Overview of PNX Metals' Thunderball Uranium Deposit Analysis

PNX Metals Limited (ASX: $PNX) has reported the completion of a Gap Analysis by SRK Consulting on the Thunderball Uranium deposit, highlighting the potential to extend high-grade mineralisation and make further uranium discoveries regionally. The Thunderball Uranium deposit is located approximately 200 km southeast of Darwin in the Northern Territory, Australia. The Pine Creek region, where the deposit is situated, is recognized as one of the world's largest and richest uranium provinces.

Executive Chairman's Perspective on Thunderball Uranium Deposit Analysis

The gap analysis has improved our confidence in the Thunderball Uranium deposit and highlights significant grade and resource upside potential. Exploration fieldwork is underway, and drilling is planned to target extensions to known mineralisation, discover additional mineralised shoots, and test regional prospects exhibiting surface anomalism. The use of downhole gamma logging is a breakthrough that will allow for a much more extensive and consistent dataset to be used. Plans for the upcoming exploration season, including drilling on several targets, are progressing, and we look forward to providing further updates in due course.

Summary of Thunderball Uranium Deposit Analysis and Future Plans

PNX Metals Limited has identified significant potential to extend high-grade mineralisation and make further uranium discoveries regionally at the Thunderball Uranium deposit. The completion of the gap analysis has improved confidence in the deposit and highlighted substantial grade and resource upside potential. The company's exploration fieldwork is underway, with plans for drilling to target extensions to known mineralisation, discover additional mineralised shoots, and test regional prospects exhibiting surface anomalism. The use of downhole gamma logging is expected to provide a much more extensive and consistent dataset for future use. PNX Metals Limited is looking forward to providing further updates as the exploration progresses and the drilling commences in May, subject to government approvals.