Atomic Eagle Extends High-Grade Uranium Zones at Muntanga with New Drilling Results

• Northern high-grade zone expanded to 900m x 600m
• South-west zone extended to 830m x 400m
• 42 holes drilled at Chisebuka totaling 4,209m
• Maiden drilling underway at Muntanga North target
• Upcoming RC and diamond drilling planned for grade confirmation

Chisebuka Drilling Expands Uranium Footprint

Atomic Eagle Limited (ASX:AEU) has reported encouraging results from its ongoing drilling campaign at the Muntanga Uranium Project in Zambia, with significant expansions of the Chisebuka deposit’s higher-grade uranium zones. The northern zone now stretches 900 metres by 600 metres, while the south-west zone has grown to 830 metres by 400 metres, both extending mineralisation from surface to depths exceeding 100 metres.

The latest phase has seen 42 drill holes completed, totalling 4,209 metres, focused on testing continuity between the south-west higher-grade zone and the previously defined resource area. Notable intercepts include 5.4 metres at 422ppm equivalent U₃O₈ from 47 metres and 12.8 metres at 237ppm from 40.9 metres, confirming the robustness of mineralisation boundaries.

Methodical Approach to Grade Estimation

Atomic Eagle employs calibrated downhole gamma logging to estimate uranium grades indirectly, using a sodium iodide crystal probe calibrated at a recognised facility in Colorado. This method offers greater representativity than conventional assays by measuring radioactivity over a volume around the drill hole. The company plans to validate gamma-derived grades with reverse circulation (RC) and diamond drilling assays in upcoming programs.

An RC drill program comprising 12 holes over approximately 900 metres is slated to commence shortly, aimed at confirming gamma tool grades. This will be followed by a diamond drilling campaign in the fourth quarter of 2026 to collect core samples for metallurgical testing, a critical step toward assessing mining feasibility.

Exploration Momentum at Muntanga North and Namakande Targets

Beyond Chisebuka, Atomic Eagle has mobilised two drill rigs to initiate maiden drilling at the Muntanga North exploration target, where ground radiometric surveys have been completed over six of eight priority areas. These surveys have refined large-scale anomalies, paving the way for wide-spaced exploration drilling in the coming weeks.

Meanwhile, access clearance and ground radiometric surveys are underway at the Namakande 1 and 2 targets, with drilling planned for the third quarter of 2026. These efforts aim to expand the project’s uranium footprint across its 1,136 square kilometre licence area adjacent to Lake Kariba.

Resource Base Remains Solid

Atomic Eagle confirms no material changes to its previously reported Mineral Resource Estimate for the Muntanga Project, which totals 58.8 million pounds of U₃O₈ at an average grade of 309ppm. The resource includes a Measured and Indicated category of 40 million pounds and an Inferred category of 18.8 million pounds, underpinning the company’s ambitions for a district-scale uranium mine.

CEO Phil Hoskins highlighted the potential of Chisebuka to be a major contributor to the company’s production targets, noting the success of the initial 2026 exploration phase in extending resource boundaries and identifying new higher-grade zones. The company’s methodical approach, combining radiometric surveys with calibrated drilling techniques, reinforces confidence in the project’s development trajectory.

Bottom Line?

Upcoming assay results from RC and diamond drilling will be pivotal in confirming grade continuity and advancing Muntanga toward feasibility studies.

Questions in the middle?

• How will the upcoming diamond drilling impact the current resource confidence at Chisebuka?
• What metallurgical characteristics will the core samples reveal for processing viability?
• Can exploration success at Muntanga North and Namakande translate into significant resource additions?