Wide copper hits point to Mumbezhi’s open pit mining potential

New wide copper intercepts from the Nyungu Central deposit have been identified in recently acquired drilling data
The results highlight similar widths and tenor of copper grades to other historical Mumbezhi data sets
A maiden reverse circulation and diamond drilling programme will kick off shortly

Special report: Previously unreleased data from Prospect Resources’ acquisition of the Mumbezhi Project shines new light on its copper prospectivity.

Prospect Resources (ASX:PSC) acquired an 85% interest in the Mumbezhi copper-cobalt project in Zambia for US$6.5m in cash and scrip in late May.

The project is within the Zambian Copper Belt, one of the most prolific and prospective copper mining regions globally.

Covering 356km², the Mumbezhi land package includes the ‘Nyungu’ deposits where impressive, near surface drilling widths and copper grades have been returned including:

71.4m at 0.61% copper from 29.6m;
47m at 0.57% copper from 20m; and
90m at 0.46% copper from 12m.

Historical drilling casts a new perspective

Freshly obtained results from historical drilling data has highlighted new intersections from a programme undertaken in 2021 that shows similar widths of copper grades to other historical Mumbezhi data sets.

These results include 38m at 0.87% copper from 101m and 32m at 0.68% copper from 159m, as well as 32m at 0.87% copper from 353m and 28.1m at 0.79% copper from 103m.

Other historical data sets have also been validated, including previously reported results for Nyungu Central such as 30m at 1.62% copper from 174m, including 6m at 5.50% copper from 174m.

The data set was purchased from Orpheus Uranium Limited as part of its acquisition of the project included previously unreported drill intersections and unassayed pulped samples from 13 deep infill diamond holes completed across Nyungu Central.

PSC has been able to verify actual surveyed locations and associated assays for 62 drill holes completed at the Nyungu Central and Nyungu South deposits located in the southwest corner of the Mumbezhi licence.

’Potential long life open pit copper project’

“These newly released results again confirm the outstanding prospectivity of this land package,” PSC Managing Director and CEO Sam Hosack said.

“The further we progress in our initial post-purchase evaluation of Mumbezhi, the more evident are key facets of a potential high value, long-life, open-pittable copper-cobalt mining and processing operation, with regionally favourable metallurgy and a significant exploration upside.”

Drilling to kick off shortly

PSC plans to unlock Mumbezhi’s potential with its first drill programme in the next few weeks, with a maiden resource targeted during Q4 of this year.

This article was developed in collaboration with Prospect Resources, a Stockhead advertiser at the time of publishing.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.