Atomic Eagle (ASX:AEU) has provided exploration updates for the wholly owned Muntanga Uranium Project in Zambia, with drilling continuing to extend the boundaries of the previously identified uranium mineralisation.
Earlier in 2026, Atomic Eagle announced an inferred mineral resource of 19.9 million tonnes at 220 parts per million (ppm) triuranium octoxide for 9.7 million pounds of triuranium octoxide.
The company has reported 29 new results, taking the total drilling at the Chisebuka mineralised footprint to 42 holes totalling 4,209m.
Key results include:
- 5.4m @ 422ppm equivalent uranium oxide from 47m
- 12.8m @ 237ppm equivalent uranium oxide from 40.9m
- 10.3m @ 210ppm equivalent uranium oxide from 81.4m
- 7.3m @ 284ppm equivalent uranium oxide from 47.2m
The latest drilling has increased the size of the ‘higher grade’ area in the northern zone with a surface projection measuring 900m by 600m, while the southwest zone has increased to 830m by 400m.
CEO Phil Hoskins says that 2026’s exploration has been successful, “extending the boundaries of the previously defined resource at Chisebuka and defining an additional higher grade zone to the southwest”.
“Subject to further studies, Chisebuka is demonstrating the potential to be a major contributor towards the company’s target of a larger scale mine.
“In addition to the ongoing drill program, ground radiometric surveys at other exploration targets have been continuing. This program has been highly promising as it has refined a number of new exploration targets that have not been drilled historically, including at Muntanga North where drilling will shortly commence.”
Atomic Eagle plans to commence a reverse circulation drill program of 12 holes for about 900m in late June 2026, in a program designed to confirm grades estimated using a gamma tool.
Diamond drilling will also commence in Q4 2026 for additional grade confirmation and to collect core for metallurgical test work.
At Muntanga North, ground radiometric surveys are also continuing with six of the eight targets now completed. Two drill rigs are now being deployed for wide-spaced exploration drilling, with results expected in the coming weeks.
Finally, Atomic Eagle has also utilised a bulldozer to clear access for ground radiometric surveys at Namakande 1 and 2. Once these surveys are complete, the targets will be drill tested in Q3 2026.
Atomic Eagle is a mineral resource company focused on exploration and development of uranium assets in Africa.
Write to Amy Rotman at Mining.com.au
Images: Atomic Eagle
