Prospect Resources Limited (ASX:PSC) Identifies High-Priority Drill Target at Nyungu South
High-Priority Drill Target Identified
Prospect Resources Limited (ASX:PSC) has identified Nyungu South as a high-priority drill target within the Mumbezhi Copper Project in north-west Zambia. This target forms the southern end of the 16km-long Nyungu Corridor and hosts a cohesive 400m x 400m undrilled bullseye geochemical anomaly.
Exploration Results
Recent termite hill sampling, coinciding with a chargeable IP anomaly, has revealed a geochemical anomaly with copper concentrations up to 442 ppm. Out of 1,213 samples collected, 65 were anomalous (≥150 ppm Cu) and 30 highly anomalous (≥200 ppm Cu). These findings validate the strong prospectivity of Nyungu South, positioning it as a priority for the upcoming Phase 2 drilling campaign set to commence in Q2 2025.
Phase 2 Drilling Schedule
Prospect plans to begin Phase 2 drilling at Mumbezhi in the second quarter of 2025, focusing on diamond core drilling aimed at expanding the Mineral Resource at existing deposits. The program will also include scout exploratory drilling at additional high-potential targets identified within the Nyungu North and West Mwombezhi Prospect areas.
Executive Comments
Prospect’s Managing Director and CEO, Sam Hosack, stated, “The high-quality field work being undertaken by our geological team during the Zambian wet season continues to deliver excellent results in the lead up to commencement of our Phase 2 drilling at Mumbezhi. The identification of this bullseye geochemical anomaly, directly overlaying a recently identified chargeable IP anomaly in this new target area of Nyungu South, delivers further validation of the strong prospectivity of this target, and its high-priority status for drill testing. We are excited about getting the rigs turning again next quarter and testing this region, along with the other high-potential targets we have generated, including within the Nyungu North and West Mwombezhi Prospect areas.”
Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended BHP Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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