Midas Minerals (ASX:MM1) identified high-grade copper-silver mineralization during recent drilling at its Spaatzu Prospect at its Otavi copper project in Namibia, according to a Monday Australian bourse filing.

The results were up to 41 meters at 1.13% copper and 33.4 grams per tonne silver from 19 meters, including 20 meters at over 1.8% copper and 63.4 grams per tonne silver from 39 meters, representing the most consistent mineralization encountered to date at Spaatzu with intercepts close to true width, the filing added.

The drill-tested copper-silver mineralization zone at Spaatzu now extends for at least 1,200 meters of strike, with an initial resource for Spaatzu and Deblin and an updated T-13 resource expected in the first quarter of 2027, it added.

The company's shares rose 5% in recent Monday trade, reaching an all-time high.