Prospect Resources Ltd. ( (AU:PSC) ) has issued an update.
Prospect Resources Limited has announced a maiden Mineral Resource estimate for its Mumbezhi Copper Project in north-west Zambia, totaling 107.2 million tonnes at an average grade of 0.5% copper. This estimate, which covers the Nyungu Central and Kabikupa deposits, marks a significant milestone in the company’s exploration efforts. The project shows strong potential for further resource definition, with extensive exploration opportunities identified in the surrounding region. The company plans to commence a Phase 2 drilling program in Q2 2025 and is on track to receive large-scale mining licenses in Q1 2025, with a scoping study expected by Q4 2025. This development positions Prospect Resources strategically within the copper mining industry, potentially enhancing its market presence and offering promising opportunities for stakeholders.
More about Prospect Resources Ltd.
Prospect Resources Limited is a company operating in the mining industry, focusing primarily on the exploration and development of mineral resources. The company is engaged in the extraction of copper, with a significant project located in north-west Zambia.
YTD Price Performance: -1.10%
Average Trading Volume: 358,999
Technical Sentiment Consensus Rating: Hold
Current Market Cap: A$51.54M
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