How Prospect Resources’ Gold Discovery Could Transform Mumbezhi’s Future
Prospect Resources has confirmed significant gold by-product mineralisation at its Nyungu Central deposit, potentially boosting the economics of the Mumbezhi Copper Project in Zambia. Updated resource estimates incorporating these findings are expected in Q1 2026.
- Gold detected in 26 of 32 re-assayed drill holes at Nyungu Central
- Notable gold intercepts coincide with copper mineralisation zones
- Remaining gold assays due late January 2026
- Updated Mineral Resource Estimates for Nyungu Central and Kabikupa on track for Q1 2026
- Potential material upgrade to Mumbezhi Project economics amid strong gold and copper prices
Gold Emerges as a Valuable By-Product
Prospect Resources Limited (ASX – PSC) has revealed a significant development at its Mumbezhi Copper Project in north-west Zambia, with the identification of widespread gold mineralisation at the Nyungu Central deposit. This discovery comes from a comprehensive re-assaying of existing drill samples, which has confirmed that gold occurs as a notable by-product alongside the project's primary copper mineralisation.
Out of 32 drill holes re-tested to date, 26 have returned highly anomalous gold grades, predominantly within the transitional and fresh copper mineralised zones. Key intercepts include 30 metres at 0.21 grams per tonne gold from 187 metres depth and 12 metres at 0.23 grams per tonne gold from 52 metres, among others. These results suggest that gold is more widespread than previously understood, offering a new dimension to the project's value proposition.
Implications for Mumbezhi’s Economic Outlook
The Mumbezhi Project already boasts a substantial copper resource, with an Indicated and Inferred Mineral Resource estimate of 86.7 million tonnes at 0.5% copper. The addition of gold as a by-product could materially enhance the project's economics, especially given the current gold price exceeding USD 4,400 per ounce. Prospect’s Managing Director, Sam Hosack, highlighted that the timing of this discovery aligns well with recent positive investor sentiment and robust commodity prices.
The company plans to incorporate the new gold assay data into an updated Mineral Resource Estimate (MRE) for Nyungu Central, aiming to declare a maiden gold resource alongside an upgrade to the existing copper resource. This update, along with the Kabikupa deposit MRE, is scheduled for completion in late Q1 2026. Pending assay results from Phase 2 drilling, expected by late January, will further inform these resource updates.
Ongoing Exploration and Next Steps
Prospect Resources continues to advance its exploration programs, with Phase 2 drilling assays for copper and gold still awaited for a small number of holes across Nyungu Central, Nyungu South, and West Mwombezhi. Metallurgical testing is also underway at the Kabikupa deposit, with initial results anticipated by late February 2026. These efforts reflect the company’s commitment to refining the project’s resource base and progressing towards potential commercial production.
Strategically located in the prolific Central African Copperbelt, the Mumbezhi Project benefits from proximity to major mines and established infrastructure. The emerging multi-commodity potential, combining copper and gold, positions Prospect Resources to leverage the growing demand for electrification and battery metals, as well as precious metals, in a transitioning global economy.
Bottom Line?
As gold emerges alongside copper at Mumbezhi, investors await the updated resource estimates that could redefine the project’s value.
Questions in the middle?
- What will the maiden gold resource estimate reveal about the scale and grade of gold at Nyungu Central?
- How will the integration of gold by-product impact the overall project economics and development timeline?
- What insights will the pending Phase 2 drilling and metallurgical test results provide for future exploration and mining plans?
