Cosa Resources Announces Commencement of Drilling at the 100% Owned Ursa Uranium Project, Athabasca Basin, Saskatchewan
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) ha avviato la perforazione con diamante nel suo Progetto Ursa uranium, interamente posseduto, nella Fossa di Athabasca in Saskatchewan. Il programma prevede di effettuare fino a 4.000 metri di perforazioni, concentrandosi sulle aree obiettivo Kodiak e Grizzly. A Kodiak, le perforazioni seguiranno i risultati promettenti del programma invernale, in particolare il pozzo di perforazione UR24-03, che ha intercettato una significativa alterazione e livelli anomali di uranio. L'area Grizzly è stata potenziata basandosi su risultati di perforazione storici che mostrano forti anomalie geochimiche. L'azienda prevede inoltre di testare obiettivi identificati tramite il sondaggio di Tomografia Acustica Ambientale (ANT), coprendo 27 chilometri di tendenze conduttive. Cosa rimane completamente finanziata per l'esplorazione fino al 2025.
Cosa Resources Corp. (TSXV: COSA) (OTCQB: COSAF) ha comenzado la perforación de diamante en su Proyecto Uranio Ursa, de propiedad al 100%, en la Cuenca de Athabasca en Saskatchewan. El programa tiene como objetivo perforar hasta 4,000 metros, centrándose en las áreas objetivo Kodiak y Grizzly. En Kodiak, la perforación dará seguimiento a resultados prometedores del programa de invierno, particularmente el pozo de perforación UR24-03, que intersectó una alteración significativa y niveles anómalos de uranio. El área Grizzly ha sido mejorada basándose en resultados históricos de perforación que muestran fuertes anomalías geoquímicas. La empresa también planea probar objetivos identificados mediante el levantamiento de Tomografía de Ruido Ambiental (ANT), cubriendo 27 kilómetros de una tendencia conductiva. Cosa sigue totalmente financiada para la exploración hasta 2025.
Cosa Resources Corp. (TSXV: COSA) (OTCQB: COSAF)는 Saskatchewan의 Athabasca 분지에 위치한 100% 소유의 Ursa 우라늄 프로젝트에서 다이아몬드 천공을 시작했습니다. 이 프로그램은 4,000 미터까지 천공을 목표로 하고 있으며, Kodiak 및 Grizzly 목표 지역에 집중하고 있습니다. Kodiak에서는 겨울 프로그램의 유망한 결과를 바탕으로 천공 구멍 UR24-03에 대해 후속 천공을 진행할 예정이며, 해당 구멍은 Significant alteration and anomalous uranium levels를 intersected했습니다. Grizzly 지역은 강력한 geochemical anomalies를 보여주는 역사적인 천공 결과를 바탕으로 업그레이드되었습니다. 이 회사는 또한 27킬로미터에 걸쳐 전도성이 있는 경향을 커버하는 동적 소음 탐사 (ANT) 조사로 식별된 목표를 테스트할 계획입니다. Cosa는 2025년까지 탐사에 대해 완전히 자금 지원을 받고 있습니다.
Cosa Resources Corp. (TSXV: COSA) (OTCQB: COSAF) a commencé le forage diamant dans son Projet Uranium Ursa, entièrement détenu, dans le bassin d'Athabasca en Saskatchewan. Le programme vise à forer jusqu'à 4 000 mètres, en se concentrant sur les zones cibles Kodiak et Grizzly. À Kodiak, le forage suivra des résultats prometteurs du programme d'hiver, en particulier le trou de forage UR24-03, qui a intercepté une altération significative et des niveaux d'uranium anormaux. La zone Grizzly a été améliorée sur la base de résultats de forage historiques montrant de fortes anomalies géochimiques. L'entreprise prévoit également de tester des cibles identifiées par des enquêtes de Tomographie de Bruit Ambiant (ANT), couvrant 27 kilomètres de tendance conductrice. Cosa reste totalement financée pour l'exploration jusqu'en 2025.
Cosa Resources Corp. (TSXV: COSA) (OTCQB: COSAF) hat mit der Diamantbohrung in ihrem zu 100 % im eigenen Besitz befindlichen Ursa Uranprojekt im Athabasca-Becken in Saskatchewan begonnen. Das Programm zielt darauf ab, bis zu 4.000 Meter zu bohren, wobei der Fokus auf den Zielgebieten Kodiak und Grizzly liegt. In Kodiak wird die Bohrung auf vielversprechende Ergebnisse aus dem Winterprogramm, insbesondere auf Bohrloch UR24-03, das signifikante Veränderungen und anomale Uranwerte aufwies, aufbauen. Das Grizzly-Gebiet wurde aufgrund historischer Bohrergebnisse, die starke geochemische Anomalien zeigen, aufgewertet. Das Unternehmen plant auch, Ziele zu testen, die durch Ambient Noise Tomography (ANT) - Untersuchungen identifiziert wurden und 27 Kilometer einer leitfähigen Tendenz abdecken. Cosa bleibt vollständig für die Erkundung bis 2025 finanziert.
- Commencement of up to 4,000 meters of diamond drilling at the Ursa uranium Project
- Follow-up on promising results from winter drilling at Kodiak target area
- Upgraded Grizzly target area based on historical drill results
- Completion of ANT survey covering 27 kilometers of conductive trend
- Company fully funded for exploration into 2025
- None.
Vancouver, British Columbia--(Newsfile Corp. - September 4, 2024) - Cosa Resources Corp. (TSXV: COSA) (OTCQB: COSAF) (FSE: SSKU) ("Cosa" or the "Company") is pleased to announce that diamond drilling has commenced at the Company's
Highlights
Drilling at the Kodiak target area will follow-up a significant zone of sandstone alteration and structure with geochemical enrichment intersected by 2024 drill hole UR24-03
Drilling at the Grizzly target area will evaluate the down-dip extension of strongly anomalous uranium geochemistry with structure and alteration intersected in multiple historical drill holes
Optimal targets remain untested at both Kodiak and Grizzly
Keith Bodnarchuk, President and CEO, commented: "With drilling now underway, we are very excited by the strength of this program's targets. Over the past 12 months the team has progressed Ursa from a high upside and severely underexplored project to one that has been strategically advanced by modern geophysics and is ready for more focused drill testing. Our efforts have produced 10 key target areas including the first follow-up drill targets at Kodiak and Grizzly. We have moved forward from reconnaissance-stage exploration to focusing in on areas displaying key components associated with uranium discoveries. Identifying multiple geologically derived drill targets early in Cosa's exploration tenure at Ursa is a major testament to the hard work and dedication put forth by the technical team and to the prospectivity of the Ursa Project overall. We will have steady news flow for the remainder of 2024 and remain fully funded to complete our exploration plans into 2025."
Andy Carmichael, Vice President Exploration, commented: "We have been eager to resume drilling at Ursa since the promising results at Kodiak from our initial drilling campaign this past winter. Since then, the team has been busy interpreting that program's geochemical results, completing ANT surveys at Ursa and Orion, and continuing to analyze historical work on the Project. These efforts have confirmed the prospectivity of the Kodiak area and upgraded the Grizzly area where historical drilling produced some of the most compelling sandstone geochemistry on the Project. We expect initial ANT results will assist in prioritization of targets along the 27 kilometres of conductive strike length covered by the survey and to help guide follow-up of our winter drill results at Kodiak."
Diamond Drilling Objectives
Up to 4,000 metres of diamond drilling is planned at Ursa over the coming weeks. The objectives of the program are to follow-up the results of winter drilling at the Kodiak target area, follow-up on compelling geochemistry identified in historical drilling, and complete an initial test of Ambient Noise Tomography (ANT) derived target areas (Figure 1).
At Kodiak, drilling will follow-up on the broad zone of pervasive alteration coincident with faulting and dravitic breccias intersected by UR24-03, the final drill hole of the winter program. Geochemistry from the winter program determined that the sandstone in UR24-03 contains anomalous levels of uranium and uranium pathfinder elements, further upgrading the area and confirming its status as a priority follow-up target for the summer drilling program (Figures 1 and 2). Significantly, UR24-03 contains the highest average uranium content in the basal 40 metres of sandstone of any drill hole completed on the Project to date.
At Grizzly, continued interpretation of winter electromagnetic survey data and historical drilling results has upgraded the target area (Figures 1 and 3). Historical drill hole CR-06 (1996) intersected a 100-metre interval of highly anomalous geochemistry associated with hydrothermal alteration and faulting in the sandstone well above the unconformity. Drill hole CR-15 (2002) was completed to follow-up CR-06 and intersected significant alteration, structure and multiple zones of strongly anomalous geochemistry in the sandstone. CR-15 is interpreted to have overshot the optimal target by up to 100 metres. Although compelling, these results were not followed-up as CR-15 was the final hole completed prior to Cosa acquiring the Project grounds in 2022.
Depending on the results of initial drilling at the Kodiak and the Grizzly target areas, Cosa plans to test at least one target area identified from Ambient Noise Tomography (ANT) surveying. The ANT survey, completed in May and June, covered 27 kilometres of the conductive trend extending northeast and southwest from the Kodiak target area which hosts all historical intersections of weak uranium mineralization on the Property (Figure 1). ANT uses naturally occurring seismic activity to produce a three-dimensional model of seismic velocity in the subsurface which Cosa believes has strong potential to highlight large zones of alteration and structure in the sandstone commonly associated with uranium deposits within the Athabasca Basin. Initial results and models from the ANT survey are due in September.
Figure 1 - Ursa Target Areas Defined over Basement Conductivity Model (100 metres Below the Unconformity)
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Figure 2 - Cross Section of Winter 2024 Drilling Results from Kodiak, Looking Northeast
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Figure 3 - Cross Section of Grizzly Target Area showing Historical Drill Holes CR-06 and CR-15
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Keith Bodnarchuk, President and CEO, alongside Andy Carmichael, VP of Exploration, discuss Cosa's exploration achievements thus far, significant results of winter drilling and summer drilling objectives, and the Company's forthcoming plans.
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About Cosa Resources Corp.
Cosa Resources is a Canadian uranium exploration company operating in northern Saskatchewan. The portfolio comprises roughly 216,000 ha across multiple projects in the Athabasca Basin region, all of which are underexplored, and the majority reside within or adjacent to established uranium corridors.
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 Mines' Gryphon deposit and 92 Energy's Gemini Zone and held key roles in the founding of both NexGen and IsoEnergy.
Cosa's primary focus through 2024 is initial drilling at our Ursa Project, which captures over 60-kilometres of strike length of the Cable Bay Shear Zone, a regional structural corridor with known mineralization and limited historical drilling. It potentially represents the last remaining eastern Athabasca corridor to not yet yield a major discovery. Modern geophysics completed by Cosa in 2023 identified multiple high-priority target areas characterized by conductive basement stratigraphy beneath or adjacent to broad zones of inferred sandstone alteration - a setting that is typical of most eastern Athabasca uranium deposits. Initial drilling results from Ursa in winter 2024 are positive and include the intersection of a broad zone of alteration with associated structure in the Athabasca sandstone located 250 to 460 metres above the sub-Athabasca unconformity. Follow-up is planned in the second half of 2024.
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.
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.
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. Forward-looking statements in this press release include but are not limited to statements regarding, the Company's exploration and development plans. Although the Company believes any forward-looking statements in this press release are reasonable, it can give no assurance that the expectations and assumptions in such statements will prove to be correct. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, changes in the state of equity and debt markets, fluctuations in commodity prices, delays in obtaining required regulatory or governmental approvals, and other risks involved in the mineral exploration and development industry, including those risks set out in the Company's management's discussion and analysis as filed under the Company's profile at www.sedarplus.ca. Forward-looking information in this news release is based on the opinions and assumptions of management considered reasonable as of the date hereof, including the price of uranium and other commodities; 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. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information. The Company disclaims any intention or obligation to update or revise any forward-looking information, other than as required by applicable securities laws.
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FAQ
What is the main focus of Cosa Resources' current drilling program at the Ursa Project?
How many meters of diamond drilling does Cosa Resources plan to complete at the Ursa Project?
What significant results were found in drill hole UR24-03 at the Kodiak target area?
When are the initial results from the ANT survey at the Ursa Project expected?
How long is Cosa Resources (COSAF) funded for its exploration plans?
