- Drilling will evaluate multiple conductive anomalies adjacent to or up-ice from uranium-source radiometric anomalies.
- The first drilling program at Aurora since the 1980’s significantly benefits from advances in geophysical technology and understanding of eastern Athabasca deposit models.
- Drilling is fully funded by Traction as part of a multi-year earn-in; Cosa is the operator.
Beyond the Headline
Cosa has begun the first drilling at Aurora in more than 40 years. The program is modest, approximately 800 m in 4–6 holes but is testing several relatively shallow uranium targets about 16 km east of Cameco’s Key Lake mill and historical mine. Targets A1, A2, A4 and A5 are primarily conductive anomalies defined by Cosa’s 2024 VTEM survey and subsequently refined with magnetic/radiometric work. Three of the four target areas have uranium-source radiometric anomalies down-ice, providing an independent indication that uranium-bearing material may be associated with the conductive trends. Sandstone cover is thin, less than 100 m in the northern portion and absent over much of the rest of the property so the targets can be tested relatively inexpensively.
The program is financially attractive for Cosa. Traction Uranium is funding 100% of the drilling, with the right to earn as much as 80% of Aurora by funding $9.15 million of exploration plus cash/share payments; Cosa remains the operator.