Prospect Resources Ltd

We're pleased to share this research report from Foster Stockbroking, highlighting our recently announced Maiden Mineral Resource Estimate (MRE) for the Mumbezhi Copper Project in Zambia and the granting of two Large Scale Mining Licences. ? Based on our recent drilling campaign, combined with historical results, the MRE delineates 107 million tonnes at a grade of 0.5% copper (+500kt cont. copper), with strong potential for expansion - an important step forward for the project. Additionally, the 25-year licences, renewable for successive terms, provide long-term tenure security, supporting project advancement, development and financing. ? Phase 2 drilling at Mumbezhi, set to commence in Q2 2025, will focus on expanding the resource base, targeting the Nyungu ‘Corridor’, Nyungu South, West Mwombezhi and Kabikupa. ? We invite you to read the full report by Foster Stockbroking and learn more about the future ahead for Prospect Resources. ? Full report here: https://bit.ly/4bKpYRI ? #ProspectResources #PSC #Copper #Zambia #Mumbezhi #MumbezhiCopperProject

Prospect Resources Limited unearths a well-defined 400m x 400m copper anomaly at Nyungu South, just 3km from Nyungu Central within Zambia's Mumbezhi Copper Project. Elevated geochemical readings up to 442ppm Cu overlap a previously mapped IP anomaly, highlighting significant upside ahead of Phase 2 drilling in Q2 2025. Managing Director Sam Hosack notes the high-quality field work continues to deliver excellent results, reinforcing the corridor's potential to extend beyond the existing 107.2Mt @ 0.5% Cu resource estimate. Read more: https://lnkd.in/gmkn9PQp

Termite hill geochemical sampling by Prospect Resources at the Mumbezhi copper project in Zambia has helped outline new priority targets ahead of Phase 2 drilling set to begin in Q2. #ASX Prospect Resources Limited

Prospect Resources has further upgraded a high-priority drill target at Nyungu South, part of the Mumbezhi Copper Project in north-west Zambia. This 400m x 400m undrilled geochemical bullseye anomaly, coinciding with a chargeable IP anomaly, is located approx. 3km south of Nyungu Central. It has been prioritised for drilling in the Phase 2 program, commencing Q2 2025. Nyungu South forms part of the 16km-long Nyungu ‘Corridor’, which hosts multiple high-potential targets. ? Termite hill geochemical sampling, a proven method in the Zambian Copper Belt, continues to generate valuable data across multiple target areas at Mumbezhi, while a structural geology study on Nyungu Central is underway by Tect Consulting. ? Our maiden Mumbezhi Mineral Resource estimate (107.2Mt @ 0.5% Cu) included only Nyungu Central and Kabikupa, highlighting the broader potential that exists within the project. ? Managing Director and CEO, Sam Hosack, commented: “The high-quality field work being undertaken by our geological team during the Zambian wet season continues to deliver excellent results in the lead up to commencement of our Phase 2 drilling at Mumbezhi.” Read the full announcement here: https://bit.ly/3FO7js1 ? #ProspectResources #PSC #Copper #Zambia #Mumbezhi #MumbezhiCopperProject

Our Country Manager, Mwelwa Manda, has provided a breakdown of the recently announced grant of two Large-Scale Mining Licences (LMLs) for our flagship Mumbezhi Copper Project in north-west Zambia. ? These 25-year licences, renewable for successive terms, provide long-term tenure security, supporting project advancement, development and financing. The LMLs enable full-scale mining, processing and export while allowing further exploration. The licences also qualify us for Zambia’s mining tax incentives, including capital allowances, structured royalties and VAT benefits. ? Phase 2 drilling at Mumbezhi, set to commence in Q2 2025, will focus on expanding the resource base, targeting the Nyungu ‘Corridor’, Nyungu South, West Mwombezhi and Kabikupa. ? We invite you to watch the video for further insights, as Mwelwa discusses the potential of our Mumbezhi Project and the future for Prospect Resources: https://lnkd.in/gMncPZZc ? #ProspectResources #PSC #Copper #Zambia #Mumbezhi #MumbezhiCopperProject

Prospect Resources is gearing up for an exciting Phase 2 drill program from Q2 2025 at our Mumbezhi Copper Project in Zambia, targeting high-priority IP anomaly targets in the Nyungu ‘Corridor’ and Kabikupa. Building on last week’s maiden Mineral Resource Estimate of 107.2Mt @ 0.5% Cu, recent geophysical survey interpretations have identified significant IP chargeability anomalies at Nyungu North, West Mwombezhi and Nyungu South. These anomalies represent key targets for further copper mineralisation, with the potential to enhance the scale and targeted economic viability of the Mumbezhi Project. ? Given the now-established strong correlation between chargeability anomalies and mineralisation observed in the Phase 1 drilling campaign, we are confident that further drilling will provide valuable insights into the broader copper endowment within the project area. ? We look forward to sharing further updates as exploration progresses. A sectional interpretation view of the IP anomaly at the West Mwombezhi Prospect is shown in Figure 17. ? Read the full announcement here: https://bit.ly/4hpvXfI ? #ProspectResources #PSC #Copper #Zambia #Mumbezhi #MumbezhiCopperProject

Our Corporate Development Manager, David Broomfield, spoke with Matt Birney from Bulls N' Bears on 6PR Perth about our recently announced maiden Mineral Resource Estimate (MRE) for the Mumbezhi Copper Project in north-west Zambia. ? He shares insights on this 107Mt @ 0.5% Cu MRE, containing 515kt of copper, with significant further growth potential. A new exploration target of 420Mt – 1Bt @ 0.4 – 0.6% Cu also highlights the scale of the broader growth opportunity at Mumbezhi. ? Phase 2 drilling, set to commence in Q2 2025, will include drill testing of the Nyungu North and West Mwombezhi targets, both showing strong geophysical anomalies. ? This is just the beginning - Mumbezhi has much more to offer. ? Listen here: https://bit.ly/3FtV8ki ? #ProspectResources #PSC #Copper #Zambia #Mumbezhi #MumbezhiCopperProject

Prospect Resources has been granted a pair of large-scale mining licences covering its Mumbezhi copper flagship project in Zambia’s copper belt. https://buff.ly/uZfmXwW #ASX Prospect Resources Limited

We are pleased to announce the granting of two Large-Scale Mining Licences (LMLs) for our Mumbezhi Copper Project in north-west Zambia. ? These 25-year licences, renewable for successive terms, provide long-term tenure security, supporting project advancement, development and financing. Unlike in Australia, where a mining licence is the final step before development, Zambia’s process allows for earlier certainty. ? With a maiden Mineral Resource of 107Mt at 0.5% Cu for 515,000 tonnes of contained copper, Mumbezhi is well-positioned to support Zambia’s goal of producing three million tonnes of copper annually by 2031. The LMLs enable full-scale mining, processing and export while allowing further exploration. The licences also qualify us for Zambia’s mining tax incentives, including capital allowances, structured royalties and VAT benefits. ? Drilling planned for Q2 2025 will focus on expanding the resource base, targeting the Nyungu ‘Corridor’, Nyungu South, West Mwombezhi and Kabikupa. ? Managing Director & CEO, Sam Hosack, commented: “The rapid grant of the LMLs over Mumbezhi is a testament to both the underlying opportunity presented by this asset as well as the professional and stakeholder-aware approach adopted by our team in Zambia. Like our recent tabling of a maiden Mineral Resource estimate and development of a substantial Exploration Target for the Project, the grant of these licenses represents another major milestone in our journey at Mumbezhi, delivering the inherent credibility attached to this more advanced and secure form of tenure.” ? Read the full announcement here: https://bit.ly/4izKyGJ ? #ProspectResources #PSC #Copper #Zambia #Mumbezhi #MumbezhiCopperProject

Tune in to radio 6PR Perth just after 11:50am AWST today (March 17th) and listen to ASX-listed Prospect Resources Limited David Broomfield talk on air to Bulls N' Bears about Prospect’s massive new copper resource – and it still has plenty more to give. Click the below 6PR link just after 11:50am AWST and press “LISTEN” to hear the interview live. https://lnkd.in/gsyXGfE9 $PSC #ProspectResources #BullsNBearsReport #BULLSNBEARSWA #ASX #MattBirney #MiningNews #Copper