Midas Minerals (ASX:MM1) said preliminary assays for the initial nine infill holes drilled on the T-13 copper-silver deposit at the Otavi copper project in Namibia returned high-grade intercepts, according to a Monday Australian bourse filing.
This included the best interval at the deposit to-date of 50 meters at 5.6% grade of copper and over 125 grams per tonne grade of silver, or over 7.9% grade of copper-equivalent from 194 meters.
Two reverse circulation drills are operating at the Spaatzu prospect, per the filing.
The company's shares soared 8% in recent trading on Monday.
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