Atomic Eagle (ASX:AEU) has begun its 30,000m drilling campaign at the Muntanga Uranium Project in Zambia.
The company will target three priority areas within the project tenure to build on the existing resource estimate in this campaign.
Atomic Eagle will conduct infill drilling at Chisebuka, as well as maiden drilling at Namakande and Muntanga North.
The company recently upgraded the resource estimate for the project by 24% to 58.8 million pounds of triuranium octoxide at 309 parts per million, as reported by Mining.com.au.
Multiple rigs and geophysical crews will be operating on site at Muntanga. Atomic Eagle says it is fully funded to execute its 2026 and 2027 exploration campaigns.
CEO Phil Hoskins says the company already demonstrated “success” in initial exploration just three months into owning the asset.
“Our strategy is to grow the resource to underpin a significantly larger mining operation than that contemplated in the previous Feasibility Study,” Hoskins says.
“With two rigs drilling and numerous walk-up drill targets, we believe there is great potential to expand upon the existing resource.”
As reported earlier this month, Atomic Eagle appointed Grant Davey to the company’s board as non-executive Chairman, bringing more than 30 years of experience in the uranium industry as the founder of Boss Energy (ASX:BOE) and Lotus Resources (ASX:LOT).
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
