Atomic Eagle Ltd (ASX:AEU) has expanded known uranium mineralisation at the Chisebuka deposit within its 100%-owned Muntanga Uranium Project in Zambia, with drilling continuing to extend higher-grade zones beyond the existing resource boundary.
The company reported new resource extension drilling results from Chisebuka, including:
- 5.4 metres at 422 ppm eU₃O₈ from 47 metres in hole CHDTH2214;
- 12.8 metres at 237 ppm eU₃O₈ from 40.9 metres in CHDTH221;
- 10.3 metres at 210 ppm eU₃O₈ from 81.4 metres in CHDTH2231;and
- 7.3 metres at 284 ppm eU₃O₈ from 47.2 metres, also in CHDTH2231.
Drill program increases projection
Atomic's recent drilling has increased the surface projection of the northern higher-grade zone to 900 metres by 600 metres, while the south-west higher-grade zone now measures 830 metres by 400 metres.
The company demonstrated continuity of mineralisation between the south-west higher-grade zone and the previously defined resource area.
The 2026 drill program is targeting mineralisation outside the existing resource within the broader Chisebuka footprint, where Atomic Eagle previously reported an inferred mineral resource of 19.9 million tonnes at 220 ppm U₃O₈ for 9.7 million pounds of U₃O₈.
Chisebuka potential
Following 13 initial holes reported earlier, Atomic Eagle has now reported a further 29 holes, taking total drilling in the current Chisebuka program to 42 holes for 4,209 metres.
Recent work was primarily focused on testing continuity between the south-west higher-grade zone and the resource area, as well as margins of the resource and extensions to the southern zone of mineralisation.
The company said mineralisation in the northern higher-grade zone extends from surface in the north-west to more than 100 metres depth in the south-east and is up to 80 metres thick in the core of the deposit.
In the south-west zone, mineralisation starts near surface and extends below 100 metres depth down plunge to the south-east, reaching up to 60 metres thickness in the core of the zone.
CEO Phil Hoskins said the first phase of the 2026 exploration program had successfully extended the boundaries of the previously defined resource at Chisebuka and defined an additional higher-grade zone to the south-west.
“Subject to further studies, Chisebuka is demonstrating the potential to be a major contributor towards the company’s target of a larger scale mine,” Hoskins said.
Muntanga North drilling to begin
Atomic Eagle has also moved two drill rigs to begin the maiden drill program at the Muntanga North exploration target.
Ground radiometric surveys have been completed over the first six target areas at Muntanga North, with wide-spaced exploration drilling now being deployed and results expected in the coming weeks.
Hoskins said the survey program had refined several new exploration targets that had not been drilled historically, including at Muntanga North.
Access clearance has also been completed for the Namakande one and Namakande two targets, where ground radiometric surveys are expected to begin ahead of drilling in Q3 2026.
Project scale
Atomic Eagle’s Muntanga Uranium Project covers 4 mining licences and 2 exploration licences across a 146-kilometre strike length in Zambia, adjacent to Lake Kariba.
The broader project hosts a combined mineral resource of 86.2 million tonnes at 309 ppm U₃O₈ for 58.8 million pounds of U₃O₈, comprising 40 million pounds in measured and indicated resources and 18.8 million pounds in inferred resources.
What’s ahead
Atomic Eagle expects to begin a 12-hole reverse circulation drilling program for about 900 metres at Chisebuka later this month to confirm grades estimated using a gamma tool.
The company also plans diamond drilling in Q4 2026 for further grade confirmation and to collect core for metallurgical testwork.
At Muntanga North, exploration drilling is underway across newly refined radiometric targets, while Namakande 1 and 2 are scheduled for ground surveys and drill testing in Q3 2026.