Shuka Minerals has successfully completed its third diamond drill hole, KBDD03, at the Number 2 orebody of its Kabwe Zinc Mine in Zambia, with results continuing to demonstrate strong zinc mineralisation and supporting the company’s resource expansion strategy.

The drill hole was designed at a dip of 65° and a bearing of 125°, targeting an intersection approximately 30 metres east of the mineralised zone encountered in KBDD01 at a depth of around 250 metres.

Following the successful completion of KBDD03, the company has commenced drilling a fourth hole aimed at intersecting the orebody in the western extension of the deposit.

Downhole gyroscope survey data confirmed that KBDD03 reached a depth of 240 metres, with a final azimuth of 123.66° and a dip of 65.49°. Shuka said the survey information is critical for accurately modelling the trajectory of the hole and defining mineralised zones within its three-dimensional geological model.

According to the 2023 Behre Dolbear National Instrument (NI) 43-101 report, the Number 2 orebody contains an estimated 3.1 million tonnes of remaining ore grading 11.4% zinc and 1.7% lead, together with silver and vanadium oxide credits.

High-Grade Zinc Intersections

KBDD03 returned an average zinc grade of 29.58% over a 19-metre interval between 221.1 metres and 240.1 metres downhole. The result was calculated from 62 portable X-ray fluorescence (XRF) readings taken at three measurements per metre across the entire core.

Individual readings across the interval ranged from 1% to 53% zinc, with the uppermost nine metres averaging an impressive 40.09% zinc.

Shuka reported that mineralisation is predominantly associated with weakly brecciated to semi-massive hematitic ironstone containing abundant zinc silicate minerals, likely willemite, together with lesser zinc carbonate mineralisation.

The footwall consists mainly of moderately fractured massive dolomite with hematite stringers and coatings along fractures, which are believed to be important hosts for zinc mineralisation.

The company noted that the XRF results were obtained using a calibrated instrument and will be validated through independent JORC- or NI 43-101-compliant laboratory testing.

Resource Growth Target

The latest intersection supports Shuka’s 2026 exploration objective of increasing the existing mineral resource by 50%, subject to the outcome of the ongoing drilling campaign.

The drilling programme is being overseen on site by CEO Richard Lloyd and the GeoQuest geological team as part of an initial 2,000-metre drilling phase. Drilling activities are being carried out by Zambia-based contractor Ox Drilling, which has more than two decades of operational experience in the country.

Shuka said additional updates will be released as the programme progresses.

“The follow-up holes in our campaign continue to deliver excellent zinc grades, and with every intersection we are gaining a better understanding of the orebody,” Lloyd said.

“It is particularly encouraging to continue seeing significantly higher grades and substantial widths compared with the previously reported NI 43-101 resource. The upcoming drill holes will focus on confirming the lateral and depth extensions of the orebody.”