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Midas Minerals Ltd (ASX:MM1)

ALERT: Price-sensitive ASX Announcement for MM1
Current share price for MM1 : $0.930 0.04 (4.49%)+
Announcement
Release
21 May 2026 9:26AM
Price at Release
$0.890
Full Release
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Summary
Midas Minerals Ltd has announced remarkable results from their recent drilling activities at the T-13 Copper-Silver Deposit within the Otavi Copper Project in Namibia. Significant assay results from six infill holes demonstrate high-grade copper and silver intercepts, including 46.2m at 4.01% CuEq and 50.6m at 7.81% CuEq. The company's operational efforts include five rigs, with plans for additional drilling capacity to further define and expand the T-13 deposit. Midas aims to update the Mineral Resource Estimate for T-13 in 2026, highlighting Namibia's conducive environment for mining due to its stable government and robust infrastructure, which supports further exploration efforts.
Key Points
  • Midas Minerals Ltd reported further significant copper and silver intercepts at T-13 Deposit.
  • Assay results were received for six infill holes on the T-13 Copper-Silver Deposit at Otavi Copper Project.
  • Significant intercepts include 46.2m at 4.01% CuEq and 50.6m at 7.81% CuEq.
  • The company operates five rigs with plans to add another at Otavi.
  • Midas plans an MRE update for T-13 in 2026.
  • Namibia is a favorable mining jurisdiction due to stable democracy and infrastructure.
  • Midas holds options to acquire interests in several projects around Otavi.
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.