Assay Delays Cloud Outlook as Prospect Advances West Mwombezhi Drilling

A New Frontier at West Mwombezhi

Prospect Resources Limited (ASX – PSC) has announced a compelling new shallow copper drill target at its West Mwombezhi prospect, part of the broader Mumbezhi Copper Project in north-western Zambia. The discovery follows an extensive aircore drilling program that revealed highly anomalous copper mineralisation near surface, extending over a strike length exceeding one kilometre.

This new target is particularly notable because it coincides with a well-defined 1.5-kilometre north-northeast trending copper anomaly identified through innovative termite mound geochemical sampling. Such biological sampling techniques have increasingly become valuable in mineral exploration, especially in tropical regions where traditional soil sampling can be challenging.

Advancing Exploration with Diamond Drilling

Building on these encouraging aircore results, Prospect Resources has commenced diamond drilling to test the continuity and depth extent of the copper mineralisation at West Mwombezhi. This drilling is part of a broader Phase 2 program that also includes ongoing work at Nyungu South and resource definition drilling at Kabikupa and Nyungu Central deposits.

To date, approximately 77% of the Phase 2 diamond drilling budget has been executed, with activities progressing on schedule and within budget. However, assay turnaround times have lengthened due to a surge in exploration activity across the Zambian Copperbelt, resulting in only about 25% of submitted core samples from Mumbezhi having been reported so far.

Strategic Importance of the Mumbezhi Project

The Mumbezhi Copper Project, in which Prospect holds an 85% interest, is situated in the world-class Central African Copperbelt, a prolific copper-producing region. The project covers approximately 356 square kilometres and hosts a JORC-compliant Indicated and Inferred Mineral Resource of 107.2 million tonnes at 0.5% copper, containing over 514,000 tonnes of copper.

Prospect’s systematic approach, combining geochemical sampling, geophysical surveys, and drilling, aims to expand this resource base and unlock the full potential of the region. The recent airborne electromagnetic survey and ongoing ground-based induced polarisation surveys are expected to further refine exploration targets and support resource updates planned for the fourth quarter of 2025.

Looking Ahead

With diamond rigs actively testing multiple targets across the Mumbezhi licences and a busy quarter of assay results anticipated, Prospect Resources is positioning itself to significantly advance the development of this copper-rich project. The integration of novel exploration techniques, such as termite mound sampling, alongside traditional drilling, underscores the company’s commitment to innovative and thorough exploration.

While assay delays present a short-term challenge, the scale and quality of the new West Mwombezhi target add a promising chapter to Prospect’s exploration story in Zambia’s Copperbelt.