Atomic Eagle Launches 30,000m Drill Program to Expand Muntanga Uranium Resources

Ambitious Drilling Campaign Targets Resource Growth

Atomic Eagle Limited (ASX:AEU) has commenced a major 30,000-metre drilling program at its wholly owned Muntanga Uranium Project in Zambia. This marks a significant step in the company’s push to build on a recently upgraded Mineral Resource Estimate (MRE) that increased total uranium resources by 24% to 58.8 million pounds of U3O8 at an average grade of 309ppm. The program aims to expand the resource base and support the company’s vision of developing a district-scale uranium mine.

Drilling will focus on three priority areas: infill drilling at Chisebuka to convert known mineralisation into a JORC-compliant Mineral Resource, and maiden drilling campaigns at the Namakande and Muntanga North targets. Multiple rigs and geophysical crews are already active on site, with exploration manager Victor Lusambo overseeing operations.

Atomic Eagle CEO Phil Hoskins emphasised the company’s strategy to grow the resource beyond previous feasibility study assumptions, stating that the initial exploration success, delivering a 24% resource increase within three months of acquisition, provides a strong foundation for the expanded program. The company is fully funded to execute exploration activities through 2027, positioning it well to capitalise on uranium market dynamics.

Chisebuka Infill Drilling to Solidify Resource Base

The Chisebuka target has been a focal point, with 131 holes drilled to date totaling 12,395 metres, including 69 holes completed by Atomic Eagle in late 2025. This drilling supported a maiden Inferred Mineral Resource of 9.7 million pounds U3O8 at 220ppm, achieved at a discovery cost of just US$0.05 per pound. The current infill drilling campaign aims to tighten hole spacing to approximately 100m by 100m to convert the remaining mineralisation into a JORC Mineral Resource, enhancing confidence in the deposit’s size and grade.

This approach follows the company’s earlier successful drilling at Chisebuka, which revealed extensive near-surface uranium mineralisation over an 800m by 600m area, setting the stage for the recent resource upgrade. The efficiency and low cost of discovery at Chisebuka highlight the potential for further resource growth within the Muntanga Project’s licence area 24 percent resource boost.

Maiden Drilling at Namakande and Muntanga North

The Namakande 1 and 2 targets, located in the southernmost Kariba Valley mining licence, represent new frontiers for Atomic Eagle. These targets coincide with radiometric anomalies, favourable host rock outcrops, and structural features such as faults and bedding changes that can trap uranium mineralisation. Ground radiometric surveys using scintillometers are underway to refine airborne anomaly data before drilling begins on a 400m by 400m spacing.

Similarly, the Muntanga North target covers a large 80km² area north of the existing resources, yet remains largely undrilled except for a small 2022 intercept. Geological mapping and multiple radiometric, soil sampling, and radon survey anomalies suggest significant exploration potential. Ground radiometric surveys will precede drilling across eight discrete targets, with initial drill spacing also at 400m by 400m. The scale of these targets, outlined against known deposits like Dibbwi East, underscores the district-scale potential the company is pursuing.

These maiden drilling initiatives complement the company’s broader strategy to test near-surface mineralisation amenable to open-pit mining and expand the resource inventory substantially. The program’s design reflects confidence in the geological model and prior airborne survey data massive uranium target.

Strategic Location and Infrastructure Advantages

The Muntanga Uranium Project benefits from robust infrastructure, including sealed road access near Chirundu town on the Zimbabwe border, linking to Lusaka’s international airport and the port of Walvis Bay via Livingstone. This logistical advantage facilitates efficient export routes to global markets, a critical factor for uranium producers.

Atomic Eagle’s resource base, comprising a Measured and Indicated Resource of 40.0 million pounds U3O8 and an Inferred Resource of 18.8 million pounds, positions the company as a notable emerging uranium player in Africa. The ongoing drilling results will be closely watched for their potential to materially alter project economics and development timelines.