Prospect Resources Expands Copper Deposit with Gold Discovery at Mumbezhi

Prospect Resources' Nyungu Central Copper Deposit Expands, Revealing Gold Potential

Prospect Resources (ASX:PSC, FRA:5E8) has announced significant expansion of its flagship Nyungu Central copper deposit at the Mumbezhi Project in Zambia, with drilling results extending the deposit's footprint to over 1.5 kilometers in length.

Latest Drilling Validates Nyungu Central's Growth Potential

Recent drilling has successfully expanded the Nyungu Central deposit at both its southern and northern extremities, confirming the company's belief in the asset's scale potential. The latest results highlight not only copper mineralisation but also emerging gold prospectivity that could enhance the project's economic value.

Key intercepts from the ongoing drilling program include:

• NCDD011: 20.9m @ 0.70% Cu from 226m and 14.4m @ 0.45% Cu from 83.6m, including 4.4m @ 0.60 g/t Au from 83.6m
• NCDD015: 36.0m @ 0.33% Cu from 52m

"As we approach the end of our defining Phase 2 drilling campaign at Mumbezhi, it is pleasing to be delivering results. Growing the strike extent of our flagship Nyungu Central deposit is expected to generate material resource expansion, along with the down-dip extensions and delineation of new lodes delivered through this year's drilling." – Sam Hosack, Managing Director and CEO

Gold Discovery Adds New Dimension

A significant development in the latest drilling is the identification of anomalous gold values at Nyungu Central. Following metallurgical work that indicated gold deportment in the transition zone, the company has now systematically assayed for gold in recent drilling.

The encouraging gold results in hole NCDD011 have prompted Prospect to re-assay existing pulp samples from the oxide-transitional zones across the deposit for gold, which could provide additional economic value to the project.

This initiative was driven by recent metallurgical test work results indicating gold deportment in the transition zone at Nyungu Central, and the subsequent upgrade of gold into copper concentrate at potentially saleable by-product credit values.

Kabikupa Deposit Drilling Confirms Additional Mineralisation

Final assay results from the Phase 2 drilling at Kabikupa also returned promising intervals:

• KKDD018: 13.0m @ 0.50% Cu from 138m
• KKDD014: 13.0m @ 0.31% Cu from 37.0m, including 5.0m @ 0.48% Cu from 42.0m

These results will contribute to an updated Mineral Resource estimate expected later this quarter.

Comprehensive Exploration Program Nearing Completion

Prospect's Phase 2 drilling program at Mumbezhi is approaching completion, with over 13,300 meters of diamond drilling completed to date across 54 holes. The company is currently awaiting assay results from four additional holes at Nyungu Central, as well as from drilling at West Mwombezhi and Nyungu South.

The drilling program has been complemented by approximately 3,500 meters of shallow aircore drilling, which has proven effective in delineating new subsurface targets across the property. This cost-effective drilling technique covers wide areas of prospective ground rapidly and will be utilised more extensively during Phase 3 drilling in 2026.

Additionally, surface IP geophysical surveys have been completed at Kamafamba and Luamvunda, and are nearing completion at Shikezi, further enhancing the company's understanding of the property's geological structure.

Understanding Copper's Role in the Energy Transition

Copper is rapidly emerging as one of the most critical metals for the global energy transition. As the world moves toward electrification and renewable energy, copper demand is projected to increase substantially due to its unique properties.

Essential Properties and Applications

Copper is a reddish-orange coloured metallic element that possesses several valuable properties:

• Excellent electrical conductivity: Copper is one of the best conductors of electricity, making it essential for electrical wiring, cables, and components.
• Thermal conductivity: Its ability to efficiently transfer heat makes it valuable for thermal applications.
• Malleability and ductility: Copper can be easily shaped into wires, sheets, and complex components without breaking.
• Corrosion resistance: It forms a protective patina that prevents further degradation, providing longevity in various applications.

Electrification and Transport

The electric vehicle (EV) revolution is a significant driver of copper demand. EVs can contain up to 80kg of copper—four times the amount found in conventional internal combustion engine vehicles. This copper is used in:

• Battery systems
• Electric motors
• Inverters and converters
• Wiring harnesses
• Charging infrastructure

Renewable Energy Systems

Copper is also fundamental to renewable energy generation and transmission:

• Solar power systems use copper in inverters, wiring, and heat exchangers
• Wind turbines contain up to 4 tonnes of copper in generators, transformers, and cabling
• Energy storage systems rely on copper for connections and thermal management

As countries globally pursue carbon reduction goals, the demand for copper is expected to grow substantially, potentially creating supply constraints in the medium to long term.

What's Next for Prospect Resources

Prospect has an ambitious timeline for upcoming milestones at the Mumbezhi Project:

• Completion of Phase 2 drilling in the near term
• Updated Mineral Resource estimates for both Nyungu Central and Kabikupa deposits expected in late Q4 2025
• Results from airborne electromagnetic surveys and license-wide soil sampling expected this quarter
• Planning already underway for Phase 3 drilling in 2026
• Initial metallurgical results from Kabikupa expected in December

The company's methodical approach to exploration and resource development is creating multiple pathways to value creation as it works toward commercial copper production.

Why Investors Should Follow This Development

Prospect Resources' systematic expansion of its Mumbezhi Project represents a compelling opportunity in the copper sector at a time when demand for the metal is projected to increase significantly. The company has:

• Expanded deposit footprint: Successfully extended its flagship Nyungu Central deposit to over 1.5km in length
• Discovered potential gold credits: Identified gold values that could enhance project economics
• Clear path to resource growth: Updated estimates expected soon with multiple prospects being explored
• Strategic location: Positioned in the mining-friendly jurisdiction of Zambia within the world-class Central African Copperbelt

The Mumbezhi Project currently has a maiden Mineral Resource estimate of 107.2Mt @ 0.5% Cu for 514.6kt of contained copper, with the Phase 2 drilling program expected to increase this figure.

The combination of expanding copper resources, potential gold by-product credits, and copper's critical role in the energy transition positions Prospect Resources to potentially benefit from growing global demand for copper as it advances the Mumbezhi Project toward development.

With Phase 2 drilling nearing completion and updated Mineral Resource estimates expected later this quarter, investors may want to monitor Prospect's progress as it continues to define and expand its copper assets in Zambia.

Want to Gain Exposure to Critical Copper Markets Through a High-Potential ASX Explorer?

To learn more about Prospect Resources' expanding Nyungu Central copper deposit, emerging gold potential, and strategic position in Zambia's prolific Copperbelt, visit their ASX announcements page at prospectresources.com.au/asx-announcements/. With copper demand projected to surge amid the global energy transition, now is an opportune time to discover how PSC is methodically building value for shareholders through its systematic exploration and resource development at the Mumbezhi Project.