Cosmos (ASX:C1X) ups stake in Thelon Basin’s Canadian uranium
June 25, 2024Cosmos Exploration has staked a full interest in two more uranium assets across a fresh and firing Thelon Basin uranium district in the Canadian territory of Nunavut.
The Angilak West and Nut Lake South projects add more than 193 square kilometres to Cosmos claims, complementing an already noteworthy 162.7km2 land position at a recently acquired Fenix asset.
Both contain multiple occurrences of the uranium-endowed mineral pitchblende in close proximity to the discoveries, giving Thelon Basin a reputation for its similarity to the super high-grade Athabasca Basin.
Thelon is similar in age, size, and geology to the Athabasca, and the Perth-based prospectors are not alone in seeing a proven yet underexplored province.
Angilak West sits along the structural extensions which control mineralisation at an Atha Energy (CVE:SASK) Angilak discovery which at 0.69 per cent triuranium octoxide ranks among the highest-grade resources found outside the Athabasca.
Nut Lake South sits close to there and to a Greenridge Exploration (CNSX:GXP) discovery at Nut Lake with historic returns to the tune of 9 feet at that same 0.69% U3O8.
Greenridge recently upped its regional stake after a detailed historic review, with the available territory now further dwindled.
“These projects complement and enhance our existing position in Thelon Basin,” Cosmos Exploration Executive Chairman Jeremy Robinson said.
“The fact they already have many uranium occurrences noted on them in this world class uranium province provides for some exciting exploration opportunities for Cosmos.
“We look forward to getting on the ground as soon as possible.”
The infrastructure currently serving local large-scale gold mines will be of service for any uranium developments that might happen, now a more likely prospect given a current trading price of over US$85 a pound.
The Geological Survey of Canada spotted up a series of prospects with visible uranium minerals in the late 1970s, and pitchblende occurrences and Angilak similarities at the Short Haired Owl, Boo, and Nut Lake South prospects will likely make for Cosmos’ first stops.
Please note the following valuable information before using this website.
Independent Research
Market Open Australia is intended to be used only for educational and informative purposes, and any information on this website should not be taken as investment advice or guidance. It is important to conduct your own research before making any investment decisions, which should be based on your own investment needs and personal circumstances. Any investment decisions based on information contained on this website should be taken in line with independent financial advice from a qualified professional or should be independently researched and verified.
