Prospect Res’ jumps +8% as company boasts shallow copper system at Mumbezhi target

Prospect Resources (ASX:PSC) has jumped nearly +10% higher in Wednesday trades at lunchtime after the company unveiled what its geotechs are thinking on the back of recent drilling: that its Mumbezhi Copper Project (MCP) boasts a shallow copper system at the West Mwombezhi (WM) target.

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Diamond drilling has recently concluded a diamond drill run at WM with “near-surface continuous… copper mineralisation” flagged across 1km of strike that still remains open westward and southward.

The company flagged the following drill hits on Wednesday with a view towards a maiden MRE for the WM target, specifically due in the next three months.

“We are encouraged by the latest results from West Mwombezhi, which point to a compelling emerging opportunity that enhances the broader regional potential at Mumbezhi,” PSC CEO Sam Hosack said.

“Strong copper-in‑soil anomalism continues for over 1km south of the current drill footprint, reinforcing the scale potential,” he added.

“These positive outcomes will feed directly into the maiden Mineral Resource estimate for West Mwombezhi, which remains on schedule for completion in Q2 2026.”

PSC last traded at 33cps.

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