COSA Resources Inc. has been granted exploration permits for their Ursa Uranium Project, located in the Athabasca Basin in Saskatchewan, Canada. The permit allows for the continued exploration of the property and the commencement of drilling. The project will be overseen by COSA’s experienced geological team and drillers.
The surface and near-surface mineral targets are estimated to host 1.02 million pounds of uranium (U3O8), with significant additional potential for a deeper target. This is a prospective high-grade uranium deposit of near surface and basement rock mineralization.
The project has a number of key features. It is close to existing infrastructure, including many of the major uranium deposits in the Alberta Basin. There is also some existing knowledge about the property as a number of historical exploration programs have been conducted there. This knowledge combined with the current exploration permit will give COSA’s team the opportunity to more efficiently and accurately delineate the extent of the deposit.
COSA’s team will be conducting a number of geophysical programs, in particular geophysical logging and surface geochemical sampling, to determine the characteristics of the deposit. In addition, mapping and drill core sampling will be conducted to determine the size, shape and grade of the deposit. The project is expected to be completed in July 2021.
The Ursa Uranium Project is a promising exploration project for COSA Resources Inc. The high grade of the deposit combined with proximity to existing infrastructure make it an attractive investment. COSA hopes that their geological team can accurately determine the extent of the deposit and successful exploration will lead to a profitable development of the project.
