Shuka Minerals Begins Phase 1 Drilling at Kabwe Zinc Mine

Edenville Energy ( (GB:SKA) ) has issued an update.

Shuka Minerals has started Phase 1 of its 2026 drilling programme at the No.2 ore body of the Kabwe Zinc Mine in Zambia, targeting 2,000 metres of diamond drilling to extend the deposit at depth. The campaign aims to build on a reported remaining resource of 3.1 million tonnes grading 11.4% zinc and 1.7% lead and is designed to increase the company’s existing resource base by 50%, subject to drilling results.

The programme, overseen on site by CEO Richard Lloyd and executed by contractor Ox Drilling with GeoQuest’s geological team, will also systematically assess silver, vanadium, gallium and germanium, which have not been previously explored in detail. Drill core will be initially screened by XRF and then assayed at ALS Laboratories to JORC and NI 43-101 standards, supporting potential resource expansion and strengthening Shuka’s position in the regional base and critical metals sector.

Spark’s Take on SKA Stock

According to Spark, TipRanks’ AI Analyst, SKA is a Neutral.

The overall stock score is primarily impacted by significant financial challenges and weak technical indicators. While the acquisition of the Kabwe Zinc Mine presents a potential growth opportunity, funding delays and negative valuation metrics weigh heavily on the stock’s attractiveness.

To see Spark’s full report on SKA stock, click here.

More about Edenville Energy

Shuka Minerals Plc is an African-focused mine operator and developer with a primary listing on London’s AIM market and a secondary listing on the JSE’s AltX board. The company is advancing the Kabwe Zinc Mine in Zambia, targeting zinc and lead production while assessing additional value from silver, vanadium, gallium and germanium contained in its ore bodies.

Average Trading Volume: 361,914

Technical Sentiment Signal: Strong Sell

Current Market Cap: £3.56M

For a thorough assessment of SKA stock, go to TipRanks’ Stock Analysis page.