Shuka Minerals Plc announced that, further to its announcement of 19 March 2025, it has received the assay results for certain samples from the Kabwe Zinc Mine which had previously exceeded the upper detection limits of the initial testing. Ten surface samples collected from outcrop and artisanal workings were initially analysed by ALS (Johannesburg), using 48-element ICP analysis. Certain samples exceeded the upper detection limits for zinc and lead under that method.
Eight lead samples exceeding the detection limit (>1% Pb) were re-analysed at ALS (Johannesberg) using four-acid ICP-AES. Two zinc samples exceeding the detection limit (>30% Zn) were re-an analysed at ALS (Vancouver) using titration methods. The results continue to demonstrate consistently high zinc and lead grades at surface, with zinc values reaching up to 42.89% and lead values up to 6.10%, supporting the earlier results provided by ALS.
These grades compare favourably with historical mining averages and confirm the presence of substantial high-grade material at surface. Shuka is also considering projects in Zambia, South Africa, and other African countries that are rich in copper, lead, and zinc. The Company has completed the purchase of 100% of Leopard Exploration and Mining Limited's ("LEM") share capital.LEM is the registered holder of a 33.3 sq km large-scale mining license 12848-HQ-LML issued in December 2014 for a period of 25 years, and which includes the historical Kabwe Mine located in central Zambia, approx. 110km north of the capital city of Lusaka.
The Kabwe Mine was previously operated Zambia Consolidated Copper Mines Limited along with Anglo American Technical Services and was mined continuously for 88 years until its closure in 1994, due to the commodity prices at the time. It was ranked as one of the world's highest-grade zinc and lead mining operations and is considered one of the most famous mines in Africa, holding a position of national economic importance in Zambia. With sufficient funding the Company is commencing a 3-phase exploration and development programme at the Kabwe Mine, as part of its plans to re-commence both open-pit and underground mining and processing operations.
This 3-phase programme, as also recommended by Behre Dol bear, will comprise: (i) a high-resolution geophysical survey, (ii) a resource drilling programme, updated metallurgical test work and additional environmental and mining studies; and (iii) detailed feasibility study work and underground mine refurbishment and new access decline activities as well as the establishment of new ore processing facilities and value addition in respect of the production of refined metals products.
