Prospect Resources Ltd. is pleased to provide a further update on its ongoing Phase 3 exploration drilling programmes at the Mumbezhi Copper Project (90% Prospect) (Mumbezhi) in north-west Zambia.
Prospect’s Managing Director and CEO, Sam Hosack, commented:
“I am satisfied that this year’s drill programme 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. 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.
“Regards 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 +3km long structural sequence. This key regional target clearly justifies substantial further drilling, which will be planned in due course.
“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.
New results consolidate Nyungu Central extension zone to the south-east
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 (characterised by chalcopyrite and chalcocite) occurs closer to surface up plunge.
Further high-grade copper intercepts have been returned from the latest set of assays received for this drilling. As 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 (which totals 154.4 Mt @ 0.42% Cu (0.51% CuEq) at 0.2% Cu cut-off grade).
Drill hole NCDD033 returned a wide, high-grade intercept of 27m @ 0.69% Cu from 102m.
This hole has infilled extensional copper mineralisation westward and up dip of the previously reported NCDD028 (66m @ 0.42% Cu) (refer Figures 1, 2 and 4).
Drill hole NCDD031 intersected 5.1m @ 0.99% Cu from 173m and 3.8m @ 0.95% Cu from 132m.
This intersection has infilled extensional copper mineralisation westward and up dip of the previously reported NCDD026 (44m @ 0.60% Cu) (refer Figures 1, 3 and 4).
Both results appear related to a continuous, strong, and shallow airborne electromagnetic (AEM) anomaly located near surface in the same region.
The unmineralised mafic intrusive rock sequence shown in Figures 2 and 3 (green shaded) has been interpreted to be a unit over which mineralised ore schist was thrust (from west to east), with the eastern side now dipping to the east and returning wide dilated intercepts of moderate-high grade copper mineralisation.
These new results further validate the potential to define significant additional copper mineralisation in the zone located immediate to the south-east of the current Nyungu Central MRE.
Assay results for 20 (of 29) diamond holes remain pending for the Phase 3 programme at Nyungu Central, of which 16 holes (both resource extension and infill) have been identified as priority.
