Cosa Resources Corp. (CSE: COSA) is delighted to announce the beginning of an airborne geophysical survey on the Charcoal and Castor uranium deposits in Northern Saskatchewan’s Athabasca Basin. Each site is 100% owned by the firm.
Geotech Airborne Geophysical Surveys has been contracted to conduct a 1,540 line-km VTEM™ Plus Versatile Time-Domain Electromagnetic and Horizontal Magnetic Gradiometer survey over the Castor and Charcoal properties. VTEM™ Plus line-km will be flown over the Castor and Charcoal land with line-km spaced at 150m apart, resulting in high-resolution imaging of potential uranium-mineralizing systems associated with basement-hosted uranium deposits. The geology of the areas will be determined by locating conductive stratigraphy and alteration zones in areas of structural complexity, which is now underway. Two to four weeks after surveying is completed, data processing and interpretation of the results will follow.
Project Charcoal and Castor
Charcoal is a 21,080-hectare site located about 52 kilometers east of Cameco Corp.’s Rabbit Lake – Eagle Point mine. A prominent magnetic anomaly is northeast of the mine (Figure 1). The glacial till cover is probably composed of metasedimentary bedrock, as indicated by the low magnetic signature. Furthermore, the Government of Saskatchewan’s historical assessment records indicates numerous airborne electromagnetic conductors, typically associated with uranium mineralization in the Athabasca Basin. As Charcoal is located beyond the basin edge, the bedrock extends to the top of the basement rock, and there is no overlying sandstone. A radioactive boulder field is located 8 kilometers up-ice.
The Castor property is 55 kilometers north of Cameco Corp.’s Rabbit Lake-Eagle Point uranium mine (Figure 1). The Athabasca Basin edge delineates Castor, and thus it has no sandstone cover. Basement rocks are exposed at the summit of the bedrock. The intersection of an east-west magnetic low anomaly at Castor that runs parallel to the Eagle Point-Collins Bay magnetic low at Charcoal is linked to an east-west magnetic low anomaly. This intersection might be where uranium mineralization is more probable because of structural complexity.