Atomic Eagle has announced a development path for its Muntanga Uranium Project in Zambia, targeting production by 2031. The plan includes a 30,000-meter drill program through 2026, a JORC resource update in early 2027, and financing in 2028.
Atomic Eagle has completed metallurgical test work on the Muntanga East uranium deposit in Zambia, reporting uranium recoveries between 81% and 86% via bottle roll and column leach tests. The tests demonstrated low acid consumption and favorable physical characteristics for heap leach processing, supporting the economic viability of lower-grade material.
Atomic Eagle has announced successful metallurgical testwork for the Muntanga East uranium deposit in Zambia. The results demonstrated strong uranium recoveries of 81-86% using heap leach methods with exceptionally low acid consumption.
Atomic Eagle's drilling at the Muntanga Uranium Project in Zambia has identified two new targets: Muntanga North Target 5 and Namakande Target 2. The program has completed over 12,000 meters of wide-spaced drilling, revealing broad zones of uranium mineralization, though current grades are derived from gamma logging.
Atomic Eagle has secured a binding commitment from its largest shareholder, Menel Energy and Resources, to exercise 35.1 million options early, providing $10.9 million in funding. This capital injection, combined with existing cash, brings the company's total available cash to approximately $23 million, funding its uranium projects in Zambia and Niger through 2028.
Atomic Eagle is advancing two uranium growth options: a binding option for the Sitwe project in Zambia and ongoing negotiations for the Madaouela project in Niger. The Madaouela project holds a significant resource of 99.0 million pounds of uranium oxide at 1,319 ppm, providing high-grade upside to the company's portfolio.
