Keith Bodnarchuk, President and CEO of Cosa Resources Corp. (TSX-V: COSA) (OTCQB: COSAF), joins us to review the news out yesterday, on October 30th, that it has intersected multiple intervals of anomalous basement-hosted radioactivity in the final drill hole of the fall drilling program at the Company’s 100% owned Ursa uranium Project in the Athabasca Basin, Saskatchewan. The Ursa Project captures over 65-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.
Three drill holes totalling 3,423 metres were completed at Ursa to follow up winter drilling results and test an initial target area generated from the ANT survey completed by Cosa earlier this year, but it was Drill Hole # UR24-06, the 6th hole drill at the Ursa Project to date that hit radioactive signature.
Highlights Include:
- Multiple zones of basement hosted radioactivity >1,000 counts per second (“cps“) (total counts, RS-125 hand-held spectrometer) and significant sandstone alteration intersected by drill hole UR24-06
- Drill hole UR24-04 intersected intensely graphitic basement intervals with fracturing down-dip of alteration and anomalous uranium geochemistry in the sandstone of drill hole UR24-03
- Confirmed effectiveness of Ambient Noise Tomography (“ANT”) as a strike prioritization tool
- Multiple additional target areas identified by initial results of the first of two ANT grids at Ursa
Keith reviews that there will still be the drill assays to release to the market from this fall drill program, as well as the ANT results for future targets. He also discusses how significant it is that their exploration team found the radioactive signature in combination with the right structures of sandstone, unconformity, and basement rocks. In addition to all the work going on at Ursa, there will be airborne survey results at both Aurora and Orbit Projects that will be released to the market later this year, as they vector in on drill targets for the 2025 season. The Company remains fully funded to complete all of their exploration plans for balance of 2024 and into 2025.
If you have any questions for Keith regarding Cosa Resources, then please email them in to us at Shad@kereport.com or Fleck@kereport.com.
- In full disclosure, Shad is a shareholder of Cosa Resources at the time of this recording.
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