26th Aug 2026 11:27
Shuka Minerals PLC - Africa-focused mine operator and developer - Identifies the new ore body after completing eleventh and final drill hole in the newly identified area south of the unmined 'speaks' and 'mine club' zones at the Kabwe zinc mine in Zambia. "Again we have extremely high grade, from surface mineralisation," Shuka Chief Executive Officer Richard Lloyd says. Adds 70% Zinc in situ grades are among the highest grades recorded worldwide at any orebody.
The surface mineralisation may enable early-stage exploitation, and the company will return to this area in phase two, Lloyd says. "The final 3 exploration holes were an added bonus to the campaign and define a much more extensive Kabwe orebody than was first modelled," he says. Shuka started conducting the drilling in late May.
Current stock price in London: 3.02 pence, down 2.6% on Wednesday morning
12-month change: up 18%
Current stock price in Johannesburg: 63 rand cents
12-month change: down 36%
By Artwell Dlamini, Alliance News senior reporter South Africa
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