Northwire Canada EditionWednesday, July 29, 2026
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NAM 0.250 +0.0% CRD 0.065 +8.3% OLA 12.90 −3.7% CG 22.70 −2.5% EQX 12.89 −4.0% FM 37.51 −2.3% MNRG 0.080 −11.1% KFR 1.31 +0.8% AUMN 0.275 +0.0% GLB 0.250 +0.0% BHS 0.045 −10.0% EGR 0.025 +0.0% RIO 2.59 −4.1% GEN 0.070 +0.0% MAI 4.39 −2.0% RYR 0.175 +0.0% NAM 0.250 +0.0% CRD 0.065 +8.3% OLA 12.90 −3.7% CG 22.70 −2.5% EQX 12.89 −4.0% FM 37.51 −2.3% MNRG 0.080 −11.1% KFR 1.31 +0.8% AUMN 0.275 +0.0% GLB 0.250 +0.0% BHS 0.045 −10.0% EGR 0.025 +0.0% RIO 2.59 −4.1% GEN 0.070 +0.0% MAI 4.39 −2.0% RYR 0.175 +0.0%
Drill Results

Cosa Resources expands MLN, Darby JVs with Denison

By The Northwire Desk — AI Analysis Mar 03, 2026 · 20:15 DML · 5.46 Denison Mines Corp.
DML · Price

Executive Summary

  • Cosa Resources Corp. has expanded its uranium exploration portfolio in the eastern Athabasca basin by acquiring six new claims totaling 2,669 hectares across its Murphy Lake North (MLN), Darby, and Orion projects.
  • The expansion includes significant additions to the Darby and MLN joint ventures with Denison Mines Corp. (70/30 split) and the 100% owned Orion project, targeting known conductive features, inferred extensions, and areas proximal to favorable drilling results.
  • All claims were acquired for minimal cash consideration with no encumbrances, allowing Cosa to advance exploration activities, including planned drilling at Darby and MLN in 2026.

Key Details

  • Total Expansion: Six claims totaling 2,669 hectares added across three projects.
  • Acquisition Terms: All claims acquired for minimal cash consideration with no encumbrances or royalties.
  • Darby Project (Joint Venture with Denison Mines, 70/30):
    • Added two claims totaling 758 hectares.
    • Extends the northern border immediately south of the Tucker Lake uranium zone.
    • Covers the strike extension of the Delta trend (northeast-trending conductor defined by 2011 EM survey, not yet drill-tested).
    • ZTEM survey results suggest potential for an extension of the Echo trend.
    • Delta trend flagged for first-pass drilling as early as H2 2026.
  • Murphy Lake North (MLN) Project (Joint Venture with Denison Mines, 70/30):
    • Added three claims totaling 345 hectares.
    • Located south of the Cyclone trend.
    • Area covers ground where 2025 drilling intersected broad zones of sandstone alteration and structure above graphitic basement rocks over a strike length of two kilometers.
    • Primary 2026 objective is to follow up on these positive results.
    • Drilling intended to commence in Q1 2026, followed by project-wide DC-resistivity surveying and an expanded summer drilling campaign.
  • Orion Project (100% Owned):
    • Added one claim totaling 1,564 hectares.
    • Extends Orion to the southeast.
    • Covers a zone of enhanced basement-hosted conductivity near the edge of the conductivity model from 2025 ZTEM surveying.
    • Zone coincides with a historical conductor in a Saskatchewan government digital compilation and is located within a magnetic high, suggesting a favorable structural setting.
  • Strategic Context:
    • Darby is located 10 km west of Cameco's Cigar Lake mine; MLN is 3 km east of IsoEnergy's Hurricane deposit.
    • Orion is located 29 km west of Cigar Lake and immediately east of Orano's Parker Lake project.
    • Cosa is the operator of Darby and MLN.
    • Historical drilling at Darby has demonstrated high prospectivity, though most strike length has not been effectively evaluated; Cosa is undertaking its first diamond drilling program at Darby since 2009.
    • MLN covers a portion of the Larocque Lake trend, hosting the along-strike extension of basement geology underlying the Hurricane deposit.

Notable Quotes

  • Justin Rodko, PGeo, Vice-President of Corporate Development: "We are pleased to have expanded the Darby and Murphy Lake North joint ventures, as well as our underexplored and prospective Orion project. All claims were acquired at low cost with no royalties and capture the interpreted extensions of known conductive and/or mineralized trends and expand the projects proximal to positive drilling results. We remain committed to advancing exploration and target generation across our eastern Athabasca portfolio as the company is actively drilling the Darby JV, and winter drilling and ground-based resistivity surveying are planned to follow at MLN."
Read the original news release →

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Drill Results