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Prospect Resources Limited (ASX:PSC)

ALERT: Price-sensitive ASX Announcement for PSC
Current share price for PSC : $0.250 -0.04 (-13.79%)+
Announcement
Release
20 May 2026 8:40AM
Price at Release
$0.290
Full Release
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Summary
Prospect Resources Limited (PSC) has released an updated Mineral Resource Estimate (MRE) for their Mumbezhi Copper Project in north-west Zambia. The updated MRE shows a total of 208.1 million tonnes at an average grade of 0.42% copper, with a significant increase in gold resources by 106% and copper resources by 14%. Key deposits include Nyungu Central, Kabikupa, and West Mwombezhi, with the latter receiving its maiden MRE. The updated estimates reflect an increased tonnage and a higher copper equivalent grade of 0.49%. The project is focused on expanding both the copper and gold resources, with ongoing drilling and exploration programs targeting additional deposits and regional prospects. The company plans to continue metallurgical testing and exploration to further define and extend the resource base.
Key Points
  • Updated Indicated & Inferred Mineral Resource Estimate for Mumbezhi Project.
  • Total resources of 208.1 million tonnes at 0.42% copper and 0.49% copper equivalent.
  • 106% increase in gold resources to 262,100 ounces.
  • 14% increase in copper resources to 877,100 tonnes.
  • New maiden MRE for West Mwombezhi deposit.
  • Ongoing exploration and drilling programs aiming to expand resource base.
  • Conservative commodity pricing assumptions in resource calculations.
  • The project is situated in the Central African Copperbelt region of north-western Zambia.
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.