Prospect Resources (ASX:PSC) kicks off 22,000m Phase 3 drilling at Newham Central in Zambia, targeting resource expansion beyond 300Mt and a scoping study by early 2027.
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Prospect Resources (ASX:PSC) has kicked off a 22,000-metre Phase 3 diamond drilling campaign in Zambia, with the bulk of the program focused on the Newham Central deposit. The company is targeting both resource expansion and infill drilling to support a scoping study.
Executive director of finance Ian Goldberg, speaking with HotCopper at the Africa Down Under conference, said the drilling is part of a broader push to translate regional exploration into a development case. Prospect aims to deliver a scoping study by the end of 2026, with publication expected in early 2027.
The company's current mineral resource stands at 208 million tonnes. Goldberg said the target is an updated mineral resource estimate before the end of 2026, with an ambition to push the resource beyond 300 million tonnes.
“We’re targeting about 350 million tonnes, hopefully once we get that resource out,” Goldberg said. “It’s an exciting time for us because there’s so much opportunity in our tenement where we can grow the resource.”
Goldberg noted that Zambia has been a major focus at this year's Africa Down Under, with strong interest in copper opportunities. The country's copper sector has drawn increased investor attention, and Prospect is positioning itself as a beneficiary of that trend. For a broader view of copper market dynamics, see AlphaScala's commodities analysis.
The Phase 3 drilling, the upcoming resource update, and the scoping study represent the near-term milestones the company is working toward, Goldberg said.
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