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Cosa Resources Announces Acquisition of Orbit Uranium Exploration Property in the Athabasca Basin Region, Saskatchewan
Vancouver, British Columbia – TheNewswire - June 26, 2023 – Cosa Resources Corp. (CSE:COSA) (“Cosa Resources” or the “Company”) is pleased to announce the acqui
About this update from Cosa Resources Corp.
[{"type":"text","content":"Vancouver, British Columbia – TheNewswire - June 26, 2023 – Cosa Resources Corp. (CSE:COSA) (“Cosa Resources” or the “Company”) is pleased to announce the acquisition of the 100% owned Orbit uranium exploration property in the Athabasca Basin region, Saskatchewan. Highlights Orbit covers four kilometres of the interpreted strike extension of a reactivated graphitic structural trend Drilling 10 kilometres southwest along trend intersected 0.07% U over 0.2 metres within strongly altered graphitic faulting The 6,669-hectare project was acquired by low-cost staking and is 100% owned by Cosa Resources with no encumbrances Cosa’s uranium exploration portfolio now comprises 147,347 hectares of highly prospective exploration ground in the Athabasca Basin Region of Saskatchewan Keith Bodnarchuk, President & CEO, commented: “The acquisition of Orbit further demonstrates Cosa’s commitment to identifying and pursuing opportunities that have been historically overlooked and under explored. We will continue to seek new opportunities that afford Cosa’s shareholders exposure to meaningful exploration in exciting areas.” Andy Carmichael, VP of Exploration commented: “We are delighted to have acquired this prospective ground which has never seen a ground-based electromagnetic survey or a drill hole despite being located along trend of a graphitic structure hosting strong alteration and weak uranium mineralization. Located only 22 kilometres south of a past producing mine and a currently operating mill, we look forward to advancing this project towards drill testing.” Orbit Property The Orbit Property comprises two mineral claims totaling 6,669 hectares. Orbit is located 19 kilometres south of the Athabasca Basin and 22 kilometres south of the Key Lake Mill and former Key Lake Mine (Figure 2). Between 1983 and 2002 the Key Lake Mine produced 209.8 million pounds of U3O8 at an average grade of 2.3% U3O8. The Key Lake Mill is one of three licensed uranium mills in Saskatchewan and processes ore from the McArthur River Mine. Access to Orbit is good as provincial Highway 914 passes within 17 kilometres and an existing network of winter roads extends to within 11 kilometers of the Property. Orbit covers four kilometres of the interpreted strike extension of a prospective, reactivated graphitic structural trend which hosts weak min...