Cosa Announces Commencement of Partner Funded Diamond Drilling Program at the Aurora Uranium Project, Athabasca Basin, Saskatchewan
Cosa initiates partner-funded drilling at Aurora, advancing its Athabasca Basin portfolio.
Cosa Resources Corp. has launched its first diamond drilling program at the Aurora Uranium Project in the Athabasca Basin since the 1980s. The initiative is fully partner-funded by Traction Uranium Corp. under an earn-in option agreement dated February 10, 2026. Under the terms of the agreement, Traction holds the right to earn up to an 80% interest in Aurora by sole-funding $9.15 million in exploration expenditures and completing cash and share payments.
The initial phase involves approximately 800 meters across four to six holes targeting conductive anomalies identified by 2024 VTEM surveys and recent 2026 magnetic and radiometric data. These targets focus on shallow-depth zones near Cameco’s Key Lake mill and historical mine. Historical context notes that no diamond drilling has occurred since 1979, with historical logs indicating zones of hydrothermal alteration, though core storage locations are unknown or destroyed.
Cosa Resources Corp. (COSA) has commenced drilling at the Aurora project, a move that directly follows the August 4, 2026 airborne survey results and the subsequent September 21, 2026 announcement. This activity aligns with the company’s previously disclosed earn-in agreement and exploration timeline. The program is fully partner-funded by Traction Uranium, meaning it carries no immediate capital burden or dilution risk for Cosa Resources. The development is expected and incremental in nature, validating the progression of the Aurora project without introducing new financial terms, unexpected geological discoveries, or strategic shifts.
Cosa Resources Corp. is a uranium-focused junior explorer operating in Saskatchewan’s Athabasca Basin. Its flagship projects are the Murphy Lake North (MLN) and Darby properties, both structured as 70/30 joint ventures with Denison Mines Corp., where Cosa acts as operator.
Murphy Lake North is located 3 km east of IsoEnergy’s Hurricane deposit. Winter 2026 drilling intersected 5.0 meters averaging 0.55% U3O8, including a 0.5-meter interval of 1.7% U3O8, with associated nickel and cobalt values.
Darby is located 10 km west of Cameco’s Cigar Lake Mine. Winter 2026 drilling highlighted over 100 meters of strongly anomalous sandstone uranium content and significant structural corridors.
The company also holds option agreements for the Aurora (Traction Uranium) and Astro (Global Uranium) projects, expanding its portfolio to over 400,000 acres.