The Canadian Organization of Strategic Acquisitions (COSA) has recently received exploration permits for the Ursa Uranium Project in the Athabasca Basin in Saskatchewan, establishing their presence in the major uranium-mining region.
The Athabasca Basin is located in Northern Saskatchewan and is recognized as one of the world’s leading producers of uranium, boasting an estimated 15% of the world’s uranium resources. This recent acquisition couldn’t have come at a more opportune time, as the demand for uranium is expected to grow as countries shift towards sustainable forms of energy.
The Ursa project is located approximately 20 kilometers east of the now-defunct Goldoby Property, an impressive previous effort undertaken by COSA. It is nestled in the Caribou Lake area, a location with a known record of uranium production. Samples of rock and soil from the area have revealed that the level of uranium present is far higher than expected. This apparent abundance has led COSA to believe that the Ursa project has the potential to generate returns far exceeding initial expectations.
COSA plans to capitalize on this uranium-rich region and develop a thorough exploration process. This leading exploration and production company’s goal is to characterize the new property, and to landscape the area with a view to developing and marketing the project as a critical component in the country’s nuclear power electricity production.
COSA’s move is a strategic one, as uranium prices hover around their lowest since the late 1980s, and with the abolition of the US Iran nuclear deal and its shoulders to drive the domestic and international demand for uranium fuel, this is an exciting exploration opportunity for COSA.
With a team of experienced professionals to manage the project, COSA has already started undertaking airborne geophysical surveys in the region, as well as undertaken geological mapping and sampling.
This is only the first step in COSA’s exploration process, and while the Ursa project may yield great results, there is still much work to do in order to make it a viable endeavor. Nevertheless, COSA’s venture into the uranium-rich Athabasca Basin marks a significant milestone and potentially lucrative journey.