Prospect Resources expands Phase 3 drilling in Zambia
- Prospect Resources expanded its Phase 3 diamond drilling programme at the Nyungu Central deposit after discovering high-grade copper extensions.
- Additional drill metres pushed total planned drilling to 13,375m, triggering positive market interest.
- The company plans to target growth areas on the eastern flank to support its upcoming scoping study.
Prospect Resources (ASX:PSC) expanded its Phase 3 drilling programme at the Mumbezhi Copper Project in Zambia following high-grade copper intercepts outside its current resource estimate.
The decision follows earlier step-out drilling success that confirmed mineralisation extended beyond previous geological models.
"The broader extension potential at Nyungu Central has justified a significant increase in budgeted diamond drill metres this year, with this expanded focus now directed to the eastern flank and northern down plunge areas that continue to offer genuine potential," said Prospect Managing Director and CEO Sam Hosack.
The company added 3,375m of extensional diamond drilling to the Nyungu Central project, while also confirming an initial copper discovery at the nearby Sharamba prospect.
Management stated that the project's Mumbezhi Scoping Study remains on track for completion and release in the first quarter of 2027.
Following the announcement the Prospect Resources share price was unchanged at $0.24.
Prospect holds a 90% stake in the Mumbezhi Copper Project located in north-west Zambia.
The explorer operates four diamond drill rigs on site to accelerate testing across the Nyungu Central, Kabikupa, Sharamba, Kamafamba, and Chipimpa prospects.
