Shuka Minerals Plc (AIM/AltX: SKA) has reported exceptionally high-grade zinc results from its latest drilling programme at the Kabwe Zinc Mine in Zambia, including individual laboratory assays reaching 49.7% zinc and extensive mineralised intersections at the newly discovered Sperm Whale target.
The African-focused mining company received results from ALS Laboratories for six drill holes, KBDD06 to KBDD11, completed across the Speaks and Mine Club areas of the Kabwe project.
The standout results came from the previously untested Sperm Whale target, where drilling confirmed substantial zinc mineralisation across holes KBDD09, KBDD10 and KBDD11.
Hole KBDD09 returned 55.6 metres grading 12.09% zinc and 2.01% lead from 63.5 metres, including a higher-grade section of 6.7 metres at 29.45% zinc and 6.20% lead.
Hole KBDD11 delivered another significant intersection of 28.5 metres grading 15.99% zinc and 1.94% lead, including 12 metres at 26.63% zinc from 82 metres depth.
At KBDD10, drilling intersected 23.85 metres grading 4.49% zinc, alongside a narrower high-grade interval of 1.2 metres at 36.4% zinc.
Maximum individual drill-core assay grades reached 46.7% zinc at KBDD09, 41.2% at KBDD10 and 49.7% at KBDD11, confirming the presence of particularly high-grade mineralisation within the newly identified target.
The results exceeded management’s expectations and provide an encouraging basis for further drilling to determine the deposit’s geometry, continuity and potential resource contribution.
The previously identified Swimming Pool target also returned encouraging results, including 3.45 metres grading 8.09% zinc at KBDD08 and 1.4 metres at 12% zinc at KBDD06.
However, KBDD07 did not return any significant reportable intersections, highlighting geological variability across the exploration area.
Shuka said the laboratory results broadly support the elevated zinc readings previously obtained using portable X-ray fluorescence equipment, with samples independently analysed by ALS following established quality assurance procedures.
The latest findings could add to Kabwe’s existing mineral resource base, which includes historical estimates of 1.944 million tonnes at 12% zinc and 2% lead at Speaks, alongside 666,000 tonnes grading 11.7% zinc and 0.8% lead at Mine Club.
These indicated and inferred resources were reported in the 2023 Behre Dolbear NI 43-101 technical report, with the newly identified Sperm Whale mineralisation potentially representing an additional resource opportunity.
Further laboratory analysis is underway to determine the presence of other potentially valuable metals, including silver, vanadium, germanium and gallium, with results expected in due course.
Chief Executive Richard Lloyd said the laboratory results had confirmed exceptionally high zinc grades at Kabwe, particularly within the previously untested Sperm Whale area.
He highlighted that mineralisation was encountered throughout the three Sperm Whale drill holes, with grades increasing at depth, while the identification of a clear footwall contact could assist future mine planning and extraction.
Lloyd reiterated the company’s objective of increasing Kabwe’s previously reported remaining mineral resources by at least 50%, expressing confidence that further drilling could support or exceed that target.
The next exploration phase will focus on increasing drilling density at the No. 2 orebody to improve resource confidence, potentially upgrading mineral resources from inferred to indicated and measured categories.
Additional drilling is also planned at Sperm Whale to establish the size, shape and continuity of the newly discovered mineralisation.
For investors, the combination of high zinc grades, substantial mineralised intervals and potential resource expansion represents an important development for Kabwe, particularly given the project’s history of mining and existing geological information.
However, the latest drilling results do not yet constitute a new mineral resource estimate, and further technical work will be required to determine the scale and economic viability of the discovery.
Attention will now turn to additional drilling at Sperm Whale, resource definition work at the No. 2 orebody and outstanding assays for associated metals, as Shuka seeks to demonstrate the remaining mineral potential of the Kabwe project.
