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Highlights
- A significant geochemical anomaly identified at Nyungu South.
- Phase 2 drilling scheduled to start in the second quarter of 2025.
- Enhanced fieldwork underpins promising exploration potential.
Prospect Resources Limited (ASX:PSC) has announced a major development in its exploration activities within the Mumbezhi Copper Project in north-west Zambia. The company has pinpointed Nyungu South as a high-priority drill target, characterized by a prominent 400m x 400m undrilled geochemical anomaly at the southern tip of the 16km-long Nyungu Corridor.
Exploration Breakthroughs Recent fieldwork, including termite hill sampling aligned with a chargeable induced polarization (IP) anomaly, has unveiled high copper concentrations, with values reaching up to 442 parts per million (ppm). Out of 1,213 samples collected in the area, 65 were found to have copper concentrations of 150 ppm or higher, and 30 of these were especially high, exceeding 200 ppm. These results highlight the area's strong potential and make it a focal point for the upcoming drilling campaign.
Upcoming Drilling Initiatives Prospect Resources is gearing up for its Phase 2 drilling program, set to commence in the second quarter of 2025. This next phase will focus primarily on diamond core drilling, intended to expand the mineral resource at existing deposits. Additionally, the program will include exploratory drilling at new high-potential targets within the Nyungu North and West Mwombezhi Prospect areas.
Leadership's Vision Sam Hosack, Managing Director and CEO of Prospect Resources, expressed enthusiasm about the upcoming projects: “The high-quality field work being undertaken by our geological team during the Zambian wet season continues to deliver excellent results in the lead up to the commencement of our Phase 2 drilling at Mumbezhi. The identification of this bullseye geochemical anomaly, directly overlaying a recently identified chargeable IP anomaly in this new target area of Nyungu South, delivers further validation of the strong prospectivity of this target, and its high-priority status for drill testing. We are excited about getting the rigs turning again next quarter and testing this region, along with the other high-potential targets we have generated.”
The focused approach by Prospect Resources on Nyungu South underscores the company’s strategic commitment to unlocking the potential of the Mumbezhi Copper Project. With promising geological data in hand and an ambitious drilling schedule on the horizon, the company is well-positioned to enhance its resource base and generate significant insights into the region’s mineral wealth.
