Prospect Resources Ltd. is pleased to provide a further update on its ongoing Phase 3 drilling and regional exploration programmes at the Mumbezhi Copper Project (90% Prospect) in north-west Zambia.
Prospect’s Managing Director and CEO, Sam Hosack, commented:
“These latest infill drilling results build directly on our recent standout results at Nyungu Central, delivering additional high-grade copper intersections exceeding 1% Cu. Pleasingly, our targeted infill diamond drilling programme continues to demonstrate consistency, continuity and quality of higher grade mineralisation, further strengthening confidence in the scale and composition of the Nyungu Central deposit as we advance the wider Mumbezhi Project towards Scoping Study completion.
“Additionally, our regional exploration drilling continues to highlight the emerging broader regional potential at Mumbezhi. Aircore drilling at Shikezi has identified two compelling new copper anomalies, with the larger one bearing a strike length exceeding 1km, reinforcing our view that Mumbezhi hosts multiple opportunities for future resource growth and new discoveries.
“Four diamond rigs are currently operating across the project, advancing both our resource growth and upgrade objectives, and regional exploration target testing. This includes ongoing drilling at Nyungu Central and Kamafamba, as well as the recent commencement of first-pass drilling at Chipimpa.
“With laboratory turnaround times continuing to improve and a large suite of assays still pending, we expect a strong flow of results over the coming months. We look forward to updating shareholders as we continue to test a growing pipeline of copper targets across the broader Mumbezhi Project area.”
New Phase 3 infill holes at Nyungu Central deliver high-grade copper intercepts
Further assays have been returned from the ongoing Phase 3 Mineral Resource estimate (MRE) infill drilling programme at Nyungu Central. These results have returned relatively shallow intercepts at high copper grades, along with some elevated values of by-product cobalt and gold.
NCDD042* returned the following significant intersections:
- 10.0m @ 1.10% Cu from 97m (including 0.03% Co and 0.11 g/t Au);
- 6.6m @ 0.47% Cu from 115m (including 0.41 g/t Au); and
- 4.0m @ 0.39% Cu from 132.0m (including 0.09 g/t Au)
NCDD041 returned the following significant intersections:
- 5.68m @ 1.51% Cu from 162.4m (including 0.06 g/t Au); and
- 6.0m @ 0.48% Cu from 113m
Assay results for twenty-four (24) diamond holes remain pending from Phase 3 drilling at Nyungu Central, of which 17 holes (all infill) have been identified as priority.
Aircore drilling results outline impressive copper targets at Shikezi
Recent aircore (AC) drilling at the Shikezi prospect, comprising sixty two (62) vertical holes for 1,327m, has delineated two substantial, coherent copper anomalies with robust, near surface, interval widths.
The larger of the two anomalies extends for more than 1km along a southeast to northwest trend. The second target, located approximately 2km to the west of the main anomaly, extends over 600m and remains open.
The anomalies are interpreted to be associated with copper mineralisation hosted within the southeast-northwest trending thrust sheets identified from existing airborne aeromagnetic (AEM) data.
Shikezi is located approximately 18.5km east-northeast of the flagship Nyungu Central deposit and straddles the boundary of the Mumbezhi mining licences (39445-HQ-LML; 39465-HQ-LML) on the eastern edge of the tenure (~20km west of Barrick’s large Lumwana Copper Mine).
AC drilling was sampled on 1m intervals downhole, using a commercial portable XRF (pXRF) instrument to obtain copper values. Better results included:
- SZAC043: 25m @ 501ppm Cu from 2m (open at end of hole)
- SZAC047: 22m @ 448ppm Cu from 3m (open at end of hole)
- SZAC013: 25m @ 309ppm Cu from 0m (open at end of hole)
- SZAC021: 20m @ 236ppm Cu from 1m (open at end of hole)
- SZAC055: 17m @ 207ppm Cu from 13m (open at end of hole)
The AC drilling was designed to follow up strong soil geochemical results generated through a project-wide surveying programme completed in 2025, together with subsequent termite hill sampling undertaken earlier this year. These programmes successfully defined the two target areas that have now been tested by this AC drilling.
The main 1km long eastern copper anomaly at Shikezi has been prioritised for future diamond drilling.
Regional exploration drilling in progress at Chipimpa and Kamafamba
As scheduled, Prospect has commenced diamond drilling at both the Chipimpa and Kamafamba regional exploration targets.
Chipimpa emerged as a high-priority exploration target following a detailed interpretation of AEM data, which outlined a 2.5km long cluster of conductive anomalies1, analogous to those associated with the flagship Nyungu Central deposit. Subsequent drilling of similar AEM targets at Nyungu Central during the Phase 3 programme this year has successfully intersected copper sulphide mineralisation2, enhancing confidence in Chipimpa’s exploration potential.
An initial seven (7) drill holes for approximately 2,100m have been planned at Chipimpa, designed to test the convergence of AEM conductors, induced polarisation (IP) chargeability and resistivity anomalies, and strong copper geochemical anomalies3 identified during Prospect’s exploration activities over 2025-26.
At Kamafamba, drilling of the first diamond hole has commenced, part of an eight (8) drill hole programme designed to test various chargeable/resistivity IP anomalies and surface copper geochemical anomalies.
Kamafamba is situated approximately 10km east-southeast of Nyungu Central. Historical drilling by the previous operator, Argonaut Resources NL4 during 2015, consisted of three relatively shallow drill holes for 409.3m, and returned shallow, anomalous copper intersections, with two of those considered significant:
- KMDD001: 15.85m @ 0.30% Cu from 41.0m; and
- KMDD003: 17.6m @ 0.40% Cu from 134.5m, incl. 5.6m @ 0.67% Cu from 146.5m
