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An update from Prospect Resources Ltd. ( (AU:PSC) ) is now available.
Prospect Resources has reported further encouraging gold results from re-assaying 50 drill holes at the Nyungu Central deposit within its Mumbezhi Copper Project in Zambia. The assays confirm widespread gold mineralisation associated with copper, with notable intercepts including 29m at 0.22 g/t and 27.7m at 0.21 g/t, and additional cobalt credits identified across the system.
These gold and cobalt by-products are expected to materially improve the project’s forecast economics by lowering operating costs and will be incorporated into an updated Indicated and Inferred mineral resource estimate for Nyungu Central due in the June quarter. Prospect is also preparing to launch a Phase 3 drilling campaign in early May aimed at extending Nyungu Central, testing the broader Nyungu Hub, and undertaking initial drill tests on large-scale regional EM conductor targets such as Chipimpa and Sharamba.
The most recent analyst rating on (AU:PSC) stock is a Buy with a A$0.60 price target. To see the full list of analyst forecasts on Prospect Resources Ltd. stock, see the AU:PSC Stock Forecast page.
More about Prospect Resources Ltd.
Prospect Resources Ltd. is an ASX-listed mineral exploration and development company focused on the Mumbezhi Copper Project in north-west Zambia, where it holds a 90% interest. The company is advancing the Nyungu Central deposit, targeting large-scale copper resources with additional gold and cobalt by-product potential to enhance project economics.
Average Trading Volume: 1,218,468
Technical Sentiment Signal: Buy
Current Market Cap: A$248.3M
Find detailed analytics on PSC stock on TipRanks’ Stock Analysis page.