Fenix Uranium Project
Thelon Basin, Nunavut, Canada
Project Overview
Thelon Basin, Nunavut, Canada
The Fenix Project comprises a total tenure package of 100km 2 within the Thelon Basin of Nunavut, Canada.
Recently acquired by Cosmos (ASX Announcement – 17/05/24), the Fenix project contains 5 previously identified boulder trains with peak values of 6% U 3 O 8 . Work both by Cosmos and previous explorers indicates that the source of these boulder trains is likely within the project area. Outcropping fracture-hosted mineralisation with a peak of 2.5% U 3 O 8 has also been identified within the project area.
The Thelon basin represents significant potential for new discoveries of high-grade
unconformity-style uranium deposits within a basin which has seen very little exploration in comparison to the more notoriously studied Athabasca basin.
Regional Geology
Surrounded by Large Uranium Deposits
Geologically, the project is situated within the Western Churchill structural province of the Canadian Shield. Basement geology comprises Paleoproterozoic metasedimentary rocks of the Amer Group.
These rocks were folded and faulted during the Hudsonian orogeny and the project area is now located on the northwestern limb of a major syncline as mapped by Young 1979.
The area was covered by a continental ice sheet during the Pleistocene, measurements of glacial striations and drumlinoid orientations indicate a broadly north-western movement of ice transport (and boulders).
Historical Exploration
Highly Prospective Targets Defined
The first geophysical surveys and on-ground prospecting recorded which encompasses the project area was completed by Westmin Resources in the late ‘70’s. These surveys located a number of syngenetic, low-grade mineralised U occurrences.
Exploration work by Westmin Resources continued through to the early 1980’s and progressed to limited diamond drilling in order to define both the local stratigraphy and identify unconformities. This drilling led to the discovery of alteration and fracture-controlled U mineralisation in the bedrock.
A lengthy hiatus in exploration activity then followed until Titan Uranium Inc. recommended activities with a programme of prospecting, radon surveys and diamond drilling through 2006 & 2007. This work resulted in the identification of a number of well-mineralised boulder trains with sources highly likely to be contained within the Fenix project area. Diamond drilling intersected additional fracture-hosted uranium and malachite mineralisation.
