Announcement • Jul 15
Shuka Minerals Plc Completes Eighth Drill Hole KBDD08 and Reports 3% Copper Mineralisation at Kabwe Project Shuka Minerals Plc has successfully completed the eighth drill hole KBDD08 in the previously unmined "Speaks" and "Mine Club" zones at the Kabwe Zinc Mine ("Kabwe Project"). The Company and consultants, GeoQuest, planned these exploration holes to intersect a different, previously unexploited orebody in the Speaks and Mine Club areas some 1km+ NW from the Pit 2 area where the Company has been focussing its studies to date. KBDD08 represents the third exploratory drill hole, targeting the more central part of the Speaks /Mine Club area which represents the northern extension of the old (and a previously unexploited section) of the Kabwe Zinc-Lead-Copper deposit. The hole was planned for 200m at a 50° dip on an azimuth of 130°. The actual readings from a down hole gyroscope survey revealed the hole was 191.1m deep, with a final azimuth of 131.65° and a dip of 48.6°. Pinpoint XRF readings over the defined mineralised intervals ranged from 1 - 22% zinc ("Zn"). Lead ("Pb") is present as values ranging 0.1 - 3.3% Pb. Copper ("Cu") grades of up to 3.00% were also detected in line with the historically reported copper oxide mineralisation. The Behre Dolbear 2023 NI 43-101 report indicates that the Speaks orebody contains 1,944,000 tonnes ("MT") of indicated and inferred resource at grades of 12% Zn and 2% Pb. The Mine Club orebody contains 666,000 MT of indicated and inferred resource at grades of 11.7% Zn and 0.8% Pb, plus silver and vanadium oxide. Copper mineralisation has also been reported in the northerly areas. KBDD08 - 18.67m @2.05% Zn from 87.66 to 106.33m. A peak Zn reading of 9.17% was recorded. KBDD08 - 3.66m @8.27% Zn & 0.93% Cu from 125.33 to 128.99m. Peak Zn readings of 22.0% and 3% Cu were recorded. KBDD08 - 5.66m @4.18% Zn from 152.33 to 157.99m. A peak reading of 21.55% Zn was recorded. 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. The results are based on the arithmetic average of individual portable XRF pinpoint readings through the defined zone at a typical regular data spacing of 3 readings per meter of whole core. The mineralisation thickens in the central part of the northerly area and the copper oxide mineralisation the Board expected in the central and southern areas of Speaks and Mine Club is appearing. The Company will continue to drill (KB009 and KB010) to target the southern areas of the underexplored Mine Speaks and Club orebodies. The GeoQuest geological team are on site with the Company's CEO, Richard Lloyd, who is overseeing the initial phase of drilling which has now been extended to 2,500m due to the excellent results received to date. 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. 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 of the Institute of Materials, 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. Announcement • Jul 10
Shuka Minerals Plc Completes Sixth And Seventh Drill Holes KBDD06 And KBDD07 At Kabwe Zinc Mine Shuka Minerals Plc has successfully completed the sixth and seventh drill holes KBDD06 and KBDD07 in the previously unmined "Speaks" and "Mine Club" zones at the Kabwe Zinc Mine ("Kabwe Project"). The Company and consultants, GeoQuest, planned these exploration holes to intersect a different, previously unexploited orebody in the Speaks and Mine Club areas some 1km+ NW from the Pit 2 area where it have been focussing its studies to date. The anticipated depths of these drill holes will be at 150-275m. KBDD06 drilled to a depth of 269m represents the first exploratory drill hole into the northern part of the Speaks /Mine Club area which represents the northern extension of the old (and a previously unexploited section) of the Kabwe Zinc-Lead-Copper deposit. The hole was planned at a 50° dip on an azimuth of 050°. The actual readings from a down hole gyroscope survey revealed the hole was 269.1m deep, with a final azimuth of 48.73° and a dip of 51.32°. It intersected a sequence of massive to banded dolomites, the Kabwe mineralisation host rock, with mineralised veins from 55 to 91m downhole and 160 to 193m downhole. KBDD07 drilled to a depth of 173.10m represents further exploratory drilling into the northern part of the Speaks /Mine Club area. The hole was planned at a 75° dip on an azimuth of 090° from the same collar position as KBDD06. The actual readings from a down hole gyroscope survey revealed the hole was 173.8m deep, with a final azimuth of 93.26° and a dip of 73.88°. Three mineralised zones were intersected at 20 to 25m, 83 to 88m and 140 to 142m downhole. The Behre Dolbear 2023 NI 43-101 report indicates that the Speaks orebody contains 1.944 million tonnes ("MT") of indicated and inferred resource at grades of 12% Zn and 2% Pb. The Mine Club orebody contains 0.666 MT of indicated and inferred resource at grades of 11.7% zinc ("Zn") and 0.8% lead ("Pb") plus silver and vanadium oxide. Copper mineralisation has also been reported in the northerly areas. KBDD06 - 8.33m @1.69% Zn from 55.66 to 63.99m. A peak Zn reading of 11.24% was recorded. KBDD06 - 6.00m @4.57% Zn from 84.66 to 90.66m. Peak Zn readings of 21.05%, 20.84% & 22.80% occurred across 1m of core. KBDD06 - 4.33m @1.65% Zn from 160.33 to 164.66m. Pinpoint readings ranged from <1.00% to 4.96% Zn. KBDD06 - 5.33m @1.34% Zn from 187.33 to 192.66m. Pinpoint readings over the interval ranged from <1.00% to 3.02% Zn. KBDD07 - 3.66m @1.08% Zn from 21.33 to 24.99 m. Pinpoint readings ranged from <1.00% to 1.70% Zn. KBDD07 - 4.33m @1.12% Zn from 83.33 to 87.66m. Pinpoint readings ranged from <1.00% to 4.15% Zn. KBDD07 - 1.33m @1.60%Zn from 140.33 to 141.66m. Pinpoint readings ranged from 1.22% to 2.53% Zn. 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. The results are based on the arithmetic average of individual portable XRF pinpoint readings through the defined zone at a typical regular data spacing of 3 readings per meter of whole core. The purpose of these holes was to target the northern extremities of the underexplored Mine Speaks and Club orebodies. Hole KBDD08 is already underway and will focus more centrally in these orebodies. The GeoQuest geological team are on site with the Company's CEO, Richard Lloyd, who is overseeing the initial phase of drilling which has now been extended to 2,500m due to the excellent results received to date. 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. Announcement • Jul 02
Shuka Minerals plc Completes Fifth Drill Hole Kbdd05 At Kabwe Zinc Mine and Reports Drilling Results Shuka Minerals Plc had successfully completed the fifth drill hole KBDD05 at the No. 2 ore body at the Kabwe Zinc Mine. The fifth diamond drill hole was planned as a deep hole, at -80° at a bearing of 145° and was designed to intersect the ore body at approximately 320-350 metres depth and to test the western limb of the originally projected orebody. Historical plans show remaining medium to high grade blocks to a depth of 1,650 feet (550 m) depth, with mine development at these depths. This part of the orebody was accessed by a long crosscut from the No. 5 & 6 Orebody on the 1,050 foot (320 m) level. The hole encountered a mining cavity between 324.90 m and 327.75 m downhole that is possibly associated with workings off this tunnel. A combination of karst (solution cavities) and the mining void contributed to a 4° - 6° westward deviation to the hole. Drilling continued to a final depth of 419 m. The Company has commenced a sixth hole to intersect a different, previously unexploited orebody in the "Speaks" approximately 1 kilometre from the Pit 2 area. The anticipated depth of drill hole 6 will be at 250 m - 300 m. The actual readings from a down hole gyroscope survey revealed the hole was 419 m deep, with a final azimuth of 149.38° and a dip of 74.88°. This particular survey enables plotting the western side of the orebody and the location of further underground workings in a 3D model, and assists future deeper hole planning. The Behre Dolbear 2023 NI 43-101 report indicates that the No. 2 ore body has 3.1 million tonnes of ore remaining at grades of 11.4% zinc and 1.7% lead plus silver and vanadium oxide. KBDD05 returned 38.90% zinc over 3.50 m from 338.00 to 341.50 m (down hole), based on an arithmetic average of 10 individual portable XRF pinpoint readings through the defined zone at a typical regular data spacing of 3 readings per meter of whole core. Pinpoint readings over the entire interval ranged from 6.70% - 68.6% zinc. This interval includes one peak reading of 17.5% lead in otherwise anomalous values (0.3% - 1.8% lead) perhaps indicating an increase in lead mineralisation with depth. A lower ironstone band averaged 2.63% zinc over 2.40 m from 373.60 m to 376.0 m. Mineralisation continues at depth and at the same time the western limits of the known ore body are being tested. This deep hole will enable accurate planning of further deep holes to the east of, and below, the intersections recorded above. 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, who is overseeing the initial (2,000 m) 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. 
