Atomic Eagle Ltd (ASX:AEU, FRA:6QZ0) has kicked off a major 30,000-metre drilling campaign at its flagship Muntanga Uranium Project in Zambia, targeting resource growth and new discoveries across multiple high-priority zones.
The program marks the company’s first large-scale field campaign since lifting the project’s mineral resource by 24% earlier this year to 58.8 million pounds (Mlbs) of triuranium octoxide (U₃O₈) at 309 parts per million (ppm). It is aimed at underpinning a significantly larger development scenario.
“Having already demonstrated the success of our initial exploration program that saw the resource increase by 24% to 58.8Mlbs U₃O₈ within three months of owning the project, we are excited to commence a 30,000-metre program where we will be testing several high-priority exploration targets,” Hoskins said.
“Our strategy is to grow the resource to underpin a significantly larger mining operation than that contemplated in the previous feasibility study,” he added. “With two rigs drilling and numerous walk-up drill targets, we believe there is great potential to expand upon the existing resource.”
Drill rig #1 at Chisebuka.
Multi-target program across district-scale system
Drilling is being carried out across three key areas within the broader Muntanga tenure, with multiple rigs and geophysical crews now active on site.
Muntanga Project: Locations of drill program.
The program is split among:
- Chisebuka – infill drilling to convert known mineralisation into higher-confidence JORC resources;
- Namakande 1 and 2 – maiden drilling targeting new discoveries; and
- Muntanga North – a large, largely untested exploration zone.
Together, these targets are designed to both grow the existing resource base and identify additional near-surface mineralisation suitable for open-pit mining.
The company said it is fully funded to execute its exploration plans through 2026 and 2027, providing continuity for what is shaping up as an aggressive expansion strategy.
Chisebuka to drive near-term resource growth
At Chisebuka, Atomic Eagle is focusing on upgrading and expanding a recently defined resource of 9.7Mlbs U₃O₈.
The target has already seen substantial drilling, including 69 holes completed in late 2025, and is now being tightened through infill work to improve geological confidence and convert remaining mineralisation into a formal resource.
Chisebuka target – proposed drill hole locations.
Management highlighted the efficiency of earlier drilling at Chisebuka, which delivered resource additions at a low discovery cost, supporting its role as a near-term contributor to overall project scale.
Testing new discovery potential
Beyond resource conversion, a significant portion of the program is directed at unlocking new zones.
At Namakande, maiden drilling will follow ground-based radiometric surveys designed to refine anomalies identified from airborne data.
Namakande 1 and 2 targets relative to geology, structures, radiometric anomalies and soils.
These targets sit within the Kariba Valley licence and share geological characteristics with known deposits at Muntanga and Dibbwi East, including favourable host rocks and structural traps.
Namakande 1 and 2 – proposed scintillometer lines and drill holes.
Meanwhile, Muntanga North represents a large-scale exploration opportunity covering around 80 square kilometres. Despite its size, the area remains largely undrilled, with only limited historical work returning encouraging uranium intercepts.
Muntanga North targets relative to geology, structures, radiometric anomalies and soils.
Geological mapping and geophysical surveys have identified multiple radiometric anomalies across the zone, supported by soil sampling and radon data, pointing to the potential for additional mineralised systems.
Initial drilling here will test eight discrete targets on broad spacing, with follow-up work expected to refine any discoveries.
Muntanga North – proposed scintillometer lines and drill holes.
Building towards a larger development case
The 2026 drilling campaign is central to Atomic Eagle’s strategy of scaling up the Muntanga project beyond the parameters outlined in earlier feasibility work.
Management has flagged ambitions to grow the resource base sufficiently to support a larger mining operation, leveraging the project’s extensive landholding and multiple mineralised zones.
Located near existing infrastructure and export routes, Muntanga already hosts a combined measured, indicated and inferred resource of 58.8Mlbs U₃O₈, positioning it as one of the more advanced uranium projects in the region.
With rigs now turning and multiple targets in play, the current program is expected to generate a steady stream of exploration results over the coming months, potentially reshaping the project’s scale and development outlook.
Source: Atomic Eagle