• Hole NCDD042 at Nyungu Central returned 10.0 metres at 1.10% copper from 97 metres, and NCDD041 returned 5.68 metres at 1.51% copper.
  • Aircore drilling at Shikezi identified two copper anomalies about two kilometres apart; the results are portable XRF readings below the resource cut-off, for target generation only.
  • The Mumbezhi Scoping Study remains on track for completion and release in the first quarter of 2027.

Infill assays from Nyungu Central

Prospect Resources Limited (ASX:PSC) has reported laboratory assays from two further holes in its Phase 3 infill drilling at Nyungu Central, part of the Mumbezhi Project in north-west Zambia. Hole NCDD042 returned 10.0 metres at 1.10% copper from 97 metres, with 0.03% cobalt and 0.11 grams per tonne gold, followed by 6.6 metres at 0.47% copper from 115 metres and 4.0 metres at 0.39% copper from 132 metres. Hole NCDD041 returned 5.68 metres at 1.51% copper from 162.42 metres and 6.0 metres at 0.48% copper from 113 metres. The company notes that 122 assays remain pending for NCDD042 from a depth of 209 metres.

Thirty-six Phase 3 diamond holes totalling 11,895 metres have been completed. Assays are pending for 24 holes, of which 17 are infill holes, which the company treats as the priority, and seven are extensional. Two rigs are active at Nyungu Central. Prospect has allocated about 6,750 metres of infill and extensional drilling to try to upgrade Inferred resources to Indicated at Nyungu Central and Kabikupa.

Shikezi aircore programme

Prospect also reported results from 62 vertical aircore holes totalling 1,327 metres at Shikezi, about 18.5 kilometres east-north-east of Nyungu Central and about 20 kilometres west of Barrick's Lumwana mine. The programme identified two copper anomalies about two kilometres apart. The main anomaly is more than one kilometre long, trends south-east to north-west and has been prioritised for future diamond drilling, while a western anomaly about 600 metres long remains open. The company interprets the anomalies as relating to thrust sheets identified from airborne electromagnetic data.

The best portable X-ray fluorescence results were 25 metres at 501 parts per million copper from 2 metres in SZAC043 and 22 metres at 448 parts per million copper from 3 metres in SZAC047. The company stresses that these are portable instrument readings rather than laboratory assays, that they are below the 0.2% copper cut-off used for its resource, and that they are for target generation only. All holes were open at the end of the hole.

Regional drilling and project background

Diamond drilling has begun at Chipimpa, where the company is targeting a 2.5 kilometre cluster of electromagnetic conductors with a plan of seven holes for about 2,100 metres. At Kamafamba, about 10 kilometres east-south-east of Nyungu Central, the first hole of an eight-hole programme has started. Historical drilling there by Argonaut in 2015 returned 15.85 metres at 0.30% copper in KMDD001 and 17.6 metres at 0.40% copper in KMDD003, including 5.6 metres at 0.67% copper. Four diamond rigs are operating across the project.

Prospect holds 90% of Mumbezhi, which comprises two granted Large Scale Mining Licences covering about 356 square kilometres. The company's May 2026 Mineral Resource, reported in the Indicated and Inferred categories, is 208.1 million tonnes at 0.42% copper, or 0.49% copper equivalent, containing 877,000 tonnes of copper. That resource estimate was released earlier and is not changed by this announcement.

Risks and next steps

Drill intercepts are down-hole results from an exploration programme, and many assays are still outstanding, so the results may not be representative of the wider deposit. The Shikezi anomalies are early-stage targets that have not been tested by diamond drilling. A Mineral Resource does not demonstrate that a project is economically viable, and the Scoping Study has yet to be completed.

Prospect says its Scoping Study remains on track for completion and release in the first quarter of 2027. It also says laboratory turnaround times are improving and it expects a steady flow of results over the coming months as pending assays are received, alongside continued drilling at Nyungu Central, Kamafamba and Chipimpa and further testing of the Shikezi anomalies.