Prospect Resources (ASX: PSC, FRA:5E8) has strongly validated the effectiveness of Induced Polarisation (IP) geophysics as a targeting tool at its Mumbezhi Copper Project in Zambia. The company’s evaluation of historical IP survey data, acquired at a nominal cost of $US4,000, from Anglo American over the Nyungu ‘Corridor’ and West Mwombezhi prospects, has shown an excellent correlation between historic chargeable IP data and mineralization drilled at the flagship Nyungu Central deposit. This reaffirms IP as a highly effective technique in this region of the Zambian Copper Belt. The historical data acquisition included the processing of 34km of data from the Nyungu Structural Corridor, and almost 10km of surveying over the West Mwombezhi prospect.
According to Prospect’s Managing Director and CEO, Sam Hosack, the interpretation of the historical Anglo IP data set has confirmed the effectiveness of IP as a targeting tool over Nyungu Central and has also identified a large southern anomaly that will significantly increase the exploration potential along the southern strike. Prospect’s recent IP programmes at Nyungu Central have also exhibited robust correlation with this historical data northwards within the northern strike corridor, strengthening the validation. The high-prospectivity IP anomalies, supported by strong geochemistry during H2 2024, provide a robust targeting methodology for planning Phase 2 Mumbezhi drill programme targets, scheduled to commence during H1 2025.
Furthermore, the company’s Environmental and Social Impact Assessment (ESIA) has been approved by the Zambia Environmental Management Agency, paving the way for the advancement of the project. Prospect has also applied for two Large-Scale Mining Licenses over the whole Mumbezhi Exploration license, which were submitted during December 2024 and are on track to be approved within the quarter.
Prospect Resources is currently undertaking extensive low-cost exploratory activities at the Mumbezhi Copper Project site during Q1 2025, including comprehensive termite hill sampling at Nyungu South. Metallurgical test work activities are also continuing with specialists Core Resources (Brisbane, Australia), focused on optimizing metallurgical recoveries. The maiden Mumbezhi MRE remains on track for completion during Q1 2025.
