REG - Shuka Minerals PLC - Appointment of Independent Geological Consultants

Shuka MineralsAnnouncement

14/03/2025 07:15

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RNS Number : 6550A  Shuka Minerals PLC  14 March 2025

14 March 2025

Shuka Minerals Plc

("Shuka" or the "Company")

Appointment of Independent Geological Consultants to

Commence Work at the Kabwe Zinc Mine

Shuka Minerals Plc (AIM: SKA), the African-focused mining and exploration
company, is pleased to announce the appointment of Zambian headquartered,
GeoQuest Limited ("GeoQuest") as the Company's independent geological
consultant to commence an initial phase of exploration activities at the Kabwe
Zinc Mine ("Kabwe Mine") located in central Zambia.

As announced on 14 February 2025, the Company's executive management team
recently completed a successful site visit to the Kabwe Mine and met with a
number of key advisers and consultants.  During this visit, the Company met
with the principals of GeoQuest and discussed its preliminary exploration
plans and mine development strategy for the Kabwe Mine.

GeoQuest is a fully independent geological and environmental consultancy and
contract services group. 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.

In anticipation of completing the acquisition of the Kabwe Mine, and to ensure
no delay in progressing a work programme, as part of their initial phase of
work, GeoQuest will complete a review of some of the historical resource
drilling and exploration work completed at the Kabwe Mine as well as
conducting a geophysical survey of the Kabwe Mine and its existing Mining
License. In addition, GeoQuest will also review the assay results from the
samples of outcropping zinc and lead mineralisation that were taken during the
site visit to the Kabwe Mine by the Company's executive management team in
February 2025. These samples were submitted to ALS Zambia's laboratory in
Lusaka for grade and metallurgical testing, with assay results due to be
received later this month.

Further updates on the assay results and GeoQuests initial exploration
activities at the Kabwe Mine will be made in due course.

The Company remains excited about the opportunities at Kabwe and is committed
to advancing the project to unlock its full potential.

 

About the Kabwe Mine

 

The Kabwe Mine, was previously operated by Anglo American plc and Zambia
Consolidated Copper Mines Limited, and was mined continuously for 88 years
until its closure in 1994, due to the then current commodity prices. It was
ranked as one of the world's highest-grade zinc and lead mining operations and
is considered one of the famous mines in Africa, holding a position of
national economic importance in Zambia.

 

About Shuka Minerals

 

Shuka Minerals plc, is a dynamic and innovative mining and development
company, committed to exploring and harnessing Africa's mineral resources.
Shuka's focus lies in the acquisition and development of valuable minerals,
aiming to contribute to the sustainable growth and development of local
communities.

 

Shuka has an operating coal mine in Tanzania, of which its capacity is under
consideration for upgrading by management subject to funding and the Company's
strategic direction.

The Company has signed a conditional Share Purchase Agreement with LEM to
acquire 100% of LEM's share capital. LEM is the registered holder of a
large-scale mining license 12848-HQ-LML issued in December 2014 for a period
of 25 years, and which includes the historical Kabwe Mine located in central
Zambia, approx. 110km north of the capital city of Lusaka.

 

 

For Enquiries:

 Shuka Minerals Plc                   +44 (0) 7990 503007

 Richard Lloyd - CEO
 Strand Hanson Limited                +44 (0) 20 7409 3494

 Financial and Nominated Adviser

 James Harris | Richard Johnson
 Tavira Securities Limited            +44 (0) 20 7100 5100

 Joint Broker

 Oliver Stansfield | Jonathan Evans
 Peterhouse Capital Limited            +44 (0) 20 7469 0930

 Joint Broker

 Charles Goodfellow | Duncan Vasey
 Investor Relations                    +254 (0) 746 849 110

 Faith Kinyanjui Mumbi

 

 

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