Shuka Minerals confirms high-grade zinc intersections at Kabwe Pit 2
Certified laboratory results from five drill holes at Kabwe’s Pit 2 have confirmed high-grade zinc mineralisation, with Shuka Minerals targeting at least a 50% increase in the area’s historical resource
Shuka Minerals Plc has confirmed multiple high-grade zinc intersections from drilling at the Pit 2 area of its Kabwe Zinc Mine in Zambia, with certified laboratory results supporting earlier readings obtained through portable XRF analysis.
The results from all five holes drilled during the first phase of the company’s Pit 2 drilling programme were analysed by ALS Laboratories using ICP Sodium Peroxide Infusion testing for zinc, lead and copper.
Among the strongest intersections was hole KBDD03, which returned 19.95 metres grading 29.07% zinc from a depth of 221 metres. KBDD01 returned 21.34 metres at 13.37% zinc from 206.06 metres, while KBDD05 intersected 6.4 metres grading 15.33% zinc from 335.6 metres.
Using a 10% zinc cut-off, KBDD03 retained the 19.95-metre intersection at 29.07% zinc, while KBDD05 returned a three-metre intersection grading 30.22% zinc. Maximum individual zinc assays reached 48.5% in both KBDD03 and KBDD05.
Shuka said the results compared favourably with the preliminary pXRF readings and provided further information on the scale and grade of mineralisation within Pit 2.
“The lab results returned confirm extremely high grades in the Pit 2 area and well above those grades previously reported in the historic blocks where averages were reported at 11.5% Zn and 1.7%Pb with the highest grades reported being 20-22% Zn. This may be due to the improvement in laboratory testing capabilities since the historic resource,” said Shuka Minerals chief executive Richard Lloyd.
The company has assessed the results using both the historical 10% zinc cut-off and a 5% cut-off, which it considers more appropriate under current commodity prices and project conditions. Shuka said the lower cut-off produces wider mineralised intersections, although the final cut-off will ultimately depend on mining methods and project economics.
Lloyd said the results also support the company’s view that the historical resource at Pit 2 could be expanded significantly.
“The lab results compare favourably to the spot pXRF results. We have compared readings with 2 cut off grades, a historic 10% Zn cut-off and a more realistic 5% Zn cut-off, the results clearly show much wider intersections at the more realistic cut-offs, and with the very high grades you would be able to withstand increased internal dilution once mining commences,” he said.
According to the company, the 2023 Behre Dolbear NI 43-101 report estimated 1.958 million tonnes of indicated and inferred resources in the No. 2 orebody, grading 12% zinc and 2% lead to a depth of 300 metres. A broader estimate puts remaining tonnage at 2.956 million tonnes grading 11.5% zinc and 1.7% lead to 600 metres.
Additional laboratory analysis for silver, vanadium, germanium and gallium is still underway.
“These results give the Board confidence in a significantly increased mineral resource and supports the Company’s statement that we are looking to increase the historical resource at Pit 2 by at least 50%,” Lloyd said.
