Northwire Canada EditionFriday, July 24, 2026
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AVX 0.005 −nan% AII 19.91 −1.0% GWM 0.480 +0.0% GEN 0.065 +0.0% NIO 0.135 −3.6% III 7.22 −2.8% NCAU 0.295 −3.3% NEV 0.040 +0.0% ITR 3.00 −1.6% ALDE 2.79 −0.7% TECK 84.18 +4.4% FVI 11.83 −2.2% SUM 1.31 −1.5% RSMX 0.115 +4.5% STW 0.105 +5.0% PAT 0.250 +0.0% AVX 0.005 −nan% AII 19.91 −1.0% GWM 0.480 +0.0% GEN 0.065 +0.0% NIO 0.135 −3.6% III 7.22 −2.8% NCAU 0.295 −3.3% NEV 0.040 +0.0% ITR 3.00 −1.6% ALDE 2.79 −0.7% TECK 84.18 +4.4% FVI 11.83 −2.2% SUM 1.31 −1.5% RSMX 0.115 +4.5% STW 0.105 +5.0% PAT 0.250 +0.0%
Drill Results Routine +

Cosa Reports Anomalous Uranium in Sandstone at Darby Joint Venture with Denison Mines

Cosa Resources Validates Darby Sandstone Potential with Assays Following Winter Drilling

By The Northwire Desk — AI Analysis May 06, 2026 · 08:01 COSA · 0.67 Cosa Resources Corp.
Executive Summary
  • Cosa Resources reported winter 2026 drilling results from its Darby joint venture (70% operator) with Denison Mines.
  • Hole DB26-39A intersected strongly anomalous uranium in sandstone, averaging 5.6 ppm U over 103.5 metres.
  • A subinterval averaged 9.5 ppm U over 53.5 metres within the basal sandstone.
  • The Gamma Trend identified a ~150-metre-wide graphitic corridor and significant unconformity relief.
  • Assays remain pending for the Murphy Lake North (MLN) winter program, though radioactivity was previously reported in CPS counts.
  • Summer drilling campaigns are planned for Darby and MLN following completion of current work.
Material Impact
  • Confirmation of Exploration Thesis: The news provides actual assay data (ppm U) rather than just radiometric counts (CPS), validating the target identification work announced in October 2025. This reduces geological risk at the Darby project.
  • Incremental Progress: While positive, this result follows a drilling program announced in January/February 2026. The market had time to price in the expectation of results. It does not constitute a new discovery or resource definition but confirms existing models.
  • Sandstone vs. Basement: The mineralization is hosted in sandstone (5.6 ppm U). While significant width, sandstone uranium typically commands lower valuation multiples than high-grade basement unconformity deposits unless it reaches very wide intervals or higher grades. This limits immediate re-rating potential compared to a basement discovery.
  • JV Stability: Results reinforce the value of the Denison Mines partnership, ensuring continued funding support for the 30% share of exploration costs at Darby and MLN.
COSA · Price
Company Overview
  • Overview: Cosa Resources is an exploration-stage uranium company focused on the Athabasca Basin, Saskatchewan. It utilizes joint ventures (primarily with Denison Mines) to de-risk capital expenditure while retaining operatorship.
  • Flagship Projects:
    • Darby JV: 70% owned, located ~10 km west of Cigar Lake Mine. Recent focus on sandstone uranium anomalies.
    • Murphy Lake North (MLN) JV: 70% owned, near the Hurricane Deposit. Showing strong alteration and radioactivity.
    • Orion/Ursa/Orbit: 100% owned projects with varying stages of geophysical surveying and pathfinder gas identification.
Read the original news release →

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Drill Results Jun 15, 2026 · 08:01

Cosa Resources schedules follow-up drilling at Darby and Murphy Lake North following strong winter uranium intercepts.

Drill Results