Prospect Discovers High-Grade Copper at Mumbezhi Project
Prospect Resources has identified wide, high-grade copper intercepts at the Nyungu Central deposit in its Mumbezhi Project, Zambia. The company is targeting a maiden JORC resource by Q4 2024 and has commenced drilling activities.
By Patricia Rwafa
As released on 17 June 2024, the historical drill data sets have also now been validated by Prospect, including significant intersections previously reported for Nyungu Central.
Significant new intersections from that drill programme (undertaken in 2021) include:
– 38.0m @ 0.87% Cu from 101.0m and 32.0m @ 0.68% Cu from 159.0m (NYDD058)
– 32.0m @ 0.87% Cu from 353.0m and 28.1m @ 0.79% Cu from 103.0m (NYDD062)
– 20.0m @ 1.08% Cu from 27.0m (NYDD054)
– 17.0m @ 1.03% Cu from 29.0m (NYDD055)
These results show similar widths and tenors of copper grades to other historical Mumbezhi data sets, providing further confidence in the overall productivity of the Nyungu deposits.
Other historical drill data sets have also now been validated by Prospect, including significant intersections previously reported for Nyungu Central such as:
– 30.0m @ 1.62% Cu from 174.0m incl. 6.0m @ 5.50% Cu from 174.0m (NYU11RD021)
– 31.0m @ 1.06% Cu from 166.0m (NYU11RD010)
– 44.5m @ 0.96% Cu from 177.0m (NYRD046)
– 76.1m @ 0.60% Cu from 216.9m incl. 35.1m @ 0.77% Cu from 216.9m (NYRD031)
– 148.0m @ 0.35% Cu from 16.0m (MBD01RC002)
Prospect is targeting the declaration of a maiden JORC-reportable Copper Mineral Resource for Mumbezhi (Nyungu deposits) during Q4 2024.
Field activities have commenced with site access and associated infrastructure being established. First-phase RC and diamond drilling are expected to begin in the next few weeks. Environmental and Social Impact Assessment (ESIA) studies have also commenced.
Prospect’s Managing Director and CEO, Sam Hosack, commented:
“Wide, strongly mineralized copper intercepts are a hallmark of the Nyungu deposits, and these newly released results again confirm the outstanding prospectivity of this land package.
The further we progress in our initial post-purchase evaluation of Mumbezhi, the more evident are key facets of a potentially high-value, long-life, open-pittable copper-cobalt mining and processing operation, with regionally favourable metallurgy and significant exploration upside.
Prior to completion, the Mumbezhi Licence was transferred to our new Zambian subsidiary, Osprey Resources Ltd (85% Prospect), and we are now proceeding to unlock Mumbezhi’s potential. With the strong backdrop provided by the global copper market, Prospect is well-positioned and capitalized to rapidly advance Mumbezhi. We are eagerly anticipating the commencement of our first drill programme there in the next few weeks.”