- Step-out drilling delivers thick copper intercepts
- Results expand new zone to the southeast
- Intersections complement previous results from outside existing MRE
- Four diamond drill rigs now operating
Prospect Resources (ASX:PSC) is ramping up drilling as new results continue to unveil significant upside at the Nyungu Central deposit at its Mumbezhi copper project in north-west Zambia.
Listen to the HotCopper podcast for in-depth discussions and insights on all the biggest headlines from throughout the week. On Spotify, Apple, and more.
There are four diamond drill rigs in the field as part of the company’s ongoing Phase 3 exploration drilling program for the expanding Nyungu Central deposit.
Results to date have continued to extend the new mineralised zone at Nyungu Central with wide copper intercepts returned from a further two extensional holes completed at the southern end of the deposit.
MD and CEO, Sam Hosack, said the new intercepts complement the existing Indicated and Inferred May 2026 mineral resource estimate (MRE) defined at Nyungu Central of 154.4 million tonnes (Mt) at 0.42% copper.
“Our Phase 3 extensional drilling continues to deliver highly encouraging results, with further broad copper intercepts expanding and delineating an emerging mineralised zone southeast of Nyungu Central,” Mr Hosack said.
“Importantly, these intercepts occur at and beyond the boundaries of the current Nyungu Central MRE and continue to demonstrate the strong association between copper mineralisation and the shallow, continuous AEM anomaly previously identified in this area.”
Mr Hosack told shareholders drilling activities continue to outpace assay turnaround times, resulting in a substantial pipeline of pending results across the broader Mumbezhi project.
This includes recent drilling at Sharamba, where five completed drill holes have intersected visual copper mineralisation, together with seven priority drill holes at Nyungu Central for which assays remain pending.
“The consistency of results delivered to date through the Phase 3 program continues to validate our geological model and targeting strategy. More broadly, this drilling strengthens our conviction that Mumbezhi hosts a much larger copper system than is currently reflected in the existing MRE, highlighting the project’s potential to deliver further resource growth in the near term,” Mr Hosack said.
Phase 3 extensional drilling at Nyungu Central is focused on targeting high-priority growth areas at the southern end of the existing MRE, where copper mineralisation (characterised by chalcopyrite and chalcocite) occurs closer to surface up plunge, before being terminated or offset on a major east-southeast trending fault.
PSC was steady at 23.0¢ with a Mkt cap of $199.6M prior to markets opening.
Join the discussion: See what HotCopper users are saying about Prospect Resources be part of the conversations that move the markets.
The material provided in this article is for information only and should not be treated as investment advice. Viewers are encouraged to conduct their own research and consult with a certified financial advisor before making any investment decisions. For full disclaimer information, please click here.