Shuka Minerals (AIM:SKA), the AIM and AltX-listed African mine operator and developer, has completed the tenth drill hole at its Kabwe Project in Zambia, targeting a previously unidentified orebody south of the mine's known Speaks and Mine Club zones.
KBDD10 intersected 61.5 metres of mineralisation from surface, grading 3.96% zinc, with a peak reading of 68% zinc, 4% lead and 0.34% copper.
That compares with the existing Behre Dolbear 2023 resource estimate for the neighbouring Speaks orebody, which sits at 12% zinc across 1.944 million tonnes of indicated and inferred material, underscoring how far the new intersections exceed grades already booked at Kabwe.
The hole included a high-grade basal zone of 2.20 metres at 16.90% zinc and an intermediate section averaging 6.69% zinc over roughly ten metres, with lead grades locally reaching 5.25%.
Geologists interpret the mineralisation as linked to a major shear or fault zone, distinct in character from the No. 2 Orebody, with boundaries defined along the contact between Mine Club sediments and footwall dolomite.
"68% zinc in situ ore is unlikely to require much metallurgical upgrade for sale," said chief executive Richard Lloyd, adding that the surface-level occurrence "may also enable an early-stage exploitation."
Lloyd said the orebody appears "more pipe like in geometry" based on two holes drilled at different azimuths, and that the results suggest the broader Kabwe deposit is materially larger than previously modelled.
The XRF assays await laboratory verification under JORC and NI 43-101 standards.
Shuka expects to report shortly on the final hole targeting the new orebody, KB011, alongside laboratory assay results from the Pit 2 area.
News Intelligence what this means for the company
Shuka Minerals' tenth drill hole at Kabwe intersected 61.5 metres of zinc mineralisation grading 3.96% zinc from surface, with a peak XRF reading of 68% zinc—far exceeding the 12% zinc grade in the neighbouring Speaks orebody resource estimate. The discovery follows a previously unknown orebody found a few hundred metres south of the Speaks and Mine Club zones, and the CEO suggests the surface-level, pipe-like geometry may enable early-stage exploitation without significant metallurgical processing, while assays await JORC and NI 43-101 verification.
If verified, the grades substantially exceed the existing resource base and the surface occurrence could materially shorten development timelines and reduce capex. However, the XRF readings remain unconfirmed by laboratory assay, and the company must still define the orebody's full extent and tonnage to assess whether it meaningfully expands Kabwe's economic case.
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