Midas Minerals Ltd. has announced significant findings from its Hartbeespoort prospect in Namibia. On 9 November 2026, the company reported a promising four-metre intersection grading 9.83% copper. This development is part of the company’s ongoing exploration efforts within the Otavi Copper Project.
The initial reverse circulation drilling at Hartbeespoort, located five kilometers southeast of the Deblin deposit, has revealed shallow copper, gold, and silver mineralization.
Key findings:
- Drill Hole HBRC005: The highest-grade interval was 14 meters grading 3.86% copper and 7.5 grams of silver per tonne from a depth of 60 meters. This included a particularly high-grade four meters grading 9.83% copper and 15.5 grams of silver per tonne.
- Drill Hole HBRC008: Showed seven meters grading 2.37% copper and 8.0 grams of silver per tonne from 24 meters. Within this interval, three meters graded 4.66% copper, 0.14 grams of gold per tonne, and 9.3 grams of silver per tonne.
- Drill Hole HBRC003: Returned three meters grading 2.73% copper, 1.50 grams of gold per tonne, and 23.0 grams of silver per tonne from 35 meters.
Midas has completed 47 reverse circulation holes totaling 3,427 meters at Hartbeespoort, with assay results pending for 39 of these holes.
Geological context and future plans
Managing Director Mark Calderwood highlighted that the drilling was intended to investigate mineralization identified through previous surface mapping and soil sampling. The geological characteristics of Hartbeespoort are similar to the nearby Deblin deposit, with both prospects near the contact between Ombombo Group sediments and Askevold volcanic rocks.
Hartbeespoort was initially identified as a prospective copper area in the early 1970s. Previous drilling by Nexa showed promising results, supporting Midas’ ongoing efforts. The company plans additional drilling to explore the geometry of the shallow oxide-transition mineralization and deeper sulphide targets.
Midas also reported encouraging results from its Spaatzu deposit. Recent drilling has extended the known mineralized system to over 1.6 kilometers along strike.
Notable results:
- Drill Hole SPRC112: Included 15 meters grading 1.20% copper and 69.9 grams of silver per tonne from 73 meters. This encompassed four meters grading 2.54% copper and 173.8 grams of silver per tonne.
- Drill Hole SPRC109: Returned 15 meters grading 0.97% copper and 30.3 grams of silver per tonne from 43 meters, with five meters grading 1.74% copper and 54.8 grams of silver per tonne.
Drilling at Spaatzu has confirmed mineralization along 600 meters of the southeastern extension, with assays pending for another 300 meters.
Midas is operating eight drilling rigs across its 1,776-square-kilometer Otavi project, including three diamond drilling rigs at Deblin and two at T-13. The company aims to complete an updated mineral resource estimate for T-13 and initiate estimates for Deblin and Spaatzu in early 2027.
While Hartbeespoort is not included in the immediate resource estimates, Midas plans follow-up drilling as resources become available. The company’s financial position remains strong, with A$22.7 million in cash as of 30 September 2026.
Midas Minerals’ latest drilling results at Hartbeespoort and Spaatzu highlight significant potential for high-grade copper, gold, and silver mineralization. Continued exploration and analysis are necessary to fully understand the extent and continuity of these resources, which could contribute to future mining operations in Namibia.
