Energy

(TheNewswire)

Cosa Resources Corp.

Vancouver, British Columbia TheNewswire - November 15, 2022 Cosa Resources Corp. ( CSE: COSA ) ("Cosa Resources" or the "Company") is pleased to announce the start of an airborne geophysical survey on the Charcoal and Castor uranium projects. Both projects are 100% owned by the Company and located in the prolific Athabasca Basin in Northern Saskatchewan.

Keith Bodnarchuk, President & CEO, commented: "The start of our exploration program on the recently acquired Charcoal and Castor uranium projects is an exciting development for Cosa. The timing of the airborne geophysical survey is important because it will set the Company up for more advanced exploration in 2023. We look forward to advancing our current uranium assets and continuing to explore value accretive opportunities for our team and project portfolio."

The Survey

Geotech Airborne Geophysical Surveys (Geotech Ltd.)  has been contracted to fly a 1,540 line-km of Versatile Time-Domain Electromagnetic (VTEM™ Plus) and Horizontal Magnetic Gradiometer survey over the Castor and Charcoal projects. The VTEM™ Plus system will be flown over the project lands with flight lines spaced at 150m apart, providing high-resolution imaging of potential mineralizing systems associated with basement-hosted uranium deposits. The survey is now underway and will help to characterize the geology of the projects by locating conductive stratigraphy and alteration zones in areas of structural complexity. Surveying is expected to be complete within two to four weeks and data processing and interpretation of the results will follow immediately afterward.

The Projects

Charcoal

A large, 21,080 ha property, Charcoal is located 52 km northeast of Cameco Corp.'s Rabbit Lake – Eagle Point mine operations. The property sits within a prominent magnetic low anomaly that extends northeast from the mine (Figure 1). The magnetic low signature likely indicates the presence of prospective metasedimentary bedrock beneath the glacial till cover. Additionally, historical assessment records from the Government of Saskatchewan indicate the presence of numerous airborne electromagnetic conductors, possibly indicating the presence of graphitic metasediments and associated brittle faults, which are often associated with uranium mineralization in the Athabasca Basin. The property is 8 km up-ice from a historical radioactive boulder field. As Charcoal is beyond the basin edge, basement rocks extend to the top of the bedrock and there is no overlying sandstone.

Castor

Castor, like Charcoal, lies beyond the Athabasca Basin edge and therefore has no overlying sandstone cover. The property is located 55 km north of Cameco Corp.'s Rabbit Lake – Eagle Point uranium mine operations (Figure 1). Basement rocks extend to the top of the bedrock. Castor is located at the intersection of a prominent northeast trending magnetic low anomaly that is roughly parallel to the Eagle Point – Collins Bay magnetic low at Charcoal and an east-west trending magnetic low anomaly. This intersection may be an area of enhanced structural complexity that would be prospective for uranium mineralization.

Figure 1: Charcoal and Castor 2022 Airborne Geophysics Location


Click Image To View Full Size

About Cosa Resources

Cosa Resources is a Canadian mineral exploration company based in Vancouver, BC and is currently focused on the exploration of its uranium and copper projects in northern Saskatchewan. The portfolio includes four uranium exploration properties; Ursa, Orion, Castor and Charcoal totaling 46,700 ha in the eastern Athabasca Basin. It also includes t he Heron Project: three mineral claims approximately 180 km north of La Ronge, Saskatchewan that are prospective for sedimentary-hosted copper mineralization.

The team behind Cosa Resources has a track record of success in Saskatchewan, with a combined 45 years of experience in exploration, discovery, and development in the province.

Qualified Person

The Company's disclosure of technical or scientific information in this press release has been reviewed and approved by Keith Bodnarchuk, P.Geo., President & CEO for Cosa Resources. Mr. Bodnarchuk is a Qualified Person as defined under the terms of National Instrument 43-101.

Contact

Keith Bodnarchuk, President and CEO

kbodnarchuk@cosaresources.ca

+1 888-899-2672 (COSA)

Cautionary Statements

Neither the Canadian Securities Exchange nor the Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release includes certain "Forward‐Looking Statements" within the meaning of applicable securities laws. When used in this news release, the words "anticipate", "believe", "estimate", "expect", "target", "plan", "forecast", "may", "would", "could", "schedule" and similar words or expressions, identify forward‐looking statements or information. These forward looking statements or information relate to, among other things: the exploration, development, and production at the Company's mineral projects.

Forward‐looking statements and forward‐looking information relating to any future mineral production, liquidity, enhanced value and capital markets profile of the Company, future growth potential for the Company and its business, and future exploration plans are based on management's reasonable assumptions, estimates, expectations, analyses and opinions, which are based on management's experience and perception of trends, current conditions and expected developments, and other factors that management believes are relevant and reasonable in the circumstances, but which may prove to be incorrect. Assumptions have been made regarding, among other things, the price of metals; no escalation in the severity of the COVID-19 pandemic; costs of exploration and development; the estimated costs of development of exploration projects; the Company's ability to operate in a safe and effective manner.

These statements reflect the Company's respective current views with respect to future events and are necessarily based upon a number of other assumptions and estimates that, while considered reasonable by management, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance, or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward‐looking statements or forward-looking information and the Company has made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation: the Company's dependence on one mineral project; precious metals price volatility; risks associated with the conduct of the Company's mining activities; regulatory, consent or permitting delays; risks relating to reliance on the Company's management team and outside contractors; the Company's inability to obtain insurance to cover all risks, on a commercially reasonable basis or at all; currency fluctuations; risks regarding the failure to generate sufficient cash flow from operations; risks relating to project financing and equity issuances; risks and unknowns inherent in all mining projects; contests over title to properties, particularly title to undeveloped properties; laws and regulations governing the environment, health and safety; the ability of the communities in which the Company operates to manage and cope with the implications of COVID-19; the economic and financial implications of COVID-19 to the Company; operating or technical difficulties in connection with mining or development activities; employee relations, labour unrest or unavailability; the Company's interactions with surrounding communities; the speculative nature of exploration and development; stock market volatility; conflicts of interest among certain directors and officers; lack of liquidity for shareholders of the Company; litigation risk; and the factors identified in the Company's public disclosure documents. Readers are cautioned against attributing undue certainty to forward‐looking statements or forward-looking information. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update these forward‐looking statements or forward-looking information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements or information, other than as required by applicable law.

Copyright (c) 2022 TheNewswire - All rights reserved.

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Cosa Resources Announces Appointment of Craig Parry as Strategic Advisor

Cosa Resources Announces Appointment of Craig Parry as Strategic Advisor

(TheNewswire)

Cosa Resources Corp.

Cosa Resources Corp. ( CSE: COSA ) ("Cosa Resources" or the "Company") is pleased to announce the appointment of Craig Parry as a Strategic Advisor to the Company, effective immediately.  The Company also announces that it has retained Red Cloud Securities Inc. (" Red Cloud ") to provide market making liquidity services to the Company in compliance with the policies and guidelines of the Canadian Securities Exchange (" CSE ") and other applicable legislation

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Purepoint Uranium Announces Increase in Offering Size for Non-Brokered Private Placement

Purepoint Uranium Announces Increase in Offering Size for Non-Brokered Private Placement

Purepoint Uranium Group Inc. (TSXV: PTU) (OTCQB: PTUUF) ("Purepoint" or the "Company") is pleased to announce that due to strong investor demand, it has increased the offering size of the non-brokered private placement previously announced on November 23, 2022 from $2,000,000 to $3,750,000 (the "Offering"). Up to 53,571,429 flow-through units ("Units") at a price of $0.07 per Unit are issuable pursuant to the Offering. Each Flow-Through Unit consists of one common share of the Company to be issued on a "flow through" basis pursuant to the Income Tax Act (Canada) (each a "Flow-Through Share") and one-half (12) of one common share purchase warrant. Each whole warrant entitles its holder to purchase one common share of the Company (each a "Warrant Share") at an exercise price of $0.105 per share for a period of 24 months from the date of issuance. The completion of the Offering is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and corporate approvals, including the approval of approval of the Offering by the TSX Venture Exchange.

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FORTUNE BAY FILES NI 43-101 PEA TECHNICAL REPORT FOR THE GOLDFIELDS PROJECT, SASKATCHEWAN

FORTUNE BAY FILES NI 43-101 PEA TECHNICAL REPORT FOR THE GOLDFIELDS PROJECT, SASKATCHEWAN

Fortune Bay Corp. (TSXV: FOR) (FWB: 5QN) (OTCQX: FTBYF) ("Fortune Bay" or the "Company") is pleased to announce filing of an independent Preliminary Economic Assessment ("PEA") technical report for its 100% owned Goldfields Project ("Goldfields" or the "Project") located near Uranium City, Saskatchewan .

Fortune Bay Corp. Logo (CNW Group/Fortune Bay Corp.)

Fortune Bay's News Release dated November 1, 2022 , titled " Fortune Bay Announces Positive PEA For Goldfields Project, Saskatchewan ", outlines the key results, assumptions and estimates contained in the Goldfields PEA, which provides a base case assessment for developing the Goldfields mineral resource by conventional open pit mining methods, and gold recovery with a standard free milling flowsheet. In summary, the economic model supports an operation with low capital cost and high rate of return over an 8.3 year mine life, with average annual production of 101,000 ounces of gold.

PEA Highlights:
  • Robust economics with after-tax net present value ("NPV") (discount rate 5%) of C$285M , internal rate of return ("IRR") of 35.2% and payback of 1.7 years estimated with gold price of US$1,650 per ounce
  • Average annual gold production of 101,000 ounces over life of mine ("LOM"), with an average of 122,000 ounces per year in the first 4 years
  • 8.3 year LOM producing 835,000 ounces of gold
  • Average cash cost of US$778 /oz and all-in sustaining cost ("AISC") of US$889 /oz gold
  • Initial capital expenditure of C$234M

The PEA technical report was prepared in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects ("NI 43-101") by Ausenco Engineering Canada Inc. ("Ausenco"), in collaboration with Moose Mountain Technical Services for the mine design, and SRK Consulting ( Canada ) Inc. for the updated mineral resource estimate and environmental, permitting and social aspects. The technical report is available on the Fortune Bay Corp. company profile at www.sedar.com , and is also available on the Company website www.fortunebaycorp.com .

The technical and scientific information in this news release has been reviewed and approved by Dale Verran , M.Sc., P.Geo., Chief Executive Officer of the Company, who is a Qualified Person as defined by NI 43-101. Mr. Verran is an employee of Fortune Bay and is not independent of the Company under NI 43–101.

About Goldfields

The 100% owned Goldfields Project is located approximately 13 kilometres south of Uranium City in northern Saskatchewan . The Project comprises 12 mineral dispositions, covering approximately 5,000 hectares, and is host to the Box and Athona gold deposits and numerous other gold prospects and occurrences. The Project is located within a historical mining area and benefits from established infrastructure, including a road and hydro-powerline to the Box deposit. Nearby facilities and services in Uranium City include bulk fuel, civil contractors, and a commercial airport. The Project has a history of gold production (64,000 oz produced between 1939 to 1942), numerous exploration drilling campaigns (over 1,000 drill holes) and historical mining studies by previous owners of the Project. The current total gold resource for Box and Athona (effective date September 1, 2022 ) stands at 979,900 ounces of gold in the Indicated category (23.2 million tonnes at an average grade of 1.31 g/t gold) and 210,800 ounces of gold in the Inferred category (7.1 million tonnes at an average grade of 0.92 g/t gold).

About Ausenco

Ausenco is a global company based across 26 offices in 14 countries, with projects in over 80 locations worldwide. Combining deep technical expertise with a 30-year track record, Ausenco delivers innovative, value- add consulting studies, project delivery, asset operations and maintenance solutions to the mining and metals, oil & gas and industrial sectors.

Fortune Bay Corp. (TSXV: FOR) (FWB: 5QN) (OTCQX: FTBYF) is an exploration and development company with 100% ownership in two advanced gold exploration projects in Canada , Saskatchewan (Goldfields Project) and Mexico , Chiapas (Ixhuatán Project), both with exploration and development potential. The Company is also advancing the 100% owned Strike and Murmac uranium exploration projects, located near the Goldfields Project, which have high-grade potential typical of the Athabasca Basin. The Company has a goal of building a mid-tier exploration and development Company through the advancement of its existing projects and the strategic acquisition of new projects to create a pipeline of growth opportunities. The Company's corporate strategy is driven by a Board and Management team with a proven track record of discovery, project development and value creation. Further information on Fortune Bay and its assets can be found on the Company's website at www.fortunebaycorp.com or by contacting us as info@fortunebaycorp.com or by telephone at 902-334-1919.

On behalf of Fortune Bay Corp.

"Dale Verran"
Chief Executive Officer
902-334-1919

Cautionary Statement Regarding Forward-Looking Information

Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management's current estimates, beliefs, intentions, and expectations. They are not guarantees of future performance. Words such as "expects", "aims", "anticipates", "targets", "goals", "projects", "intends", "plans", "believes", "seeks", "estimates", "continues", "may", variations of such words, and similar expressions and references to future periods, are intended to identify such forward-looking statements, and include, but are not limited to, statements with respect to: the results of the PEA, including future Project opportunities, future operating and capital costs, closure costs, AISC, the projected NPV, IRR, timelines, permit timelines, and the ability to obtain the requisite permits, economics and associated returns of the Project, the technical viability of the Project, the market and future price of and demand for gold, the environmental impact of the Project, and the ongoing ability to work cooperatively with stakeholders, including the local levels of government. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management's expectations. Risks, uncertainties and other factors involved with forward- looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, the Company's objectives, goals or future plans, statements, exploration results, potential mineralization, the estimation of mineral resources, exploration and mine development plans, timing of the commencement of operations and estimates of market conditions. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to failure to identify mineral resources, failure to convert estimated mineral resources to reserves, the inability to complete a feasibility study which recommends a production decision, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, inability to fulfill the duty to accommodate First Nations and other indigenous peoples, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, capital and operating costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry, and those risks set out in the Company's public documents filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law. For more information on Fortune Bay, readers should refer to Fortune Bay's website at www.fortunebaycorp.com .

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE Fortune Bay Corp.

Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/November2022/25/c4183.html

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Purepoint Uranium Announces Private Placement

Purepoint Uranium Announces Private Placement

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Skyharbour to Carry Out Multiple Phases of Diamond Drilling Totalling 10,000 Metres at the Russell Lake Uranium Project, Saskatchewan

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Skyharbour Resources Ltd. (TSX-V: SYH ) (OTCQ X : SYHBF ) (Frankfurt: SC1P ) (the "Company") is pleased to announce plans for a multi-phased drill campaign at its recently optioned 73,294 hectare Russell Lake Uranium Project strategically located in the central core of the Eastern Athabasca Basin of northern Saskatchewan. Skyharbour is planning 10,000 metres of diamond drilling over three phases to be completed by September of next year and is fully funded for the drill campaign.

Russell Lake Project Location Map:
http://www.skyharbourltd.com/_resources/images/SKY-RussellLake-20220325-Inset.jpg

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Purepoint Uranium Announces Approval of Upcoming Hook Lake Drill Program

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Purepoint Uranium Group Inc. (TSXV: PTU) (OTCQB: PTUUF) ("Purepoint" or the "Company") announced today that a winter exploration drill program at the Hook Lake Project has been approved by the joint venture partners with drilling to commence in January 2023. The Hook Lake Project is a joint venture between Cameco Corporation (39.5%), Orano Canada Inc. (39.5%), and Purepoint (21%). The Project lies on the southwestern edge of Canada's Athabasca Basin and is adjacent to, and on trend with, high-grade uranium discoveries including Fission Uranium's Triple R Deposit and NexGen's Arrow Deposit.

"We appreciate the ongoing support of our partners Cameco and Orano in the advancement of this important project," said Chris Frostad, President and CEO of Purepoint. "With its proximity to the two largest uranium discoveries of the last decade and our encouraging results to date, we continue to see immense opportunity for discovery at this project."

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CanAlaska Assays Return 25.4% U3O8 at West McArthur

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Additional Highlights Include 3.98% U3O8over 2.3 metres and 0.84% U3O8over 5.0 metres

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