On June 18, 2026 Cosa Resources announced that drilling has commenced at the Company’s Murphy Lake North (MLN) project which is a joint venture between Cosa (70%) and Denison Mines Corp. (30%) with Cosa the project operator. MLN is located 3 km east of IsoEnergy’s Hurricane Deposit.
Beyond the Headline
On June 18, 2026 Cosa Resources announced that drilling has commenced at the Company’s Murphy Lake North (MLN) project which is a joint venture between Cosa (70%) and Denison Mines Corp. (30%) with Cosa the project operator. MLN is located 3 km east of IsoEnergy’s Hurricane Deposit.
Drilling will evaluate potential extensions of the Cyclone uranium mineralization intersected during the winter program which is open along strike for 600 metres in both directions and located only 265 metres below surface. Winter drilling results indicate that the Cyclone Trend is an extensive corridor of strong structure and alteration that hosts uranium mineralization comparable to discovery intersections from multiple Athabasca uranium deposits.
Drilling in the summer 2026 program will comprise approximately 6,000 metres in 15 drill holes and is the largest drill program in the history of the Company. Denison participated in funding the 2026 exploration program at MLN to maintain its 30% interest.
Uranium mineralization was intersected in the three of the five holes of the winter program with a best intercept in hole MLN26-013 of 1.7% U3O8 over 0.5m within a broader interval of 5.0 m of 0.55% U3O8, This 5.0m intersection also contains 4.1% Ni and 1.7% Co, consistent with multiple polymetallic eastern Athabasca uranium deposits including Cigar Lake, Key Lake, and Hurricane.
Hole MLN26-016 interested a 1.0m mineralized interval grading 0.04% U3O8 directly below the unconformity immediately north of the strongest basement faulting intersected at the Cyclone trend and 40 metres north of the nearest hole on section. This intersection is interpreted as a potential near-miss of the ideal target with significant space for additional mineralization.
This will be an interesting drill program to follow as previous drilling has clearly identified a favourable environment for significant unconformity related uranium mineralization. The Cosa team has a strong track record of success in discovering uranium deposits in the Athabasca Basin in Saskatchewan.