Cosa Resources Up 15% After Starting Drill Program at Murphy Lake North Uranium JV With Denison Mines
Cosa Resources (COSA.V) shares were last seen up 15% after the company on Thursday said it started its drill program at the Murphy Lake North (MLN) project in northern Saskatchewan.MLN is a joint venture (JV) between Cosa, which holds a 70% interest and is the project operator, with Denison Mines (DML.TO, DNN), who holds the remaining interest. The drilling program will evaluate potential extensions of the Cyclone uranium mineralization intersected during its winter program, it said."We have officially kicked off our largest and most exciting drill program in Cosa's history, with a strong inventory of drill targets designed to follow up on uranium mineralization intersected during the winter drill program," said Chief Executive Keith Bodnarchuk.The drilling prgram is expected to comprise about 15 drill holes totaling 6,000 meters, the company said.Shares of Cosa Resources were last seen up $0.09 to $0.69 on the TSX Venture Exchange.Price: $0.69, Change: $+0.09, Percent Change: +15.00%