Cosa Resources Announces Commencement of Ground Geophysics and Expansion of Its Uranium Exploration Technical Team
Cosa Resources Announces Commencement
of Ground Geophysics and Expansion of Its
Uranium Exploration Technical Team
Vancouver, British Columbia--(Newsfile Corp. - May 16, 2024) -
Cosa Resources Corp.
(TSXV:
COSA) (OTCQB: COSAF) (FSE: SSKU)
("
Cosa
" or the "
Company
") is pleased to announce the
commencement of Ambient Noise Tomography (ANT) surveying at the 100% owned Ursa and Orion
Uranium Projects in the Athabasca Basin and the appointment of Daniel Hrabok as Senior Project
Geologist.
Mr. Hrabok is a Professional Geoscientist with over a decade of experience exploring for uranium.
Having joined Areva (now Orano) in January of 2013, Mr. Hrabok has extensive experience in uranium
exploration and at post-discovery projects throughout the Athabasca and Thelon Basins. Mr. Hrabok has
been part of teams working on notable uranium properties including Shea Creek, McClean Lake,
Maybelle River and the Kiggavik projects and is familiar with a broad range of uranium mineralization
settings and styles. He has also been part of teams on the Parker Lake and Close Lake projects, which
are adjacent to Cosa's Ursa, Astro, and Orion projects.
Andy Carmichael, VP of Exploration, commented:
"Mr. Hrabok's level of experience, encompassing
more than a dozen uranium projects of varied maturity and geological setting, brings a wealth of
technical and operational expertise to Cosa's exploration team. We are well positioned to leverage
Dan's experience operating projects throughout the Athabasca Basin to identify and pursue future
opportunities, while more effectively advancing our existing portfolio of uranium projects. Passionate
and capable exploration Geologists are a fundamental component of a successful exploration team,
and we are proud to include Dan in our endeavor to discover the Athabasca Basin's next tier-1
uranium deposit."
Daniel Hrabok, Senior Project Geologist, commented:
"I am thrilled to be joining Cosa Resources and
to be part of an experienced and accomplished technical team. In a relatively short time, the Cosa
team has acquired and is quickly advancing a portfolio of prospective and under-explored uranium
projects. Results from the recently completed inaugural drill program at Ursa are encouraging, and I
am excited to apply my experience to our projects across the Athabasca Basin and continue Cosa's
hunt for the next major uranium discovery."
Ambient Noise Tomography Survey
ANT surveying has commenced and will be completed at both the Ursa and Orion Projects over the
coming weeks. At Ursa (Figure 1), ANT will be deployed over roughly 27-kilometres of conductive strike
length. Most notably, included in the survey area is winter drill hole UR24-03 which intersected
encouraging structure and hydrothermal alteration (dravite-rich breccias) several hundred metres above
the sub-Athabasca unconformity. At Orion (Figure 2), ANT will cover a kilometre-scale zone of sandstone
hosted conductivity anomaly that is coincident with potentially complex conductive basement geology on
strike with weak mineralization and encouraging structure and hydrothermal alteration intersected at
Orano's neighbouring Parker Lake project. ANT has been demonstrated to be a cost-effective and low-
impact method of locating hydrothermal alteration systems at depth, and results of this work will be used
to guide future drilling, including the upcoming summer drill program at Ursa. Geochemistry and clay
spectroscopy results for the recently completed winter drill program at Ursa are still pending and will be
incorporated into the Company's drill strategy upon receipt. For more detail on Cosa's ANT surveys and
other summer plans, please see the Company's news release dated May 9
th
, 2024.
Figure 1 — Ursa ANT Survey Areas over 2023 MobileMT™ Results
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9865/209379_1a9c5b43945d39cc_003full.jpg
Figure 2 — Orion ANT Survey Area over 2023 MobileMT™ Results
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9865/209379_1a9c5b43945d39cc_004full.jpg
About Cosa Resources Corp.
Cosa Resources is a Canadian uranium exploration company operating in northern Saskatchewan. The
portfolio comprises roughly 209,000 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. This news release refers to
properties in which the Company has no interest.
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.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/209379