Earlier this year, the world collectively sighed in relief. A mild European winter led to declining energy prices as Europe diversified away from Russian gas. Inflation seemed to be retreating, and the global economy exhibited resilience. Optimistically, analysts at JP Morgan heralded, “Hello lower gas prices, bye-bye recession.” However, the illusion of stability was soon shattered.
Just when the world thought it had caught a break with declining European energy prices and the promise of post-pandemic growth, the Israel-Hamas conflict emerged as a stark reminder that the problem is far from over.
The economic landscape, seemingly recovering, is again threatened by the intricate dance of geopolitics, supply, and demand.
European gas prices, already showing an upward trend before the Gaza conflict, have jumped by over a third since October. Oil prices have also witnessed a sharp incline, rising more than $20 a barrel since June. While experts believe that the conflict might not widen to engulf the broader Middle East region, its repercussions for the world economy are undeniable.1
Yet, in these turbulent times, a beacon of hope might just be shining through: nuclear energy. As countries scramble to address their energy needs, the global narrative around nuclear power is experiencing a shift.
Support for both existing and new reactors is growing in nations like Japan, South Korea, the UK, and the US. Meanwhile, the development of Small Modular Reactors (SMRs) adds a new dimension to nuclear's potential.2
The global nuclear energy sector is on track to increase its capacity by 75% in the upcoming years, according to the World Nuclear Association, which could lead to a uranium deficit if new mining initiatives aren't promptly undertaken.3
Fortunately, renewed interest in nuclear power, further fueled by growing concerns over energy security, has led to increased investment into uranium exploration, and many have their eyes on the world's largest and highest-grade uranium district, the Athabasca Basin and home to Cameco’s McArthur River mine, the largest high-grade uranium mine in the world.
Since the beginning of the nuclear resurgence, the region has seen a rise in exploration companies looking to fill the supply gap. Companies like COSA Resources Corp. (TSXV:COSA) (OTCQB:COSAF) (FSE:SSKU), a premier uranium explorer with a growing land package located in close proximity to some of Athabasca’s major discoveries.
Managed by an award-winning team of uranium Geologists, Cosa Resources’ team includes Chairman Steve Blower, a former VP Exploration at IsoEnergy and Denison Mines, who led the discovery of the Hurricane and Gryphon deposits; Strategic Advisor Craig Parry, who co-founded NexGen and IsoEnergy, contributing to the discovery of Arrow and Hurricane deposits; President & CEO Keith Bodnarchuk, who steered strategy at IsoEnergy and explored Phoenix and Gryphon deposits with Denison Mines; VP Exploration Andy Carmichael who was pivotal in the Hurricane discovery and resource estimation at IsoEnergy; and Justin Rodko, who played a key role in the Hurricane discovery team as Senior Geologist at IsoEnergy.
A Track Record of Uranium Discoveries in the Athabasca Basin
Cosa Resources holds an extensive portfolio of uranium exploration properties spanning 161,536 hectares in the Athabasca Basin, including prominent projects like Ursa, Orion, and Astro which are strategically positioned near prolific uranium corridors akin to those hosting major mines like Cameco's Cigar Lake and McArthur River.
Cosa’s Ursa property is the largest at 57,000 hectares and is located roughly 45 kilometers west of Cameco’s McArthur River uranium mine. The Ursa property captures nearly 70 km of the Cable Bay Shear Zone, maybe the only remaining eastern Athabasca uranium corridor that has not yet yielded a major discovery, primarily due to a lack of modern exploration.
Similarly, Orion is well-placed at approximately 34 km from McArthur River, at a junction with the Larocque uranium corridor.
Cosa Resources just announced the completion of project-wide geophysics at their Ursa and Orion projects. Highlights of the release include:
More than 110 km of basement conductive trend defined, including over 100 km at Ursa and over 10 km at Orion.
Large, deeply rooted basement structures fundamental to the formation of Athabasca uranium deposits are interpreted to be present at both Projects.
Multiple km-scale, sandstone-hosted conductive anomalies suggest hydrothermal alteration zones characteristic of Athabasca uranium deposits are present.
Eleven initial target areas defined, none of which have been tested by historical drilling.
The company is actively pursuing follow up work including ground geophysics and diamond drilling.
Cosa’s President and CEO, Keith Bodnarchuk noted that previous exploration efforts in the region were based on outdated airborne geophysical technology and limited data from small-scale ground electromagnetic (EM) surveys, restricting the understanding of the area's full potential.
Fortunately, Cosa's investment in modern and thorough surveys has provided a more accurate and expansive view of the prospects at Ursa and Orion. According to the new 3D conductivity model, all 15 historical drill holes were completed in low-priority areas. Fortunately, it also identified 11 initial high priority target areas, setting Cosa Resources up to advance exploration at Ursa and Orion in 2024 and beyond.
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6) This document contains forward-looking information and forward-looking statements, within the meaning of applicable Canadian securities legislation, (collectively, “forward-looking statements”), which reflect management's expectations regarding Cosa Resources Corp.’s future growth, future business plans and opportunities, expected activities, and other statements about future events, results or performance. Wherever possible, words such as “predicts”, “projects”, “targets”, “plans”, “expects”, “does not expect”, “budget”, “scheduled”, “estimates”, “forecasts”, “anticipate” or “does not anticipate”, “believe”, “intend” and similar expressions or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved, or the negative or grammatical variation thereof or other variations thereof, or comparable terminology have been used to identify forward-looking statements. These forward-looking statements include, among other things, statements relating to: (a) revenue generating potential with respect to Cosa Resources Corp.’s industry; (b) market opportunity; (c) Cosa Resources Corp.’s business plans and strategies; (d) services that Cosa Resources Corp. intends to offer; (e) Cosa Resources Corp.’s milestone projections and targets; (f) Cosa Resources Corp.’s expectations regarding receipt of approval for regulatory applications; (g) Cosa Resources Corp.’s intentions to expand into other jurisdictions including the timeline expectations relating to those expansion plans; and (h) Cosa Resources Corp.’s expectations with regarding its ability to deliver shareholder value. Forward-looking statements are not a guarantee of future performance and are based upon a number of estimates and assumptions of management in light of management’s experience and perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances, as of the date of this document including, without limitation, assumptions about: (a) the ability to raise any necessary additional capital on reasonable terms to execute Cosa Resources Corp.’s business plan; (b) that general business and economic conditions will not change in a material adverse manner; (c) Cosa Resources Corp.’s ability to procure equipment and operating supplies in sufficient quantities and on a timely basis; (d) Cosa Resources Corp.’s ability to enter into contractual arrangements with additional Pharmacies; (e) the accuracy of budgeted costs and expenditures; (f) Cosa Resources Corp.’s ability to attract and retain skilled personnel; (g) political and regulatory stability; (h) the receipt of governmental, regulatory and third-party approvals, licenses and permits on favorable terms; (i) changes in applicable legislation; (j) stability in financial and capital markets; and (k) expectations regarding the level of disruption to as a result of CV-19. Such forward-looking information involves a variety of known and unknown risks, uncertainties and other factors which may cause the actual plans, intentions, activities, results, performance or achievements of Cosa Resources Corp. to be materially different from any future plans, intentions, activities, results, performance or achievements expressed or implied by such forward-looking statements. Such risks include, without limitation: (a) Cosa Resources Corp.’s operations could be adversely affected by possible future government legislation, policies and controls or by changes in applicable laws and regulations; (b) public health crises such as CV-19 may adversely impact Cosa Resources Corp.’s business; (c) the volatility of global capital markets; (d) political instability and changes to the regulations governing Cosa Resources Corp.’s business operations (e) Cosa Resources Corp. may be unable to implement its growth strategy; and (f) increased competition.
Except as required by law, Cosa Resources Corp. undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future event or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events. Neither does Cosa Resources Corp. nor any of its representatives make any representation or warranty, express or implied, as to the accuracy, sufficiency or completeness of the information in this document. Neither Cosa Resources Corp. nor any of its representatives shall have any liability whatsoever, under contract, tort, trust or otherwise, to you or any person resulting from the use of the information in this document by you or any of your representatives or for omissions from the information in this document.
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