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Midas Minerals Ltd (ASX:MM1)

ALERT: Price-sensitive ASX Announcement for MM1
Current share price for MM1 : $0.765 -0.27 (-26.09%)+
Announcement
Release
26 Feb 2026 9:38AM
Price at Release
$1.035
Full Release
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Summary
Midas Minerals Ltd has reported further high-grade copper and silver findings from its Spaatzu Prospect at the Otavi Copper Project in Namibia. The recent results from reverse circulation (RC) drilling include significant intercepts with grades of up to 2.39% copper and 47.8g/t silver. These findings build on previous discoveries and enhance the prospect's potential, characterized by diverse mineralization types such as structurally controlled zones and stratabound mineralization. Midas is actively drilling to expand their understanding and aims to complete a Mineral Resource Estimate for Spaatzu by late 2026. The Otavi Project, known for its geological richness in copper, lead, and zinc, is bolstered by Namibia's favorable mining conditions, including stable governance and infrastructure. Midas owns 100% of this project, continuing exploration to delineate additional resources.
Key Points
  • Further high-grade copper and silver results from Spaatzu Prospect.
  • Significant intercepts include up to 2.39% copper and 47.8g/t silver.
  • Spaatzu represents a widespread shallow copper-silver discovery.
  • Midas aims to complete a Mineral Resource Estimate for Spaatzu in late 2026.
  • The Otavi Project is situated in a geologically significant region for copper, lead, and zinc.
  • Namibia ranks high on the Investment Attractiveness Index for its mining potential.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.