Overview of Cosmos Exploration's recent announcement

Cosmos Exploration Limited (ASX:C1X) has reported the completion of its maiden rock sampling program at the Fenix Project, with assay results from 27 rock chips returning high-grade mineralisation, including up to 0.89% Uranium (U3O8), 4.59% Copper (Cu), 332 g/t Silver (Ag), 897 ppm Cobalt (Co), and 558 ppm Lead (Pb). The results underscore the potential of the Amer Group as a significant host for uranium mineralisation in the Thelon Basin, Nunavut, Canada.

Executive commentary on the assay results and future prospects

The assay results from the recent prospecting work are highly encouraging, particularly at RAD1, where several in-situ boulders and outcrops of uranium mineralisation have been traced for at least 250 metres at surface. These results suggest significant potential to delineate uranium-copper-silver mineralisation through future drilling, with at least 250 metres of strike length and open. The strike potential at RAD1 could extend significantly, as a similar uranium-bearing quartzite boulder has been identified at RAD8, located 3.6 kilometres to the east. Further work is planned along this high priority trend between RAD1 and RAD8, which would include additional prospecting, shallow diamond drilling, and a trial IP survey across the horizon to detect unusually high concentrations of copper and lead sulphide minerals at surface and at depth that are likely associated with uranium mineralisation.

Summary of the Fenix Project's potential and future plans

The assay results from Cosmos Exploration's maiden rock sampling program at the Fenix Project have revealed high-grade uranium-copper-silver mineralisation, warranting further follow-up work. The company plans to conduct additional prospecting, shallow diamond drilling, and a trial IP survey to explore the potential delineation of uranium-copper-silver mineralisation. The project's location in the Thelon Basin, Nunavut, Canada, positions it as a significant host for uranium mineralisation, with similarities to the nearby Athabasca Basin. Cosmos Exploration aims to advance the highly prospective Thelon Basin Uranium properties, including the Fenix Project, to make world-class discoveries and contribute to the critical minerals sector.