Cosa Resources (TSX-V:COSA) will commence its largest drill program to date at the Murphy Lake North project in mid-June, targeting open along-strike uranium mineralisation.
The 6,000m, 15-hole program will follow up winter 2026 drilling that intersected 5.0m, averaging 0.55% triuranium octoxide within an extensive structure and alteration zone approximately 265m below surface.
Denison Mines (TSX:DML) is participating in funding the 2026 exploration to maintain its 30% interest in the joint venture, with Cosa holding 70% and operating the project.
Murphy Lake North sits 2.7km east of the Hurrican deposit of IsoEnergy (TSX:ISO) in the eastern Athabasca Basin, Saskatchewan, on the Larocque Lake trend.
“Having intersected 5.0 metres averaging 0.55% triuranium octoxide within an extensive structure and alteration zone … we are eager to return to site and commence what will be the largest drill program for Cosa and the Murphy Lake North Joint Venture,” CEO Keith Bodnarchuk says.
The summer drilling will focus on the Cyclone mineralisation, which remains open along strike for 600m in both directions.
Vice President of Exploration Andy Carmichael says the company is encouraged by similarities between Cyclone’s alteration patterns and those at Hurricane, as well as the presence of nickel and cobalt coincident with uranium — a feature seen at Key Lake, Cigar Lake, and Hurricane.
“Exploration at Cyclone has progressed from initial drilling on the trend to preparing to follow up multiple intersections of uranium mineralisation with significant untested strike in both directions in less than one year,” Carmichael says.
Cosa Resources operates roughly 237,000 hectares across multiple projects in the Athabasca Basin region through a strategic collaboration with Denison established in January 2025.
Write to JC Villarba at Mining.com.au
Images: Cosa Resources
