Prospect Resources (ASX: PSC) has released an updated median resource estimate (MRE) for its Mumbezhi Copper Project (Mumbezhi), northwestern Zambia, delivering a 63% increase in tonnage and 50% jump in contained copper compared to a 2025 MRE.
It announced in a statement on February 9 that the MRE shows 174mn tonnes at an average 0.44% copper, 0.50% copper equivalent and 50% increase in contained copper for its Nyungu Central and Kabikupa deposits at Mumbezhi using a cut-off grade of 0.2% copper.
For the first time, Prospect included maiden indicated and inferred gold and cobalt resources with more than 2,000 gold assays underway.
“We are delighted with the outcomes of the updated MRE for Mumbezhi,” commented Prospect’s MD and CEO, Sam Hosack.
“Taking total contained copper tonnage towards 800,000 tonnes, plus the addition of meaningful cobalt and gold content, provides a further indication of the world-class growth pathway that we believe the Mumbezhi Copper Project is on.”
Prospect will launch a regional drilling exercise by June, targeting the flagship Nyungu Central deposit and the Chipimpa and Sharamba discovery targets.
“The exercise of incorporating gold content into the Nyungu Central MRE has unearthed a broader potential in this respect,” Hosack added.
“We have now commenced a major drill core re-logging and re-assaying programme for the Nyungu Central deposit, with the objective of further bolstering the grade and confidence of the gold content within the updated MRE. This programme is set to run in parallel with the extensive Phase 3 drilling and exploration campaign at Mumbezhi this year, which is targeted to commence during Q2 2026.”
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