Cosa Reports Geophysical Survey Results from Castor and Charcoal Uranium Projects
Vancouver, British Columbia – TheNewswire - April 20, 2023 – Cosa Resources Corp. (CSE:COSA) (“Cosa Resources” or the “Company”) is pleased to announce the preliminary results of the airborne electromagnetic (EM) surveys recently completed on its 100% owned Castor and Charcoal uranium projects in the Eastern Athabasca Basin region.
EM conductors confirmed on both properties with more than 50 kilometres total conductive strike length defined
Conductors at Charcoal lie along the interpreted northeastern extension of the Collins Bay – Eagle Point conductive trend
Conductors at Castor were previously unknown and are located in a zone of structural complexity
Keith Bodnarchuk, President & CEO, commented: “I would like the thank our technical team and the contractors, who, despite facing harsh weather conditions, completed the survey safely and on budget. These results are a success, with the survey outlining previously unidentified structurally complex conductors on Castor and confirming the extension of conductors onto the Charcoal property. We look forward to updating the market about our upcoming summer exploration program on our 100% owned Athabasca Basin land package.”
Andy Carmichael, VP of Exploration commented: “The VTEM™ Plus survey results at Castor and Charcoal confirm that EM conductors, which are associated with all major uranium deposits in the Athabasca Basin region, are present at both properties. We are pleased to have opened up a significant strike length of newly-identified conductors at Castor and mapped the interpreted extension of the Collins Bay – Eagle Point conductive trend at Charcoal. Interpretation of these results is ongoing and next steps are being considered to continue advancing these properties.”
Geotech Airborne Geophysical Surveys (Geotech Ltd.) completed 932 line-km of Versatile Time-Domain Electromagnetic (VTEM™ Plus) and Horizontal Magnetic Gradiometer survey over the Castor and Charcoal properties in late 2022 and early 2023. The survey was flown to map EM conductors within the properties. EM conductors are potentially indicative of the presence of graphite- and/or sulphide-bearing basement rocks which are associated with all significant uranium deposits in the Athabasca Basin region.
Regional magnetic and historical EM results suggest the Charcoal property covers the northeast extension of conductive trends associated with the Collins Bay and Eagle Point deposits. The 459 line-kilometres of VTEM™ Plus surveying over the southwestern portion of Charcoal defined more than 27 kilometres of strike length of northeast-trending EM conductors located along the interpreted extension of the Collins Bay-Eagle Point trend, of which more than 20 kilometres are interpreted as moderately to strongly conductive. As the survey covered approximately 25% of the Charcoal property, significant potential remains to define additional conductive strike to the northeast. Figure 2 shows the airborne survey results at Charcoal.
The Castor property covers a flexure where a prominent magnetic low zone changes orientation from northeast-trending to west-trending. The 473 line-kilometres of VTEM™ Plus surveying completed by Cosa defined more than 27 kilometres of strike length of northeast-trending EM conductors at Castor, over 16 kilometres of which are interpreted to be moderately to strongly conductive. The longest strongly conductive trend is located in the western portion of the project and crosscuts the axis of the magnetic low, suggesting complex folding of conductive basement rocks within the area. No EM conductors were previously known within the property as the most recently airborne EM survey of the area was completed in 1978. Figure 2 shows the airborne survey results at Castor.
Both projects have been upgraded by establishing the presence of prospective EM conductors and additional work is warranted. Following interpretation of the final airborne survey dataset, additional target generation work may include extending VTEM™ Plus coverage over the remainder of Charcoal. Target refinement at both projects may include high-resolution airborne gravity surveys to locate gravity lows potentially related to basement-hosted hydrothermal alteration zones followed by prospecting/ground truthing.
Figure 1 – Cosa’s Eastern Athabasca Portfolio with Prospective Uranium Corridors
About Cosa Resources
Cosa Resources is a Canadian mineral exploration company based in Vancouver, BC and is focused on the exploration of its uranium properties in northern Saskatchewan. The portfolio includes five uranium exploration properties: Ursa, Orion, Castor, Charcoal, and Helios, with over 100,000 hectares in the prolific eastern Athabasca Basin.
The team behind Cosa Resources has a track record of success in Saskatchewan, with over a century of combined experience in uranium exploration, discovery, and development in the province.
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 Resources. Mr. Carmichael is a Qualified Person as defined under the terms of National Instrument 43-101. This news release refers to neighboring properties in which the Company has no interest. Mineralization on those neighboring properties does not necessarily indicate mineralization on the Company’s properties.
Keith Bodnarchuk, President and CEO
+1 888-899-2672 (COSA)
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