Prospect Resources has reported encouraging results from its ongoing Phase 3 diamond drilling programme at the Nyungu Central deposit, with new high-grade copper intersections extending beyond the current Mineral Resource Estimate (MRE) and remaining open to the southeast.
The latest drilling results continue to demonstrate the significant growth potential of Nyungu Central, reinforcing its position as the flagship deposit within the company’s Mumbezhi Copper Project.
Prospect Resources Managing Director and Chief Executive Officer Sam Hosack said the recent drilling campaign has delivered highly encouraging outcomes that strengthen confidence in both the size and quality of the copper system.
“Despite the already substantial resource defined at Nyungu Central, the deposit continues to demonstrate compelling growth potential,” Hosack said.
He noted that the latest drilling results stand out for three important reasons.
“Firstly, the drilling has successfully extended the known mineralisation, confirming that this is an even larger copper system than previously defined.”
“Secondly, the intercepts are both wide and high grade compared with the existing resource, highlighting the potential to further enhance the project’s overall economics.”
“Thirdly, these mineralised intersections occur at relatively shallow, up-plunge positions compared with the currently defined resource and remain open to the southeast, where priority assay results are still pending from drill holes that contain visually identified copper sulphides.”
Hosack said these results not only increase the potential scale of the deposit but could also improve the overall economics of future mining operations.
“The enhancement of both the project’s scale and its economic potential is particularly exciting. These results also validate our exploration model for Nyungu Central and reinforce the broader exploration strategy across the Mumbezhi Project as we continue unlocking its significant untapped potential.”
While drilling continues at Nyungu Central, Prospect Resources has expanded its exploration programme to several additional targets within what it describes as the Nyungu Hub.
The company has commenced early-stage exploration at the Nyungu West prospect and plans to test a large geophysical conductor located northeast of the Nyungu South prospect. Later this quarter, Prospect also intends to begin initial diamond drilling at the Kamafamba prospect and the large-scale Chipimpa target, where integrated induced polarization (IP), electromagnetic (EM) and geochemical surveys have identified promising exploration potential.
In addition, assay results are still pending from recent exploratory diamond drilling completed at the Sharamba coincident anomaly target.
The ongoing exploration programme reflects Prospect Resources’ strategy of systematically expanding the mineral resource base across the Mumbezhi Project while evaluating multiple high-priority targets that could contribute to future resource growth.
