Northwire Canada EditionSunday, July 26, 2026
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B 0.150 +0.0% IFOS 2.28 −2.6% IMM 0.060 +0.0% ROCK 3.38 −1.7% NVX 0.250 −7.4% HAR 0.050 +0.0% YGT 0.175 +0.0% GEN 0.070 −nan% CRB 0.040 +14.3% MSA 7.07 +2.2% AEM 204.81 +0.7% OPW 0.105 +5.0% GRL 0.275 −1.8% AIS 0.150 +0.0% CUU 0.580 −1.7% SOMA 0.720 +5.9% B 0.150 +0.0% IFOS 2.28 −2.6% IMM 0.060 +0.0% ROCK 3.38 −1.7% NVX 0.250 −7.4% HAR 0.050 +0.0% YGT 0.175 +0.0% GEN 0.070 −nan% CRB 0.040 +14.3% MSA 7.07 +2.2% AEM 204.81 +0.7% OPW 0.105 +5.0% GRL 0.275 −1.8% AIS 0.150 +0.0% CUU 0.580 −1.7% SOMA 0.720 +5.9%
Drill Results Routine +

Cosa Reports Anomalous Radioactivity in Multiple Drill Holes at the Murphy Lake North Joint Venture with Denison Mines

Cosa Resources Extends Uranium Anomaly at Murphy Lake North as Assays Await

By The Northwire Desk — AI Analysis Apr 13, 2026 · 08:01 COSA · 0.68 Cosa Resources Corp.
Executive Summary
  • On April 13, 2026, Cosa Resources reported results from a five-hole winter drilling program (2,015m) at the Murphy Lake North (MLN) joint venture with Denison Mines.
  • Three of the five holes intersected anomalous radioactivity within the Cyclone structural corridor.
  • Hole MLN26-013 confirmed previous March 24 results: a continuous 5.0m interval of >1,000 cps (up to >13,900 cps) at ~307m depth.
  • Two additional holes (MLN26-014 and MLN26-016) also intersected anomalous radioactivity (>350 cps), confirming the trend extends beyond the initial intercept.
  • Radioactive zones remain open along strike for at least 600m east and west within a >100m wide corridor.
  • Chemical assay results are pending; no grade confirmation is available yet.
  • The company engaged Northern Venture Group for promotional services at C$10,000 per month for an initial three-month term effective April 15, 2026.
Material Impact
  • Confirmation of Trend: This release validates the March 24, 2026 announcement which reported the first significant intercept (MLN26-013). The addition of two more holes with radioactivity reduces the risk that the initial hit was an anomaly or isolated event.
  • Market Expectations: The stock price rallied significantly from C$0.53 in late March to a high of C$0.75 in early April following the initial intercept news. This follow-up announcement largely confirms what the market had already priced in regarding the potential for a discovery.
  • Lack of Grade Data: Without assay results, the economic value remains speculative. Radioactivity (cps) does not equate directly to U3O8 grade without chemical confirmation.
  • Marketing Costs: The new C$10,000/month marketing agreement adds to operating expenses, which is a minor negative for cash flow but standard for junior explorers seeking visibility during active drilling campaigns.
  • Conclusion: While positive for exploration confidence, the news does not materially exceed the expectations set by the March 24 release. It is an incremental step in the discovery process rather than a definitive resource definition.
COSA · Price
Company Overview
  • Overview: Cosa Resources is an early-stage uranium explorer focused on the Athabasca Basin, Saskatchewan. The strategy relies on joint ventures with Denison Mines to share costs while retaining operatorship (70% interest).
  • Flagship Project: Murphy Lake North (MLN) is the current focus due to recent drilling success. It is located ~3km from IsoEnergy's Hurricane Deposit.
  • Other Assets:
    • Darby JV (70% Cosa): Near Cigar Lake Mine.
    • Orion, Ursa, Orbit: 100% owned projects with geophysical anomalies.
    • Aurora & Astro: Option agreements where partners fund exploration (Traction Uranium and Global Uranium respectively).
Read the original news release →

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