Atomic Eagle (ASX:AEU) has identified the Muntanga Uranium Project in Zambia to have a probable ore reserve of 39.6 million tonnes @ 320 parts per million (ppm) triuranium octoxide, containing 28 million pounds triuranium octoxide.
The company contracted independent engineer PRODEO Consulting to conduct a review over the validity of Muntanga’s Feasibility Study.
The study was disclosed by GoviEx Uranium in March 2025 prior to merging with Tombador Iron to form Atomic, as reported by Mining.com.au in November.
CEO Phil Hoskins says the review has confirmed the “quality and integrity of technical work” that led the Feasibility Study.
“With a strong technical baseline now confirmed, we are well positioned to pursue resource growth and optimisation opportunities that we believe have the potential to materially enhance the scale, economics and long-term value of the project,” Hoskins says.
The Feasibility Study highlights Muntanga to produce an average of 2.2 million pounds triuranium octoxide each year through the low-strip ratio open pit mine and heap leaching, and the project to have an average recovery rate exceeding 90%.
Atomic Eagle says an increase to the project’s uranium resources will boost production scale.
As reported by Mining.com.au yesterday (3 March), Atomic Eagle unveiled Muntanga to have an updated total resource of 58.8 million pounds triuranium octoxide @ 309ppm by an additional 11.4 million pounds, representing a 24% increase.
The company will conduct further drilling later this month, targeting an expansion to newly defined resources at Chisebuka, as well as testing additional priority targets across the project area, including Namakande and Muntanga North.
Atomic Eagle is a uranium explorer focused on advancing development across its portfolio of African-based assets.
Write to Maddison Elliott at Mining.com.au
Images: Atomic Eagle
