Atomic Eagle Finds Two New Uranium Zones Up to 1,000m Wide at Muntanga
Key Takeaways
- Wide-spaced first-pass drilling at Muntanga North Target 5 has identified a uranium mineralisation zone interpreted over 600m x 200m, remaining open along strike and down dip to the east.
- Initial drilling at Namakande Target 2 intersected a broad continuous zone of 1,000m x 400m, with standout intercepts including 1.50m at 1,342ppm eU₃O₈, though intercepts are generally thin at less than 2m.
- Chisebuka infill drilling across 42 holes for 4,209m has expanded the northern higher-grade zone to 900m x 600m and defined a south-west zone of 830m x 400m, with results designed to support future Mineral Resource estimation.
- Muntanga North Targets 6, 7, and 8 — described as large-scale early-stage targets — remain completely undrilled and represent the program's next major catalyst, with drilling expected to complete in Q4 2026.
- Muntanga already hosts a JORC Mineral Resource of 58.8Mlb at 309ppm U₃O₈, and the 30,000m 2026 program is explicitly designed to grow that resource base.
New drilling zones identified across two targets at Muntanga
Atomic Eagle (ASX: AEU) has released an exploration update from its active 2026 drilling program at the Muntanga Uranium Project in Zambia, targeting resource growth across three separate areas: Chisebuka, Muntanga North, and Namakande.
Two headline findings stand out. Wide-spaced drilling at Muntanga North has identified a zone of uranium mineralisation interpreted over approximately 600m x 200m at Target 5, remaining open along strike and down dip to the east. At Namakande, initial drilling intersected a broad continuous zone measuring 1,000m x 400m. This announcement is a JORC-amended release, updated to include additional disclosures required under the JORC Code following consultation with the ASX.
CEO Phil Hoskins
“The objective of our 30,000m drilling program is to grow the Muntanga resource base while systematically testing a portfolio of exploration targets across the broader Project area… We are over half-way through an active exploration program, with the large-scale Muntanga North Targets 6 to 8 still to be tested.”
When big ASX news breaks, our subscribers know first
What the drill results show — target by target
Chisebuka — infill drilling supports resource growth
The first phase of the 2026 program completed 42 holes for 4,209m at Chisebuka. Key outcomes include the expansion of the northern higher-grade zone to a surface expression of 900m x 600m, with mineralisation extending from surface to more than 100m depth. A separate higher-grade zone in the south-west measures 830m x 400m, starting near surface and extending below 100m depth down plunge. This infill work is designed to support future Mineral Resource estimation.
Chisebuka SW zone drilling from an earlier phase of the program had already confirmed a higher-grade corridor in the south-west, providing the geological context that underpins the current infill strategy targeting resource estimation.
Muntanga North — mineralisation zone identified at Target 5
AEU completed 64 wide-spaced exploration holes for 5,995m across Muntanga North Targets 1 to 5. This represents first-pass testing of early-stage exploration targets.
At Target 5, drilling identified a zone of uranium mineralisation interpreted over approximately 600m x 200m, striking broadly parallel to bedding. The zone remains open along strike and down dip to the east, and further drilling and geological interpretation will be required to determine its geometry, scale, continuity, and significance.
Standout intercepts from Target 5 (Table 1) include:
- MNDTH2295: 7.07m @ 132ppm eU₃O₈
- MNDTH2297: 5.55m @ 135ppm eU₃O₈
- MNDTH2286: 5.55m @ 124ppm eU₃O₈
- MNDTH2283: 3.1m @ 344ppm eU₃O₈
Targets 1 to 3 returned no anomalous uranium mineralisation, with the radiometric response interpreted to reflect near-surface weathering enrichment. Target 4 recorded a discrete anomalous intercept, but drilling has not identified a zone warranting immediate follow-up. Targets 6, 7, and 8 are large-scale early-stage targets that remain to be tested.
Namakande — large continuous zone intersected at Target 2
A total of 60 wide-spaced exploration holes for 6,832m were completed at the Namakande targets.
At Target 2, initial drilling intersected a broad zone of 1,000m x 400m of shallow-dipping, bedding-conformable uranium mineralisation. Although some intercepts returned grades exceeding 500ppm, intercepts in this zone have generally been relatively thin (less than 2m), and further drilling is required to test scale, continuity, and significance.
Standout intercepts from Target 2 (Table 2) include:
- NADTH2357: 1.50m @ 1,342ppm eU₃O₈
- NADTH2357: 1.55m @ 916ppm eU₃O₈
- NADTH2357: 1.15m @ 767ppm eU₃O₈
- NADTH2351: 2.29m @ 385ppm eU₃O₈
- NADTH2350: 1.05m @ 356ppm eU₃O₈
At Target 1, mineralisation is generally less than 3m thick and discontinuous. Namakande results will be incorporated into the geological model and reviewed together with radiometric and geochemical datasets.
Understanding uranium exploration — what these results mean for investors
These results come from what the company describes as wide-spaced, first-pass drilling. In uranium exploration, this means holes are drilled at wide intervals across a target area (in this case, a 400m x 400m grid) to establish whether mineralisation is present at all. It is not designed to define a resource — that requires tighter infill drilling to confirm grade continuity and geometry.
The grades in these results are measured in eU₃O₈, which stands for equivalent uranium trioxide. Rather than physically assaying rock samples, this measure is derived from downhole gamma logging, a standard and accepted method for this style of sediment-hosted uranium deposit. It estimates uranium content based on natural gamma radiation readings taken along the drill hole.
When a zone is described as “open along strike and down dip,” it means the boundary of the mineralised zone has not been found in that direction. That is a positive signal: the mineralisation could extend further than currently mapped, suggesting potential for expansion with additional drilling.
Muntanga already hosts a JORC Mineral Resource of 58.8Mlb at 309ppm U₃O₈. The 2026 program is designed to grow that resource base. Atomic Eagle also holds a 60% interest in the Madaouela Uranium Project in Niger, which hosts a Mineral Resource of 116.5Mlb at 1,282ppm U₃O₈ reported as a foreign estimate. Investors should note this is a foreign estimate prepared in accordance with Canadian National Instrument 43-101 (NI 43-101) and is not reported in accordance with the JORC Code. A competent person has not done sufficient work to classify the foreign estimate as a Mineral Resource under the JORC Code, and it is uncertain whether, following evaluation and further exploration, the foreign estimate will be able to be reported as a JORC Mineral Resource.
The next major ASX story will hit our subscribers first
What comes next — key milestones to watch
The company has outlined the following next steps:
- Follow-up drilling at Muntanga North Target 5 to test the interpreted extensions of the mineralised zone along strike and down dip to the east.
- Ground radiometric surveying and first-pass drilling to continue across Muntanga North Targets 6, 7, and 8 — large-scale, early-stage targets yet to be tested.
- Integration of completed Muntanga North and Namakande drilling data with the geological, radiometric, and geochemical datasets to refine the targeting model.
- Drilling at the current Muntanga North targets is expected to be completed in Q4 2026.
Targets 6, 7, and 8 represent the program’s next significant catalyst. These large-scale targets have not yet been drilled, and initial drilling will seek to establish the geological source of the anomalies and determine whether further work is warranted. AEU’s stated objective is to grow the Muntanga resource base to support a larger-scale development opportunity, against a backdrop of growing global demand for nuclear fuel.
| Target Area | Holes Completed | Metres Drilled | Key Finding | Status |
|---|---|---|---|---|
| Chisebuka | 42 | 4,209m | Two higher-grade zones defined | Phase 1 complete |
| Muntanga North (T1–5) | 64 | 5,995m | 600m x 200m zone at Target 5 | Follow-up drilling planned |
| Namakande | 60 | 6,832m | 1,000m x 400m zone at Target 2 | Data integration underway |
| Muntanga North (T6–8) | 0 | TBC | Large-scale targets untested | Drilling pending |
Don’t Miss the Next Uranium Discovery on the ASX
Get FREE breaking ASX uranium news delivered to your inbox within minutes of release, complete with in-depth analysis. Join 30,000+ subscribers already staying ahead of the market with Big News Blast. Click the “Free Alerts” button to receive real-time alerts the moment market-moving uranium news breaks.