Paladin Energy Hits Record Grade Uranium Result at Atlas as PLS Drilling Expands
Key Takeaways
- Hole PLS26-782 at Atlas returned the highest grade-thickness result in the zone's history at 43.0 eU₃O₈ %.m, including 12.5m grading 1.8% eU₃O₈ within a 42.1m total composite intersection.
- A step-out hole (PLS26-757) intersected mineralisation 270m northeast of the main Atlas discovery, opening a new target corridor and signalling the system is larger than initially defined.
- At R1515W, hole PLS26-779 identified a new mineralised zone approximately 100m east of the current Mineral Resource boundary, with follow-up hole PLS26-784 confirming the zone remains open.
- Across three active zones — Atlas, Saloon East, and R1515W — Paladin has now completed 73 drillholes totalling over 15,000m in 2026, with mineralisation open in all three areas.
- All results are preliminary eU₃O₈ estimates from calibrated gamma probe measurements; chemical assay verification has not yet been completed and may refine reported grades.
Atlas delivers record grade-thickness result as PLS drilling program expands
Paladin Energy has released a significant exploration update from its Patterson Lake South (PLS) Project in Saskatchewan, Canada, with drilling across three active zones: Atlas, Saloon East, and R1515W. The standout result comes from hole PLS26-782 at Atlas, which intersected 42.1m of total composite mineralisation including 26.4m grading 0.7% eU₃O₈ and 12.5m grading 1.8% eU₃O₈, representing the highest grade-thickness (GT) intersection returned from Atlas to date at 43.0 eU₃O₈ %.m. Atlas sits approximately 3.5km south of the Triple R deposit and forms part of the Saloon Trend.
All intersections are expressed as equivalent U₃O₈ (eU₃O₈) derived from calibrated downhole gamma probe measurements. Chemical assay verification has not yet been completed, so these results represent preliminary estimates within a JORC-compliant exploration programme.
Paul Hemburrow, MD and CEO
“The Atlas discovery is a significant exploration result that builds on the success of the Saloon East discovery in 2025. Both are located in the Saloon Trend to the south and broadly parallel with the Triple R deposit. These results demonstrate the potential scale of the PLS Project and the value in Paladin’s disciplined exploration strategy. We are continuing our extensive drilling program to upgrade resource confidence at Triple R, expand the resource and life of mine at PLS and to identify new discoveries in close proximity to PLS.”
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Three-zone drilling campaign returns high-grade intersections
Atlas — 25 drillholes and a system growing in scale
25 drillholes totalling 8,755.4m have now been completed at Atlas, with this announcement covering 17 new drillholes since the 25 June 2026 update. Key results include:
- PLS26-782: 42.1m total composite including 26.4m @ 0.7% eU₃O₈ and 12.5m @ 1.8% eU₃O₈, record GT result of 43.0 eU₃O₈ %.m
- PLS26-762A: 13.0m total composite including 4.1m @ 3.0% eU₃O₈, with 2.6m @ 4.7% eU₃O₈
- PLS26-773: 21.6m total composite including 3.3m @ 1.2% eU₃O₈ and 4.5m @ 1.1% eU₃O₈
- PLS26-757 (step-out): 2.3m @ 1.2% eU₃O₈ approximately 270m northeast of the main Atlas discovery, indicating potential scale extension and a new target corridor
Mineralisation remains open, with ongoing drilling targeting further extensions.
R1515W — new mineralised zone identified 100m east of existing resource
20 drillholes totalling 6,250.5m have been completed at R1515W, targeting extensions beyond the current Mineral Resource envelope. Key results include:
- PLS26-779: 12.7m total composite including 3.4m @ 0.7% eU₃O₈, approximately 100m east of the current R1515W Mineral Resource, representing a new zone
- PLS26-784 (follow-up to PLS26-779): 3.8m total composite including 2.6m @ 1.8% eU₃O₈, with mineralisation remaining open and confirmed as a priority follow-up target
- PLS26-751: 19.3m total composite including 12.6m @ 0.5% eU₃O₈
- PLS26-756: 21.5m total composite including 11.4m @ 0.5% eU₃O₈
The fact that mineralisation remains open across this zone signals meaningful upside for resource growth beyond the current footprint.
Saloon East — discovery footprint continues to grow
Saloon East was discovered in August 2024 and sits approximately 3.5km southeast of the Triple R deposit. 28 drillholes have now been completed since discovery. Notable 2026 results include:
- PLS26-729: 19.7m total composite including 8.7m @ 0.1% eU₃O₈
- PLS26-719: 14.0m total composite including 5.5m @ 0.1% eU₃O₈
- PLS26-727: 8.1m total composite including 5.4m @ 0.1% eU₃O₈
Mineralisation remains open along strike and at depth, reinforcing the company’s view that Saloon East has potential to contribute additional resources to the broader PLS Project.
| Zone | Hole ID | Total Composite (m) | Key Grade Interval | eU₃O₈ (%) |
|---|---|---|---|---|
| Atlas | PLS26-782 | 42.1m | 12.5m @ 1.8% (inc. within 26.4m @ 0.7%) | Record GT: 43.0 %.m |
| Atlas | PLS26-762A | 13.0m | 4.1m @ 3.0%, inc. 2.6m @ 4.7% | 3.0% / 4.7% |
| Atlas | PLS26-773 | 21.6m | 3.3m @ 1.2% and 4.5m @ 1.1% | 1.2% / 1.1% |
| R1515W | PLS26-779 | 12.7m | 3.4m @ 0.7% (~100m east of current resource) | 0.7% |
| Saloon East | PLS26-729 | 19.7m | 8.7m @ 0.1% | 0.1% |
What is equivalent U₃O₈ and why does it matter for exploration investors?
Equivalent U₃O₈ (eU₃O₈) is a uranium grade estimate derived from calibrated downhole gamma probe measurements, not from laboratory chemical assay. A gamma probe records the natural radioactivity of the rock as it is lowered down a drillhole, and that radiation response is converted into a uranium grade estimate using project-specific calibration factors.
This method is widely used in early-stage uranium drilling because it delivers rapid, real-time grade indications during active campaigns. Drillers can make faster follow-up decisions without waiting weeks for laboratory results. The trade-off is that eU₃O₈ values are preliminary estimates, not confirmed grades. Chemical assay verification occurs subsequently and may confirm, adjust, or refine the reported figures, so investors should treat these results as indicative rather than final.
Grade-thickness (GT), expressed as %.m, is calculated by multiplying the average grade of an interval by its length in metres. It gives a single metric for comparing the overall economic significance of different intersections. A higher GT means more uranium contained within a given intercept. The 43.0 eU₃O₈ %.m GT result from PLS26-782 is the highest recorded at Atlas to date, which is precisely why this hole stands out from the broader campaign.
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PLS Project strategy — building toward a Tier-1 development outcome
Paladin’s exploration strategy at PLS has three distinct objectives: resource extension drilling within the Triple R uranium zones, prospect delineation drilling converting discoveries like Atlas and Saloon East into future development targets, and regional exploration to identify entirely new discoveries.
All three zones drilled in this campaign sit in close proximity to the Triple R deposit, supporting the potential for resource consolidation and life-of-mine extension as the programme matures. The company describes PLS as a Tier-1, high-grade, shallow project in northern Saskatchewan’s Athabasca Basin. Paladin also holds a 75% ownership of the Langer Heinrich Mine in Namibia, which is currently producing and supplying uranium to major nuclear utilities.
Drilling continues with stated objectives to upgrade resource confidence at Triple R, expand the overall resource, extend the life of mine at PLS, and identify additional near-project discoveries. No specific timelines or production targets have been disclosed in the source announcement.
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