• Prospect confirms gold by-product potential at Mumbezhi copper project
• Drilling shows gold intercepts at Nyungu Central deposit
• Results to inform updated resource estimate by Q1 2026

Prospect Resources reported fresh exploration results from its Mumbezhi copper project in Zambia on Jan. 14, confirming gold as a potential by-product at the project’s flagship deposit as gold and copper prices trade near record highs.

Key intercepts included 0.21 grams per tonne of gold over 30 metres from 187 metres, and 0.60 g/t over 4.4 metres from 83.6 metres at the Nyungu Central deposit. The Australian company said it will incorporate the results into an updated mineral resource estimate due by the end of the first quarter of 2026.

“The confirmation of gold by‑product mineralisation at NyunguCentral creates a compelling new value lever for the Mumbezhi Project,” Prospect CEO Sam Hosack said. “This emerging multi‑commodity potential is particularly well‑timed, aligning with the recent uplift in investor sentiment and the strong, sustained price performance of both gold and copper in recent months.”

Gold rose more than 60% in 2025, ending the year around $4,500 an ounce. U.S. bank Morgan Stanley forecasts $4,800 by the fourth quarter of 2026. Copper did not post similar gains, but prices have firmed in recent months, breaking above $13,000 a tonne at the start of this year.

With prices strong, Prospect is expected to step up work to refine its understanding of Mumbezhi’s potential over the coming months. Beyond the resource update, this includes further drilling and the start of early-stage economic studies for a possible mine.

A maiden estimate published in March 2025 put Mumbezhi’s mineral resources at 107 million tonnes at a copper grade of 0.5%.

Emiliano Tossou