Northwire Canada EditionThursday, November 12, 2026
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Gold 3,928.50 −1.8% Silver 50.64 −2.6% Copper 6.20 −1.5% Oil 87.17 +0.7% Palladium 1,001.50 −4.3% PDN 8.41 +4.1% FL 0.360 +0.0% RIO 2.67 −4.3% COSA 0.310 −1.6% DML 3.13 −0.3% VCU 0.770 +0.0% OMM 0.040 +0.0% NAU 0.530 −1.9% AHR 0.920 −1.1% VLD 0.400 +0.0% CPER 0.020 +0.0% STND 0.060 +0.0% SAU 0.140 +0.0% CAMB 0.600 +0.0% TUO 1.46 −1.4% ANK 0.330 −1.5% Gold 3,928.50 −1.8% Silver 50.64 −2.6% Copper 6.20 −1.5% Oil 87.17 +0.7% Palladium 1,001.50 −4.3% PDN 8.41 +4.1% FL 0.360 +0.0% RIO 2.67 −4.3% COSA 0.310 −1.6% DML 3.13 −0.3% VCU 0.770 +0.0% OMM 0.040 +0.0% NAU 0.530 −1.9% AHR 0.920 −1.1% VLD 0.400 +0.0% CPER 0.020 +0.0% STND 0.060 +0.0% SAU 0.140 +0.0% CAMB 0.600 +0.0% TUO 1.46 −1.4% ANK 0.330 −1.5%
Drill Results

Cosa Intersects Anomalous Radioactivity and Additional Prospective Geology at Darby Joint Venture with Denison Mines

Darby update adds structure, not assays; 2027 drilling is the real test

By The Northwire Desk — AI Analysis Nov 12, 2026 · 08:01 DML · 3.13 Denison Mines Corp.
Executive Summary
  • Cosa reported results from four summer 2026 holes totalling 2,741 metres at the Darby joint venture, 70% Cosa / 30% Denison Mines.
  • DB26-43, Gamma trend: multiple zones of moderate to strong faulting and alteration in the lower sandstone; unconformity intersected 22 metres lower than winter hole DB26-41, increasing total unconformity relief on section to 57 metres.
  • DB26-43 radioactivity: 950 cps over 0.5 metres from 689.0 to 689.5 metres, 33 metres below the unconformity, associated with hematite, limonite and argillization. No U3O8 assay is reported for this interval.
  • DB26-45, Gamma trend: completed 1,600 metres south along strike; intersected a 37-metre interval of faulting in the upper sandstone, interpreted as a possible additional untested structure. No radioactivity or assay is reported.
  • DB26-44, Bravo trend: followed up historical hole DB-12; intersected faulting and alteration in the lower sandstone; unconformity 41 metres lower than DB-12; interpreted as a near-miss overshot of the ideal target by about 30 metres.
  • DB26-46, Bravo trend: drilled 800 metres east of DB26-44; weakly bleached lower sandstone above the unconformity at 516.1 metres; variably graphitic gneiss from 542 to 568 metres is faulted and hosts weak to moderate hydrothermal alteration; interpreted as undershooting the optimal target by about 30 metres.
  • Cosa states assays are pending and will be used to vector drilling; follow-up at Darby and Murphy Lake North is tentatively scheduled to start simultaneously in January 2027.
Material Impact
  • Cosa is a pre-resource uranium explorer. Darby is an early-stage JV target and is secondary in the current Cosa story to the Murphy Lake North discovery, where the company has actual assayed uranium.
  • This release does not add assayed grade, tonnes, metallurgy or a resource. It adds structural confidence at Gamma and Bravo and supports a 2027 follow-up programme.
  • For Cosa, a new assayed zone at Darby would be material. A structural update with a 0.5-metre cps anomaly and two interpreted 30-metre misses is routine progress.
  • For Denison, the 30% JV interest in Darby is immaterial at its scale. The financial statements, investor presentation and price history supplied with this data set are for Denison Mines, not Cosa, and are not used to value Cosa here.
  • Prior-period context for Cosa, not disclosed in this release: the company reported about $16 million in treasury in September 2026 and described itself as funded for follow-up work. That funding statement is not independently verified by this release.
  • No Cosa share price or market capitalisation is provided in the data set, so the market’s embedded expectation cannot be measured. The release does not contain a grade that would normally force a re-rating on its own.
DML · Price
Company Overview
  • Cosa Resources Corp. is a Canadian uranium exploration company operating in northern Saskatchewan.
  • The portfolio is about 237,000 hectares across 100%-owned and Cosa-operated joint venture projects in the Athabasca Basin.
  • Darby is a 70% Cosa / 30% Denison JV, located 10 kilometres west of Cameco’s Cigar Lake Mine. Cosa is operator.
  • Murphy Lake North is a 70% Cosa / 30% Denison JV, located near IsoEnergy’s Hurricane deposit. It hosts the Cyclone trend and the company’s best assayed uranium result to date.
  • Aurora is subject to an option with Traction Uranium, which can earn up to 80% by sole-funding $9.15 million plus cash/share payments.
  • Astro is subject to an option with Global Uranium, which can earn up to 80% by sole-funding $9.5 million plus cash/share payments.
  • Orion is 100% owned. Denison is Cosa’s largest shareholder and JV partner; prior-period context puts Denison’s stake at about 18.9%.
  • Cosa has no revenue. Prior-period context: about $16 million in treasury in September 2026 and debt-free after a $12 million bought deal. This release does not update those figures.
Read the original news release →

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Production / Operations