Prospect Resources (ASX:PSC) managing director and CEO Sam Hosack has provided an update on the company’s Mumbezhi Copper Project in Zambia, following the commencement of Phase 3 drilling and a major upgrade to the project’s Mineral Resource estimate.
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The attached video (above) outlines why the latest MRE represents an important new baseline for Mumbezhi, with increased scale, stronger geological confidence and multiple growth fronts now being tested.
With drilling underway, the Australian company is also entering a period of regular exploration news flow through the balance of CY26.
Highlights
- Prospect has commenced its Phase 3 drilling program at Mumbezhi, targeting further resource growth and regional discovery potential.
- The updated MRE now stands at 208.1Mt at 0.42% copper (0.49% CuEq), containing approximately 877,000 tonnes of copper.
- Maiden gold and cobalt resources have now been defined at Nyungu Central, supporting Mumbezhi’s potential as a polymetallic system with additional by-product value.
- The resource spans Nyungu Central, Kabikupa and West Mwombezhi, reinforcing the project’s district-scale potential rather than a single-deposit story.
- Nearly 35% of the Mineral Resources are now classified as Indicated, providing a stronger foundation for near-term development studies.
- Phase 3 drilling will initially focus on extensions at Nyungu Central before testing broader targets, including the Nyungu Hub, Chipimpa and Sharamba.
- Hosack says investors can expect regular progress updates as Prospect works to demonstrate Mumbezhi’s scale and its potential role in Zambia’s future copper supply.
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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.
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