Vancouver, British Columbia – TheNewswire – April 28and2022 – Cosa Resources Corp. (CNSX:COSA.NC) (“Cosa Resources“or the”Company”) is pleased to announce the completion of the field portion of the ground geophysical program of its flagship Heron Copper Project (“Heron“or the”Project”) in northern Saskatchewan. Cosa Resources holds an option to acquire a 100% interest in the Heron Copper project.
Keith Bodnarchuk, President and CEO, said: “Following a successful initial public offering and listing on the Canadian Securities Exchange in March, and after closing a $2 million non-brokered private placement in April, we have focused on exploring of our Heron copper project in northern Saskatchewan. Thanks to the excellent work of our technical team, we have completed the first phase at Heron, which consisted of ground geophysical surveys designed to track and advance the most promising targets generated by our 2021 airborne geophysical survey. Technical is currently reviewing preliminary data to help guide future exploration at Heron.
The winter 2022 exploration program at Heron consisted of magnetic and electromagnetic ground geophysical surveys. The surveys were completed in April 2022 and were designed to track the highest priority target area of the 2021 airborne geophysical survey. The main objective of the geophysical program was to map and characterize the electrical and magnetic properties of the sub -soil in the project area to target future drilling programs for the exploration of sediment-hosted copper deposits. The program consisted of a combined total of 60 km of magnetic and electromagnetic survey coverage with 100 m line spacing, narrowing to 50 m spacing above the strongest airborne anomalies.
Heron is a copper exploration project located in northern Saskatchewan, approximately 180 kilometers north of La Ronge. The project comprises three mining claims totaling 11,122 hectares and is immediately adjacent to the Janice Lake Copper property, a highly prospective sedimentary copper project owned by Forum Energy Metals Corp. and currently under option to Rio Tinto Exploration Canada. All of the claims in Heron are within 30 kilometers of the newly constructed Janice Lake Trail, and a high voltage power line passes within 4 kilometers of the central mining claim. Heron covers an underexplored area underlying the Wollaston Group sandstones that host stratoid sedimentary copper on the parallel Janice Lake property. In August 2021, Cosa Resources conducted a property-wide airborne magnetic survey. The survey successfully defined several target areas based on magnetic highs interpreted to be similar to the magnetic highs that host copper mineralization on the Janice Lake property. Cosa Resources holds an option to acquire a 100% interest in the Heron Copper project.
Figure 1: Ground geophysical location of Heron 2022
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About the company
Cosa Resources is a Canadian mining exploration company based in Vancouver, British Columbia, and is currently focused on exploring its Heron copper project. The Heron project consists of three mining claims approximately 180 km north of La Ronge, Saskatchewan and is considered prospective for sediment-hosted copper mineralization. The team behind Cosa Resources has a track record of success in Saskatchewan, with a combined 45 years of exploration, discovery and development experience in the province.
The Company’s disclosure of technical or scientific information in this press release has been reviewed and approved by Keith Bodnarchuk, P.Geo., President and CEO of Cosa Resources. Mr. Bodnarchuk is a qualified person within the meaning of National Instrument 43-101.
Keith Bodnarchuk, President and CEO
Neither the Canadian Securities Exchange nor the Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
This press release contains certain “forward-looking statements” within the meaning of applicable securities laws. When used in this press release, the words “anticipate”, “believe”, “estimate”, “expect”, “target”, “plan”, “expect”, “may”, “would “, “could”, “schedule” and similar words or phrases, identify forward-looking statements or information.
Forward-looking statements and forward-looking information regarding any future mineral production, liquidity, improvement in the value and profile of the Company’s capital markets, potential for future growth of the Company and its business, and plans for exploration are based on management’s reasonable assumptions and estimates, expectations, analyzes and opinions, which are based on management’s experience and perception of trends, current conditions and expected developments, and other factors that management deems relevant and reasonable in the circumstances, but which may prove to be incorrect. Assumptions were made regarding, among other things, the price of metals; no escalation in the severity of the COVID-19 pandemic; exploration and development costs; estimated development costs of exploration projects; the Company’s ability to operate safely and efficiently.
These statements reflect the Company’s respective current views with respect to future events and are necessarily based on a number of other assumptions and estimates which, although considered reasonable by management, are inherently subject to significant uncertainties. and commercial, economic, competitive, political and social contingencies. . Many factors, known and unknown, could cause actual results, performance or achievements to differ materially from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements or information and the Company has made assumptions and estimates based on or related to many of these factors. These factors include, but are not limited to: the Company’s dependence on a mining project; the volatility of precious metal prices; risks associated with the conduct of the Company’s mining activities; regulatory, consent or authorization delays; risks related to dependence on the Company’s management team and external contractors; the Company’s inability to obtain insurance covering all risks, whether on a commercially reasonable basis or at all; currency fluctuations; risks related to the inability to generate sufficient operating cash flow; risks related to project financing and share issues; the risks and hazards inherent in any mining project; disputes over title deeds, in particular unbuilt title deeds; environmental, health and safety laws and regulations; the ability of the communities in which the Company operates to manage and deal with the implications of COVID-19; the economic and financial implications of COVID-19 for the Company; operational or technical difficulties related to mining or development activities; employee relations, social unrest or unavailability; the Company’s interactions with surrounding communities; the speculative nature of exploration and development; stock market volatility; conflicts of interest between certain directors and officers; lack of liquidity for the shareholders of the Company; litigation risk; and factors identified in the Company’s public disclosure documents. Readers are cautioned against attributing undue certainty to forward-looking statements or forward-looking information. Although the Company has attempted to identify important factors that could cause actual results to differ materially, other factors may cause results not to be anticipated, estimated or predicted. The Company does not intend, and undertakes no obligation, to update such forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other event affecting such statements or information, except if required by applicable regulations. straight.