Atomic Eagle expands uranium targets at Muntanga North and Namakande
Atomic Eagle has identified broad interpreted uranium zones at two early-stage exploration targets in Zambia, including a 600m by 200m zone at Muntanga North Target 5. The company still needs follow-up drilling to establish whether the mineralisation is continuous and significant enough to support resource growth.
- 600m by 200m interpreted mineralised zone at Muntanga North Target 5
- 1,000m by 400m zone identified at Namakande Target 2
- 64 Muntanga North holes and 60 Namakande holes completed
- Target 5 mineralisation remains open to the east
- Large Muntanga North Targets 6 to 8 are yet to be tested
Muntanga North Target 5 opens a new exploration front
Atomic Eagle Limited (ASX:AEU) has found an interpreted uranium-mineralised zone covering about 600m by 200m at Muntanga North Target 5, with the zone remaining open along strike and down dip to the east. The result comes from wide-spaced, first-pass drilling at the company’s Muntanga Uranium Project in Zambia and gives Atomic Eagle a defined target for follow-up work.
The company completed 64 exploration holes for 5,995 metres across Muntanga North Targets 1 to 5. Target 5 produced the clearest result, including a 3.1m intercept at 343.78ppm eU3O8, a 5.55m intercept at 124.28ppm and several additional intervals between roughly 2.5m and 7.1m. Atomic Eagle said the mineralisation appears broadly parallel to bedding, while its lenticular geometry may point to a structural influence.
Namakande delivers scale but thinner intersections
At Namakande Target 2, initial drilling identified a substantially larger interpreted zone measuring about 1,000m by 400m. The mineralisation is described as shallow-dipping and bedding conformable, with selected results including 1.5m at 1,342ppm eU3O8, 1.55m at 916ppm and 1.15m at 767ppm.
That headline scale comes with an important qualification: the intersections at Namakande Target 2 have generally been less than 2m thick. Across Namakande, Atomic Eagle completed 60 wide-spaced holes for 6,832 metres. Target 1 also returned anomalous uranium in several holes, but the mineralisation there was generally less than 3m thick and discontinuous.
Drilling remains exploration, not yet a resource update
The results are potentially useful for expanding the exploration pipeline, but they do not yet amount to a new Mineral Resource. Atomic Eagle says further drilling and geological interpretation are required to determine the geometry, continuity, scale and significance of both the Muntanga North and Namakande mineralisation.
The reported grades are equivalent uranium estimates derived from down-hole gamma logging rather than laboratory assays. The drilling used vertical open-hole hammer holes, and the company considers the shallowly dipping mineralisation to produce intercepts close to true width. No independent review of the sampling techniques and data has been completed at this stage, adding another reason to treat the early results as directional rather than definitive.
Thirty-thousand-metre program moves to its next tests
Atomic Eagle’s 2026 program is designed to support resource growth at Chisebuka while testing greenfields targets at Muntanga North and Namakande. The company says it is more than halfway through the planned 30,000m campaign, with follow-up drilling at Target 5 intended to test the open eastern extensions.
Targets 6, 7 and 8 at Muntanga North remain untested. Ground radiometric surveys are continuing there, and the next drilling phase will initially seek to establish the geological source of the anomalies before determining whether more detailed work is warranted. Drilling at the current Muntanga North targets is expected to be completed in the fourth quarter of 2026, leaving continuity at Target 5 and the first results from Targets 6 to 8 as the immediate tests of whether the new zones can become more than attractive outlines on a map.
Bottom Line?
The exploration footprint is expanding, but the investment case now depends on follow-up drilling converting broad interpreted zones and thin eU3O8 intercepts into continuous, resource-quality mineralisation.
Questions in the middle?
- Will follow-up drilling confirm continuity through the open eastern extensions at Muntanga North Target 5?
- Can the broad Namakande Target 2 zone support sufficient thickness and grade for a future resource estimate?
- What will drilling reveal at the large but untested Muntanga North Targets 6, 7 and 8?
