Prospect Resources Advances Mumbezhi Copper Exploration as Drilling Expands Resource Potential
Prospect Resources Reports Progress at Zambia’s Mumbezhi Copper Project as Drilling Targets New Deposits
Australian-listed Prospect Resources says its Phase 3 exploration programme at the Mumbezhi copper project in Zambia is progressing on schedule and within budget, with drilling activities continuing to identify potential extensions to existing mineral resources.
The company reported that approximately 20% of planned diamond drilling and 35% of the budgeted aircore drilling programme have been completed.
At the flagship Nyungu Central deposit, diamond drilling has focused on the southern section, where ten resource extension holes have been completed.
Several holes have intersected visible copper mineralisation outside the current mineral resource estimate (MRE) area.
One of the notable results came from hole NCDD026, which intersected about 40 metres of visible copper sulphide mineralisation from a depth of approximately 271 metres.
Portable X-ray fluorescence (pXRF) analysis indicated an estimated copper grade of 0.5% copper over a 4.5-metre interval within the broader intersection.
Prospect Resources said two diamond rigs are continuing to test shallow extensions of Nyungu Central before moving to other targets within the Nyungu Hub, including Nyungu West and Nyungu South.
New Copper Targets Identified
Aircore drilling at the West Mwombezhi deposit has also identified additional shallow copper mineralisation outside the existing inferred resource area.
The programme completed 81 holes covering 1,480 metres, identifying two north-south trending copper zones extending over about one kilometre of strike.
The company said these zones represent targets for future deeper diamond drilling to determine the continuity and scale of the mineralisation.
Further exploration is also underway across regional targets, including Chipimpa and Sharamba, where geophysical surveys and drilling are being used to investigate copper anomalies and other mineralisation targets.
At Sharamba, the company reported that initial diamond drilling intersected a 20-metre-wide zone of visible mineralisation at approximately 140 metres vertical depth, with assay results pending.
Scoping Study Progress
Prospect Resources said work on an initial scoping study for Mumbezhi remains on track for completion between the fourth quarter of 2026 and the first quarter of 2027.
The company has approved additional resource-focused drilling at Nyungu Central to improve confidence in inferred resources and potentially upgrade them to indicated resources.
Development scenarios under consideration include a potential 12-million-tonne-per-year open-pit mining operation.
The study is being supported by engineering firm Lycopodium, with the aim of assessing development options and providing a foundation for future expansion decisions.
Prospect Resources Managing Director and CEO Sam Hosack said the ongoing drilling programme could add additional resources at Nyungu Central, while recent aircore results have highlighted new exploration opportunities at West Mwombezhi and other regional targets.
