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Prospect Resources (ASX: PSC) is entering a significant period of exploration activity in Zambia, with a 22,000-metre Phase 3 diamond drilling campaign underpinning its plans to expand its mineral resource and move towards a scoping study.
Speaking with HotCopper at Africa Down Under, Prospect Resources executive director of finance Ian Goldberg said a substantial portion of the latest drilling would focus on Newham Central, where the company is targeting both resource expansion and additional infill drilling.
The broader objective is to translate the company’s regional drilling into a development case, with Prospect targeting a scoping study towards the end of 2026 and publication expected in early 2027.
“In respect to commodities and Africa in general, Zambia has been in high focus. A lot of the investors that come to these conferences are searching for copper opportunities and the way we’re going,” Goldberg said.
Resource growth is another major target for the company. Prospect’s current resource stands at 208 million tonnes, with the company targeting an updated mineral resource estimate before the end of 2026 and an ambition to push the resource beyond 300 million tonnes.
“We’re targeting about 350 million tonnes, hopefully once we get that resource out. It’s an exciting time for us because there’s so much opportunity in our tenement where we can grow the resource.”
Goldberg said Zambia had been a major focus at this year’s Africa Down Under, with strong interest in the country’s government, mining sector and particularly its copper opportunities.
For Prospect, the combination of continued drilling, resource expansion and the planned scoping study gives investors several potential catalysts to watch through the remainder of the year.
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