Midas Minerals Accelerates Namibia Copper Ambitions with Otavi Acquisition
Midas Minerals has completed its acquisition of the Otavi Copper Project in Namibia, initiating multiple drilling programs across high-grade deposits and securing strong funding to drive exploration in 2026.
- Acquisition of Otavi Copper Project finalized with all licenses and approvals secured
- Drilling underway at T-13 and Spaatzu prospects; Deblin drilling planned for early 2026
- Strong cash position of approximately $15.3 million to support aggressive exploration
- South Otavi Project exploration also progressing with initial drilling results expected soon
- Project area remains underexplored, offering significant upside potential
Completion of a Transformational Acquisition
Midas Minerals has officially completed the acquisition of the Otavi Copper Project in Namibia, marking a significant milestone for the junior explorer. The deal, which was first announced in May 2025, has now secured all necessary licence transfers and regulatory approvals, including clearance from the Namibian Competition Commission. This acquisition adds a highly prospective 1,776 square kilometre tenure to Midas’ portfolio, positioning the company to become a notable player in copper exploration.
Immediate Drilling Activity Underway
Exploration momentum is already building, with three drill rigs currently active. Two diamond rigs are focused on resource definition at the high-grade T-13 copper-silver deposit, while a reverse circulation rig is testing the Spaatzu prospect. Plans are in place to deploy a fourth rig in early January 2026, and drilling at the Deblin copper-gold-silver deposit is scheduled to commence shortly thereafter. These efforts reflect Midas’ commitment to rapidly expanding the resource base and unlocking value from the project.
Strong Financial Position Fuels Ambition
Backing these exploration activities is a robust cash position, with approximately $15.3 million available as of September 30, 2025. This financial strength provides Midas with the flexibility to accelerate drilling programs and pursue additional targets within the Otavi project area, which remains significantly underexplored with only about 36% having seen modern exploration. The company’s Managing Director, Mark Calderwood, highlighted the transformational nature of the acquisition and the strong shareholder support enabling this aggressive approach.
Expanding Footprint with South Otavi Project
Complementing the Otavi Copper Project is the adjacent South Otavi Project, where Midas holds an option to acquire an 80% interest. Exploration has already begun here, with 140 holes drilled covering approximately 3,600 metres. Initial results from this program are anticipated in January 2026, potentially adding further momentum to Midas’ Namibian copper ambitions. The proximity to the Otjikoto gold mine adds strategic value to this exploration ground.
Outlook and Potential
With high-grade historic intercepts such as 17.2 metres at 7.24% copper and 144.4 grams per tonne silver, the Otavi project offers compelling exploration upside. The combination of ongoing drilling, extensive soil sampling, and mapping across new targets sets the stage for potential resource growth. While early days, the company’s methodical approach and strong funding position it well to deliver meaningful results in the coming months.
Bottom Line?
Midas Minerals’ Otavi acquisition and drilling campaign could redefine its growth trajectory, investors will watch closely as assays start flowing in 2026.
Questions in the middle?
- What initial assay results from the T-13 and Spaatzu drill programs will reveal about resource size and grade?
- How will exploration outcomes at South Otavi influence Midas’ strategic plans and valuation?
- What timeline and capital requirements will be needed to advance Otavi toward development?
