Cosa Commences Core Drilling at the Murphy Lake North Uranium Project, Athabasca Basin, Saskatchewan
Cosa Resources Corp. (COSAF) has initiated core drilling at the Murphy Lake North (MLN) Uranium Project in Saskatchewan's eastern Athabasca Basin. The project is a joint venture with Denison Mines, where Cosa holds a 70% interest and serves as the operator. This marks the first drilling campaign at MLN since 2005, targeting areas near the Hurricane deposit.
The drilling program focuses on two main objectives: exploring the interpreted extension of the Hurricane deposit basement geology and evaluating a parallel trend with historical uranium mineralization intersections. The project's location is strategic, being just 2.7 kilometers east of the Hurricane deposit, which is recognized as the world's highest-grade Indicated Uranium Resource.
MLN features approximately six kilometers of conductive strike length, with unconformity depths ranging from 170 to 250 metres. Cosa is solely funding this drill program as part of its commitment to fund $1.5 million in exploration expenditures by December 31st, 2027.
Cosa Resources Corp. (COSAF) ha avviato il perforamento del nucleo presso il progetto Uranio Murphy Lake North (MLN) nella parte orientale del bacino di Athabasca in Saskatchewan. Il progetto è una joint venture con Denison Mines, in cui Cosa detiene una partecipazione del 70% e funge da operatore. Questa è la prima campagna di perforazione presso MLN dal 2005, che mira ad aree vicino al deposito Hurricane.
Il programma di perforazione si concentra su due obiettivi principali: esplorare l'estensione interpretata della geologia del basamento del deposito Hurricane e valutare una tendenza parallela con le intersezioni storiche di mineralizzazione dell'uranio. La posizione del progetto è strategica, essendo situata a soli 2,7 chilometri a est del deposito Hurricane, riconosciuto come la risorsa di uranio indicata di più alta qualità al mondo.
Il MLN presenta circa sei chilometri di lunghezza di strike conduttivo, con profondità di incongruenza che variano da 170 a 250 metri. Cosa sta finanziando esclusivamente questo programma di perforazione come parte del suo impegno a finanziare 1,5 milioni di dollari in spese di esplorazione entro il 31 dicembre 2027.
Cosa Resources Corp. (COSAF) ha iniciado la perforación de núcleos en el Proyecto de Uranio Murphy Lake North (MLN) en la parte oriental de la Cuenca de Athabasca en Saskatchewan. El proyecto es una empresa conjunta con Denison Mines, donde Cosa posee un 70% de participación y actúa como operador. Esta es la primera campaña de perforación en MLN desde 2005, enfocándose en áreas cercanas al depósito Hurricane.
El programa de perforación se centra en dos objetivos principales: explorar la extensión interpretada de la geología del basamento del depósito Hurricane y evaluar una tendencia paralela con intersecciones históricas de mineralización de uranio. La ubicación del proyecto es estratégica, a solo 2.7 kilómetros al este del depósito Hurricane, que se reconoce como el recurso de uranio indicado de mayor grado en el mundo.
MLN presenta aproximadamente seis kilómetros de longitud de strike conductivo, con profundidades de incongruencia que varían de 170 a 250 metros. Cosa está financiando exclusivamente este programa de perforación como parte de su compromiso de financiar 1.5 millones de dólares en gastos de exploración antes del 31 de diciembre de 2027.
Cosa Resources Corp. (COSAF)는 사스카체완 동부 아타바스카 분지에 있는 머피 레이크 노스(MLN) 우라늄 프로젝트에서 코어 드릴링을 시작했습니다. 이 프로젝트는 Denison Mines와의 공동 투자로, Cosa는 70%의 지분을 보유하고 있으며 운영자로 활동하고 있습니다. 이는 2005년 이후 MLN에서의 첫 번째 드릴링 캠페인으로, 허리케인 매장지 인근 지역을 목표로 하고 있습니다.
드릴링 프로그램은 두 가지 주요 목표에 집중하고 있습니다: 허리케인 매장지의 기반 지질학의 해석된 연장을 탐색하고, 역사적인 우라늄 광물화 교차점과 평행한 경향을 평가하는 것입니다. 프로젝트의 위치는 전략적으로, 허리케인 매장지에서 동쪽으로 2.7킬로미터 떨어진 곳에 위치하고 있으며, 이는 세계에서 가장 높은 등급의 우라늄 자원으로 인정받고 있습니다.
MLN은 약 6킬로미터의 전도성 스트라이크 길이를 가지고 있으며, 불일치 깊이는 170에서 250미터 사이입니다. Cosa는 2027년 12월 31일까지 150만 달러의 탐사 비용을 지원하기로 한 약속의 일환으로 이 드릴 프로그램을 전적으로 자금 지원하고 있습니다.
Cosa Resources Corp. (COSAF) a lancé le forage de carottes au projet d'uranium Murphy Lake North (MLN) dans le bassin d'Athabasca à l'est de la Saskatchewan. Le projet est un partenariat avec Denison Mines, où Cosa détient une participation de 70 % et agit en tant qu'opérateur. C'est la première campagne de forage à MLN depuis 2005, visant des zones près du dépôt Hurricane.
Le programme de forage se concentre sur deux objectifs principaux : explorer l'extension interprétée de la géologie du socle du dépôt Hurricane et évaluer une tendance parallèle avec des intersections historiques de minéralisation d'uranium. L'emplacement du projet est stratégique, étant situé à seulement 2,7 kilomètres à l'est du dépôt Hurricane, reconnu comme la ressource d'uranium indiquée de la plus haute qualité au monde.
Le MLN présente environ six kilomètres de longueur de strike conductif, avec des profondeurs d'incongruence allant de 170 à 250 mètres. Cosa finance exclusivement ce programme de forage dans le cadre de son engagement à financer 1,5 million de dollars en dépenses d'exploration d'ici le 31 décembre 2027.
Cosa Resources Corp. (COSAF) hat mit der Kernbohrung im Uranprojekt Murphy Lake North (MLN) im östlichen Athabasca-Becken in Saskatchewan begonnen. Das Projekt ist ein Joint Venture mit Denison Mines, wobei Cosa 70% der Anteile hält und als Betreiber fungiert. Dies markiert die erste Bohrkampagne im MLN seit 2005, die sich auf Gebiete in der Nähe des Hurricane-Lagers konzentriert.
Das Bohrprogramm konzentriert sich auf zwei Hauptziele: die Erkundung der interpretierten Ausdehnung der Basement-Geologie des Hurricane-Lagers und die Bewertung eines parallelen Trends mit historischen Uranmineralisierungs-Schnitten. Der Standort des Projekts ist strategisch, da er nur 2,7 Kilometer östlich des Hurricane-Lagers liegt, das als die weltweit hochwertigste angegebene Uranressource anerkannt ist.
MLN verfügt über etwa sechs Kilometer leitfähige Strike-Länge, mit Unstimmigkeitstiefen von 170 bis 250 Metern. Cosa finanziert dieses Bohrprogramm vollständig als Teil ihres Engagements, bis zum 31. Dezember 2027 1,5 Millionen Dollar für Erkundungsausgaben bereitzustellen.
- Strategic location 2.7km from Hurricane deposit, world's highest-grade Indicated Uranium Resource
- Shallow target depth (170-250m) potentially reducing exploration costs
- 70% controlling interest in the joint venture
- Six kilometers of conductive strike length for exploration
- No drilling activity in the area since 2005, indicating potential exploration risks
- Historical drilling only showed weak uranium mineralization
- Required to fund 100% of first $1.5M in exploration costs through 2027
Vancouver, British Columbia--(Newsfile Corp. - February 13, 2025) - Cosa Resources Corp. (TSXV: COSA) (OTCQB: COSAF) (FSE: SSKU) ("Cosa" or the "Company") is pleased to report core drilling has commenced at the Murphy Lake North Uranium Project. Murphy Lake North ("MLN" or the "Property") is a joint venture (the "Joint Venture") between Cosa and Denison Mines Corp. ("Denison") (TSX: DML) (NYSE American: DNN) and is located in the eastern Athabasca Basin, Saskatchewan. Cosa is the project operator and holds a
Highlights
The first drilling campaign within the Project since 2005, thirteen years before the discovery of the nearby Hurricane deposit
Initial drilling will follow up the interpreted extension of the Hurricane deposit basement geology within MLN
Additional drilling will evaluate a parallel trend hosting historical intersections of uranium mineralization
Andy Carmichael, Cosa VP Exploration, commented: "Located just three kilometres from the Hurricane deposit, Murphy Lake North is interpreted to host the along-strike extension of the basement geology controlling Hurricane. Our team is very familiar with the geology in the area, and we are thrilled to be drilling this highly underexplored section of the very fertile and reinvigorated Larocque Lake Trend. In addition to the Hurricane trend, Murphy Lake North hosts a parallel trend to the south where weak mineralization intersected in 2002 warrants additional follow up. With multiple historical intersections of weak mineralization, ample exploration space, and ideal basement geology, the Project's high degree of prospectivity is complemented by its shallow target depth as the unconformity is less than 250 metres below surface."
Murphy Lake North
Murphy Lake North covers a portion of the Larocque Lake trend and is located 2.7 kilometres east of the Hurricane deposit (Figures 1 & 2). Hurricane is the world's highest-grade Indicated Uranium Resource and was discovered and delineated for IsoEnergy Ltd. by current members of Cosa's management, board of directors, and advisors from 2018 through 2022. The Larocque Lake trend also hosts the Larocque Lake Zone, the Yelka Prospect, and the Alligator Lake Zone.
Murphy Lake North also contains approximately six kilometres of conductive strike length oriented sub-parallel to conductive features associated with the Hurricane deposit (Figure 2). Limited historical drilling completed on Murphy Lake North intersected weak uranium mineralization in the basement and zones of alteration and structure in the sandstone and basement. Historical drilling, completed before the discovery of Hurricane, focused on the western extremity of the Property and left most of the conductive strike length untested. Abundant drill targets exist at Murphy Lake North. The depth to the unconformity at Murphy Lake North varies from approximately 170 to 250 metres.
On January 20, 2025, Cosa announced its initial drilling plans for Murphy Lake North, which are expected to be completed in the next few weeks (Figure 2). Per the completed Acquisition Agreement between Cosa and Denison (see Cosa's news release dated January 14, 2025), Cosa is sole funding this Murphy Lake North drill program as part of the Company's obligation to fund
Figure 1 - Cosa's Eastern Athabasca Uranium Projects with Joint Venture Projects
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Figure 2 - Nearby Historical Drilling Results and Planned Winter 2025 Target Areas
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About Cosa Resources Corp.
Cosa Resources is a Canadian uranium exploration company operating in northern Saskatchewan. The portfolio comprises roughly 237,000 ha across multiple
In January of 2025, the Company entered a transformative strategic collaboration with Denison Mines that has secured Cosa access into several additional highly prospective eastern Athabasca uranium exploration projects. As Cosa's largest shareholder, Denison gains exposure to Cosa's potential for exploration success and its pipeline of uranium projects.
Cosa's award-winning management team has a long track record of success in Saskatchewan. In 2022, members of the Cosa team were awarded the AME Colin Spence Award for their previous involvement in discovering IsoEnergy's Hurricane deposit. Prior to Hurricane, Cosa personnel led teams or had integral roles in the discovery of Denison's Gryphon deposit and 92 Energy's GMZ zone and held key roles in the founding of both NexGen and IsoEnergy.
Cosa's primary focus through 2024 was initial drilling at the
Technical Disclosure
Historical drilling and geophysical results for Murphy Lake North and adjacent projects were sourced from the Saskatchewan Mineral Assessment Database (SMAD). SMAD sources for the Murphy Lake North Project include file numbers 74I-0060, 74I09-0057, 74I09-0064, 74I09-0066, 74I09-0077, 74I09-0098, and MAW00510.
SMAD sources for drilling and geophysical results proximal to Murphy Lake North include 64L05-0161, 64L05-0180, 74I-0066, 74I-0067, 74I01-0114, 74I08-0056, 74I09-0053, 74I09-0061, 74I09-0064, 74I09-0071, 74I09-0079, 74I09-0087, 74I09-0088, 74I09-0090, 74I09-0091, 74I09-0092, MAW01939, MAW02327, MAW02599, and MAW02395.
Drill hole collar locations for Murphy Lake North and relevant along-strike drill holes were verified from air photos. The collar locations of Murphy Lake North drill holes CRK-144 and CRK-145 were verified on the ground using a handheld GPS and determined to be within 20 metres of the locations derived from air photos. Segments of drill core from CRK-143 and CRK-144 were reviewed in the field; further review was hampered by the deteriorated condition of core boxes.
Verification of historical geophysical results included confirming the locations of geophysical survey grids from air photos, compiling results of geophysical surveys completed post year 2000, and evaluating whether interpreted geophysical results could be reasonably explained by historical drilling results.
Qualified Person
The Company's disclosure of technical or scientific information in this press release has been reviewed and approved by Andy Carmichael, P.Geo., Vice President, Exploration for Cosa. Mr. Carmichael is a Qualified Person as defined under the terms of National Instrument 43-101. This news release refers to neighbouring properties in which the Company has no interest. Mineralization on those neighbouring properties does not necessarily indicate mineralization on the Company's properties.
Contact
Keith Bodnarchuk, President and CEO
info@cosaresources.ca
+1 888-899-2672 (COSA)
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Statements
This press release contains forward-looking information within the meaning of Canadian securities laws (collectively "forward-looking statements"). Forward-Looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, plans, postulate and similar expressions, or are those, which, by their nature, refer to future events. All statements that are not statements of historical fact are forward-looking statements. These forward-looking statement or information may relate to anticipated exploration, development and/or expansion activities, including exploration of the Company's current Projects; the collaboration with Denison, including the Joint Venture, and the anticipated benefits thereof; and the outlook regarding Cosa's business plans and objectives.
Such forward-looking information and statements are based on numerous assumptions, including among others, that the results of planned exploration activities are as anticipated, the cost of planned exploration activities are as anticipated, that general business and economic conditions will not change in a material adverse manner, that financing will be available if and when needed and on reasonable terms, that third party contractors, equipment and supplies and governmental and other approvals required to conduct Cosa's planned exploration activities will be available on reasonable terms and in a timely manner. Although the assumptions made by Cosa in providing forward-looking information or making forward-looking statements are considered reasonable by management at the time, there can be no assurance that such assumptions will prove to be accurate.
By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors and risks include, among others: Cosa may require additional financing from time to time in order to continue its operations which may not be available when needed or on acceptable terms and conditions acceptable; Cosa may not be able to maintain compliance with its contractual obligations with third parties; Cosa may not be able to maintain compliance with extensive government regulation applicable to its operations; domestic and foreign laws and regulations could adversely affect Cosa's business and results of operations; the stock markets have experienced volatility that often has been unrelated to the performance of companies and these fluctuations may adversely affect the price of Cosa's securities, regardless of its operating performance; the ongoing military conflict in Ukraine, and other risk factors set out in Cosa's public disclosure documents.
The forward-looking information contained in this news release represents the expectations of Cosa as of the date of this news release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. Cosa does not undertake any obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
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FAQ
What is the ownership structure of the Murphy Lake North uranium project between Cosa (COSAF) and Denison?
How deep is the uranium target at Murphy Lake North for COSAF's 2025 drilling program?
What is the significance of the Hurricane deposit to COSAF's Murphy Lake North project?
What are COSAF's financial commitments for the Murphy Lake North exploration program?
When was the last drilling campaign conducted at Murphy Lake North before COSAF's 2025 program?
