Prospect Resources drilling success

Prospect Resources (ASX:PSC) has announced promising results from its Phase 1 diamond drilling at the Nyungu Central deposit in Zambia. The drilling program has revealed significant copper mineralization, including key intersections of 47.3 meters at 0.63% copper and 10 meters at 0.76% copper. These findings suggest potential for resource expansion.

Prospect Resources drilling program overview

Prospect Resources is progressing with its Phase 1 diamond drilling program at the Nyungu Central deposit in Zambia. The drilling has shown significant copper mineralization, suggesting potential for resource expansion. The company aims to complete approximately 21,000 meters of drilling, with an initial mineral resource estimate expected by Q1 2025. Additionally, ground-based IP surveys are being conducted over five regional targets, with plans for a Phase 2 drilling campaign in 2025. The company's ambitions are aligned with expanding their resource base, focusing on copper, a critical metal for electrification and green energy sectors.

Executive insights on drilling results

We are delighted with the strong drilling results at Nyungu Central and the potential at Kabikupa. These results give us confidence in the deposit's potential and we look forward to advancing our exploration efforts with a Phase 2 drilling campaign targeting additional regional IP targets in 2025.