Prospect Resources Unveils Maiden Resource Estimate for Zambia’s Mumbezhi Copper Project
ASX-listed Prospect Resources has announced a maiden mineral resource estimate (MRE) of 107 million tonnes at 0.5% copper, containing a total of 515,000 tonnes of copper at its Mumbezhi copper project in Zambia.
The resources are distributed across the Nyungu Central and Kabikupa deposits. The MRE includes:
- 69 million tonnes at 0.53% copper at Nyungu, with 43% classified as indicated resources.
- 18 million tonnes at 0.57% copper at Kabikupa, fully classified as inferred resources.
Gold and cobalt resources at Mumbezhi have not yet been classified under the Joint Ore Reserves Committee (JORC) guidelines due to historical inconsistencies in cobalt assays and limited gold assay data.
Additionally, comprehensive metallurgical testwork to assess potential recoveries of these byproducts has not been conducted.
Prospect Resources highlights significant regional exploration potential, particularly to the north and south of the Nyungu deposit.
The company anticipates securing large-scale mining licenses for the entire Mumbezhi project area in the coming weeks. Meanwhile, a scoping study for project development remains on track for completion in the fourth quarter.
Managing Director and CEO Sam Hosack stated that the MRE reflects the dedicated efforts of the exploration team and serves as a key step in de-risking the project for future development.
He confirmed that a Phase 2 drill program will commence in the second quarter, targeting further resource growth at both Nyungu and Kabikupa, as well as broader exploration across the Mumbezhi tenure.
