12:48 PM EDT, 04/24/2024 (MT Newswires) -- Cosa Resources ( COSAF ) , down 7.3% in early afternoon trade, completed the winter 2024 diamond drilling program at its Ursa uranium Project in Saskatchewan's Athabasca Basin.

Cosa completed three holes totaling 3,438 meters at the Kodiak target area, where drill hole UR24-03 intersected "structures, hydrothermal alteration and minor sulfide mineralization" in the Athabasca sandstone.

Sufficient supplies and equipment have now been mobilized to conduct an expanded summer program, the statement added.

"To intersect encouraging structure and alteration with an initial drill program is a tremendous technical success at such a large and under-explored Project. With the completion of our over-subscribed bought deal financing for $6.5 million in March, we are fully funded for our upcoming summer exploration program consisting of drilling and target refinement at Ursa, while also advancing multiple other projects to drill readiness for 2025," chief executive Keith Bodnarchuk said in a release.

Cosa shares were last seen down C$0.03 to C$0.38 on the TSX Venture Exchange.

Price: 0.38, Change: -0.03, Percent Change: -7.32