SKA Operational Update Bullish
SHUKA MINERALS PLC - Kabwe Drilling (KBDD03) hits another High-Grade zone
Shuka Minerals Plc
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What this filing means
Shuka Minerals reported a high-grade 29.58% zinc intersection over 19.0m at its Kabwe project, outperforming historical resource grades but relying on unverified preliminary XRF readings.
Bull case
- Drill hole KBDD03 returned a high-grade intersection of 29.58% zinc over 19.0m, significantly outperforming the 11.4% average grade of the remaining 2023 NI 43-101 resource estimate.
- Point grades in the uppermost 9m of the orebody were exceptionally strong, averaging 40.09% zinc, indicating the potential for a highly concentrated mineralised zone.
Bear case
- Reported grades are derived solely from preliminary portable XRF readings rather than independent JORC/NI 43-101 laboratory assays, introducing significant verification risk.
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