Kabwe Drilling (“KBDD10”)
Shuka Minerals Plc has announced significant findings from its tenth drill hole, KBDD10, at the Kabwe Zinc Mine, revealing a new near-surface orebody. The drill hole returned 61.5 meters of mineralization from surface, with zinc grades averaging 3.96% and reaching a peak of 68.0%, alongside 4% lead and 0.34% copper. Notably, a basal zone yielded 2.20 meters at 16.90% zinc, and an intermediate section averaged 6.69% zinc. These results, based on portable XRF readings, suggest the new orebody is potentially larger and could enable early-stage exploitation due to its surface occurrence and high grades, adding to the previously reported 1.944 million tonnes at 12% Zn in the Speaks zone and 0.666 million tonnes at 11.7% Zn in the Mine Club zone.
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Shuka Minerals Plc (AIM/AltX: SKA), an African focused mine operator and developer, is pleased to announce that, further to the announcement on 13 August 2026, it has successfully completed the tenth drill hole KBDD10 in the newly identified area south of the unmined "Speaks" and "Mine Club" zones at the Kabwe Zinc Mine ("Kabwe Project").
Drilling:
The Company and consultants, GeoQuest, continued to drill a previously unknown, near surface, orebody a few hundred metres south of the Speaks and Mine Club areas.
KBDD10 represents the second of three exploratory drill holes, targeting this new ore body. The hole was drilled for 91.2m at a 60° dip on an azimuth of 010° as the Company seeks to further understand the dimensions of this new ore body.
Pinpoint XRF readings over the defined mineralised intervals ranged from 3.25-68.0% zinc ("Zn"). Lead ("Pb") is present as values ranging 1-5.25% Pb. Copper ("Cu") grades were also detected confirming the historically reported copper mineralisation.
The Behre Dolbear 2023 NI 43-101 report indicates that the Speaks orebody contains 1.944 million tonnes ("MT") of indicated and inferred resource at grades of 12% Zn and 2% Pb. The Mine Club orebody contains 0.666 MT of indicated and inferred resource at grades of 11.7% Zn and 0.8% Pb, plus silver and vanadium oxide. Copper mineralisation has also been reported in the northerly areas. This new ore body would be in addition to any previously reported resources and has been encountered at surface.
Geological interpretation of new orebody:
We have so far interpreted that Zinc mineralisation in this new area is associated with highly altered soft, and brecciated, iron oxide impregnated dolomite and silty argillaceous lithologies showing variable degrees of iron alteration, probably representing a major shear / fault zone.
Unlike the No.2 Orebody, Zinc mineralisation is associated with ill-defined breccias and zones of ferruginous fractures and iron-rich hematite alteration, often with poorly defined boundaries in bedded dolomite with intercalated argillaceous clastic sediments.
In a similar manner to the Mine Club area to the north penetrated by drill holes by KBDD06 to KBDD08, there is mineralisation along the basal contact of the Mine Club Sediments with footwall massive dolomite. The mineralisation beyond and into the footwall is sparse and confined to very occasional haematitic fractures carrying >1% Zinc. This is particularly helpful as it establishes clearer physical boundaries for the high-grade orebody.
Results:
KBDD10 - 61.5m @3.96% Zn from surface. A peak Zn reading of 68.0% was recorded, with 4%Pb and 0.34% Cu. Including a basal zone of 2.20m @16.90% Zn from 59.3 to 61.5m with readings from 1.2-68.0% Zn. and an intermediate section from 41.6 to 51.3m averaging 6.69% Zn with readings from 1.2% - 15.8% Zn. Anomalous lead was noted with short intervals carrying 1% to 5.25% Pb.
We will shortly report on the final drillhole KB011, which also targeted the new orebody and also the returning laboratory assay results from Pit 2 areas (KB001-KB005).
The GeoQuest geological team are finalising the reporting of the initial phase of drilling which was extended to 2,500m due to the excellent results received to date. Drilling has been undertaken by Ox Drilling Limited, a contractor with 21 years established operating experience in Zambia and we look forward to welcoming Ox back later in the year for Phase 2.
Shuka Minerals CEO, Richard Lloyd, commented:
"Encouragingly, the mineralisation is intersected at surface and with extremely high grades. 68% Zinc in situ ore is unlikely to require much metallurgical upgrade for sale. The surface mineralisation occurrences may also enable an early-stage exploitation. We only have 2 holes drilled into this orebody, but at very different azimuths in order to fully understand its characteristics, but it seems this ore body is more pipe like in geometry. These successful exploration holes continue to provide encouraging and valuable new insight into the broader Kabwe orebody, suggesting it is also materially larger than was first modelled."
Qualified Person
The Directors of Shuka are responsible for the contents of this announcement.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.