Prospect Resources Ltd. is pleased to announce an updated Mineral Resource Estimate (MRE) for its Mumbezhi Copper Project in north-west Zambia.
The MRE totals 208.1 million tonnes (Mt) at an average grade of 0.42% Cu (0.49% CuEq**) across the Nyungu Central, Kabikupa and West Mwombezhi deposits (0.2% Cu cut-off).
Key changes from the February 2026 MRE include:
- An updated Indicated and Inferred MRE for the Nyungu Central deposit (copper, cobalt and gold Mineral Resources); and
- A maiden Inferred MRE for the shallow, tabular West Mwombezhi deposit (holding 115kt contained copper), located approximately 13km north of Nyungu Central.
These two deposits, along with the Kabikupa deposit (unchanged MRE), remain open along strike and down-dip.
Prospect’s Managing Director and CEO, Sam Hosack, commented:
“The large-scale potential of the Mumbezhi Copper Project continues to emerge rapidly. Total copper content is approaching 900kt, with 262,000 contained gold ounces, with all three defined deposits enjoying significant additional growth potential. When this current mineralised footprint is coupled with the magnitude of prospectivity presented by our regional targets drilling focus this year, one starts to get a picture of the broader opportunity that exists at Mumbezhi and why I am so excited.
“The material boost to gold content within the Nyungu Central MRE delivered from our recent gold reassaying 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 operating costs down the global cost curve. We look forward to further defining the extent of this dynamic over the next 6-12 months.
“Finally, we are delighted to have our Phase 3 2026 drilling programme underway. This programme is initially focused on targeted extension of the Nyungu Central deposit in shallower up-dip positions to the south. It is then set to test the broader ‘Nyungu Hub’ potential (including Nyungu West and a key conductor northeast of the Nyungu South prospect), along with scout drilling of high-potential regional targets. These key regional targets include the large-scale Chipimpa and Sharamba EM conductor targets, which are both over 2km in strike and show a similar scale, shape and conductivity to the Nyungu Central deposit signature.”
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