Assays from six of thirteen Phase 3 holes at Nyungu Central are pending. Regional targets Kamafamba and Chipimpa are scheduled for later this quarter. Hosack described the intercepts as 'wide and high-grade relative to the existing resource.'
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Prospect Resources (ASX:PSC) reported wide, high-grade copper intercepts from the third-phase drilling program at Nyungu Central, part of the Mumbezhi Copper Project in north-west Zambia. The results extend mineralisation beyond the current Mineral Resource estimate.
Managing director and CEO Sam Hosack told shareholders the intercepts are shallow, up-plunge, and remain open to the southeast. Drill hole NCDD026 returned 44 metres at 0.6% copper from 270 metres, plus a separate 1.74-metre interval at 0.36% copper. Hole NCDD024 intersected 17 metres. Assays are pending for six of the thirteen Phase 3 holes completed so far.
"Despite the sizeable existing resource defined at Nyungu Central, the growth potential of our flagship deposit remains compelling," Hosack said. He called the intercepts "wide and high-grade relative to the existing resource" and said they "demand attention."
The company has one diamond rig operating at the southern end of Nyungu Central targeting shallow mineralisation outside the existing Indicated and Inferred categories. A second rig has started work at the Nyungu West prospect. A 600-metre infill program at Nyungu Central is scheduled for late July.
Regional exploration at Kamafamba and the Chipimpa IP-EM-geochemistry target is planned for later this quarter. Assays from drilling at the Sharamba anomaly target are still pending.
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PSC shares were down 3.7% in afternoon trade.
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