Prospect Resources Ltd. has upgraded its mineral resource estimate (MRE) for its Mumbezhi copper project in north-west Zambia, revealing a 20 per cent increase in overall tonnage and a massive doubling of its contained gold resource.
The updated indicated and inferred MRE now stands at a sizeable 208.1 million tonnes grading 0.42 per cent copper. When factoring in highly valuable cobalt and gold by-products, the polymetallic grade climbs to a Tier-1 copper equivalent of 0.49 per cent.
The total contained metal within the project footprint is now closing in on 900,000 tonnes of copper and 262,100 ounces of gold. The 106 per cent jump in gold content follows a successful core re-logging and re-assaying blitz completed during the first quarter of 2026.
The updated resource includes a maiden inferred estimate for West Mwombezhi, a shallow satellite deposit holding 115,000 tonnes of contained copper located 13 kilometres north of the flagship Nyungu Central deposit.
Prospect Resources CEO Sam Hosack said the massive potential of the project is rapidly emerging, with all three defined deposits remaining open along strike and down-dip.
“When this current mineralised footprint is coupled with the magnitude of prospectivity presented by our regional targets drilling focus this year, one starts to get a picture of the broader opportunity that exists at Mumbezhi and why I am so excited,” Hosack said.
“The by-product revenue potential at Mumbezhi, across both gold and cobalt, is material – delivering real opportunity to drive forecast operating costs down the global cost curve.”
With roughly 35 per cent of the flagship Nyungu Central deposit sitting in the high-confidence Indicated category, Prospect holds a robust foundation to progress its near-term development studies.
The explorer has already commenced its Phase 3 diamond drilling campaign to target further resource expansions.
Concurrently, regional explorer rigs have begun testing multiple large-scale targets, including Chipimpa and Sharamba, which mirror the geological signature of Nyungu Central.
