InvestSMART

Atomic Eagle Ltd (ASX:AEU)

ALERT: Price-sensitive ASX Announcement for AEU
Current share price for AEU : $0.520 0.06 (13.04%)+
Announcement
Release
24 Aug 2026 8:06AM
Price at Release
$0.460
Full Release
download
Summary
Atomic Eagle Limited has announced an updated foreign Mineral Resource Estimate for the Madaouela Uranium Project located in Niger, reporting 116 million pounds of U3O8 at a grade of 1282 parts per million. This estimate, derived from historical drilling and technical studies, includes significant measured, indicated, and inferred resources. The report highlights that the estimate is considered a foreign estimate under the ASX Listing Rules, as it does not comply with the JORC Code but is based on the Canadian NI 43-101 standards. Atomic Eagle is planning to upgrade this foreign estimate to meet JORC standards by the end of 2026, supported by a newly agreed mining convention in Niger. The project, which spans an area of approximately 122.9 km² near Arlit, contains sandstone-hosted uranium deposits and is considered to have substantial potential for large-scale uranium mining operations.
Key Points
  • Madaouela Uranium Project in Niger has a foreign Mineral Resource Estimate of 116Mlbs U3O8 at 1282ppm.
  • The Mineral Resource is based on historical drilling and technical studies.
  • Estimate includes Measured & Indicated Resource of 96.9Mlbs U3O8 and Inferred Resource of 19.6Mlbs U3O8.
  • The estimate is not compliant with the JORC Code and is considered a foreign estimate.
  • Extensive prior drilling (~600,000m) and feasibility-level technical studies have been completed.
  • Mining Convention provides an established framework for financing and development.
  • Atomic Eagle plans to convert the foreign estimate to a JORC 2012 compliant Mineral Resource Estimate in 2026.
  • The project is located near Arlit in north central Niger, covering approximately 122.9km2.
  • The geology comprises sandstone-hosted uranium deposits with some containing economic concentrations of molybdenum.
  • A program of work to enable JORC reporting is planned, including validation of drilling data and QA/QC assessments.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.