Keith Bodnarchuk, President and CEO of Cosa Resources Corp. (TSXV: COSA) (OTCQB: COSAF) (FSE: SSKU), joins me to review the news released on May 26th regarding the multiple intercepts of uranium mineralization from the winter drill program, followed by the news on May 28th which announced summer plans for the largest drill program to date at the Company's Murphy Lake North ("MLN") project.
Muphy Lake North is a joint venture between Cosa and Denison Mines Corp. (TSX: DML) (NYSE American: DNN) and is located three kilometres east of IsoEnergy's Hurricane deposit, in the eastern Athabasca Basin, Saskatchewan. Cosa is the project operator and holds a 70% interest with Denison holding a 30% interest.
Winter Drill Program Assay Highlights
Uranium mineralization confirmed in three holes featuring a best intercept in drill hole # MLN26-013 of 5.0 metres averaging 0.55% U3O8 including 0.5 metres 1.7% U3O8 along the Cyclone trend
The 5.0 metre uranium intersection in MLN26-013 also contains 4.1% nickel and 1.7% cobalt, consistent with multiple polymetallic eastern Athabasca uranium deposits including Cigar Lake, Key Lake, and Hurricane
Uranium mineralization is shallow at 265 metres depth and remains open along strike for 600 metres to the west and 600 metres to the east
Summer Drill Program:
Multiple intersections of unconformity related uranium mineralization remain open along strike for 600 metres in both directions; drilling to focus on step-out tests of the Cyclone mineralization approximately 265 metres below surface
Largest drill program to date at Murphy Lake North will commence in mid-June and comprise approximately 6,000 metres and15 drill holes
Denison participating in funding 2026 exploration at MLN to maintain its 30% interest
Next Steps
Crews are preparing to mobilize, and a rapid start-up is expected as the drill and supporting equipment remains on site at MLN. The Company expects to announce the commencement of drilling in mid-June, which will take approximately two months to complete, and will be followed by drilling at the Company's Darby joint venture.
If you have any questions for Keith regarding Cosa Resources, then please email them into me at
[email protected] * In full disclosure, Shad is a shareholder of Cosa Resources at the time of this recording and may choose to buy or sell shares at any time.
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