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.