16th Oct 2026 07:53
Shuka Minerals PLC - Africa-focused mine operator and developer - Says laboratory results have once again confirmed "extremely" high grades at the Kabwe zinc mine in Zambia, specifically in the mine club and speaks area, which are well above those average grades previously reported. Latest lab results come from ALS Labs for the balance of the holes. Late last month, Shuka said it had received lab results for all five holes drilled in the pit 2 zone. "However, the results from the Sperm Whale target far exceeded pre-drill expectations," Shuka says on Friday.
The next phase of drilling will focus on increasing the density of "pierce points" into the No2 orebody in order to define a resource with a higher level of confidence, Shuka Chief Executive Officer Richard Lloyd says. Further drilling will also be undertaken to define the geometry of the new "Sperm Whale" deposit, Lloyd adds.
Stock price in London: 3.30 pence
12-month change: down 41%
Stock price in Johannesburg: 85 rand cents
12-month change: down 32%
By Artwell Dlamini, Alliance News senior reporter South Africa
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