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SKA Operational Update Neutral

SHUKA MINERALS PLC - Kabwe Drilling (KBDD06 and KBDD07) Initial northerly exploration holes confirm continued mineralisation

Shuka Minerals Plc
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What this filing means

Shuka Minerals has confirmed mineralisation extends into the previously unmined northern reaches of the Kabwe Speaks/Mine Club orebodies in holes KBDD06 and KBDD07, with KBDD06 returning a standout 6m at 4.57% Zn including peak Zn readings of 21–23% — a genuine exploration hit. The programme has been expanded to 2,500m. The catch is that the share had already run up strongly into the announcement (+18% CAR-20) on the back of a string of prior drilling updates, and these latest grades are acknow…

Bull case

  • Initial exploration holes KBDD06 and KBDD07 confirm mineralisation extends ~1km NW into the previously unmined northern reaches of the Speaks/Mine Club orebodies, validating continuity of the Kabwe system.
  • KBDD06 returned a 6.00m interval at 4.57% Zn with peak readings of 21.05%, 20.84% and 22.80% Zn across 1m of core, showing high-grade persistence even at the exploration front.

Bear case

  • All reported assays are unverified portable XRF readings pending JORC/NI 43-101 laboratory analysis, so headline grades remain preliminary.
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Category
Operational Update
Event posture
No Edge
Published
Jul 10, 2026

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