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Tombador Iron Ltd. ( (AU:AEU) ) has issued an announcement.
Atomic Eagle Limited has reported a 24% increase in total mineral resources at its Muntanga Uranium Project in Zambia, lifting the inventory to 58.8 million pounds of U₃O₈ at 309 ppm following its maiden drilling campaign. The update includes maiden pit‑constrained resource estimates for the Chisebuka and Muntanga East deposits, where inferred resources now stand at 9.7 million and 1.7 million pounds of U₃O₈ respectively.
The resource growth was achieved at a low discovery cost of US$0.05 per pound, highlighting strong exploration efficiency relative to the prevailing uranium price environment. Backed by A$19.2 million in cash at the end of 2025, Atomic Eagle plans to launch the largest drill program at Muntanga in nearly two decades later this month, aiming to substantially expand the resource base and support the case for a significantly larger uranium mine in Zambia, potentially enhancing long‑term value for shareholders and strengthening its position in the uranium sector.
More about Tombador Iron Ltd.
Atomic Eagle Limited is an ASX- and OTCQB-listed uranium exploration company focused on advancing the Muntanga Uranium Project in Zambia. The company targets growth in its mineral resource base to support development of a larger-scale uranium mining operation, leveraging substantial cash reserves to fund aggressive drilling and exploration activities in the region.
Average Trading Volume: 1,305,660
Technical Sentiment Signal: Buy
Current Market Cap: A$191.6M
For detailed information about AEU stock, go to TipRanks’ Stock Analysis page.