The Mumbezhi Copper Project attracts many descriptors, but the observation we hear most often is the pace at which
@ProspectResLtd is realising value. A brief recap is important.
We acquired the Mumbezhi licence in May 2024 and immediately commenced a well‑structured, intensive maiden exploration program.
This work culminated in our March 2025 maiden Mineral Resource Estimate (MRE), reporting 514,600 tonnes of contained copper (107.4 Mt at ~0.48% Cu), which placed the project firmly in the spotlight.
Throughout 2025, the team executed with precision—expanding the copper resource while identifying anomalous gold within the copper domains, reinforcing the scale potential of the system. Our exploration target remains 420–1,050 Mt at 0.4–0.6% Cu. The updated resource is in the final stages of sign off. This is major.
As my golfing mates would say, this is a perfect lay‑up for 2026. Our planning is anchored around three core value streams:
Growth at scale: Nyungu Central clearly demonstrates the scale to support a standalone operation (~12 Mtpa over an estimated 10‑year life of mine).
Primary targets: Advancing exploration at West Mwombezhi, with a maiden MRE expected within 2–3 months. On the gold front, we have completed roughly 25% of the work relative to copper data density, and this is expected to align with the West Mwombezhi MRE.
Tenement-wide opportunity: In addition to Nyungu South, two new highly prospective areas—Chipimpa and Sharamba—have been identified. Each exceeds 2 km in strike and exhibits scale, geometry and conductivity comparable to Nyungu Central.
This reflects the strength of our heli‑borne EM, soil geochemistry and the technical capability of our partners. Our broader exploration target now feels increasingly attainable.
The scale potential is compelling, the emerging gold story is increasingly exciting, and the revenue optionality this introduces is significant. Coupled with three major EM targets still to be drilled, we see a clear pathway to delivering the large‑scale tonnage our partners seek—central to unlocking the full exploration target and driving shareholder value.
We remain committed to positioning Mumbezhi as a premier standalone opportunity for
@ProspectResLtd to develop alongside majors seeking a high‑quality, scalable copper‑gold platform in Zambia—Africa’s safest and most attractive mining jurisdiction.