Midas has signed an agreement to acquire the ~1,776km2 high-grade Otavi Copper Project, and holds an option over the ~194km2 South Otavi Project, located in the Otavi Fold Belt in Namibia, near the world-class Tsumeb mine and smelter.
The Otavi Project has exceptional exploration upside, with an abundance of historic shallow, high-grade drill intercepts including 17.2m at 7.24% Copper and 144.4g/t Silver, and 6m at 16.65 copper and 370.3g/t silver. Deposits are defined at T13 and Deblin (shown on map below) and there is untapped potential for future discoveries due to modern exploration covering less than 40% of the tenure.
There are numerous large-scale copper and gold anomalies and targets over the project area.
Surrounding infrastructure includes well-maintained sealed highways, rail, high voltage power, groundwater, mining workforce, contractors and suppliers.
Otavi is 530km from Walvis Bay port and 100km from Tsumeb smelter.
Midas is actively preparing to commence drilling immediately upon completion of the acquisition – expected in H2 CY2025.
