Cosa Resources Finishes 13-Hole Drill Program at Murphy Lake North

Cosa Resources has concluded a 13-hole, 6,752-metre summer drilling program at the Murphy Lake North uranium project. The work identified structural and alteration zones that remain open for future exploration. These results assist the joint venture in mapping the extent of the project's mineralized trends.

Cosa Resources operates the project with a 70% interest, while Denison Mines holds the remaining 30%. The campaign focused on expanding the geological understanding of the area after previous work confirmed the trend hosts uranium mineralization.

"We remain very encouraged by the potential at Murphy Lake North. Having previously confirmed the trend hosts uranium mineralization, summer drilling has significantly advanced our understanding of the geology in the immediate area," said Keith Bodnarchuk, President and CEO of Cosa Resources, in a statement.

Geological Findings at Cyclone

The summer program intersected moderate to strong alteration and structural features across all 13 holes. Technical teams focused on the Cyclone area, where winter drilling had identified signs of mineralization.

"Drilling at Cyclone has confirmed that the mineralization intersected during the winter drill program is contained within a much larger zone of structure and alteration than previously recognized. This zone remains open for at least several hundred meters along strike in both directions," said Andy Carmichael, VP Exploration at Cosa Resources.

Financial Position and Future Outlook

Cosa Resources reports a treasury of C$16 million as of the latest update. This capital position leaves the company funded for planned follow-up drilling campaigns that are expected to extend into 2027.

Exploration in the Athabasca Basin, where Murphy Lake North is situated, requires multi-year drilling cycles to define the geometry of basement-hosted uranium deposits. By confirming that the structural zones identified this summer remain open, the company has established targets for subsequent phases of work.