Midas Minerals (ASX:MM1) said drill holes on the Main and West zones on the T-13 copper-silver deposit at its Otavi copper project in Namibia continue to define and refine high-grade mineralization, according to a Wednesday Australian bourse filing.
The company encountered intercepts of 30.1 meters at 5.4% grade of copper-equivalent, including 4% grade of copper and 71.2 grams per tonne (g/t) grade of silver from 325.6 meters, as well as 15.5 meters at about 5% grade of copper equivalent, including 4.3% grade of copper and 35.1 g/t grade of silver from 114.8 meters from the Main zone.
It also encountered 31.4 meters at 2.6% grade of copper equivalent, including 1.9% grade of copper and 37.1 g/t grade of silver from 335.7 meters from the West zone. Results from the West zone reveal a higher-grade core not defined in earlier drilling, per the filing.
Midas Minerals' shares rose past 2% in recent trading on Wednesday.