Atomic Eagle Unveils Thick, High-Grade Uranium at Chisebuka; Resource Estimate on Horizon
Atomic Eagle’s maiden drilling at the Chisebuka target within Zambia’s Muntanga Project reveals substantial near-surface uranium mineralisation, setting the stage for a maiden resource estimate in 2026.
- Maiden drill program confirms thick, higher-grade uranium near surface
- Significant intercepts include 16.4m at 1036ppm eU3O8 and 29.4m at 439ppm eU3O8
- Drilling ongoing with 46 of 100 holes completed, aiming for resource estimate next year
- Chisebuka extends mineralised province 60km southwest of existing deposits
- Company well funded with approximately AUD 20 million cash for aggressive exploration
Exploration Breakthrough at Chisebuka
Atomic Eagle Limited (ASX, AEU) has announced promising initial results from its maiden drilling campaign at the Chisebuka target, part of the expansive Muntanga Uranium Project in Zambia. After more than 15 years since the last major drilling activity at Chisebuka, the company’s program has confirmed the presence of thick, near-surface uranium mineralisation with encouraging grades.
The drilling has returned broad intercepts such as 16.4 metres at 1036 parts per million equivalent uranium oxide (eU3O8) starting from just 13.5 metres depth, and 29.4 metres at 439ppm eU3O8 from 32.2 metres. These results highlight the potential for a significant resource within a 3.5km by 1.2km target area, reinforcing Chisebuka’s status as a high-priority exploration target estimated to hold between 8.3 and 13.2 million pounds of U3O8.
Strategic Resource Expansion
Atomic Eagle’s CEO Phil Hoskins emphasized the strategic importance of these results, noting that Chisebuka is the first of six exploration targets slated for drilling across the company’s 1,126 square kilometre licence area. The discovery of an additional mineralised province some 60 kilometres southwest of previously defined deposits such as Muntanga, Dibbwi, and Dibbwi East, underscores the vast exploration potential within the Karoo basin sandstones.
The current drilling program, involving two percussion rigs, is focused on infilling previous broad-spaced drill lines to improve geological confidence. With 46 holes completed out of a planned 100, the company aims to tighten drill spacing further in 2026 to enable the estimation of a maiden Mineral Resource for Chisebuka.
Robust Funding and Forward Plans
Atomic Eagle is well capitalised with approximately AUD 20 million in cash, positioning it to aggressively pursue resource growth and new discoveries. The company is finalising its 2026 exploration program, which will include further drilling at Chisebuka and initial testing of other promising targets such as Namakande 1 and 2 within the Kariba Valley licence.
Importantly, the Muntanga Project already hosts a JORC Mineral Resource Estimate of 40 million pounds of uranium oxide in measured and indicated categories, with an additional exploration target of up to 100 million pounds. The new results from Chisebuka could significantly add to this resource base, enhancing the project’s scale and economic potential.
Technical Confidence and Next Steps
The uranium grades reported are derived from calibrated down-hole gamma logging, a method that provides a reliable estimate of uranium content over broad intervals. While chemical assays are pending to validate these findings, the company has established robust quality control and calibration protocols to ensure data integrity.
Looking ahead, Atomic Eagle plans to complete the current drill program in early 2026, followed by a Mineral Resource Estimate for Chisebuka. Concurrently, geological mapping and radiometric surveys will refine drill targets across the broader licence area, setting the stage for what could be the largest exploration campaign at Muntanga in nearly two decades.
Bottom Line?
Atomic Eagle’s Chisebuka results mark a pivotal step in unlocking Zambia’s uranium potential, with a resource estimate due next year poised to reshape the project’s outlook.
Questions in the middle?
- How will pending chemical assay results compare with gamma logging data?
- What are the timelines and expected scale for drilling at other exploration targets?
- How might uranium market dynamics influence project development and financing?
