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Prospect Resources Limited (ASX:PSC)

ALERT: Price-sensitive ASX Announcement for PSC
Current share price for PSC : $0.235 -0.075 (-24.19%)+
Announcement
Release
13 May 2026 9:08AM
Price at Release
$0.310
Full Release
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Summary
Prospect Resources Limited has initiated the Phase 3 drilling program at its Mumbezhi Copper Project in the Zambian Copperbelt, focusing on increasing and upgrading the Mineral Resource Estimates at Nyungu Central and West Mwombezhi. The well-funded project, with around A$39 million in cash, involves approximately 26,000 meters of drilling across several prospects, aiming to establish new Inferred MREs. Supported by geophysical surveys, the program is set to enhance the resource base and provide materials for metallurgical testing, with an initial Scoping Study planned by end-2026.
Key Points
  • Prospect Resources Limited has commenced Phase 3 drilling at the Mumbezhi Copper Project in the Zambian Copperbelt.
  • The Phase 3 program includes approximately 60 diamond boreholes, 30 RC holes, and 320 exploratory aircore drill holes, totaling around 26,000 meters.
  • The drilling aims to extend and upgrade Mineral Resource Estimates at Nyungu Central and West Mwombezhi deposits.
  • New potential Inferred MREs are targeted for Kamafamba, Nyungu South, Sharamba, and Chipimpa prospects.
  • The project is supported by geophysical IP surveys in several key prospect areas.
  • The announcement highlights strong financial backing with approximately A$39 million in cash as of March 2026.
  • Prospect Resources aims to complete an initial Scoping Study for Mumbezhi by the end of 2026.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.