Prospect Resources (ASX:PSC) identified a correlation between historic chargeable induced polarization survey data for the Mumbezhi copper project in Zambia and mineralization reached during drilling by the firm, according to a Thursday Australian bourse filing.
The high-grade drilling intercepts from both the historical Argonaut Resources drilling and Prospect's drilling at the Nyungu Central deposit highly correlate with the survey data, per the filing.
The Mumbezhi mineral resource estimate is on track for completion during the first quarter, and the second phase of drilling is set to start during the second quarter.
The company prepared a comprehensive statutory reporting checklist to ensure full compliance with all environmental and regulatory requirements after receiving statutory reporting guidelines for its Environmental and Social Impact Assessment approval, the filing said.
Prospect Resources' shares rose past 2% in recent trading on Thursday.
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