Australia-headquartered Cosmos Exploration has secured two additional prospective uranium projects, Angilak West and Nut Lake South, located in the emerging uranium mining district of the Thelon basin, Nunavut, Canada.
The projects have been secured through direct staking.
“These projects complement and enhance our existing position in Thelon basin, 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,” commented executive chairperson Jeremy Robinson.
The critical minerals company last month announced its move into uranium with the acquisition of an 80% interest in the Fenix project, in the Thelon basin.
Cosmos’ Angilak West project is located 30 km west of Atha Energy’s Angilak deposit. The Angilak deposit is the second largest uranium deposit in the Thelon district, containing 43.3-million pounds of uranium oxide (U3O8) at 0.69%.
Cosmos has staked highly prospective ground to the west of Angilak along the same key mineralising northwest cross structures, containing several significant geological parameters U3O8 held by Atha.
Cosmos’ Nut Lake South project is situated 3 km to the south of CSE-listed Greenridge Exploration’s Nut Lake uranium discovery. The Nut Lake project is centred around the 1979 discovery made by Pan Ocean Oil.
Recognising the high prospectivity of the area for uranium, Cosmos has acquired two parcels of land to the south of Nut Lake containing key mineralising northwest-trending structures analogous to those identified at Angilak which extend into Greenridge’s Nut Lake project.
Cosmos believes that the structures surrounding the Yathkyed and Angikuni sub-basins of the Thelon district are highly prospective for unconformity-related uranium deposits, similar to those found on the Athabasca basin in Saskatchewan.
Other companies that have also had significant recent success in the region include Forum Energy with the recent discovery intersection of 3.25% U3O8 over 7.6 m at Tatiggaq, including 13.8% U3O8 over 1.2 m.