Prospect Resources Limited has completed the Share Sale and Purchase Agreement with Global Development Cooperation Consulting Zambia Limited (GDC) to acquire an additional 5% interest in the Mumbezhi Copper Project in north-western Zambia.
Prospect (via its 100%-owned Singapore-based subsidiary, Prospect Copper Holdings Pte. Ltd.) now holds a 90% interest in Mumbezhi.
The Company is currently in the advanced planning stages for its 2026 Phase 3 drilling and exploration programme for Mumbezhi. Field exploration activities are underway on site, with drilling planned to commence in early Q2 2026.
Prospect’s Managing Director and CEO, Sam Hosack, commented:
“We are very pleased to have completed this transaction with GDC, increasing our ownership interest in the Mumbezhi Copper Project to 90%. This transaction further reinforces our long-term commitment to advancing the development of this potentially world-class copper asset in Zambia.
“Preparations for the Phase 3 drilling programme at Mumbezhi are now well advanced, with commencement scheduled for early Q2 2026 following the conclusion of the Zambian wet season in April. Supported by the proceeds of our recent equity raising, the Company is well positioned to undertake an extensive drilling campaign of approximately 50,000 metres over the 2026 – 2027 period.
This programme is designed to drive further resource growth and to test new regional copper targets across the broader Mumbezhi project area as well as significantly enhance the cobalt and gold potential.”
