By: Mining review Africa

Atomic Eagle CEO Phil Hoskins said: “To deliver a 24% increase in total resources from our maiden drill program – and to do so at a cost of just US$0.05 per pound – is a strong endorsement of our exploration approach and the potential scale of the uranium resources across our Muntanga Project area.

“This resource upgrade is a great start to achieving the Exploration Target we announced for the Project late last year. The Company aims to materially increase the mineral resource to underpin a significantly larger uranium mine in Zambia. We’re embarking on the largest drill program for the Project in almost 20 years later this month and we see clear scope for this program to significantly expand the Project’s resource inventory and unlock further value for shareholders.”

The maiden MRE incorporates results from Chisebuka and Muntanga East, increasing the total Inferred Resource to 35.8 Mt @ 238 ppm U₃O₈ (18.8 Mlbs). Chisebuka, the southernmost target, is now the second largest deposit in the Project area and may support a separate heap leach operation. Muntanga East, a near-surface flat-lying zone, provides a low strip-ratio addition to the mining inventory.

Upcoming exploration in 2026 will focus on expanding Chisebuka’s resources and testing additional priority targets, including Namakande and Muntanga North. With substantial cash reserves and a project area considered under-drilled relative to its potential, Atomic Eagle is positioned for aggressive resource growth at Muntanga.