Midas Minerals completes Otavi copper project acquisition in Namibia

Midas Minerals has completed the acquisition of the Otavi copper task located successful Namibia.

The transaction followed the accomplishment of cardinal conditions, including licence transfers successful August and support from the Namibian Competition Commission successful October.

In May 2025, Midas announced its intent to get the Otavi task from basal metals shaper Nexa Resources.

The task comprises 10 exclusive prospecting licences implicit 1,776 quadrate kilometres (km²) adjacent the municipality of Otavi, astir 360km northeast of Windhoek, Namibia’s capital.

Otavi hosts 2 cardinal deposits, including T13 and Deblin, that are pending assets definition, on with aggregate underexplored targets.

To date, modern exploration has been conducted implicit lone 36% of the licence area.

Drilling activities are already underway astatine the Otavi project.

Midas has deployed 2 diamond drill rigs connected the high-grade T-13 copper-silver deposit for assets drilling.

A 2nd reverse circulation (RC) rig is slated to statesman enactment successful aboriginal January 2026.

The institution besides intends to commence drilling astatine the Deblin copper-gold-silver deposit successful aboriginal 2026.

Midas managing manager Mark Calderwood said: "With the last steps of this process present achieved, we person completed our acquisition of the breathtaking and highly prospective Otavi Project successful Namibia, which is transformational for our company.

“We program to rapidly research and turn a assets basal astatine Otavi, which we person already commenced with 3 rigs successful cognition connected T-13 and Spaatzu and a 4th rig to get aft the abbreviated Christmas break. We are good funded to accelerate drilling and exploration connected Otavi and South Otavi, enabled by beardown enactment from our Shareholders.”

Midas has besides obtained the adjacent South Otavi project, located adjacent to the main Otavi country and astir 25km northbound of the Otjikoto golden mine.

At South Otavi, the institution has drilled 140 holes totalling astir 3,600 metres (m).

Preliminary assay results from this drilling run are anticipated successful January 2026.

The institution has conducted extended ungraded sampling and mapping implicit caller prospects astatine Otavi to specify targets for 2026 follow-up, complementing its ongoing intensive drilling.

Midas reported astir A$15.3m ($10.11m) successful currency successful September 2025, which is capable to money continued exploration astatine some Otavi and South Otavi into 2026.

"Midas Minerals completes Otavi copper task acquisition successful Namibia" was primitively created and published by Mining Technology, a GlobalData owned brand.

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