Cosa Commences 3,000 Metre Summer Drilling Program at the Murphy Lake North Uranium Project
Cosa Resources (OTCQB: COSAF) has initiated a 3,000-metre summer drilling program at the Murphy Lake North Uranium Project in Saskatchewan's eastern Athabasca Basin. The project is a joint venture with Denison Mines, where Cosa holds a 70% interest and operates the project, while Denison maintains a 30% stake.
The drilling program, the largest to date for the project, will include up to eight drill holes targeting the Hurricane and Cyclone trends. The program follows up on significant sandstone alteration discovered during winter drilling at the Hurricane trend. The project is strategically located 2.7 kilometers east of the Hurricane deposit, which is notably the world's highest-grade Indicated Uranium Resource.
Cosa Resources (OTCQB: COSAF) ha avviato un programma di perforazione estivo di 3.000 metri presso il progetto Murphy Lake North Uranium nella parte orientale del bacino di Athabasca, Saskatchewan. Il progetto è una joint venture con Denison Mines, dove Cosa detiene una partecipazione del 70% e gestisce l'operazione, mentre Denison possiede il 30%.
Il programma di perforazione, il più ampio finora realizzato per questo progetto, prevede fino a otto fori di sondaggio mirati alle tendenze Hurricane e Cyclone. Questa iniziativa segue la scoperta di significative alterazioni della arenaria emerse durante le perforazioni invernali nella tendenza Hurricane. Il progetto si trova strategicamente a 2,7 chilometri a est del deposito Hurricane, che rappresenta la risorsa di uranio indicata con la più alta concentrazione al mondo.
Cosa Resources (OTCQB: COSAF) ha iniciado un programa de perforación de verano de 3,000 metros en el Proyecto de Uranio Murphy Lake North, ubicado en la cuenca este de Athabasca en Saskatchewan. El proyecto es una empresa conjunta con Denison Mines, donde Cosa posee un 70% de participación y opera el proyecto, mientras que Denison mantiene un 30%.
El programa de perforación, el más grande hasta la fecha para el proyecto, incluirá hasta ocho perforaciones dirigidas a las tendencias Hurricane y Cyclone. Este programa da seguimiento a la significativa alteración de arenisca descubierta durante la perforación invernal en la tendencia Hurricane. El proyecto está estratégicamente ubicado a 2,7 kilómetros al este del depósito Hurricane, que es la mayor reserva de uranio indicada de alta ley en el mundo.
Cosa Resources (OTCQB: COSAF)는 사스카치완 동부 아타바스카 분지에 위치한 머피 레이크 노스 우라늄 프로젝트에서 3,000미터 규모의 여름 시추 프로그램을 시작했습니다. 이 프로젝트는 Denison Mines와의 합작 투자로, Cosa가 70% 지분을 보유하며 운영을 담당하고, Denison은 30% 지분을 유지하고 있습니다.
이번 시추 프로그램은 프로젝트 사상 최대 규모로, 허리케인(Hurricane) 및 사이클론(Cyclone) 지역을 대상으로 최대 여덟 개의 시추공을 포함합니다. 이 프로그램은 겨울 시추 중 허리케인 지역에서 발견된 중요한 사암 변질 현상을 바탕으로 진행됩니다. 프로젝트는 세계 최고 등급의 표시 우라늄 자원인 허리케인 매장지에서 동쪽으로 2.7킬로미터 떨어진 전략적 위치에 있습니다.
Cosa Resources (OTCQB : COSAF) a lancé un programme de forage estival de 3 000 mètres sur le projet d'uranium Murphy Lake North, situé dans la partie est du bassin d'Athabasca en Saskatchewan. Le projet est une coentreprise avec Denison Mines, où Cosa détient une participation de 70 % et en assure l'exploitation, tandis que Denison détient 30 %.
Ce programme de forage, le plus important à ce jour pour le projet, comprendra jusqu'à huit trous de forage ciblant les tendances Hurricane et Cyclone. Il fait suite à la découverte d'altérations significatives du grès lors des forages hivernaux sur la tendance Hurricane. Le projet est stratégiquement situé à 2,7 kilomètres à l'est du gisement Hurricane, qui est la ressource d'uranium indiquée la plus riche au monde.
Cosa Resources (OTCQB: COSAF) hat ein 3.000 Meter umfassendes Sommer-Bohrprogramm beim Murphy Lake North Uranium Projekt im östlichen Athabasca-Becken in Saskatchewan gestartet. Das Projekt ist ein Joint Venture mit Denison Mines, wobei Cosa 70 % der Anteile hält und das Projekt betreibt, während Denison 30 % besitzt.
Das Bohrprogramm, das bislang größte für dieses Projekt, umfasst bis zu acht Bohrlöcher, die auf die Hurricane- und Cyclone-Trends abzielen. Das Programm folgt auf bedeutende Sandsteinveränderungen, die während der Winterbohrungen im Hurricane-Trend entdeckt wurden. Das Projekt befindet sich strategisch 2,7 Kilometer östlich der Hurricane-Lagerstätte, die weltweit die Uran-Ressource mit dem höchsten Indikationsgrad darstellt.
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Vancouver, British Columbia--(Newsfile Corp. - June 25, 2025) - Cosa Resources Corp. (TSXV: COSA) (OTCQB: COSAF) (FSE: SSKU) ("Cosa" or the "Company") is pleased to report commencement of a 3,000-metre summer drilling program targeting the Hurricane and Cyclone trends on the Murphy Lake North Project ("MLN" or the "Project"). MLN 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
- Denison, Cosa's Joint Venture partner and largest shareholder, has indicated it will fund its portion to retain a
30% interest in the Murphy Lake North Joint Venture - Largest drill program to date on the Project with a planned 3,000m in up to eight drill holes
- Drilling is planned to follow up significant sandstone alteration intersected by winter drilling at the Hurricane trend and to complete reconnaissance testing of the parallel Cyclone trend
Keith Bodnarchuk, President and CEO of Cosa, commented: "This is the most exciting time of the year for Cosa as drilling has officially begun. Thanks to our VP Exploration, Andy Carmichael, and the rest of our technical team and contractors for ensuring a safe and timely start to this summer drilling program. We are eager to continue testing promising targets at the Hurricane and Cyclone trends following the encouraging results of our inaugural winter program earlier this year. With positive sentiment returning to the uranium sector and the continued support of our Joint Venture partner and largest shareholder, Denison, we are well-positioned to advance the Murphy Lake North Project toward its full potential."
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 high-grade Larocque Lake Zone, Yelka Prospect, and Alligator Lake Zone.
Initial drilling in winter 2025 confirmed that up to two kilometres of Hurricane trend basement geology is present within the Project (See Cosa news release dated March 20, 2025). While testing the southern portion of the Hurricane trend, the fourth and final drill hole of the program intersected a broad zone of alteration and structure in the lower sandstone that is open along strike in both directions.
Per the completed Acquisition Agreement between Cosa and Denison (see Cosa's news release dated January 14, 2025), Cosa expects to meet its obligation to sole-fund C
For details of Cosa's planned drill program and target areas, see the Company's news release dated 17 June 2025.
Figure 1 - Cosa's Eastern Athabasca Uranium Projects with Joint Venture Projects
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Figure 2 - Murphy Lake North Drilling Results and Conductive Trends
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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 underexplored
In January of 2025, the Company entered a transformative strategic collaboration with Denison 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.
The Company's core focus throughout 2025 is drilling at the Murphy Lake North Joint Venture. Murphy Lake North is a 70/30 Joint Venture between Cosa and Denison respectively and is located at the northern end of the Larocque Lake trend. The Project is within three kilometres of and on trend with the Hurricane deposit. Initial drilling completed by Cosa during winter 2025 intersected broad zones of hydrothermal alteration of the sandstone, associated with prospective basement structures interpreted as the strike extension of those controlling the Hurricane deposit. An expanded follow up campaign is currently in planning for the summer season.
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. Data and reports related to the 2020 ground EM survey completed by Denison are not presently available via SMAD and were supplied to Cosa by Denison.
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 data from geophysical surveys completed post year 2000, engaging a consultant to re-interpret historical geophysical surveys completed inside MLN and comparing to historical interpretations, 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 statements 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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/256737
FAQ
What is the size and scope of COSAF's summer 2025 drilling program at Murphy Lake North?
What is the ownership structure of the Murphy Lake North uranium project?
Where is the Murphy Lake North project located and what is its significance?
What were the results from COSAF's previous winter drilling program?
