Prospect Resources hits 1.1% copper in Zambia, potential for second discovery

The Australian

7 days ago

PSC hits 1.1% copper in phase 2 drilling at Mumbezhi project
Results pending from potential second discovery at Kabikupa
Company plans further diamond and aircore drilling this year
Special Report: Prospect Resources has hit up to 1.1% copper in second phase drilling at the Nyungu Central deposit within its Mumbezhi copper project in Zambia.
Mumbezhi sits within the Central African Copperbelt in northwest Zambia, in close proximity to several major mines hosted in similar geological settings.
The project hosts a JORC-compliant indicated and inferred resource of 107.2Mt at 0.5% Cu for 514,600t of contained copper.
The company said the diamond drilling continued to provide clear validation of a growing, large-scale copper system with new strike extensions defined. Notable intersections include: 60.5m at 0.53% Cu from 296m, including 33m at 0.71% from 310m, 31m at 0.42% from 31m and 7.5m at 0.69% from 105.5m; and
18m at 0.59% Cu from 189m, including 6.3m at 1.11% from 189m, and a further 3.4m at 0.72% from 203.6m.
These zones extend copper mineralisation both up-plunge and down-plunge and have been tracked further into the oxide (south) and sulphide domains (north), reinforcing the project's overall growth potential.
'We are making excellent progress with the significant amount of Phase 2 exploration work currently underway,' Prospect Resources (ASX:PSC) managing director and CEO Sam Hosack said.
'Our drilling at Nyungu Central continues to deliver promising extensional results and is helping us to better define the structure of this significant copper deposit.' Kabikupa a potential second discovery
Meanwhile, geophysical interpretation of airborne electromagnetic surveys at the Nyungu 'Corridor' and Kabikupa-Kamafamba 'Corridor' is underway, and a licence-wide multi-element geochemical soil sampling programme is advancing to plan, with 33% completed since mid-July.
The company plans to begin a regional aircore drilling programme in early August, initially targeting cohesive geochemical anomalies at West Mwombezhi and Nyungu North.
Results are also pending from drilling at the Kabikupa deposit, which has strong potential to be a second significant discovery at Mumbezhi.
'With robust support from First Quantum Minerals, and their track record of unlocking value in Tier-1 copper assets, Prospect is now strategically positioned to deliver long-term growth from the heart of the Zambian Copperbelt,' Hosack said.
'The continued success of drilling at Nyungu Central, combined with the scale of the broader exploration campaign now underway, underpins Prospect's strategy to define a significant mineral asset in a globally significant copper-producing region.
'With copper's strategic importance to the world's electrification transition, the Mumbezhi Project presents investors with early exposure to one of Zambia's most exciting copper exploration stories.'
The results from soil sampling are expected to inform the company's follow-up diamond drilling programmes, expected to begin later in H2 2025.
This article was developed in collaboration with Prospect Resources, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions. Sponsored
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