Prospect Resources (ASX.PSC) has recorded a 20% increase in total tonnage and doubled contained gold ounces at its Mumbezhi Copper Project in Zambia, with the revised figures showing an accelerated growth profile and a 14% increase in total contained copper compared to February’s estimate.
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Crucially for project economics, a systematic re-assaying initiative has resulted in a 106% increase in total gold ounces across defined deposits.
The global Indicated and Inferred MRE now totals 208.1 million tonnes at an average grade of 0.42% copper and a 0.49% copper equivalent grade (utilising a 0.2% cut-off).
The project’s wider global inventory contains ~877,100 tonnes of copper, ~43,500 tonnes of cobalt, and ~262,100oz gold. The Mumbezhi resource is split across three deposits: Nyungu Central, Kabikupa, and West Mwombezhi.
The main reason Prospect has landed this hike was by declaring a shallow maiden Inferred Mineral Resource at the West Mwombezhi satellite deposit, some 13kms north of Nyungu Central. West Mwombezhi has contributed 30.7Mt at 0.37% copper, which represents 115,000 tonnes of contained copper.
Meanwhile, flagship Nyungu Central remains the largest asset in the hub, hosting 154.4 Mt at 0.42% copper (0.51% CuEq). Some 35% of the Nyungu Central resource sits within the high-confidence Indicated classification, which sets up a defined technical foundation for planned evaluations.
Prospect’s comprehensive core re-logging and re-assaying program during first quarter CY26 also helped the notable increase in gold ounces.
“The large-scale potential of the Mumbezhi Copper Project continues to emerge rapidly,” Prospect’s MD and CEO, Sam Hosack, declared.
“When this mineralised footprint is coupled with the magnitude of prospectivity presented by our regional targets drilling focus, one starts to get a picture of the broader opportunity at Mumbezhi and why I am so excited.”
He continued: “The material boost to gold within Nyungu Central delivered from our recent gold re-assaying programme also means we will now routinely assay for gold moving forward. As we have previously highlighted, the by-product revenue potential at Mumbezhi, across both gold and cobalt, is material – delivering real opportunity to drive forecast costs down the global cost curve.”
“We look forward to further defining this dynamic over the next six to twelve months,” he concluded in the update for Prospect shareholders today.
Next up – Prospect has initiated its Phase Three CY26 drilling program. Exploration teams are currently focusing on diamond drilling targeting extension zones at the shallower, southern end of Nyungu Central.
PSC is steady at 29cps at lunchtime today.
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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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