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Prospect Resources Ltd. ( (AU:PSC) ) has shared an update.
Prospect Resources has launched a Phase 3 drilling campaign at its 90%-owned Mumbezhi Copper Project in Zambia, targeting about 26,000 metres across diamond, reverse circulation and aircore holes. The programme aims to extend and upgrade existing resources at Nyungu Central and West Mwombezhi while systematically testing priority regional targets.
Key focus areas include the Nyungu ‘hub’ and regional prospects such as West Mwombezhi, Kamafamba, Sharamba, Chipimpa and Chalamba, supported by ground-based induced polarisation surveys to refine drill targeting. The initiative seeks to expand the current mineral resource base and deliver maiden resources at several prospects, reinforcing Prospect’s growth pipeline and leveraging the company’s solid funding position following a recent equity raise.
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 Limited is an ASX-listed exploration company focused on copper development in the world-class Zambian Copperbelt. The company’s flagship asset is the Mumbezhi Copper Project, where it is advancing multiple deposits and regional targets and is supported by a strong cash position to fund ongoing drilling and resource growth initiatives.
Average Trading Volume: 923,095
Technical Sentiment Signal: Buy
Current Market Cap: A$240.1M
Find detailed analytics on PSC stock on TipRanks’ Stock Analysis page.