Northwire Canada EditionThursday, August 6, 2026
Sign inSubscribe
Northwire
⌕
ARTG 37.67 +7.3% SAGE 0.120 +4.3% NTR 93.88 −0.3% ERO 42.71 +4.6% EDR 12.55 +7.1% IFOS 2.23 −0.5% URE 1.80 −2.2% AAUC 27.50 +4.3% IMR 0.145 +3.6% EQX 14.50 +7.4% OGC 37.67 +6.8% TFPM 43.89 +4.4% SGD 15.42 +5.4% BKM 2.55 +3.2% OR 45.20 +4.4% CDE 24.46 +7.2% ARTG 37.67 +7.3% SAGE 0.120 +4.3% NTR 93.88 −0.3% ERO 42.71 +4.6% EDR 12.55 +7.1% IFOS 2.23 −0.5% URE 1.80 −2.2% AAUC 27.50 +4.3% IMR 0.145 +3.6% EQX 14.50 +7.4% OGC 37.67 +6.8% TFPM 43.89 +4.4% SGD 15.42 +5.4% BKM 2.55 +3.2% OR 45.20 +4.4% CDE 24.46 +7.2%
Drill Results

Cosa, Denison approve 2026 uranium exploration program

By The Northwire Desk — AI Analysis Dec 17, 2025 · 18:39 COSA · 0.33 Cosa Resources Corp.
COSA · Price

Executive Summary

  • Cosa Resources Corp. and Denison Mines Corp. have approved the 2026 exploration program for their joint venture uranium projects, Darby and Murphy Lake North (MLN), located in the eastern Athabasca basin, Saskatchewan.
  • The 2026 plan includes four drilling campaigns (winter and summer at both sites) and property-scale ground geophysical surveying (DC resistivity) at MLN to prioritize drill targets.
  • The announcement coincides with a recent $7.5 million oversubscribed private placement by Cosa and includes the granting of 1,845,000 incentive stock options to company personnel.

Key Details

  • Joint Venture Structure: Darby and MLN are 70/30 joint ventures between Cosa Resources (operator) and Denison Mines.
  • Project Locations:
    • Darby: Located 10 km west of Cameco's Cigar Lake mine.
    • Murphy Lake North (MLN): Located 3 km east of IsoEnergy's Hurricane deposit.
  • 2026 Drilling Strategy:
    • Darby: Winter drilling will follow up on historical drilling results, targeting zones of coincident sandstone alteration and anomalous geochemistry proximal to graphitic basement faults.
    • MLN: Winter drilling will focus on the Cyclone trend (following up on 2025 intersections of structure and alteration over a 2 km strike length). Summer drilling will utilize results from geophysical surveys.
  • Geophysical Surveys: Direct current (DC) resistivity surveying is planned for MLN starting in April 2026 to identify zones of anomalous resistivity indicating hydrothermal alteration or faulting.
  • Timeline:
    • Field crew mobilization expected early 2026.
    • Drilling at Darby commences late January 2026.
    • Drilling at MLN concludes late March 2026.
    • DC resistivity surveying at MLN planned to commence in April 2026.
  • Financing Context: Cosa recently closed an oversubscribed $7.5 million private placement with strong insider participation, including from Denison Mines.
  • Stock Option Grant:
    • Quantity: 1,845,000 incentive stock options.
    • Recipients: Directors, officers, employees, and advisers.
    • Exercise Price: 33 cents per share.
    • Vesting: Over a period of two years.
    • Validity: Five-year period from the date of grant.

Notable Quotes

  • Keith Bodnarchuk, President and CEO of Cosa: "Having recently closed the oversubscribed $7.5-million private placement with strong insider participation including from Denison Mines, we are in a terrific position entering 2026... The entire Cosa team is excited to begin testing our pipeline of highly compelling drill targets."
  • Andy Carmichael, Vice-President of Exploration: "With multiple strongly anomalous historical drill holes on several trends at Darby and two kilometres of strong alteration with graphitic faulting at MLN to follow up, Cosa is entering the 2026 exploration season with the best inventory of exploration targets in the company's history."
Read the original news release →

More from Cosa Resources Corp.

Aug 04, 2026 · 08:01

Cosa advances Aurora targets with a partner-funded radiometric survey ahead of planned fall drilling.

Drill Results Jul 15, 2026 · 08:01

Cosa clears final deferred shares and raises $12m to secure its funding runway through 2027.

M&A / Property Jun 26, 2026 · 08:01

Cosa Commences Partner Funded Ambient Noise Tomography Survey at the Astro Uranium Project, Athabasca Basin, Saskatchewan

Drill Results Jun 25, 2026 · 08:01

Cosa advances its Athabasca Basin uranium portfolio through partner-funded exploration and strategic joint ventures.

Drill Results Jun 24, 2026 · 08:58

Cosa secured c$12m for summer drilling at its athabasca project with denison support.

Financings Jun 18, 2026 · 08:01

Cosa Resources launches a 6,000m summer drill program at Murphy Lake North following promising winter intercepts.

Drill Results