Highlights

  • The company commissioned an initial aircore programme of more than 5,000 metres after reviewing passive seismic results and obtaining environmental authorisations.
  • Energy Metals operates the Bigrlyi uranium-vanadium joint venture with a 72.39% interest.
  • The Ngalia Regional project comprises extensive company-controlled licences around the Bigrlyi joint venture.
  • Next steps include completing regional drilling, receiving chemical assays and reviewing whether targets Warrant further work.

Energy Metals (ASX:EME) expanded its 2026 uranium exploration focus in the Northern Territory while retaining the advanced Bigrlyi project as a cornerstone of its portfolio.

The latest Ngalia Regional programme is an exploration step, separate from the existing resource definition at Bigrlyi.

Ngalia Aircore Exploration Underway

The company commissioned an initial aircore programme of more than 5,000 metres after reviewing passive seismic results and obtaining environmental authorisations. Drilling was underway by the end of September 2026, with work testing possible palaeochannel features. Initial Gamma logging did not identify significant mineralised intervals during the period described. Check samples were to undergo chemical assays after the programme, with results targeted before year end.

Bigrlyi Resource Provides Existing Base

Energy Metals operates the Bigrlyi uranium-vanadium joint venture with a 72.39% interest. The 2025 mineral resource estimate totals approximately 7.94 million tonnes at 1,370 parts per million uranium oxide, equivalent to around 23.9 million pounds of U3O8, at the stated 500 ppm cut-off. The resource includes measured, indicated and inferred material. Resource estimates are distinct from ore reserves and do not establish an operating mine.

Wider Tenements and Further Targets

The Ngalia Regional project comprises extensive company-controlled licences around the Bigrlyi joint venture. The company is also pursuing the Macallan application, where engagement with Traditional Owners and the Central Land Council remains necessary before tenure can be granted. These areas represent different stages of exploration and access planning, and there is no basis to treat their prospective mineralisation as Bigrlyi-equivalent resources.

Outlook: Next Development Priorities

Next steps include completing regional drilling, receiving chemical assays and reviewing whether targets warrant further work. Development timelines and additional discoveries remain uncertain pending exploration and tenure outcomes.

EME shares traded at AUD 0.077 on 6 November 2026, with a daily change of 0.00%. Market Capitalisation was approximately AUD 16.15 million.