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Midas Minerals Ltd (ASX:MM1)

ALERT: Price-sensitive ASX Announcement for MM1
Current share price for MM1 : $1.120 0.29 (34.94%)+
Announcement
Release
8 Jul 2026 8:23AM
Price at Release
$0.830
Full Release
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Summary
Midas Minerals Ltd reported significant high-grade copper and silver results from ongoing drilling at the T-13 Copper-Silver Deposit within the Otavi Copper Project in Namibia. The drilling, conducted both on the Main Zone and the West Zone, has identified high-grade zones with strong continuity. Notably, holes such as T13DD017 and T13DD021 showed very high-grade copper equivalent results. The company is continuing to explore these zones with an emphasis on understanding the zonation of mineralization from copper-silver rich chalcocite to chalcopyrite and pyrite, which is critical for identifying additional high-grade core zones across the 4.6km T-13 Prospect. Six drilling rigs are currently in operation, with further results pending, as Midas aims to update the Mineral Resource Estimate (MRE) by the end of 2026.
Key Points
  • Midas Minerals Ltd reported high-grade copper and silver results from the T-13 Deposit.
  • Drilling results show strong continuity of high-grade zones in both Main and West Zones.
  • Deeper drill holes revealed exceptionally strong copper and silver grades.
  • The T-13 Prospect extends over a 4.6km area, with significant exploration potential.
  • Midas is operating six rigs on the project, with more results expected soon.
  • An updated Mineral Resource Estimate for T-13 is anticipated by end 2026.
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.