Prospect Resources Limited, an ASX-listed exploration and development company, has announced a maiden Mineral Resource Estimate (MRE) for its Mumbezhi Copper Project in north-western Zambia. The estimate delineates 107.2 million tonnes of mineralisation at an average grade of 0.5% copper, equating to approximately 515,000 tonnes of contained copper.
The MRE encompasses two primary deposits: Nyungu Central and Kabikupa. Nyungu Central comprises 37.5 million tonnes at a 0.5% copper grade in the Indicated category and 49.2 million tonnes at a 0.5% copper grade in the Inferred category. Kabikupa contributes an additional 20.5 million tonnes at a 0.5% copper grade, classified as Inferred.
Prospect Resources has identified significant potential for resource expansion within the Mumbezhi project area. An Exploration Target has been established, ranging from 420 million tonnes to 1,050 million tonnes at grades between 0.4% and 0.6% copper. This target includes the Nyungu Corridor, which extends approximately 16 kilometres and hosts untested geophysical anomalies and structural extensions.
To further assess the project’s viability, a scoping study is currently underway, with completion anticipated in the fourth quarter of 2025. Additionally, a Phase 2 drilling programme is scheduled to commence in the second quarter of 2025, aiming to validate multiple prospects, including Nyungu North and West Mwombezhi. Regulatory progress is also expected, with the anticipated approval of Large-Scale Mining Licences for Nyungu Central and associated deposits in the third quarter of 2025.
The Mumbezhi Copper Project is strategically located within Zambia’s prolific Copperbelt region, benefiting from established mining infrastructure and access to skilled labour. Zambia’s supportive regulatory environment further enhances the project’s prospects, providing a secure framework for mining operations.
Prospect Resources’ methodical approach to exploration and development, combined with the substantial resource delineated in the maiden MRE, positions the company favourably within the global copper market. As the project advances through detailed feasibility studies and continued drilling programmes, it is poised to contribute significantly to the copper supply chain, aligning with the increasing demand driven by global electrification and renewable energy initiatives.
