Denison Energy Corperation, has started pursuing uranium exploration at the Muntanga Mine in Siavonga District.

The Canadian firm is a result of a merger between Fission Uranium and Denison Mines in July this year to create a US$900 million exploration and development company which would combine top uranium assets.

According to the organisations's financial report for the first six months of the year 2015, so far in Zambia, the company's exploration expenditures at the Muntanga project during the three and six months ended June 30, 2015 were $159,000 and $217,000, respectively.

An excavator trenching programme was completed during the second quarter of 2015, and a programme of surficial geochemistry is scheduled to follow during the second half of the year 2015.

"Various monetisation options in respect of Denison's African exploration and development portfolio, including the Falea project in Mali and the Muntanga project in Zambia, are being considered by the combined company," the firm said.

The exploration at the Muntanga project will be fully pursued when market conditions permit.

Canada's Denison Mines in 2013 said it would only start developing its planned uranium mine in Zambia when prices for the yellow metal rise to attractive levels.

"We need prices that are above $65 per lb of uranium oxide to make the Muntanga project feasible," Andrew Goode, Denison's project director for Africa at the time told the media.