Prospect confirms ‘widespread, consistently present’ gold mineralisation at Nyungu Central deposit

• Prospect has recently uncovered “widespread and consistently present” gold intercepts at Nyungu Central deposit in Zambia.
• The explorer is now working towards MRE update this quarter.
• Fully-funded third-phase drilling programme to start at Mumbezhi soon.

Prospect Resources (ASX:PSC) has today reported significant gold intercepts at its Nyungu Central deposit in Zambia, which the explorer now plans to use to hike the project’s Mineral Resource Estimate in CY26’s second quarter.

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Disclaimer: This content has been prepared as part of a partnership with Prospect Resources Ltd and is intended for informational purposes only.

Significant gold was intersected in 29 of the 32 analysed holes; samples came from all major copper zones. The standout was clear: The results confirmed gold mineralisation is more consistently present across the deposit than previously understood, including within the historically less-defined northern zones.

“We’ve confirmed mineralisation at Nyungu Central is more widespread and consistently present… extending across the system and including the historically less‑defined northern zones,” Prospect chief Sam Hosack said today.

“This materially enhances a key value lever, with the potential for meaningful gold by‑product credits to drive Mumbezhi’s forecast operating costs lower.”

The re-assays targeted grade profile and confidence levels of the gold component within the existing footprint. Notable intersections, returned from within previously reported copper intercepts, had ranged from 23.1 metres at 0.55 grams per tonne gold from 82.9 metres, to 9m @ 0.15g/t Au from 16m.

These results build upon the initial 32 re-assayed holes reported in January. The last 26 re-assayed holes are expected to ping back later this month.

“We look forward to receiving the remaining gold re‑assay batches… followed by an updated Mumbezhi MRE that will fully incorporate these important insights into gold distribution at Nyungu Central,” Mr Hosack said.

The current MRE, just recently updated in February CY26, stands at 150.8 Mt @ 0.50% CuEq, and contains ~127,100 ounces of gold. The new data will be integrated into an updated Indicated and Inferred MRE for Nyungu Central as quickly as possible; release is currently slated for the second quarter of CY26.

Alongside the update, Prospect is also prepping its fully-funded Phase 3 drilling programme at Mumbezhi. HotCopper understands mobilisation is planned for early May 2026, with the programme to encompass as much as 26,000 metres of diamond, RC, and aircore drilling, all focused on regional growth targets.

PSC opened this morning’s trade at 32.5cps.

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