23rd Sep 2026 09:07
Shuka Minerals PLC - Africa-focused mine operator and developer - Says it has received laboratory results for all five holes drilled in the pit 2 zone of the Kabwe zinc mine. Based on a 5% zinc grade cut-off, which Shuka has deemed more appropriate than the historical 10% cut-off, the company is eyeing a significant increase in historically reported and current resources.
Shuka reports that the number two orebody contains about 2.0 million tonnes of indicated and inferred resources, graded at 12% zinc and 2% lead, down to 300m depth, out
of a total estimated remaining tonnage of about 3.0 million tonnes. It also notes "significant silver and vanadium oxide" with analysis currently underway to determine deposits of silver, vanadium, germanium and gallium.
Richard Lloyd, chief executive of Shuka, says the improved results may reflect improved lab testing capabilities since the historic resource. Lloyd adds: "These results give the board confidence in a significantly increased mineral resource and supports the company’s statement that we are looking to increase the historical resource at Pit 2 by at least 50%."
Current share price in London: 3.73 pence
12-month change: down 0.7%
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12-month change: down 23%
By Holly Munks, Alliance News reporter
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