Patronus Resources Limited has issued an announcement detailing important updates regarding its Thunderball uranium project in the Northern Territory, a key asset situated in the uranium‐rich Pine Creek region. The company has retracted portions of its previous announcement that referenced a historic JORC 2004 Mineral Resource, clarifying that it currently lacks a sufficient basis and has not completed the necessary work to verify or release that historical resource information. Investors are cautioned to disregard the retracted resource details when making investment decisions. In its revised notice, Patronus Resources confirmed that a comprehensive re-assay program has validated the high-grade nature and continuity of the Thunderball uranium deposit. Highlighted intercepts include a notable 10m section grading 2.5% U3O8 from 145m (with an embedded 1m interval at 16.7% U3O8), a further 10m at 1.2% U3O8 from 139m (featuring 1m at 17.2% U3O8), and a 13m interval at 0.7% U3O8 from 135m (including 0.5m at 14.7% U3O8). These findings, which are supported by an updated geological interpretation, have set the stage for an ongoing six-hole diamond drill program aimed at testing the extension of mineralisation within both the Main and Upper lodes. The technical review, commissioned in 2024 by SRK Consulting, reinforces Thunderball’s potential as a significant uranium asset by aligning historical data with modern JORC 2012 standards. The announcement also notes that the deposit lies within a district hosting several high-potential uranium targets, suggesting an opportunity for a multi-deposit development scenario in a region already known for its world-class uranium projects. From a market sentiment perspective, the news has both bullish and bearish dimensions. On the bullish side, the re-assay results validate the high-grade uranium intersections, reinforcing the deposit’s potential and justifying further exploration through the drill program currently underway. The emphasis on district-scale opportunity and the enhanced geological model adds to the asset’s appeal and growth prospect, which may be attractive to investors seeking exposure in the uranium sector. Conversely, the bearish element stems from the retraction of earlier resource claims based on historic data. This cautious move raises questions about the comparability of Thunderball with other established uranium deposits and suggests that further work is needed before a reliable updated Mineral Resource Estimate is confirmed. Patronus Resources Limited continues to advance its exploration efforts with a clear focus on expanding the mineralised footprint in Pine Creek, underpinning a strategy that aims to unlock significant value during this transformational growth phase.