How Is Drilling Growing the High-Grade Copper-Silver Zone at the T-13 Deposit in the Otavi Copper Project for Midas Minerals (ASX:MM1)?

Sonal Goyal

09 October 2026 12:12 AM AEDT

How Is Drilling Growing the High-Grade Copper-Silver Zone at the T-13 Deposit in the Otavi Copper Project for Midas Minerals (ASX:MM1)?

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Infill drilling at high-grade copper deposits tests continuity ahead of resource updates. Midas Minerals Ltd (ASX:MM1) reported new results from T-13 at its Otavi Copper Project in Namibia on 6 October 2026.

Company overview

Midas Minerals Ltd (ASX:MM1) is a West Perth company advancing the Otavi Copper Project in Namibia, a 1,776 square kilometre land package including the T-13 copper-silver deposit and the Deblin and Spaatzu deposits.

T-13 results

Hole T13DD034 returned 22.6 metres at 6.01% copper equivalent (4.67% copper and 70.9 g/t silver) from 347.5 metres, including 10.0 metres at 11.55% CuEq. T13DD030 returned 33.2 metres at 2.51% CuEq from 310.3 metres. Mineralisation in T13DD034 remains open to the west.

Resource and drilling program

The initial T-13 resource is 10.5 million tonnes at 1.6% copper and 21 g/t silver for 169,000 tonnes of copper and 7.1 million ounces of silver, based on pre-acquisition drilling only. An updated T-13 estimate and initial estimates for Deblin and Spaatzu are on track for Q1 CY2027. Midas has drilled more than 15,000 metres since December 2025, with results pending for 16 holes, and has seven rigs on site with an eighth arriving.

Context of the drilling program

Midas operates seven drill rigs across the Otavi project with an eighth arriving the same week, and the company said drilling momentum is expected to increase. It has priority targets to follow up across the 1,776 square kilometre land package, in addition to the T-13, Deblin and Spaatzu deposits, with Deblin 70 kilometres east-south-east of T-13 and Spaatzu 11 kilometres from it.

Holes were drilled at the margins of the high-grade zone of the Main Zone to define geometry and grade continuity, which supports resource modelling.

Drilling context and earlier holes

Holes T13DD030 and T13DD034 were drilled from about 300 metres vertical depth, highlighting potential in the deeper portions of the deposit. Hole T13DD034 is similar in metal content to earlier holes, including T13DD017 (27.1 metres at 3.98% CuEq) and T13DD021 (30.1 metres at 5.35% CuEq), and the zone remains open to the west. Mineralisation is described as silver-rich chalcocite and bornite.

Since December 2025, Midas has completed more than 15,000 metres of core drilling, with results pending for 16 holes.

Resource pathway

The initial T-13 resource stands at 10.5 million tonnes at 1.6% copper and 21 g/t silver, equal to 2.0% CuEq for 211,000 tonnes of copper equivalent, and includes only drilling completed before Midas’s acquisition. Midas plans to complete infill drilling over a large portion of the deposit before the Q1 CY2027 update, and has priority targets elsewhere across the 1,776 square kilometre project area.

Sector backdrop

Namibia’s Otavi region hosts copper and base metal deposits, and resource growth depends on drilling and metallurgy.

Namibia’s Otavi Mountainland has a long history of copper, lead and zinc mining, and sediment-hosted copper-silver deposits can show high grades in narrow zones. Infill drilling is used to confirm continuity before classification.

Copper equivalent values combine copper and silver using assumed prices and recoveries, so the individual grades should be read alongside them.

Namibia’s Otavi region has produced copper, lead and zinc historically, and companies exploring there use diamond drilling to define high-grade zones before preparing resource estimates. Copper equivalent grades in the release combine copper and silver, so shareholders can compare the stated copper and silver values separately.

Risks shareholders should weigh

Intercepts are individual holes, and the initial resource excludes Midas drilling. Updated estimates may differ.

Sixteen holes await assays.

Namibian operations and copper prices affect outcomes.

Individual intercepts do not determine resource size, and the updated estimate could differ from the initial resource.

Rig count and results timing depend on logistics and laboratory turnaround in Namibia.

What’s next

Midas expects resource updates in Q1 CY2027. Shareholders may wish to watch for pending results.

Shareholders may wish to watch for assays from the 16 pending holes and the Q1 CY2027 resource updates.

FAQs

Q: What was the best intercept?

A:22.6 metres at 6.01% CuEq, including 10.0 metres at 11.55% CuEq.

Q: What is the current T-13 resource?

A:10.5 million tonnes at 1.6% copper and 21 g/t silver.

Q: When is the next resource update?

A:Q1 CY2027.

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