Prospect Resources Identifies Gold Mineralization at Zambia Copper Project

MT Newswires Live

Apr 14

Prospect Resources (ASX:PSC) said it identified gold mineralization during a recent drilling at its Mumbezhi copper project's Nyungu Central deposit in Zambia, according to a Tuesday Australian bourse filing.

The results were up to 23.1 meters at 0.55 grams per tonne grade of gold from 82.9 meters and 17 meters at 0.17 g/t gold from 47 meters.

The results are in addition to the initial 32 re-assayed holes reported in January, the filing added.

The company said receipt of gold results from the 26 remaining re-assayed holes is expected in late April.

The company added that the widespread nature of the gold, coupled with in-situ cobalt, delivers "strong" potential to upgrade the Mumbezhi copper project economics via significant by-product credits, with all new gold results to be incorporated into an updated mineral resource estimate for Nyungu Central expected during the second quarter.

The company's shares rose 2% in recent Tuesday trade.

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