Atomic Eagle (ASX:AEU) has intersected uranium mineralisation outside the defined resource area at the Chisebuka target within the Muntanga Uranium Project in Zambia.
The company has completed resource expansion drilling in 13 of the 15 holes in the Chisebuka area.
Chisebuka currently hosts an inferred resource area of 19.9 million tonnes @ 220 parts per million (ppm) triuranium octoxide, equivalent to 9.7 million pounds of contained triuranium octoxide.
Results from ongoing drilling include 12.7m @ 673ppm equivalent triuranium octoxide from 18m; 24m @ 448ppm equivalent triuranium octoxide from 32.3m; and 15.9m @ 361ppm equivalent triuranium octoxide from 4.7m.
Drilling has confirmed the Chisebuka’s southwest ‘high-grade’ area to expand to a 600m by 300m area. This area has now been drilled to the density necessary for a mineral resource estimate.
Further drilling results are expected to be returned in the coming weeks, with two drill rigs continuing to operate at the project.
The company is also conducting radiometric surveys to refine the Namakande and Muntanga North targets, which Atomic Eagle will follow up with drilling later this quarter.
CEO Phil Hoskins says the company’s goal for this year is to increase Muntanga’s resource estimate, which is currently ‘off to a great start’ with recent results.
“These initial results from Chisebuka build directly on the company’s early success, which saw a 9.7-million-pound uranium resource defined at Chisebuka in a matter of months,” Hoskins says.
“Chisebuka’s southwest zone is now emerging as the next key addition with near-surface, higher-grade results outside of the previous resource area, and we’ve only scratched the surface of the planned holes into Chisebuka this year.
“Drilling is continuing with two rigs, aiming to expand the higher-grade zones at Chisebuka, whilst, at the same time, we are conducting ground radiometric surveys to refine the exciting Namakande and Muntanga North targets.”
The total drill program across Muntanga will cover 30,000m, including exploration drilling outside Chisebuka’s resource area and wide-spaced drilling at the Namakande and Muntanga North exploration targets, as reported by Mining.com.au.
Atomic Eagle is a uranium explorer and developer focused on advancing the Muntanga Project in Zambia.
Write to Maddison Elliott at Mining.com.au
Images: Atomic Eagle
