Prospect Resources Announces Maiden Mineral Resource Estimate for Mumbezhi Copper Project

Prospect Resources Limited (ASX: PSC) has announced a maiden Mineral Resource Estimate (MRE) for its Mumbezhi Copper Project in northwest Zambia. The initial estimate includes 107.2 million tonnes (Mt) at an average grade of 0.5% Cu, containing 515 kt of copper. The key deposits, Nyungu Central and Kabikupa, show significant potential for expansion, with exploration targets ranging from 420 to 1,050 Mt at 0.4%-0.6% Cu.

The company is set to commence a Phase 2 drilling program in Q2 2025 to further explore high-potential targets in the Nyungu ‘Corridor.’ Additionally, the granting of Large-Scale Mining Licences is expected in Q1 2025, and a scoping study for project development is anticipated by Q4 2025.

Prospect Resources is focused on developing battery and electrification metal projects in Africa, and the Mumbezhi Project represents a strategic opportunity in the copper sector, aligning with the growing demand for the metal in green energy technologies.

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