Prospect Resources (ASX:PSC) has delivered an updated mineral resource estimate (MRE) for the Mumbezhi Copper Project in north-west Zambia, delivering a 63% increase in tonnage and a 50% increase in contained copper compared to the MRE in March 2025.
The MRE outlines 173.8 million tonnes at an average grade of 0.44% copper (0.50% copper equivalent) for the Nyungu Central and Kabikupa deposits, using an average cut-off grade of 0.2% copper.
Cobalt and gold components were included in the MRE for the Nyungyu Central deposit, which the company indicates delivers a strong potential to enhance the value of the Mumbezhi project through by-product revenue.
Over 2,000 additional gold assays are currently underway.
Managing Director Sam Hosack says that the updated MRE provides the company with a clear growth pathway for the Mumbehzhi Copper Project.
“It is also important to recognise that this update is limited to only the Nyungu Central and Kabikupa deposits. Pending assays from the drilling of the West Mwombezhii prospect last year offer strong potential for declaration of a maiden inferred MRE for this zone later in the current half,” Hosack says.
“The exercise of incorporating gold content into the Nyungu Central MRE has unearthed a broader potential in this respect. We have now commenced a major drill core re-logging and re-assaying program for the Nyungu Central deposit, with the objective of further bolstering the grade and confidence of the gold content within the updated MRE.
“The program is set to run in parallel with the extensive Phase 3 drilling and exploration campaign at Mumbezhi this year, which is targeted to commence during Q2 2026.”
Over 41% of the resource is now in the indicated category following these results. Prospect expects an maiden inferred MRE for West Mwombezhi and an updated global exploration target later in H1 2026.
Prospect will begin regional drilling in Q2 2026, targeting the Nyungu Central deposit and the high-priority Chipimpa and Sharamba targets.
Prospect Resources is an ASX-listed company, focused on exploration and development of critical and battery metals, with projects focused in sub-Saharan Africa.
Write to Amy Rotman at Mining.com.au
Images: Prospect Resources
