en.Wedoany.com Reported - Aim-listed Shuka Minerals has completed the third drill hole, KBDD03, on the No. 2 orebody at the Kabwe zinc mine in Zambia. Drill hole KBDD03 was designed with an azimuth of 125 degrees and an inclination of 65 degrees, targeting an intersection with the orebody approximately 30 meters east of the KBDD01 intersection at a depth of around 250 meters. The company is currently conducting a fourth drill hole, aiming to intersect the western extension of the orebody. Downhole gyroscopic survey data shows an actual drill depth of 240 meters, with a final azimuth of 123.66 degrees and an inclination of 65.49 degrees. Shuka stated that these data are crucial for accurately plotting the drill hole trajectory and the position of the mineralized zone within the three-dimensional model.
According to the National Instrument 43-101 report compiled by Behre Dolbear in 2023, the No. 2 orebody has a remaining resource of 3.1 million tonnes at grades of 11.4% zinc and 1.7% lead, along with silver and vanadium oxide. In the 19-meter interval from 221.1 meters to 240.1 meters downhole, drill hole KBDD03 returned a zinc grade of 29.58%, based on the arithmetic mean of 62 independent portable X-ray fluorescence readings (three readings per meter of full core). Single zinc readings across the entire interval ranged from 1% to 53.0%, with point grades in the uppermost 9 meters of the orebody averaging 40.09% zinc. Mineralization is generally associated with weakly brecciated to semi-massive hematitic ironstone, mixed with zinc silicates (likely willemite) and minor zinc carbonate minerals. The footwall consists of moderately jointed and fractured massive dolomite, containing hematite veinlets and fracture coatings, which are considered the primary host for zinc mineralization. These analyses were completed using calibrated XRF instruments and will be subsequently verified through laboratory analysis and testing compliant with the Joint Ore Reserves Committee or NI 43-101 standards.
Shuka stated that this intersection aligns with the company's 2026 exploration plan targets, which aim to increase existing resources by 50%. Geological team GeoQuest is on site alongside the company's CEO, Richard Lloyd, who is overseeing the initial 2,000-meter phase of drilling, carried out by contractor Ox Drilling, which has operated in Zambia for 21 years. The company will provide further updates as drilling progresses. Lloyd noted that subsequent drill holes continue to deliver excellent zinc grades, with each hole and intersection deepening the understanding of the orebody; it is encouraging to continue seeing higher-grade and wider intersections compared to the previous NI 43-101 resource, and upcoming drill holes will aim to demonstrate the lateral and depth extensions of the orebody.
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