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- New high-grade copper intercepts consolidate extension zone
- New hits lie immediately south-east of Nyungu Central deposit
- All results located outside existing mineral resource estimate
- Four diamond drill rigs currently operating on site
Prospect Resources (ASX: PSC) continues to obtain impressive results from the latest phase of drilling at the Mumbezhi copper project in north-west Zambia.
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Further high-grade copper intercepts have been returned in the latest set of assays received from the Nyungu Central deposit.
Together with the results released on 21 July 2026 and 12 August 2026, these new intercepts lie outside the existing Indicated and Inferred May 2026 MRE defined at Nyungu Central of 154.4 million tonnes (Mt) at 0.42% copper (0.51% CuEq).
“I am satisfied that this year’s drill program is progressing well. We started the year with fabulous MRE upgrades and have carried this momentum into our phase 3 drilling, which continues to deliver growth,” MD and CEO, Sam Hosack, said.
“The area immediately to the south-east of the Nyungu Central MRE is filling out nicely, with the results announced today showing a continuation of the strong grade profile delivered from this zone so far”.
“The broader extension potential at Nyungu Central has justified a significant increase in budgeted diamond drill metres this year, with this expanded focus now directed to the eastern flank and northern down plunge areas that continue to offer genuine potential.”
Phase 3 extensional diamond drilling at Nyungu Central has focused on targeting high-potential growth beyond the south-eastern end of the existing MRE, where copper mineralisation occurs closer to surface up plunge.
“Regarding broader exploration we are also encouraged by the initial assay results received from the Sharamba prospect, where we have confirmed a copper discovery and significantly upgraded the potential of this three-km-plus-long structural sequence. This key regional target clearly justifies substantial further drilling, which will be planned in due course,” Mr Hosack said.
“Finally, while it has been frustrating to see drilling progress sharply outpace assay turnaround of results, we have proven a significantly quicker alternate testing pathway to mitigate this challenge and accelerate the return of key extensional and infill results at Nyungu Central and Kabikupa.”
Mr Hosack said the new results further validate the potential to define significant additional copper mineralisation in the zone located immediately to the south-east of the current Nyungu Central MRE.
PSC was up 4.08% to 25.5¢. Mkt cap $203.8M.
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