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Prospect has delivered a significant step-up in the value proposition at Mumbezhi over the June quarter, with a further update to the mineral resource estimate MRE. Sam Hosack Prospect Managing Director and Chief Executive Officer said the update is significant for two reasons.
“Firstly, it demonstrates the success of the gold re-assaying programme completed during Q1 2026 and confirms that gold mineralisation at Nyungu Central is both more extensive and consistent than previously understood.”
He said the emerging by-product opportunity offers the potential to enhance overall project economics by lowering the net copper unit cash cost profile of any future operation at Mumbezhi.
“Secondly, the update continues to reinforce the considerable scale potential of the Mumbezhi Project.”
Hosack said all three defined MRE’s remain open, providing a clear pathway for further resource growth. In addition, Prospect is actively pursuing the upside through Phase 3 drilling programme, which is now well underway.
“A key focus of the Phase 3 programme is targeting resource growth at our flagship Nyungu Central deposit through step-out drilling. This deposit continues to demonstrate growth potential, particularly in the shallower, up-dip zones to the southeast.”
Hosack said drilling is then planned to shift to other high-prospectivity areas within the broader ‘Nyungu Hub’, including first-pass testing of Nyungu West and a priority conductor northeast of Nyungu South.
“The Phase 3 programme also includes scout drilling of several high-priority regional targets, including Kamafamba, as well as the large-scale Chipimpa and Sharamba EM conductor targets. Both these EM targets exceed 2km of strike and exhibit scale, geometry, and conductivity characteristics comparable to those observed at Nyungu Central.”
Meanwhile the results from the overall Phase 3 drilling programme are expected to be received progressively throughout H2 2026.
“On the metallurgical front, updated testwork at Kabikupa has again delivered strong recoveries and high quality concentrates utilising a simple, conventional flowsheet comparable to existing regional operations.”
So far, the results were delivered across both transition and low-grade fresh mineralisation, affirming process amenability to a range of material and to a flow sheet comparable with existing plants operating in the region. And combined with the coarse primary grind size, the results strengthen confidence in the potential economic viability of a future operation at Mumbezhi and support progression to the next stage of technical studies.
“As we enter the second half of 2026, our focus is on advancing both exploration drilling and additional metallurgical testwork. These works, in parallel with a broad range of other technical workstreams in progress, are expected to support delivery of a Scoping Study for Mumbezhi in Q4 2026 / Q1 2027,” said Hosack.
Mumbezhi project is Prospect’s flagship copper development asset, located in the northwest of the country within the globally significant Copperbelt, one of the world’s most prolific copper-producing regions.
