Shuka Minerals (AIM/AltX: SKA) has reported the discovery of a previously unknown near-surface orebody at its Kabwe Zinc Mine in Zambia, with drilling identifying significant zinc alongside lead, copper and vanadium mineralisation.
Drill hole KBDD09, located a few hundred metres south of the existing Speaks and Mine Club zones, returned several substantial mineralised intervals.
Key preliminary XRF results include 26.6m at 8.30% zinc from 48.4m and 43.7m at 10.77% zinc from 75m. The latter included 10.8m at 18.30% zinc, while a 2.7m section averaged more than 28% zinc and 0.79% vanadium. Peak readings reached 64.95% zinc, with a separate 2.8m interval grading 5.4% lead.
A shallower interval also returned 10.45m at 3.35% zinc from just 2.95m depth, including copper mineralisation of up to 0.3%.
Importantly, Shuka said the newly identified orebody would be additional to previously reported resources at Speaks and Mine Club.
KBDD09 is the first of three holes targeting the discovery, with results from KB010 and KB011 expected in due course. The initial drilling campaign was expanded to 2,500 metres following encouraging results, with a second phase planned later this year.
The company cautioned that the current results come from portable XRF readings and will require confirmation through laboratory analysis to JORC/NI 43-101 standards.
Chief executive Richard Lloyd said the presence of zinc, lead, copper and vanadium within the same intervals could indicate richer mineral-bearing fluids and potentially a zonal structure to the wider Kabwe orebody.
