.

Mineral Resource Estimates and Project Drilling Status

Resource drilling is continuing at the Otavi project with three diamond drill rigs operating at the Deblin deposit and two diamond drill rigs at the T-13 deposit. An updated Mineral Resource Estimate for T-13 and initial MREs for both Deblin and Spaatzu are on track for delivery in Q1 CY2027. Eight rigs in total are currently operating across the Otavi project. Midas reported a cash balance of $22.7 million as at 30 September 2026. The company said further drilling at Hartbeespoort will be undertaken to assess the geometry of near-surface oxide-transition mineralisation and deeper sulphide targets identified through the initial program.

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