Prospect Resources Unveils 11 New EM Targets at Mumbezhi; Phase 2 Drilling Wraps Up

Exploration Breakthrough at Mumbezhi

Prospect Resources Limited (ASX, PSC) has delivered a significant update on exploration activities at its Mumbezhi Copper Project in north-west Zambia. A preliminary interpretation of a comprehensive airborne electromagnetic (AEM) survey has revealed 11 strong electromagnetic conductors across the entire licence area. These conductors represent highly attractive targets for copper mineralisation, with the standout being the 2.5-kilometre-long Chipimpa cluster, which mirrors the geophysical signature of the well-known Nyungu Central deposit.

These findings validate previous electromagnetic data and underscore the potential for new discoveries within the Mumbezhi tenure. The Chipimpa cluster, located in the southeast corner of the licence, is now a high priority for upcoming exploration efforts, signaling a promising expansion beyond the existing resource footprint.

Drilling and Assay Progress

Phase 2 drilling at Mumbezhi has recently concluded, with approximately 18,200 metres of diamond and aircore drilling completed during 2025. While assay results are still pending due to laboratory backlogs, the company anticipates receiving full data by January 2026. This will enable an updated Mineral Resource estimate (MRE) for the project in the first quarter of 2026, incorporating new insights from both copper and gold assays.

Notably, over 1,200 historical pulp samples from Nyungu Central are being assayed for gold, following indications of anomalous gold values in recent metallurgical test work. This could introduce gold as a valuable by-product, enhancing the economic profile of the Mumbezhi project. Metallurgical testing on fresh sulphide and transitional mineralisation has already yielded encouraging copper concentrate grades and recovery rates.

Regional Exploration Expands Prospects

Beyond the core deposits, regional geochemical programs including termite hill sampling and ground-based induced polarization (IP) surveys have extended the footprints of historical prospects such as Sharamba and Kamafamba, while also defining a new target at Kamafamba West. These efforts have identified coherent copper anomalies coincident with geophysical chargeability zones, setting the stage for targeted drilling in 2026.

The integration of geochemical and geophysical data is proving effective in refining exploration targets, with Canadian specialists Axiom Exploration conducting 3D depth inversions to better delineate conductive anomalies. Prospect Resources plans to prioritize future drill targets based on the finalised AEM interpretations and comprehensive soil geochemistry results expected by late December 2025.

Looking Ahead

With Phase 2 drilling complete and a robust pipeline of assay data forthcoming, Prospect Resources is poised to update its resource estimates and advance feasibility studies. The company is also reviewing satellite copper anomalies within its licences as potential feed for a central processing hub, aiming to accelerate the path toward commercial production.

CEO Sam Hosack expressed confidence in the project’s trajectory, highlighting the significance of the new EM conductors and the potential for gold to add value. As assay results and metallurgical data come to hand, the market will be watching closely to gauge the evolving scale and economics of the Mumbezhi Copper Project.