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Cosa Resources Corp. (TSXV: COSA) (OTCQB: COSAF) (FSE: SSKU), a Canadian uranium exploration company, has recently acquired the 100% owned Cosmo uranium property in the Athabasca Basin, Saskatchewan. The property covers 12 claims totaling 9,308 hectares and is strategically located near existing infrastructure, making it a promising exploration prospect. With a focus on clean energy projects, Cosa Resources aims to further strengthen its portfolio and advance its projects towards drilling.
The company's management team, including President and CEO Keith Bodnarchuk and VP of Exploration Andy Carmichael, has a proven track record of success in uranium exploration in Saskatchewan. Cosa Resources plans to conduct an initial diamond drilling program at the Ursa Project, following the completion of ground-based geophysical surveying, to evaluate the Kodiak target area and identify potential mineralization.
In addition to its drilling activities at Ursa, Cosa Resources is planning extensive Ambient Noise Tomography (ANT) surveys at Ursa and Orion to prioritize strike and refine future drill targets. The company is also conducting airborne electromagnetic (EM) and gravity surveys at the Aurora and Orbit projects to advance these properties towards drill readiness for 2025.
As part of its commitment to exploration excellence, Cosa Resources has appointed Daniel Hrabok as Senior Project Geologist. With over a decade of experience in uranium exploration, Mr. Hrabok's expertise will further enhance the company's technical capabilities and support its ongoing exploration efforts in the Athabasca Basin.
Cosa Resources Corp. (COSAF) has announced drilling plans for the Murphy Lake North uranium project in Saskatchewan's Athabasca Basin. The company plans a 1,600-metre drilling campaign starting February 2025, marking the first drilling activity on the property since 2005.
The project is a joint venture with Cosa holding 70% interest and Denison Mines holding 30%. The drilling will target the CH1 and CH2 conductive trends, with four planned holes. The property is located just 2.7 kilometers from the Hurricane Deposit, the world's highest-grade Indicated Mineral Resource for uranium.
Key targets include the interpreted strike extension of Hurricane Deposit geology and follow-up on historical uranium mineralization intersections. The depth to the unconformity varies from approximately 170 to 250 metres. The company has also granted 1,481,000 incentive stock options to directors, officers, employees and advisors, with an exercise price of $0.27 per share.
Cosa Resources Corp. (COSAF) has completed its acquisition of a 70% interest in multiple uranium projects from Denison Mines. The transaction includes three key projects in the Eastern Athabasca Basin: Murphy Lake North, Darby, and Packrat. As part of the deal, Denison becomes Cosa's largest shareholder with a 19.95% stake through the issuance of 14,195,506 shares.
The agreement includes strategic appointments with Geoff Smith joining Cosa's Board of Directors and Chad Sorba becoming Technical Advisor. Denison has committed to a minimum C$1,000,000 participation in future equity financings. Cosa will need to issue C$2,250,000 in deferred consideration shares within five years and fund specific exploration expenditures, including C$1,500,000 at Murphy Lake North by 2027 and C$5,000,000 at Darby by 2029.
The projects are strategically located near significant uranium deposits, with Murphy Lake North situated 3.2km from the Hurricane deposit, Darby 10km west of Cigar Lake Mine, and Packrat 28km east of Cigar Lake Mine. Cosa plans to commence diamond drilling at Murphy Lake North in Q1 2025.
Cosa Resources has reported uranium assay results from its fall drilling program at the 100% owned Ursa Project in Saskatchewan's Athabasca Basin. The key finding was uranium mineralization in drill hole UR24-06, which yielded 0.22% U3O8 over 0.7 metres, marking the strongest and widest intersection to date on the project. The mineralization was found between 1087.8 and 1116.8 metres, with the strongest concentration occurring between 1088.6 and 1089.3 metres in weakly graphitic and pyritic pelitic gneiss.
The company's use of Ambient Noise Tomography (ANT) surveys to prioritize conductive strike has proven successful, producing significant results in their first ANT target drill hole. With only 21 drill holes completed within the 65-kilometre-long Project, Ursa remains largely underexplored with potential for multiple tier-1 deposits.
Cosa Resources (TSXV: COSA) (OTCQB: COSAF) has announced results from airborne geophysical surveys at its 100% owned Orbit and Aurora uranium Projects in Saskatchewan's Athabasca Basin. The surveys identified multiple target areas with geophysical similarities to the Key Lake deposits and the GMZ.
The surveys covered 2,392 line-kilometres using electromagnetic and gravity systems. At Orbit, located 22km south of Key Lake Mill, three target areas were identified, with O1 being highest priority, featuring a 1.6km-long EM conductor. At Aurora, which covers 17km of the southeastern Athabasca Basin rim, three initial target areas were identified, with A1 being the highest priority.
The company plans to conduct remote sensing and ground-truthing to prioritize targets before diamond drilling. Additionally, Cosa has entered a 12-month marketing agreement with Native Ads for US$80,000.
Cosa Resources Corp (TSX-V: COSA) has received conditional approval from the TSX Venture Exchange for its planned acquisition of a 70% interest in uranium projects from Denison Mines Corp. Trading of Cosa's common shares will resume on December 2, 2024, following a halt since November 26, 2024. The transaction is expected to complete by early 2025.
Cosa Resources Corp. (COSAF) has entered into an agreement with Denison Mines to acquire a 70% interest in three uranium exploration projects in the Eastern Athabasca Basin. The projects include Murphy Lake North, Darby, and Packrat. As part of the deal, Denison will become a 19.95% shareholder of Cosa and commits to a minimum C$1,000,000 participation in future equity financings. Cosa will issue 14,195,506 common shares and C$2,250,000 in deferred consideration shares within five years. The company must fund C$1,500,000 in exploration at Murphy Lake North by 2027 and C$5,000,000 at Darby by 2029. The transaction is expected to close by early 2025.
Cosa Resources has announced significant findings from its uranium exploration at the Ursa Project in Saskatchewan's Athabasca Basin. Drill hole UR24-06 intersected multiple zones of basement-hosted radioactivity exceeding 1,000 counts per second, with a peak of 2,700 cps. The company completed three drill holes totaling 3,423 metres, with the most promising results coming from UR24-06, which showed features consistent with eastern Athabasca unconformity style uranium deposits. The drilling program validated the effectiveness of Ambient Noise Tomography (ANT) for target prioritization, and multiple additional target areas have been identified.
Cosa Resources Corp. (TSXV: COSA) (OTCQB: COSAF) has commenced diamond drilling at its 100% owned Ursa uranium Project in Saskatchewan's Athabasca Basin. The program aims to drill up to 4,000 meters, focusing on the Kodiak and Grizzly target areas. At Kodiak, drilling will follow up on promising results from the winter program, particularly drill hole UR24-03, which intersected significant alteration and anomalous uranium levels. The Grizzly area has been upgraded based on historical drill results showing strong geochemical anomalies. The company also plans to test targets identified by Ambient Noise Tomography (ANT) surveying, covering 27 kilometers of conductive trend. Cosa remains fully funded for exploration into 2025.
Cosa Resources Corp. (TSXV: COSA) (OTCQB: COSAF) has announced the mobilization of drill crews to its 100% owned Ursa uranium Project in the Athabasca Basin, Saskatchewan. The company plans up to 4,000 metres of drilling in its second diamond drilling campaign at Ursa. Key points include:
- Targeting follow-up on sandstone-hosted alteration and structure with associated anomalous uranium geochemistry
- Anticipated receipt of preliminary geophysical models across multiple projects
- Drilling expected to commence shortly and continue into October
- Results of Ambient Noise Tomography (ANT) surveys at Ursa and Orion projects expected in early September
- Geophysical interpretations from airborne VTEM and gravity surveys at Aurora and Orbit expected in coming weeks
The company aims to update stakeholders with detailed plans in the coming days and remains committed to discovering the next tier-1 uranium deposit in the Athabasca Basin.
Cosa Resources Corp. (TSXV: COSA) (OTCQB: COSAF) has completed the expansion of its Orbit uranium Property in the Athabasca Basin, Saskatchewan. The acquisition adds 6,049 hectares, doubling Orbit's footprint to 12,718 hectares. This expansion increases Cosa's control of undrilled strike length to eight kilometres, located on trend with uranium mineralization. The Orbit Project is situated 19 kilometres south of the Athabasca Basin and 22 kilometres south of the Key Lake Mill. Despite the area's historical uranium production, Orbit has seen little modern exploration. Cosa aims to complete initial drill testing at the Orbit Project in 2025.
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