Overview of PNX Metals' latest announcement

PNX Metals Limited (ASX: $PNX) has re-established key datasets to evaluate the Thunderball Uranium deposit in the Pine Creek Region of the NT. The company aims to upgrade the historic resource to JORC 2012 compliance in 2024 and has identified several priority uranium targets, including potential extensions to the near-surface Thunderball deposit.

Executive commentary on the latest developments

PNX Executive Chairman Graham Ascough stated, 'PNX has a very large landholding in a world-renowned uranium province including a known uranium deposit with numerous high-grade prospects. The recent significant rise of the uranium price has resulted in strong interest in the Uranium potential at Hayes Creek, and the assessment and ranking of targets will be a priority over the NT wet season. Early results of the compilation efforts have identified new targets and highlighted previously identified targets that have seen little field work since 2011.'

Summary of PNX Metals' announcement

PNX Metals (ASX: $PNX) has re-established key datasets to evaluate the Thunderball Uranium deposit and identified several priority uranium targets, including potential extensions to the near-surface Thunderball deposit. The company aims to upgrade the historic resource to JORC 2012 compliance in 2024. PNX's Executive Chairman, Graham Ascough, highlighted the company's large landholding in a world-renowned uranium province and the strong interest in the Uranium potential at Hayes Creek. The assessment and ranking of targets will be a priority over the NT wet season, with early results identifying new targets and highlighting previously identified targets that have seen little field work since 2011. The initial evaluation is expected to be completed early in 2024 with recommendations for the next phase of work to follow, focusing on resource growth and development of work programs for priority prospects.