• Prospect finds IP surveying to be an effective, low-cost targeting tool at the Nyungu Corridor
• Historical IP anomaly found to correlate with high-grade Phase 1 drill intercepts at Nyungu Central
• Metallurgical testwork is continuing while Phase 2 is scheduled to start during Q2 2025

Special Report: Prospect Resources has identified induced polarisation surveys as a low-cost yet effective targeting tool at the Nyungu Corridor prospect within its Mumbezhi copper project in Zambia.

This follows the discovery of excellent correlation between historical chargeable IP data acquired by Anglo American over its flagship Nyungu Central deposit and mineralisation intersected by its Phase 1 drilling.

Prospect Resources (ASX:PSC) has since found robust correlation between historical chargeable IP data and its 2024 IP programs at Nyungu Central northwards within the northern strike corridor.

Managing director Sam Hosack said that after its IP program in 2024 was unable to extend over Nyungu Central during drilling, its geologists processed all available data including the historical Anglo IP data that confirmed the effectiveness of IP as a targeting tool over Nyungu Central.

“This targeting tool is particularly repeatable in this part of the Central African Copper Belt and in addition to increasing the Mumbezhi data set and our broader understanding, the interpretation has also identified a large southern anomaly that will in future significantly increase the exploration potential along southern strike,” he added.

“The high-prospectivity IP anomalies identified within the Nyungu ‘Corridor’ last year, supported by strong geochemistry during H2 2024, gives us a robust targeting methodology in planning exploration drilling targets for the Phase 2 Mumbezhi drill programme, scheduled to commence during H1 2025.

“These targets increase the potential to grow the copper mineralisation footprint in the western part of the Mumbezhi licence quickly and substantially beyond the existing Nyungu Central deposit.”

Historical data

The raw data from the two historical surveys carried out by Anglo – 24km2 along 11km of strike within the Nyungu Structural Corridor and 16km encompassing Nyungu South, Nyungu Central and most of Nyungu Nort – were retrieved, reprocessed, and reinterpreted for a nominal cost of US$4000.

Anglo’s work overlapped the IP work completed by PSC over much of Nyungu North and, most importantly, the entire area of the recently drilled Nyungu Central copper deposit footprint.

The company notes that the correlation between its and Anglo’s data is impressive and compelling given the length of time between the surveys, difference in survey line spacing, and improvements in equipment.

It pointed out that the most important aspect of the data was the IP anomaly over the Nyungu Central deposit that highly correlates with high-grade drill intercepts from both historical work by Argonaut Resources and the company’s Phase 1 drilling.

This is intriguing as the Anglo IP data has highlighted areas adjacent to the north and south of Nyungu Central that have had little effective drilling to date and present as high-priority expansion targets.

Nyungu North was first identified by PSC’s surveying over a 6km long prospective zone directly along strike to the northeast of the Nyungu Central deposit and immediately adjacent to the northern end of Phase 1 drilling.

This has been validated by the Anglo IP data, which covered a similarly significant strike length, indicating considerable prospectivity for copper mineralisation presenting as chargeable sulphides at depth over a strike length exceeding 10km.

Drilling of this corridor at Mumbezhi had previously been intermittent at best and was commonly informed by residual soil geochemistry, rather than the termite mound sampling that the company has used to considerable success to date.

The company adds that while the historical Nyungu South deposit about 3.5km south-southwest of Nyungu Central was not targeted by its drilling in 2024, the Anglo IP shows very interesting chargeable anomalies that were not drill targeted by any previous owners of Mumbezhi.

While ARE had drilled 10 holes using Anglo IP and surface geochemical soil data available at that time, the recent reinterpretation of the IP data indicates a far more extensive chargeable anomaly about 1km north of that targeted by the previous operator.

Pending results from comprehensive termite mound sampling currently underway at Nyungu South indicates the area ~500m north of the historical drilling coverage could represent a new walk-up drilling target for the company’s proposed Phase 2 program.

Other activity

Following approval of the Environmental and Social Impact Assessment, the company has formulated a comprehensive statutory reporting checklist to ensure full compliance with all environmental and regulatory requirements after receiving the statutory reporting guidelines, and all conditional items.

It also expects that two Large-Scale Mining Licences that it had submitted over the whole Mumbezhi licence during December 2024 to be approved this quarter.

PSC adds that it has used the current wet season in northern Zambia to conduct extensive low-cost exploratory activities at Mumbezhi.

This includes comprehensive termite hill sampling at Nyungu South, where results will be reported once all spatial data has been collated.

Its sampling teams have now moved to the southern end of Nyungu Central, where historical Anglo IP data has indicated a distinctive, shallow chargeable “lobe” with no effective drilling.

Additionally, geological teams are relogging historical drill core it purchased in 2024 to standardise logging information and resample areas of the core that are deemed prospective for the presence of mineralisation.

The company also expects to receive the final report of highly regarded consultancy TECT’s evaluation on the 3D modelling of Mumbezhi’s geology and structural characteristics.

Metallurgical test work activities continue with specialists Core Resources using drill core from Nyungu Central. This is focused primarily on optimising metallurgical recoveries in the fresh (sulphide) and transitional mineralisation. Initial results are expected during April.

Phase 2 drilling is scheduled to start during Q2 2025.

This article was developed in collaboration with Prospect Resources, a Stockhead advertiser at the time of publishing.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.