Atomic Eagle Ltd (ASX:AEU) has returned broad zones of shallow uranium mineralisation from its maiden drill program at the Chisebuka target within the Muntanga Uranium Project in Zambia. Standout intersections include 16.4 metres at 1,036 parts per million (ppm) eU₃O₈ from 13.5m, 29.4m at 439 ppm from 32.2m, and 43.6m at 215 ppm from 30.7m, confirming thick, near-surface mineralisation across a 3.5-by-1.2-kilometre target area.
Location of Chisebuka target within Muntanga Project Licence Area.
“These drilling results at the Chisebuka target are a fantastic start to Atomic Eagle’s strategy to rapidly expand the existing Mineral Resources across the Muntanga Project. Chisebuka is the first of six exploration targets prioritised for drill testing across our prospective landholding exceeding 1,100km²," Atomic Eagle CEO Phil Hoskins said.
"Results from the ongoing drill campaign, and further drilling planned for the coming months, are expected to delineate a maiden resource for the Chisebuka target in 2026. Furthermore, confirmation of an additional mineralised region at Chisebuka some 60km along trend to the southwest of previously defined resources, Muntanga, Dibbwi and Dibbwi East, underscores the prospectivity of the company’s landholding within the Karoo basin sandstones and provides growing confidence to expand the resource base across the other exploration targets.”
Chisebuka drilling results
Initial holes at Chisebuka — the first major drilling undertaken at the target in more than 15 years — show flat-lying to gently southeast-dipping uranium zones beginning close to surface. Key intersections include:
- 16.4m at 1,036 ppm eU₃O₈ from 13.5m, including 2.3m at 2,879 ppm from 21.0m and 6.5m at 298 ppm from 31.1m (CHDTH2153)
- 29.4m at 439 ppm eU₃O₈ from 32.2m, including 1.0m at 2,143 ppm from 36.0m and 1.0m at 3,040 ppm from 53.9m (CHDTH2163)
- 43.6m at 215 ppm eU₃O₈ from 30.7m, including 2.5m at 883 ppm from 28.5m (CHDTH2161)
Chisebuka Target: Map showing significant intercepts from recent drilling plotted over ‘Grade x Thickness’ contours.
Several additional broad, shallow mineralised zones have been intersected across the target, indicating continuity within the mineralised lenses and validating the geological model.
Infill drilling and resource-definition strategy
Chisebuka is being tested with a 100-hole, 9,000m infill program drilled on a 200m-by-100m pattern, a major tightening from earlier 400m-by-100m spacing. So far, 46 holes for 5,311m have been completed using two percussion rigs.
Atomic Eagle plans further drilling in 2026, closing spacing to 100m by 100m to underpin a maiden Mineral Resource Estimate for Chisebuka in the first half of 2026.
Muntanga resource base and regional targets
Across the wider Muntanga Project, the company reports a JORC Mineral Resource of:
- 40 Mlb U₃O₈ measured and indicated at 359 ppm, and
- 7.4 Mlb inferred at 263 ppm
An exploration target of 82–150 Mt at 150–350 ppm U₃O₈ (representing 40–100.5 Mlb U₃O₈) highlights the potential for further growth.
Chisebuka sits within the southernmost Kariba Valley licence, interpreted as a continuation of geology hosting the Muntanga, Dibbwi and Dibbwi East deposits. Two additional prospects — Namakande 1 and Namakande 2 — have been identified through radiometric anomalies, favourable Escarpment Grit exposures and structural features. Historical drilling confirms anomalous uranium in both areas.
Next steps and funding position
In 2025, Atomic Eagle intends to undertake its largest exploration campaign on the Muntanga Project in 17 years, including mapping and ground radiometric work at Namakande 1 and 2 to refine drill targets.
The company reports a cash balance of roughly AU$20 million, which it says is enough to support an “aggressive” resource-expansion program across its 1,126 km² licence portfolio.