Mumbezhi Copper Project

Mumbezhi Copper Project

356 sq km

On a single, granted Large Scale Exploration Licence

30km

Southwest of the Lumwana Copper Mine, in one of the most prolific copper mining regions globally

85% Interest

With GDC holding the 15% minority

Prospect recently announced its acquisition of the Mumbezhi Copper Project in Zambia (subject to the satisfaction of residual conditions precedent).

The Mumbezhi Copper Project is situated in the world-class Central African Copperbelt region of north-western Zambia. It is located on a single Large Scale Exploration Licence (30426-HQ-LEL), covering an area of approximately 356 square kilometres.

Mumbezhi is situated in an area highly prospective for large tonnage, low-to-medium grade copper-cobalt deposits. The Zambian Copperbelt region is one of the most prolific and prospective copper mining regions globally. Several other world-class copper mines are located in this region, including Sentinel to the west and Kansanshi to the east, both operated by TSX-listed First Quantum Minerals.

Mumbezhi is also notably located approximately 30 km southwest of Barrick Gold’s Lumwana Copper Mine, which contains predominantly fresh copper sulphide mineralisation. This ore is successfully treated through a conventional sulphide flotation plant to produce a saleable copper concentrate.

Previous exploration drilling of Mumbezhi was conducted over a period of 10 years by Orpheus Mining Limited, with 50 holes completed across the Nyungu deposits for approximately 9,330m drilled. Historical intercepts of copper-cobalt mineralisation have been described as extensive and located near surface, which demonstrates the potential for a low-cost, large-scale open pit mine development.

Preliminary metallurgical test work conducted historically also produced encouraging results that saw a copper concentrate grading 25.6% Cu at 87% recovery from conventional flotation test work on fresh sulphide ore composites.

Prospect intends to incorporate this historical exploration and metallurgical data into its planned exploration of this highly prospective and underexplored asset.

Location Map for Mumbezhi Copper Project in Zambia

Mumbezhi Copper and Cobalt Project in Zambia

Nyungu Copper-Cobalt deposits and surrounding targets

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