Patronus Resources Unveils High-Grade Uranium Breakthrough at Thunderball

Exceptional Uranium Intercept at Thunderball

Patronus Resources (ASX – PTN) has released final assay results from its 2025 drilling campaign at the Thunderball Uranium Deposit, located within the Pine Creek Project in Australia's Northern Territory. The highlight is a remarkable intercept of 10.76 metres grading 2.95% uranium oxide (U3O8), including a 3-metre section at an extraordinary 9.7% U3O8. This intercept, from drill hole TB25DD004, confirms the Upper Lode as a newly emerging, high-grade zone complementing the previously known Main Lode.

Geological Significance and Regional Context

The Thunderball deposit lies within the geologically rich Pine Creek Orogen, a region known for hosting some of the world’s most significant uranium deposits. The mineralisation is structurally controlled, occurring where brittle deformation intersects pyrite-rich volcanic sediments. Patronus’ drilling results support a robust unconformity-related uranium system, a style associated globally with large, high-grade deposits.

Importantly, Thunderball is situated within a 5-kilometre radius cluster of uranium targets, suggesting the potential for a multi-deposit development scenario. This cluster includes several high-priority prospects that Patronus is systematically ranking to identify additional mineralised centres, which could significantly enhance the project’s scale and economic potential.

Strategic Outlook and Broader Portfolio

John Ingram, Managing Director of Patronus Resources, emphasised the strategic value of these results, noting the clear pathway towards defining a multi-lode, multi-deposit uranium district. The company is actively assessing partnerships and strategic options to unlock value from Thunderball while continuing to advance its broader gold and base metals portfolio across Western Australia and the Northern Territory.

Patronus holds a strong balance sheet with $78 million in cash and liquid investments as of September 2025, positioning it well to fund ongoing exploration and development activities. The company’s portfolio also includes significant gold resources exceeding 1.2 million ounces and base metals projects with substantial zinc, lead, silver, and gold resources.

Next Steps and Market Implications

Looking ahead, Patronus is reviewing work programs for 2026 to further delineate the Thunderball deposit and surrounding targets. Additional analytical work, including mineralogy and geochemistry, is planned to refine the geological model and test the unconformity-related deposit hypothesis. While true widths of mineralisation remain to be confirmed due to drill orientation, the current data provides a compelling foundation for resource expansion.

These developments come at a time of heightened global interest in uranium as a clean energy metal, potentially positioning Patronus Resources as a key player in the sector. Investors will be watching closely for updates on resource estimates, partnership announcements, and exploration progress that could drive the company’s valuation and strategic positioning.