Prospect Resources reports strong initial drilling results at the Kabikupa Prospect within the Mumbezhi Copper Project, confirming significant copper mineralisation and validating historical data. The company targets a maiden Mineral Resource estimate by Q1 2025.
- Phase 1 drilling at Kabikupa returns wide intervals of copper sulphide mineralisation over 820m strike
- Significant copper grades up to 1.76% Cu in multiple drill holes
- Validation of historical drilling results from a decade ago
- Chargeable IP anomalies and termite hill geochemistry support resource potential
- Maiden Mineral Resource estimate for Kabikupa and Nyungu Central expected in Q1 2025
Exploration Breakthrough at Kabikupa
Prospect Resources Limited (ASX: PSC) has announced compelling initial assay results from its Phase 1 exploration drilling at the Kabikupa Prospect, part of the broader Mumbezhi Copper Project in Zambia's prolific Central African Copperbelt. The five diamond drill holes, totaling 1,104 metres, have delineated extensive copper sulphide mineralisation along an 820-metre strike length, significantly expanding the known footprint of high-grade copper mineralisation that was first identified over a decade ago.
The recent drilling results not only confirm the presence of copper mineralisation but also validate historical data from Argonaut Resources NL's 2014-15 drilling campaigns. This validation adds confidence to the geological model and supports the prospectivity of Kabikupa as a substantial copper deposit.
Robust Copper Intercepts and Geological Insights
The drilling has returned several notable intercepts, including 31.4 metres at 0.60% copper from 118 metres depth, with a higher-grade zone of 10.5 metres at 1.05% copper, and 27 metres at 0.83% copper including 10 metres at 1.76% copper. These intervals demonstrate the presence of at least two semi-continuous, sub-parallel tabular mineralised zones dipping approximately 35 degrees to the northeast. The mineralisation remains open both up dip and along strike, suggesting further potential for resource growth.
Geological interpretations indicate that the copper mineralisation is layered and associated with areas of higher strain within mica-rich zones. Complementary geophysical data, particularly chargeable induced polarization (IP) anomalies, alongside termite hill geochemical sampling, reinforce the potential for a sizeable mineral resource at Kabikupa.
Strategic Next Steps and Resource Estimation
Prospect Resources is on track to complete an initial Mineral Resource estimate for Kabikupa, alongside the flagship Nyungu Central deposit, by the end of Q1 2025. This milestone will be critical in defining the economic potential of the Mumbezhi Project and underpinning future development plans.
Looking ahead, the company plans to commence Phase 2 drilling in the first half of 2025, which will include further scout drilling at Kabikupa to test extensions of the mineralised zones and explore three newly identified large IP anomalies within a 5-kilometre corridor north of Nyungu Central. These efforts aim to expand the resource base and enhance the project's scale and value.
Context Within the Copper Market and Regional Significance
The Mumbezhi Copper Project is strategically located in a mining-friendly jurisdiction within the Central African Copperbelt, a globally significant copper-producing region. Copper's critical role in electrification and green energy technologies, including electric vehicles, underscores the importance of new discoveries like Kabikupa in meeting future demand.
Prospect Resources’ methodical approach, combining modern geophysical targeting with robust drilling and geochemical sampling, exemplifies best practices in mineral exploration. The validation of historical data through contemporary drilling enhances the credibility of the project and positions Mumbezhi as a promising asset in the copper sector.
Bottom Line?
Kabikupa’s promising copper mineralisation sets the stage for a pivotal resource update that could reshape Prospect Resources’ growth trajectory.
Questions in the middle?
- How will the upcoming maiden Mineral Resource estimate quantify Kabikupa’s economic potential?
- What are the implications of the newly identified IP anomalies for the overall Mumbezhi Project scale?
- How might global copper market dynamics influence Prospect Resources’ development timeline?