Midas Minerals Ltd (ASX: MM1), a junior mineral exploration company focused on copper and precious metals, has announced encouraging assay results from its Challa Project in Western Australia. The results stem from infill soil samples collected across the 848 square kilometre project area, with assays pending for the remaining samples. The company is pleased with the results, and is proceeding with plans to commence drilling on the property in the near future.
Analysis of soil samples using a Portable XRF (pXRF) spectrometer revealed gold and base metal geochemical anomalies. These anomalies have been further refined, identifying three distinct gold trends spanning approximately 9km of strike. Commercial laboratory results have validated the reliability of pXRF readings obtained from the soil samples, reinforcing the accuracy of the initial findings.
Midas Minerals Managing Director Mark Calderwood commented on the results. He said that the company is gaining a stronger understanding of the Northern gold targets on the extensive Challa project, and added that the company is planning targeted infill auger geochemical sampling on the three gold trends that total 9km strike, with the aim to define a number of drill targets. He also noted that the stronger gold anomalies can be identified by pXRF and at low ppb gold concentrations using the detectORE™ process, speeding up the exploration process, saving both time and money.
While Midas Minerals is currently prioritising exploration at the Otavi Copper Project in Namibia, the company remains committed to advancing the Challa Project through continued target definition. The company is actively preparing to commence resource definition drilling on known deposits, as well as regional exploration drilling, at the 1,776km2 Otavi Copper Project in Namibia immediately upon completion of the acquisition.
