Shuka Minerals Plc (AIM/AltX: SKA) has commenced Phase 1 drilling at the No.2 ore body within its Kabwe Zinc Mine project in Zambia, marking the start of a major exploration programme aimed at expanding the project’s resource base.
The company said the programme follows its previously announced 2026 exploration strategy, which is targeting a 50% increase in the existing mineral resource, subject to drilling results.
According to the 2023 NI 43-101 report prepared by Behre Dolbear, the No.2 ore body currently hosts an estimated 3.1 million tonnes of remaining ore grading 11.4% zinc and 1.7% lead, alongside silver and vanadium oxide mineralisation.
Management noted that the ore body remains open at depth, with the first diamond drill hole designed to intersect mineralisation below existing workings at approximately 220 to 230 metres depth.
In addition to zinc and lead, the company highlighted the presence of silver, vanadium, gallium and germanium at the No.2 ore body, commodities that were not previously prioritised during historical mining operations.
Shuka Minerals said further exploration and testing will now assess the broader commercial potential of these critical and technology-related minerals.
The initial drilling campaign will cover approximately 2,000 metres and is being overseen on-site by Chief Executive Richard Lloyd alongside the geological team from GeoQuest Limited.
Drilling operations are being carried out by Ox Drilling Limited, which has established operational experience in the region.
The company confirmed that drill core samples will initially be analysed using calibrated XRF technology, with selected samples subsequently sent to ALS Limited for full assay testing in accordance with JORC and NI 43-101 reporting standards.
Management said further updates will be provided as the drilling programme progresses.
