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Prospect identifies a number of exploration targets

Prospect identifies a number of exploration targets

Sam Hosack

Prospect Resources has discovered a number of exploration options that might significantly expand the Arcadia Resource.

Shantel Chisango

Speaking to Mining Zimbabwe, Prospect Resources Managing Director Mr Sam Hosack stated that identifying these exploratory targets puts Prospect on the right track to keep funding exploration projects going.

“We are going to fund further exploration so we can realise some value from our skills and knowledge,” said Hosack.

Furthermore, Hosack mentioned that the initiative of sponsoring exploratory projects is only for a short term period.

“This is a plan for the short term future,” said Hosack.

Speaking on the Arcadia project, mining will be carried out by hydraulic, track-mounted backhoe excavators, with ore and waste hauled by off-road dump trucks, according to the business plans.

“It is planned that the company mining will be performed by hydraulic, track-mounted backhoe excavators with ore and waste hauled using off-road dump trucks.”

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The company went on to say that open-pit mining method is the most convenient and economic extraction, due to the shallowness of the ore body.

Currently, Prospect’s Arcadia project is deemed as Africa’s most advanced lithium development making it the only independent, shovel-ready project globally without offtake locked up as well as one of the world’s premier hard rock lithium assets.

About Prospect Resources

Prospect Resources Limited (ASX: PSC, FRA:5E8) is a battery minerals company with a focus on lithium in and around Zimbabwe, with the flagship project being the 87% owned Arcadia Lithium project, located on the outskirts of Harare in Zimbabwe. Its Arcadia Lithium Project represents a globally significant hard rock lithium resource. The project is being rapidly developed by Prospect’s experienced team, with the focus on near term production of petalite and spodumene concentrates.

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