PNX Metals (ASX: $PNX) announcement overview

PNX Metals Limited (ASX: $PNX) has been approved for co-funding by the NT Government to conduct a deep diamond hole down-dip of the current Thunderball uranium deposit. The drill program, expected to commence in September 2024, is part of a broader drilling program planned at Thunderball and within the Hayes Creek uranium field. This initiative follows the proposed merger with Kin Mining NL, which is on track for completion in late August 2024.

Executive Chairman's Comment

We thank the NT Government for approving this grant to target deep uranium mineralisation at the Thunderball uranium deposit. The approval highlights the significant uranium prospectivity within PNX's Hayes Creek project area and the data collected from this drill hole and other planned drilling around Hayes Creek will provide stronger controls to target uranium mineralisation across PNX's extensive Pine Creek landholding.

Summary of PNX Metals (ASX: $PNX) announcement

PNX Metals Limited (ASX: $PNX) has secured co-funding from the NT Government for a deep diamond hole down-dip of the Thunderball uranium deposit as part of the broader drilling program planned at Thunderball and within the Hayes Creek uranium field. The drill program, expected to commence in September 2024, will address recommendations made by SRK Consulting and target extensions of the known Thunderball uranium deposit, additional high-grade uranium lodes, and conceptual uranium targets across the regional Hayes Creek Fault. The proposed merger with Kin Mining NL remains on track for completion in late August 2024, and the drilling is expected to commence after the transaction in September 2024, creating a well-funded mineral exploration and development company with projects across highly prospective mineral provinces in the NT and WA.