Cosa Resources – Acquisition of 2 Mineral Concessions Doubles The Size Of Its 100% Owned Orbit Uranium Project And Summer Drilling To Start In August At the Ursa Project
Keith Bodnarchuk, President and CEO of Cosa Resources Corp. (TSX-V: COSA) (OTCQB: COSAF), joins me to review the news today where they have picked up 2 more land concessions expanding the size of their Orbit Uranium Project in the Athabasca Basin region of Saskatchewan. We also discuss the drilling program that is about to start in mid-August at their Ursa Uranium Project.
With regards to the 2 new mineral claims, Cosa Resources purchased these in a transaction with Skyharbour Resources (TSX-V: SYH) (OTCQX: SYHBF) for 250,000 common shares of the Company. This essentially doubles their footprint at the Orbit Uranium Project from 6,049 hectares to 12,718 hectares, and 8kms of untested strike length with prospective geology for new uranium discoveries. Keith points out that this Orbit project is very near their Aurora Projects, and it is within 25 kilometers of the Key Lake Uranium Mill and the former Key Lake Uranium Mine. Their exploration team has the thesis that this area has been largely overlooked by modern exploration despite having shallow target areas with no sandstone cover. He points out that this transaction fits in with their larger strategy at Cosa Resources to continue to identify and pursue cost-effective opportunities to add to their pipeline of exciting projects and drill targets. There will be airborne survey results at both Aurora and Orbit released to the market later this year, as they vector in on drill targets for the 2025 season.
Then we pivot over to discuss that the upcoming 2024 drilling will kick off in August, in just a couple weeks at their Ursa Project. This summer program will be following up on Drill hole UR24 -03 from the winter drill program, that intersected structure, alteration, and minor sulphide mineralization several hundred meters above the unconformity. The Ursa Project 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. The Company remains fully funded to complete all of their exploration plans into 2025.
If you have any questions for Keith regarding Cosa Resources, then please email them in to me at Shad@kereport.com.
- In full disclosure, Shad is a shareholder of Cosa Resources at the time of this recording.
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