Mumbezhi’s copper project value proposition scale up

LUSAKA – Prospect Resources has announced a significant boost to the value proposition of its Mumbezhi Copper Project, located in Zambia's mineral-rich North-Western Province. The Australian-listed explorer, focused on battery and electrification metals, reported a substantial update to its Mineral Resource Estimate (MRE) over the June quarter, underscoring the project's growing potential within the Central African Copperbelt. This development is particularly timely as Zambia intensifies its efforts to elevate its status as a global copper producer, aiming for an ambitious target of three million tonnes annually over the next decade. The updated MRE has seen Mumbezhi's indicated and inferred mineral resource increase to 208.1 million tonnes at 0.42% copper (0.49% CuEq), containing approximately 877,000 tonnes of copper. Crucially, the project has also defined maiden gold and cobalt resources at Nyungu Central, transforming Mumbezhi from a conventional copper exploration project into a multi-commodity development opportunity. This diversification significantly enhances the potential value that could be recovered from every tonne of ore mined, should future studies confirm commercial viability. Over 40% of the mineral resource is now classified as Indicated, providing a robust foundation for near-term development studies. Sam Hosack, Prospect Resources' Managing Director, emphasised the strategic importance of this development. "The significant step-up in the value proposition at Mumbezhi over the June quarter, with a further update to the mineral resource estimate MRE, is a testament to the hard work and dedication of our team," Hosack stated. His leadership has been instrumental in advancing the project, building on his extensive experience in the global resources sector, including previous operational roles in Zambia with First Quantum Minerals. Prospect's commitment to advancing Mumbezhi is aligned with Zambia's national economic aspirations, where copper remain