Cosa Resources Announces Acquisition of Solstice Uranium Exploration Property in the Athabasca Basin Region, Saskatchewan
- Cosa Resources Corp. acquires Solstice uranium exploration property in Saskatchewan. The property covers 3km of strike length and is 100% owned, expanding the company's uranium exploration portfolio in the Athabasca Basin region.
- None.
Vancouver, British Columbia--(Newsfile Corp. - October 26, 2023) - Cosa Resources Corp. (TSXV: COSA) (OTCQB: COSAF) (FSE: SSKU) ("Cosa" or the "Company") is pleased to announce the acquisition of the
Highlights
- Solstice covers 3 kilometres of strike length along a prominent northwest-trending magnetic break, a setting which hosts several mineralized zones and deposits in the western Athabasca Basin region
- The 628-hectare project was acquired by low-cost staking and is
100% owned by Cosa with no encumbrances - Cosa's uranium exploration portfolio now comprises 161,536 hectares in the Athabasca Basin region of Saskatchewan
Keith Bodnarchuk, President and CEO of Cosa, commented: "Solstice is another example of our technical team adding quality exploration ground to our portfolio of Athabasca uranium exploration projects. We look forward to updating the market with detailed results of our recent exploration work, and as we prepare for our inaugural drill program at Ursa, we are eager to share the Cosa story with a much broader audience."
Andy Carmichael, VP of Exploration of Cosa, commented: "Solstice covers the southwest edge of a prominent, north-northwest trending magnetic high, a setting similar to those hosting the Shea Creek uranium deposits and F3 Uranium's JR Zone. Historical work has mapped an EM conductor immediately south of the Property's southern boundary and we will determine if it extends onto Solstice."
Solstice Property
The Solstice Property comprises three mineral claims totaling 628 hectares staked in October 2023. Solstice is located 14 kilometres north of the Smart Lake uranium occurrence, 24 kilometres northwest of F3 Uranium Corp.'s JR Zone, and 36 kilometres southwest of the Shea Creek uranium deposits (Figures 1 and 2). Provincial Highway 955 passes within 25 kilometres, and an existing network of winter roads extends to within 9 kilometers of the Property.
Solstice contains 3 kilometres of strike length along the southwest margin of a prominent magnetic high. An historical airborne electromagnetic (EM) survey south of Solstice mapped an EM conductor flanking the magnetic high and extending north from the Beatty River Shear Zone to within 350 metres of Solstice (Figure 2). No drilling has been completed within the Property and the depth to the unconformity is estimated to be between 400 and 450 metres.
Next Steps
Initial exploration is expected to include reconnaissance airborne surveys to determine if EM conductors are present within Solstice. Additional work will include ground-based geophysics for target refinement and diamond drilling as warranted.
Figure 1 - Cosa's Portfolio of Athabasca Basin Region Uranium Exploration Projects
To view an enhanced version of this graphic, please visit:
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Figure 2 - Solstice Property Map
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Marketing Campaign Service Agreement
The Company has entered into a service agreement with Native Ads dated October 26, 2023, pursuant to which Native Ads will provide a marketing campaign for a total retainer of up to US
About Native Ads
Native Ads Inc. is a full-service advertising agency that owns and operates a proprietary ad exchange with over 80 integrated SSPs (supply-side platforms) resulting in daily access to three to seven billion North American ad impressions.
About Cosa Resources Corp.
Cosa Resources Corp. is a Canadian mineral exploration company based in Vancouver, BC and is focused on the exploration of its uranium properties in northern Saskatchewan. The portfolio includes nine uranium exploration properties totaling over 160,000 ha across the Athabasca Basin region.
The team behind Cosa Resources has a track record of success in Saskatchewan, with several decades of combined experience in uranium exploration, discovery, and development in the province.
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 Resources. Mr. Carmichael is a Qualified Person as defined under the terms of National Instrument 43-101. This news release refers to neighboring properties in which the Company has no interest. Mineralization on those neighboring 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)
Cautionary Statements
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.
The information contained herein contains "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and "forward-looking information" within the meaning of applicable Canadian securities legislation. "Forward-looking information" includes, but is not limited to, statements with respect to the activities, events or developments that the Company expects or anticipates will or may occur in the future, including, without limitation, planned exploration activities. Generally, but not always, forward-looking information and statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or the negative connotation thereof or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved" or the negative connotation thereof. Forward-looking statements in this news release include, among others, statements relating to: the exploration, development, and production at the Company's mineral projects.
Forward‐looking statements and forward‐looking information relating to any future mineral production, liquidity, enhanced value and capital markets profile of the Company, future growth potential for the Company and its business, and future exploration plans are based on management's reasonable assumptions, estimates, expectations, analyses and opinions, which are based on management's experience and perception of trends, current conditions and expected developments, and other factors that management believes are relevant and reasonable in the circumstances, but which may prove to be incorrect. Assumptions have been made regarding, among other things, the price of uranium and other commodities; no escalation in the severity of public health crises; costs of exploration and development; the estimated costs of development of exploration projects; the Company's ability to operate in a safe and effective manner and its ability to obtain financing on reasonable terms.
These statements reflect the Company's respective current views with respect to future events and are necessarily based upon a number of other assumptions and estimates that, while considered reasonable by management, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance, or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward‐looking statements or forward-looking information and the Company has made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation: the Company's dependence on one mineral project; precious metals price volatility; risks associated with the conduct of the Company's mining activities; regulatory, consent or permitting delays; risks relating to reliance on the Company's management team and outside contractors; the Company's inability to obtain insurance to cover all risks, on a commercially reasonable basis or at all; currency fluctuations; risks regarding the failure to generate sufficient cash flow from operations; risks relating to project financing and equity issuances; risks and unknowns inherent in all mining projects; contests over title to properties, particularly title to undeveloped properties; laws and regulations governing the environment, health and safety; the ability of the communities in which the Company operates to manage and cope with the implications of public health crises; the economic and financial implications of public health crises to the Company; operating or technical difficulties in connection with mining or development activities; employee relations, labour unrest or unavailability; the Company's interactions with surrounding communities; the Company's ability to successfully integrate acquired assets; the speculative nature of exploration and development; stock market volatility; conflicts of interest among certain directors and officers; lack of liquidity for shareholders of the Company; litigation risk; the ongoing military conflict around the world; general economic factors; and the factors identified under the caption "Risk Factors" in the Company's management discussion and analysis and other public disclosure documents.
Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information or implied by forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements or information. The Company undertakes no obligation to update or reissue forward-looking information as a result of new information or events except as required by applicable securities laws.
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