Wedoany.com Report-Dec.2, Midas Minerals has started drilling at its Otavi Copper Project in Namibia following final third-party approvals for the acquisition of the 1,776 km² licence package. The exploration programme has begun ahead of expected transaction completion before the end of 2025.

The company is at the same time performing soil sampling and mapping over several copper and gold targets.

Two diamond drill rigs are now operating at the T-13 deposit, while one reverse circulation (RC) rig is active at the Spaatzu prospect (previously known as Monty). Additional targets scheduled for testing include Deblin Segen (also referred to as Driekoppies), Devon, and Hartebeesport, with timing dependent on seasonal weather conditions in Namibia.

Historical drilling at T-13 returned significant copper and silver intercepts that guide current targeting. Notable results include 17.2 m grading 7.24 % copper and 144.4 g/t silver from 125.8 m depth, 45 m at 2.43 % copper and 54.5 g/t silver from 193 m, as well as 20 m at 4.16 % copper and 13.5 g/t silver from 62.6 m combined with 16.3 m at 2.68 % copper and 78.8 g/t silver from 97.2 m. Present drilling aims to test extensions and continuity of these mineralised zones.

In parallel, Midas is conducting systematic soil sampling and geological mapping across multiple copper and gold targets within the Otavi project area. Nearly 2,000 samples have been analysed on-site using portable X-ray fluorescence (XRF) equipment as an initial screening step. Certified commercial laboratory assays have been submitted for verification, with results pending to refine future drill priorities.

At the adjacent South Otavi Project, Midas completed a first-phase programme of 140 holes totalling 3,693 metres in October 2025. All samples from this campaign have been dispatched for laboratory analysis, with results anticipated in January 2026 to inform subsequent exploration phases.

The accelerated activity across both Otavi and South Otavi projects reflects Midas Minerals’ focus on advancing its Namibian copper and gold portfolio following successful licence acquisition. The company continues to prioritise systematic, data-driven exploration to define and expand mineralised systems within the highly prospective region.