Cosa Exploration Inc., a subsidiary of CanAlaska Uranium Ltd., has been granted two exploration permits from the Saskatchewan Ministry of Energy and Resources for its uranium exploration project at the Athabasca Basin in Saskatchewan, Canada. This grant is for the Ursa uranium project, which is located immediately north and east of Cameco and AREVA’s McArthur River uranium mine.
Upon issuance of the permits, Cosa received the exclusive rights to explore and evaluate the mineral potential of the properties, which are around 14,000 acres in size. While current activity on the project is limited to drilling and geophysics, Cosa could eventually apply for a mining lease from the Province of Saskatchewan if any valuable uranium resources are discovered.
The Athabasca Basin is one of the most prolific uranium producing regions in the world and is home to the world’s largest high grade uranium deposits. Cosa will look to take advantage of the historically proven high grade of uranium found in the Basin and in the region in order to increase the global supply of uranium for nuclear power generation.
Uranium exploration projects such as Cosa’s Ursa project run the risk of run-off pollution. However, Cosa has noted that they will be adhering to stringent environmental standards and regulations set by the province in order to ensure that their activities will have minimal environmental impact on the local ecosystem.
Cosa is confident that their exploration of the Ursa uranium project will yield promising results and promote further development of uranium in the Athabasca Basin, bringing economic benefits to the region.
