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Shuka Minerals PLC on Wednesday said it has appointed a drilling contractor, as it looks to commence exploration drilling at the Kabwe zinc mine in Zambia. The Africa-focused mine operator and developer said it appointed Ox Drilling Ltd as the contractor for the phase one drilling programme at the Kabwe project through its operating subsidiary Leopard Exploration & Mining Ltd. Shuka explained that the Ox-operated drilling campaign is set to begin mid-May, and will be supported by geological consultants, GeoQuest Ltd. The around 2,000-metre diamond drilling programme will target known mineralised zones around and beneath previous workings, said Shuka. The company said the drilling results from the phase one programme will, along with ongoing exploration, support with finalising the location for the broader phase two programme. Shuka added that it will also support the subsequent JORC resource and reserves upgrade in 2026. Shuka said the aim for the exploration is to achieve a 50% increase to the existing resource of 6.8 million tonnes of ore at a grade of 13.3% zinc and 3.3% lead. The company noted the estimated in-situ value is around $4 billion. Shares in Shuka Minerals were flat at 79 rand cents on Wednesday morning in Johannesburg. In London, they were down 2.9% to 3.21 pence. ‘It is really exciting to now embark on the fully-funded drilling campaign at Kabwe. The Ox and GeoQuest teams have worked together previously, and I have been extremely impressed with how diligently they have planned this initial campaign,’ said Chief Executive Richard Lloyd. ‘The programme is designed to consolidate and upgrade the geological models and reserves/resource, as well as test some less defined areas and also generate a better understanding of the by-products found at Kabwe, some of which could prove to be a mine in their own right based on historic production data.’ Copyright 2026 Alliance News Ltd. All Rights Reserved.
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