Cosa Reports ANT Survey Results from the Ursa and Orion Uranium Projects, Athabasca Basin, Saskatchewan
Cosa Reports ANT Survey Results from the
Ursa and Orion Uranium Projects, Athabasca
Basin, Saskatchewan
Vancouver, British Columbia--(Newsfile Corp. - May 28, 2025) -
Cosa Resources Corp. (TSXV:
COSA) (OTCQB: COSAF) (FSE: SSKU)
("
Cosa
" or the "
Company
") is pleased to report results from
ambient noise tomography ("
ANT
") surveys at the Company's 100% owned Ursa and Orion uranium
projects in the Athabasca Basin, Saskatchewan ("
Ursa
", or "
Orion
" or the "
Project
").
Highlights
Target areas characterized by kilometre-scale ANT velocity anomalies that span the unconformity
have been identified at Ursa and Orion and may reflect significant uranium bearing hydrothermal
systems
Drilling on trend with all target areas has intersected weak uranium mineralization, altered and
geochemically enriched structural zones, and graphitic basement rocks; features consistently found
near all tier-1 deposits in the eastern Athabasca Basin
Cosa provides update on summer exploration plans, including follow up drilling at the Murphy Lake
North Joint Venture
Andy Carmichael, Vice President Exploration, commented:
"Cosa's strategy of using large-scale ANT
surveys to prioritize conductive strike led to the strongest and widest intersection of uranium
mineralization on the Ursa Project from Cosa's first drill hole to test an ANT target. With only 21 drill
holes completed within the 65-kilometre-long Project, Ursa has vast underexplored and increasingly
prospective exploration space to fit multiple tier-1 deposits, and we have demonstrated that modern
geophysical surveys can produce lower risk drill targets than conventional electromagnetic (EM)
surveys alone. Target generation EM and ANT work at Orion has also identified compelling target
areas on trend with known mineralization and highly prospective geology."
Ambient Noise Tomography
ANT is a cost effective and low impact geophysical method that uses data collected from a grid of
sensors to produce a three-dimensional model of subsurface seismic wave velocity. The Athabasca
sandstone is relatively homogenous, and prospective structural disruption and hydrothermal alteration
associated with the region's uranium deposits can cause seismic velocity anomalies. Recent exploration
drilling in the Athabasca Basin region targeting ANT anomalies has intersected zones of hydrothermal
alteration, including drilling at Cosa's Ursa project.
Ursa
ANT surveying at Ursa covered the 27-kilometres of Kodiak trend hosting all four weakly mineralized drill
holes within the Project (Figure 2). Interpretation has highlighted two high-priority target areas along the
mineralized trend.
U1 is a prominent low velocity anomaly located above strongly conductive basement mapped by Cosa's
previous EM surveys. U1 has been tested by a single drill hole, UR24-06, which intersected over 100
metres of continuous sandstone alteration including a 65-metre-long zone with intervals of lost core,
desilicification, and locally increased uranium content (see Cosa's news release dated 30 October
2024). UR24-06 also intersected several intervals of weak uranium mineralization in the basement.
These results validate the Company's approach of using ANT to prioritize conductive strike length for drill
testing. Further follow up is warranted.
The U2 low velocity anomaly is rooted in the basement and extends into the overlying sandstone. U2 is
approximately 2 kilometres long and located above the eastern flank of the Kodiak conductive trend.
Historical surveying mapped a basement EM conductor trending through the U2 anomaly. CR-04, the
single historical drill hole proximal to U2, intersected several zones of lost core and fracturing in medial
to lower sandstones with illite and uranium enrichment.
Orion
ANT surveying at Orion targeted an area of interpreted structural complexity between the eastern
extension of trends hosting weak uranium mineralization on Orano's neighboring Parker Lake Project,
and the interpreted western extension of the east-west oriented magnetic low trend hosting the Cigar
Lake Mine and Tucker Lake Zone. Three priority target areas were identified (Figure 3).
The O1 target is a low velocity anomaly extending from the basement into the overlying sandstone. O1 is
favourably located above a flexure in a conductive basement trend which parallels a magnetic high. ANT
and historical airborne electromagnetic (EM) results suggest an east-west oriented structure trending
through the area. Target O1 measures approximately 1,700 by 800 metres.
The O2 target is also a vertically extensive low velocity anomaly and is interpreted as located over the
intersection of an east-west trending structure with a basement conductive trend. Target O2 is situated
along a splay from the conductive trend hosting Target O1 and measures approximately 1,800 by 900
metres.
Target O3 is a low velocity anomaly located where the interpreted O2 structure intersects the western
flank of the basement conductive trend. O3 is a prominent velocity anomaly spanning the unconformity
and measuring approximately 1,600 by 700 metres.
Next Steps
ANT surveys have been successful in identifying targets and prioritizing conductive strike for follow-up. At
Ursa, ground EM surveying is required to further refine targets prior to follow-up diamond drilling. At
Orion, Cosa intends to complete a reinterpretation of historical airborne and ground electromagnetic
surveys to determine if additional ground EM surveys are warranted to finalize drill targets. Detailed
timing for follow up work has yet to be determined as the Company's near-term focus remains on
returning to the Murphy Lake North Joint Venture for an expanded summer drill program to follow up on
encouraging results from the winter 2025 drill program.
2025 Summer Exploration
Cosa will be very active this summer with planned drilling at the Murphy Lake North Joint Venture,
geophysics at Cosmo and Orion, and target generation at the Darby Lake Joint Venture. More details
will be provided in the coming weeks.
Figure 1 - Cosa Projects
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9865/253571_9654e2fba481bb01_003full.jpg
Figure 2 - Ursa Lower Sandstone ANT Results
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9865/253571_9654e2fba481bb01_004full.jpg
Figure 3 - Orion Lower Sandstone ANT Results
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https://images.newsfilecorp.com/files/9865/253571_9654e2fba481bb01_005full.jpg
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 100% owned and Cosa-operated Joint Venture
projects in the Athabasca Basin region, all of which are underexplored, and the majority reside within or
adjacent to established uranium corridors.
In January of 2025, the Company entered a transformative strategic collaboration with Denison Mines
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 results in CR-04 are available within the Saskatchewan Mineral Assessment Database
(SMAD) reference 74G16-0008. Relogging of CR-04 has not been completed by Cosa as the cores
have been destroyed by wildfire. Historical EM results referred to from Ursa are from SMAD references
74G09-0005, 74G16-0007 and 74G16-0008. Historical EM results have not been verified as digital data
are not available, and these sources have been relied on only for qualitative purposes.
Historical drilling results from the Tucker Lake Zone and the Parker Lake Project were sourced from
SMAD references MAW02121, MAW02291, 74H14-0021, 74I02-0031, and 74I02-0051. Verification of
Parker Lake drilling results included reviewing core photos, drill logs, and assay results. Verification of
Tucker Lake Zone drilling results was limited to verifying drill hole locations from orthophotos and
reviewing drill logs and assay results. Parker Lake EM results, which included portions of the Orion
project, were sourced from SMAD references MAW00736 and 74I04-0010. Cosa engaged a
geophysical consultant to review and reinterpret a portion of these dataset to confirm the presence of
EM conductors.
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
+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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