Atomic Eagle hits thick uranium at Zambia’s Muntanga
Initial drilling at Chisebuka has produced broad shallow uranium zones, reaffirming its potential following a 15-year exploration hiatus.
Atomic Eagle delivers broad, thick uranium at the Chisebuka target
Drilling has also confirmed a new mineralised province in the southernmost landholding
A resource statement is on the cards for the wider Muntanga project in 2026
Special Report: Atomic Eagle’s first round of drilling at the Chisebuka target has delivered a set of broad, near-surface uranium intercepts, underscoring the target’s potential after more than 15 years without modern exploration.
Drilling at Chisebuka, defined as an 8.3-13.2Mlb exploration target, has returned 16.4m at 1036ppm eU308, and 29.4m at 439ppm – as well as hits exceeding 2000ppm.
Two percussion rigs remain active as infill drilling continues, aimed at collecting the data needed to convert the 3.5km long by 1.2km wide target area into a JORC resource by 2026.
These results also mark the confirmation of a new mineralised province within Atomic Eagle’s southern ground, part of the wider Muntanga uranium project in Zambia.
To date, 46 holes for 5311m have been completed, but more drilling is planned in 2026 to bring the drill spacing down to a 100m x 100m hole pattern.
With around $20m in cash, Atomic Eagle (ASX:AEU) is finalising its exploration strategy to prioritise resource growth and test additional targets.
New CEO in Phil Hoskins
Atomic’s board has appointed corporate development manager Phil Hoskins to the role of CEO.
Hoskins brings more than 15 years’ experience across exploration, development and operations, including a decade leading an African critical minerals project from discovery through to feasibility, permitting and financing.
On the latest drilling results, Hoskins said they signal a “fantastic start” to the company’s strategy of rapidly expanding the resource across Muntanga.
“Chisebuka is the first of six exploration targets prioritized for drill testing across our prospective landholding exceeding 1100km2,” he 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.”
Muntanga
Muntanga already holds a JORC measured and indicated resource of 40Mlb at 359ppm and an inferred resource of 7.4Mlb at 263ppm within Atomic’s 1126km2 licence area.
Within the explorer’s Kariba Valley licence, the company has identified two zones of interest where faulting and radiometric anomalies coincide up dip and along strike from the Chisebuka target.
The geology in the Kariba Valley licence represents the southern extension of the geology that hosts the Muntanga, Dibbwi and Dibbwi East deposits, as well as two further exploration targets (Namakande 1 and 2).
Plans for 2026
Nearly half of the planned holes for the current Chisebuka drill program are now complete, with 46 out of 100 drilled to date.
Once this phase wraps up, Atomic Eagle is already looking ahead to a follow-up campaign in 2026.
That work will provide the data required to deliver a resource estimate for Chisebuka, which the company is targeting for the first half of 2026.
Beyond Chisebuka, geological mapping and ground radiometric surveys are also scheduled at the Namakande 1 and 2 targets to refine priority areas for drilling next year.
This article was developed in collaboration with Atomic Eagle, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
Originally published as Atomic Eagle hits thick uranium at Zambia’s Muntanga
