Prospect Resources Extends Kabikupa Copper Deposit Over 1km Strike

Prospect Resources Extends Kabikupa Copper Deposit in Multiple Directions Prospect Resources (ASX:PSC) has announced significant extensions to its Kabikupa copper deposit at the Mumbezhi Copper Project in Zambia, with new drill results expanding the mineralisation footprint to over 1 kilometre in strike length. New Phase 2 Drilling Results Expand Copper Mineralisation Footprint The company has received assay results from 10 of 14 diamond holes (3,200m) completed at Kabikupa as part of its Phase 2 growth-focused drilling programme. These results have successfully expanded the deposit in multiple directions by: Extending the strike length to over 1km Confirming copper mineralisation closer to surface (up-dip) Expanding the resource at depth, following the shallow dip of the deposit Significant copper intercepts from the recent drilling include: 18.0m @ 0.59% Cu from 227m (KKDD011) 21.0m @ 0.48% Cu from 247m (KKDD010), including 10.0m @ 0.77% Cu from 256m 8.5m @ 1.06% Cu from 69.3m (KKDD015) 17.0m @ 0.33% Cu from 92.0m (KKDD006) These new results significantly expand the existing Kabikupa Inferred Mineral Resource estimate of 20.5 Mt @ 0.5% Cu, with an updated resource targeted for Q4 2025 after receipt of remaining assays. "Phase 2 drilling at Kabikupa has produced strong extensional results, confirming its significance to our strategy of materially growing the Mumbezhi Copper Project's scale. These findings build on the success of Phase 1 and highlight the effectiveness of Prospect's wider exploration plan in uncovering new copper resources in the region," said Prospect's Managing Director and CEO, Sam Hosack. Understanding Copper Mineralisation at Kabikupa The Kabikupa deposit features higher-grade zones with disseminated copper mineralisation hosted within a banded, mica-rich biotite feldspathic gneiss host rock. The mineralisation is logged as chalcopyrite-bornite (copper-iron sulphide minerals) and is constrained within a strong surface geochemical footprint. A key geological feature of the deposit is its shallow northeasterly dip, which makes it particularly amenable to potential future open pit mining operations. This shallow dip angle (approximately 25-35°) allowed the recent drilling programme to effectively test extensions along strike, up-dip (closer to surface), and down-dip (at depth). The drilling programme also identified the possibility of additional shallow-dipping footwall zones of copper mineralisation to the southwest of the present resource, which will be tested in future drilling at the deposit. Copper: A Critical Metal for Electrification Copper is an essential metal for the global transition to cleaner energy and electrification. As a reddish-orange metallic element in its pure form, copper serves as an excellent conductor of both heat and electricity. Its physical properties of being soft, malleable and ductile make it ideal for various applications. The metal has been used for various purposes dating back at least 10,000 years. Today, copper is primarily used in the electrical industry for wires, cables, and other electronic components. It is particularly critical for the green energy transition due to its extensive use in electric vehicles (EVs). EVs can contain up to 80kg of copper, which is four times the amount typically used in conventional vehicles with internal combustion engines. This increased copper content is necessary for the electrical systems, batteries, and charging infrastructure required for electric transportation. Beyond EVs, copper is essential for renewable energy systems, grid infrastructure, and energy storage solutions. The global push toward decarbonisation and electrification has significantly increased demand for copper, positioning it as a strategic metal for the future energy landscape. Mumbezhi Copper Project – A Growing Regional Opportunity The Kabikupa deposit forms part of Prospect's broader Mumbezhi Copper Project in northwest Zambia, where the company holds an 85% interest. The project is strategically located in the world-class Central African Copperbelt, in close proximity to several major mines hosted in similar geological settings. In March 2025, Prospect delivered a maiden JORC-compliant Mineral Resource estimate for Mumbezhi totalling 107.2 Mt @ 0.5% Cu for 514.6 kt of contained copper. The current Phase 2 drilling programme aims to significantly expand this resource base. The Mumbezhi Project area covers approximately 356 square kilometres of highly prospective tenure across two granted Large Scale Mining Licences (39445-HQ-LML and 39465-HQ-LML). These licences were granted for 25 years in March 2025, providing a solid foundation for long-term development. Exploration and Development Strategy The Phase 2 drilling programme continues across the broader Mumbezhi Copper Project, including at West Mwombezhi and Nyungu South. The company is also awaiting additional assay results from drilling at Nyungu Central. Prospect's approach combines resource expansion drilling with regional exploration efforts supported by strategic partner First Quantum Minerals. This dual focus aims to rapidly develop a major new copper asset within Zambia's key mining area, supporting the country's strategy to produce 3 million tonnes of copper annually by 2031. The company's exploration programme includes: Diamond drilling at key deposits to expand and upgrade existing resources Termite hill sampling at Induced Polarisation chargeability anomalies at various prospects New surface IP geophysical surveying at Kamafamba, Shikezi, Sharamba and Luamvunda Regional exploratory termite hill sampling at multiple target areas First-pass aircore drilling at several satellite prospects Recently, Prospect also completed a heliborne electromagnetic survey (EM) using New Resolution Geophysics' proprietary high-resolution 'Xcite' time domain system. This survey covered 1,112 line kilometres (approximately 370 km²) across the entire licence area, identifying significant conductors around Nyungu Central, Sharamba, and Nyungu South. Metallurgical Testing Demonstrates Processing Potential Metallurgical test work programmes conducted by Prospect on fresh sulphide and transitional mineralisation from Nyungu Central have produced encouraging results. Testing demonstrated copper concentrate grades of 25-32% Cu with high recoveries (81-96% Cu) from a coarse grind sizing of 250µm. Similarly, composite samples of sulphide mineralisation at Kabikupa produced high-grade copper concentrates at high recoveries from initial work conducted by Prospect in 2025. These positive metallurgical results provide further confidence in the project's economic potential. Why Investors Should Take Note Prospect Resources is positioning itself as an emerging player in the critical copper market at a time when global demand for the metal is rising due to electrification trends. The company offers several key investment considerations: Expanding Resource Base: The consistent expansion of the Mumbezhi Copper Project resource demonstrates the company's ability to execute on its strategy of identifying and developing significant copper deposits in a tier-one mining jurisdiction. Strategic Location: The project's location in the world-class Central African Copperbelt provides geological advantages and proximity to established mining infrastructure. Positive Metallurgy: Early metallurgical testing shows good recoveries and concentrate grades, suggesting favourable economics for future development. Long-term Tenure: With mining licences granted for 25 years, the company has secured long-term development rights for the project. Experienced Partners: Strategic partnership with First Quantum Minerals brings additional exploration expertise and regional knowledge. With multiple exploration targets still to be tested and an updated resource estimate expected in Q4 2025, Prospect offers investors exposure to potential significant resource growth in the coming months. The company's focus on copper also aligns with the growing global demand for this essential metal in the electrification and renewable energy sectors. Ready to Tap Into Zambia's Copper Growth Potential? Discover how Prospect Resources is strategically expanding its Kabikupa copper deposit and advancing the Mumbezhi Copper Project in one of the world's premier copper regions. With drilling extending mineralisation in multiple directions and positive metallurgical results, PSC offers compelling exposure to the critical metals powering global electrification. To learn more about this emerging copper opportunity and stay updated on their resource expansion progress, visit Prospect Resources' ASX announcements page.