Riding the 2023-24 Uranium Bull Market to Historic Gains

Cosa Resources Corp. (TSX-V: COSA)(OTC: COSAF) — currently trading around C$0.30 per share in a rising uranium market — is advancing a robust portfolio of ten underexplored, 100%-owned uranium exploration properties spanning over 160,000 hectares in Saskatchewan’s prolific Athabasca Basin region.

Cosa’s portfolio is strategically located with all ten properties [Ursa, Solstice, Polaris, Helios, Castor, Charcoal, Orion, Astro, Orbit, Eclipse] situated on or adjacent to prospective northeast-trending and northwest-trending uranium corridors in the basin.

The eastern basin area — where the bulk of Cosa’s properties reside — hosts some of the largest and highest-grade uranium deposits in the world, including Cameco’s Cigar Lake and McArthur River mines.

The eastern basin area — where the bulk of Cosa’s properties reside — hosts some of the largest and highest-grade uranium deposits in the world, including (see above) Cameco’s Cigar Lake and McArthur River mines. 

Cosa Resources is led by CEO Keith Bodnarchuk, P.Geo, who previously served as project geologist for US$1.3B market cap Denison Mines and later led strategy and corporate development for IsoEnergy.  

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Keith is joined by fellow P.Geo and VP of Exploration Andy Carmichael who was part of the original IsoEnergy team that discovered the Hurricane uranium deposit — the highest grade resource in the history of the Athabasca Basin. Chairman Steve Blower, P.Geo, brings a similar mining pedigree with previous stints with Denison and IsoEnergy.    

It is that level of combined mining industry experience, particularly in the Athabasca Basin region, that has allowed the Cosa Resources team to acquire a full two-thirds of its uranium exploration ground, all of which is 100%-owned, through low-cost staking.  

For example, just last month, the company roughly doubled the size of its Orion project via the low-cost staking of two contiguous mineral claims, bringing the total project area to 9,000 hectares and adding over 10 km of additional prospective magnetic low strike length. 

Cosa Resources CEO Keith Bodnarchuk — whom you’re about to hear from directly in our exclusive interview — commented via press release:

“Our technical team continues to deliver in a highly competitive staking environment. Land in the Athabasca Basin is at a premium and adding over 10 kilometers of a prospective trend is a win for our team. Year to date, we have added more than 73,000 hectares of land, and our entire portfolio remains 100%-owned.”

Andy Carmichael, VP Exploration, added:

“We are pleased to have more than doubled the prospective magnetic low strike length contained by our 100%-owned Orion property. As with the original Orion claim, this ground is highly underexplored and is prospective for uranium exploration.”

And just last week, the team added yet another 100%-owned property in the Athabasca Basin region. The newly-staked, 628 hectare Solstice uranium property covers 3 km of strike length along a prominent northwest-trending magnetic break, a setting that hosts several mineralized zones and deposits in the western Athabasca Basin region.   

Keith Bodnarchuk stated:

“Solstice is another example of our technical team adding quality exploration ground to our portfolio of Athabasca uranium exploration projects. We look forward to updating the market with detailed results of our recent exploration work, and as we prepare for our inaugural drill program at Ursa, we are eager to share the Cosa story with a much broader audience.”

Andy Carmichael added: 

“Solstice covers the southwest edge of a prominent, north-northwest trending magnetic high, a setting similar to those hosting the Shea Creek uranium deposits and F3 Uranium's JR Zone. Historical work has mapped an EM conductor immediately south of the Property's southern boundary and we will determine if it extends onto Solstice.”

Riding the 2023-24 Uranium Bull Market to Historic Gains

Next steps in the exploration process will include geophysical surveying and 3D modeling across multiple prospects with the aim of generating high-priority targets for potential drilling. 

For example, the company recently completed an airborne MobileMT survey at the contiguous Ursa and Orion prospects whereby forthcoming results, plus 3D inversion modeling, will combine to guide targeted ground geophysical surveys in advance of first-pass drilling slated for early 2024 starting at Ursa. 

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With uranium surging to decade-plus highs above US$65 per pound — and with increased demand for uranium production from safe, tier-one mining jurisdictions in North America — Cosa Resources is advantageously positioned in Canada’s Athabasca Basin region with ten 100%-owned properties and the mining acumen to advance its projects to the benefit of stakeholders. 

Cosa is well-structured with less than 50 million shares outstanding, and, by keeping costs low, is well-funded for the next phase of exploration across its portfolio, having completed a C$5.5 million private placement in June of this year.  

Our own Gerardo Del Real of Junior Resource Monthly caught up with Cosa Resources CEO Keith Bodnarchuk to discuss the team, the portfolio, and next steps in the exploration process in one of the top uranium mining districts in the world. Please enjoy! 

For more information on Vancouver-based Cosa Resources, be sure to contact the company’s IR department at 1-888-899-2672 or via email at info@cosaresources.ca. 

Sign up to receive updates directly from the company at the Cosa Resources corporate website.

Mike Fagan

Mike Fagan
Editor, Resource Stock Digest

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