| Thu 18 Jun 2026, 8:00 | | SHUKA MINERALS PLC - Kabwe Drilling (‘KBDD04’) shallower hole hits western extension |
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Kabwe Drilling (‘KBDD04’) shallower hole hits western extension
SHUKA MINERALS PLC
(Incorporated in England and Wales)
(Registration number 05292528)
("Shuka Minerals" or "the Company")
ISIN Code: GB00BN47NP32
AIM Share Code: SKA JSE Share Code: SKA
Kabwe Drilling ('KBDD04') shallower hole hits western extension
Shuka Minerals Plc (AIM/AltX: SKA), an African focused mine operator and developer, is pleased
to announce that, further to the announcement on 10 June 2026, it has successfully completed
the fourth drill hole ("KBDD04") at the No.2 ore body at the Kabwe Zinc Mine ("Kabwe Project").
Drilling
The fourth diamond drill hole was planned as a shallow hole, at -50° at a bearing of 165° and was
designed to intersect the ore body at approximately 80m depth and to the west of previous
drilling. Historical plans show remaining medium to high grade blocks on the west side of the upper
part of the orebody that was partly stoped later in the life of the mine. These blocks are also
affected by pre-stoping sub-level development and KBDD04encountered a mining cross-cut
whilst in the ore zone. Given the shallow angle drilled, -50°, it was judged unwise to continue drilling
a void of >2 m width due to the danger of losing equipment downhole.
The actual readings from a down hole gyroscope survey revealed the hole was 110m deep, with
a final azimuth of 123.66° and a dip of 48.79°. This particular survey enables the Company to plot
not only the orebody location and dimensions but the location of underground workings in a 3D
model, and assists future planning.
The Company has commenced a fifth deep hole to intersect the orebody at 450m-500m depth.
As previously announced, the Behre Dolbear 2023 NI 43-101 report indicates that the No.2 ore
body has 3.1MT of ore remaining at grades of 11.4% zinc and 1.7% lead plus silver and vanadium
oxide.
Results
KBDD04 returned 6.86% zinc over 13.0 m from 106.60m to 119.65 m (down hole), based on an
arithmetic average of 40 pinpoint readings over the entire interval ranged from individual portable
XRF readings at 3 readings per metre of whole core.
Individual readings returned a maximum grade of 53.0% zinc with better point grades, averaging
40.09% zinc in the uppermost 9m of the orebody.
Mineralisation is typically associated with a weakly brecciated to semi-massive haematitic
ironstone mixed with mostly zinc silicate (probably Willemite) and lesser zinc carbonate minerals.
The footwall comprises moderately jointed and fractured massive dolomite with hematite stringers
and fracture-coatings that are believed to be the main hosts to zinc mineralisation.
These assays were taken with a calibrated XRF machine and will be verified in due course with
JORC/NI 43 101 laboratory analysis and testing. This intersection aligns with the Company's
objectives for its 2026 exploration programme aiming to increase the existing resource by 50%,
subject to the results of the drilling programme.
The GeoQuest geological team are on site with the Company's CEO, Richard Lloyd, who is
overseeing the initial (2,000 metres) phase of drilling. Drilling is being undertaken by Ox Drilling
Limited, a contractor with 21 years established operating experience in Zambia.
The Company will update on further progress as drilling advances.
Shuka Minerals CEO, Richard Lloyd, commented: "Despite terminating the hole slightly shallower
than expected, given the intersection with historical mine workings, I am delighted to report yet
another positive drill result with excellent grades. Hole KBDD04 intersected the ore body
approximately 70m west of the recent drilling and the results once again highlight the scale of the
world class Kabwe asset.
"The holes of our ongoing campaign continue to deliver some amazing Zn grades, with every
hole and intersection we are learning more and more about the orebody. It is also extremely
encouraging to continue to see much higher grades and over significant widths versus the
previously reported NI 43-101 resource. The upcoming drill holes will look to continue to prove the
ore body extending laterally and at depth."
Qualified Person
The technical information contained in this disclosure has been read and approved by Richard
Lloyd, a current Fellow of the Geological Society and a Fellow Institute of Metals, Minerals and
Mining and acts as a Qualified Person under the AIM Rules - Note for Mining and Oil & Gas
Companies.
This announcement contains inside information for the purposes of the UK Market Abuse
Regulation. The Directors of Shuka are responsible for the contents of this announcement.
ENDS
Shuka Minerals plc has its primary listing on the London Stock Exchange ("AIM") and a secondary
listing on the AltX of the JSE Limited.
LONDON
18 June 2026
For enquiries contact:
Shuka Minerals Plc +44 (0)7990 503 007
Richard Lloyd
Chief Executive Officer
Nominated Adviser +44 (0)20 7213 0880
Cairn Financial Advisers LLP
Sandy Jamieson / Ludovico Lazzaretti / James
Western
JSE Sponsor & Listing Advisor +27 (11) 480 8500
AcaciaCap Advisors Proprietary Limited
Michelle Krastanov
Broker +44 (0)20 7100 5100
Tavira Financial Limited
Oliver Stansfield / Jonathan Evans
Investor Relations +44 (0)208 892 8329
Olivia Lloyd
Caution:
Certain statements in this announcement, are, or may be deemed to be, forward looking
statements. Forward looking statements are identified by their use of terms and phrases such as
''believe'', ''could'', "should" ''envisage'', ''estimate'', ''intend'', ''may'', ''plan'', ''potentially'', "expect",
''will'' or the negative of those, variations or comparable expressions, including references to
assumptions. These forward-looking statements are not based on historical facts but rather on the
Directors' current expectations and assumptions regarding the Company's future growth, results
of operations, performance, future capital and other expenditures (including the amount, nature
and sources of funding thereof), competitive advantages, business prospects and opportunities.
Such forward looking statements reflect the Directors' current beliefs and assumptions and are
based on information currently available to the Directors.
SPONSOR
AcaciaCap Advisors Proprietary Limited
Date: 18-06-2026 08:00:00
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