{"id":7977,"date":"2024-04-03T23:55:19","date_gmt":"2024-04-03T23:55:19","guid":{"rendered":"https:\/\/economicherald.net\/?p=7977"},"modified":"2024-04-03T23:55:19","modified_gmt":"2024-04-03T23:55:19","slug":"pnx-goes-to-top-of-grade-class-for-aussie-uranium-miners","status":"publish","type":"post","link":"https:\/\/economicherald.net\/?p=7977","title":{"rendered":"PNX goes to top of grade class for Aussie uranium miners"},"content":{"rendered":"<p>Special Report: Latest data on uranium intercepts show PNX Metals is the Australian high grade champion by a Top End country mile. <\/p>\n<p>March Quarter data compiled by MinerDeck puts PNX No. 4 on its list of top intercepts for Q1 2024. <a href=\"https:\/\/stockhead.com.au\/?s=PNX\"><strong>PNX Metals (ASX:PNX)<\/strong><\/a>\u00a0comes in below three companies that are all drilling in Canada\u2019s Athabasca Basin, but is a long way ahead of other Aussie explorers.<\/p>\n<p>The MinerDeck mention highlights the high-grade resource growth potential of PNX\u2019s Thunderball deposit in one of the world\u2019s most prolific uranium provinces, the Northern Territory\u2019s Pine Creek region.<\/p>\n<p>Thunderball\u2019s potential was underscored by exciting results from PNX\u2019s review of historical, previously unreported drilling announced in February. Among the results was an intersection of <a href=\"https:\/\/stockhead.com.au\/resources\/pnx-discovers-a-forgotten-treasure-trove-of-high-grade-uranium-at-thunderball\/\">15m at 1.35% U3O8<\/a> from 210m, which included 1.5m at 10.2% U3O8 from 215m.<\/p>\n<p>U3O8 is the formula for triuranium octoxide, a compound of uranium that is shipped between mills and refineries.<\/p>\n<p>\u00a0<\/p>\n<h2><strong>Historical data, future potential<\/strong><\/h2>\n<p>During the large-scale review,\u00a0PNX identified eight drill holes from 2014 which had not previously been released or included in the historical Thunderball resource estimate.<\/p>\n<p>The results released in February also highlighted a number of high-priority, near-surface targets that require more testing.<\/p>\n<p>The Pine Creek region is home to the Alligator River, Rum Jungle and South Alligator Valley uranium fields, and PNX is now looking forward to this year\u2019s field season based on its new insights.<\/p>\n<p>\u201cThe review results have injected added excitement into our planning for this year,\u201d PNX executive chairman Graham Ascough said.<\/p>\n<p>\u201cThey demonstrate the potential for high grade domains in the upper and lower lodes at Thunderball, and new near-surface regional discoveries.\u201d<\/p>\n<p>Late last year,\u00a0<a href=\"https:\/\/stockhead.com.au\/resources\/pnx-gains-back-pine-creek-uranium-rights-as-clean-energy-takes-centre-stage\/\"><strong>the uranium rights over a substantial portion of its Pine Creek tenure<\/strong><\/a>\u00a0were returned to PNX after the expiration of a 10-year third-party agreement with private company Oz Uranium.<\/p>\n<p>It was Oz Uranium that completed the eight drill holes not publicly reported at the time.<\/p>\n<p>\u00a0<\/p>\n<h2><strong>Eyes on gold, precious metals too<\/strong><\/h2>\n<p>Around the same time Oz Uranium also drilled a single hole at the Goldeneye prospect, 4km southwest of Thunderball, which also yielded potentially economic grades of uranium as well as precious metals.<\/p>\n<p>Top intercepts measured 1.5m at 94.7ppm uranium and 2.36 grams per tonne (g\/t) gold, platinum and palladium from 34m, and 4m at 1.94g\/t gold, platinum and palladium from 37m.<\/p>\n<p>\u00a0<\/p>\n<h2><strong>About PNX <\/strong><\/h2>\n<p>PNX holds significant mineral resources containing 0.5 Moz gold, 16.2 Moz silver and 177,000 tonnes of zinc at its <a href=\"https:\/\/stockhead.com.au\/resources\/pnx-gets-high-grade-news-from-c6-trenches\/\">100% owned Hayes Creek zinc-gold-silver, and Fountain Head gold projects<\/a>. These are adjacent to the Thunderball uranium deposit and several nearby uranium prospects in the Pine Creek region.<\/p>\n<p>In addition to exploring for uranium, PNX has been <a href=\"https:\/\/stockhead.com.au\/resources\/pnx-receives-milestone-environmental-approval-for-fountain-head-gold-project\/\">progressing development studies at Fountain Head and in 2023 received environmental<\/a> approvals, with mining approvals expected to be granted imminently.<\/p>\n<p><a href=\"https:\/\/stockhead.com.au\/resources\/pnx-metals-attracts-a-suitor-sending-shares-flying\/\">PNX attracted the advances of Western Australia-based Kin Mining<\/a>, which tabled an unsolicited, non-binding, indicative merger proposal for the company. PNX has said the talks were ongoing and remained incomplete, and that there was no certainty that a merger or any transaction would eventuate.<\/p>\n<p>\u00a0<\/p>\n\n<p><span class=\"mce_SELRES_start\">\ufeff<\/span>\u00a0<\/p>\n<p><em>This article was developed in collaboration with PNX Metals, a Stockhead advertiser at the time of publishing. <\/em><\/p>\n<p><em>\u00a0<\/em><\/p>\n<p><em>This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.<\/em><\/p>\n<p><span class=\"et_bloom_bottom_trigger\"><\/span><\/p>\n<p>The post <a href=\"https:\/\/stockhead.com.au\/resources\/pnx-goes-to-top-of-grade-class-for-aussie-uranium-miners\/\">PNX goes to top of grade class for Aussie uranium miners<\/a> appeared first on <a href=\"https:\/\/stockhead.com.au\/\">Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"<p>Special Report: Latest data on uranium intercepts show PNX Metals is the Australian high grade champion by a Top End country mile. March Quarter data <a href=\"https:\/\/economicherald.net\/?p=7977\" class=\"read-more-link\">[more&#8230;]<\/a><\/p>\n","protected":false},"author":0,"featured_media":7978,"comment_status":"","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-7977","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>PNX goes to top of grade class for Aussie uranium miners - Economic Herald<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/economicherald.net\/?p=7977\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"PNX goes to top of grade class for Aussie uranium miners - Economic Herald\" \/>\n<meta property=\"og:description\" content=\"Special Report: Latest data on uranium intercepts show PNX Metals is the Australian high grade champion by a Top End country mile. 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