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Midas Minerals Identifies High-Grade Gold Mineralization at Namibia Project's Deblin Deposit

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Midas Minerals (ASX:MM1) identified high-grade gold mineralization during recent drilling at its Deblin deposit on the Otavi Copper Project in Namibia, according to a Monday Australian bourse filing.

The results were up to 35.6 meters at 3.4% copper, 6.1 grams per tonne silver and 0.19 grams per tonne gold from 367 meters, the filing said.

Two diamond rigs and a reverse circulation (RC) rig are currently drilling at Deblin, with an additional diamond drill rig expected to arrive in August as the RC rig moves to nearby regional prospects, it added.

The company's shares fell almost 1% in recent Monday trade.

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