Wrap Text
Appointment of Drilling Contractor and Commencement of Exploration Drilling at Kabwe
SHUKA MINERALS PLC
(formerly Edenville Energy PLC)
(Incorporated in England and Wales)
(Registration number 05292528)
("Shuka Minerals" or "the Company")
ISIN Code: GB00BN47NP32
Appointment of Drilling contractor and commencement of exploration drilling at Kabwe
Shuka Minerals Plc (AIM/AltX: SKA), an African focused mine operator and developer, is
pleased to announce the appointment of Ox Drilling Limited ("Ox") as the drilling contractor
for the Phase 1 drilling programme at the Kabwe Zinc Mine ("Kabwe Project") via its Zambian
operating subsidiary, Leopard Exploration and Mining Limited. The Ox-operated drilling
campaign is scheduled to commence in mid-May 2026 and will be supported by the
Company's geological consultants GeoQuest Limited ("GeoQuest").
The Phase 1 c.2,000m diamond drilling programme will consist of PQ and HQ sized core
targeting known mineralised zones around and beneath the previous workings at vertical
depths ranging from 100-500m. The results from this first phase of drilling, coupled with ongoing
exploration, which includes airborne and ground magnetics as well as surface sampling and
mapping, will enable the Company to finalise the locations for the balance of the broader
10,000m Phase 2 programme and subsequent JORC resource and reserves upgrade later in
2026.
This is the first resource drilling being undertaken at Kabwe since the 1970s. As previously
reported, the Company's objective for its 2026 exploration programme is to achieve a 50%
increase to the existing resource of 6.8Mt @13.3% Zinc and 3.3% Lead with an estimated in-situ
value of US$4 billion (Behre Dolbear NI 43-101 2023). The current programme is also designed
to better understand the Silver, Vanadium, Germanium and Gallium at Kabwe concentrations
and metallurgy as a by-product of the Zinc and Lead production.
About Ox Drilling
Ox have been operating in Zambia, the Democratic Republic of the Congo and other
Southern African countries for over 20 years. The company is equipped with a modern fleet of
drilling rigs and machinery and has undertaken drilling for numerous mining operators in
Zambia, including, BHP Billiton, Barrick and First Quantum. Ox are focused on supplying superior
drilling services and are highly regarded in the region.
Based in Ndola, 180km North of the Kabwe Project, Ox's selection also makes logistics and
mobilisation straight forward and cost effective. They have the highest health and safety
standards and will work with Shuka and GeoQuest to ensure a safe and efficient drilling
programme is conducted.
About GeoQuest
GeoQuest is a fully independent geological and environmental consultancy and contract
services group. The company is based in Zambia and has extensive experience on mines
throughout Southern Africa, providing services to numerous clients including Freeport-
McMoRan and Galileo Resources. Its services include the provision of geological and other
technical personnel, first phase target generation and geological assessment of exploration
areas and the evaluation and assessment of advanced exploration projects. GeoQuest's
principals are well known by the Company's CEO Richard Lloyd.
GeoQuest, as part of Phase 3 of their work, will geologically log all core, conduct on site XRF
tests for inter alia Zinc, Lead, Silver, Vanadium, Gallium and Germanium mineralisation, cut and
prepare the core for sampling and will dispatch the samples to ALS Zambia's laboratory in
Lusaka for grade and metallurgical testing. The assay results will be assessed and added to the
current geological models, which Shuka and GeoQuest continue to develop.
Further updates on exploration activities on site will be made in due course.
CEO Richard Lloyd commented: "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.
We have carefully selected known mineralised zones from historic ZCCM and Anglo-American
drilling and operations. 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.
"I look forward to providing further updates as appropriate as we enter into the next active
phase of exploration and resource definition at Kabwe."
The Directors of Shuka are responsible for the contents of this announcement.
ENDS
Shuka Minerals plc has its primary listing on the London Stock Exchange ("AIM") and a
secondary listing on the AltX of the JSE Limited.
LONDON
29 April 2026
For enquiries contact:
Shuka Minerals Plc +44 (0)7990 503 007
Richard Lloyd
Chief Executive Officer
Nominated Adviser +44 (0)20 7213 0880
Cairn Financial Advisers LLP
Sandy Jamieson / Ludovico Lazzaretti / James
Western
JSE Sponsor & Listing Advisor +27 (11) 480 8500
AcaciaCap Advisors Proprietary Limited
Michelle Krastanov
Broker +44 (0)20 7100 5100
Tavira Financial Limited
Oliver Stansfield / Jonathan Evans
Investor Relations +44 (0)208 892 8329
Olivia Lloyd
Caution:
Certain statements in this announcement, are, or may be deemed to be, forward looking
statements. Forward looking statements are identified by their use of terms and phrases such as
''believe'', ''could'', "should" ''envisage'', ''estimate'', ''intend'', ''may'', ''plan'', ''potentially'',
"expect", ''will'' or the negative of those, variations or comparable expressions, including references to
assumptions. These forward-looking statements are not based on historical facts but rather on the
Directors' current expectations and assumptions regarding the Company's future growth, results
of operations, performance, future capital and other expenditures (including the amount, nature
and sources of funding thereof), competitive advantages, business prospects and opportunities.
Such forward looking statements reflect the Directors' current beliefs and assumptions and are
based on information currently available to the Directors.
SPONSOR
AcaciaCap Advisors Proprietary Limited
Date: 29-04-2026 08:00:00
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