InvestSMART

Midas Minerals Ltd (ASX:MM1)

ALERT: Price-sensitive ASX Announcement for MM1
Current share price for MM1 : $1.315 0.215 (19.55%)+
Announcement
Release
17 Aug 2026 9:09AM
Price at Release
$1.100
Full Release
download
Summary
Midas Minerals Ltd has reported promising drill results from its Spaatzu Prospect at the Otavi Copper Project in Namibia, showcasing significant copper-silver mineralisation along a 4km zone. The recent drilling has successfully extended the mineralisation zone to 1.2km, revealing strong potential for resource development. The south-eastern extension of Spaatzu, a blind discovery, demonstrated consistent high-grade copper and silver mineralisation. Midas is actively continuing its exploration and resource drilling endeavors, expecting initial resource estimates by Q1 2027. The company is well-funded to support these activities, with ongoing efforts to expand its drilling operations.
Key Points
  • Midas Minerals Ltd announced significant copper-silver drill intercepts at the Spaatzu Prospect within the Otavi Copper Project in Namibia.
  • The Spaatzu Prospect features a 4km long zone of anomalous mineralisation, partially drill-tested over a 1.2km strike.
  • Recent RC drilling in the south-eastern extension intersected high-grade copper and silver mineralisation.
  • The mineralisation at Spaatzu is consistent and closely follows the geology, showing potential for substantial resource development.
  • Midas plans to continue exploration and resource drilling at Spaatzu with multiple rigs deployed.
  • The company anticipates initial resource estimates for Spaatzu and nearby prospects in Q1 2027.
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.