Nuclear Power Gains Momentum as Global Energy Concerns Resurface Amidst Geopolitical Tensions

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–News Direct–

Earlier this year, the world collectively sighed in relief. A mild European winter led to declining energy prices as Europe diversified away from Russian gas. Inflation seemed to be retreating, and the global economy exhibited resilience. Optimistically, analysts at JP Morgan heralded, Hello lower gas prices, bye-bye recession. However, the illusion of stability was soon shattered.

Just when the world thought it had caught a break with declining European energy prices and the promise of post-pandemic growth, the Israel-Hamas conflict emerged as a stark reminder that the problem is far from over.

The economic landscape, seemingly recovering, is again threatened by the intricate dance of geopolitics, supply, and demand.

European gas prices, already showing an upward trend before the Gaza conflict, have jumped by over a third since October. Oil prices have also witnessed a sharp incline, rising more than $20 a barrel since June. While experts believe that the conflict might not widen to engulf the broader Middle East region, its repercussions for the world economy are undeniable.1

Yet, in these turbulent times, a beacon of hope might just be shining through: nuclear energy. As countries scramble to address their energy needs, the global narrative around nuclear power is experiencing a shift.

Support for both existing and new reactors is growing in nations like Japan, South Korea, the UK, and the US. Meanwhile, the development of Small Modular Reactors (SMRs) adds a new dimension to nuclear's potential.2

The global nuclear energy sector is on track to increase its capacity by 75% in the upcoming years, according to the World Nuclear Association, which could lead to a uranium deficit if new mining initiatives aren't promptly undertaken.3

Fortunately, renewed interest in nuclear power, further fueled by growing concerns over energy security, has led to increased investment into uranium exploration, and many have their eyes on the world's largest and highest-grade uranium district, the Athabasca Basin and home to Camecos McArthur River mine, the largest high-grade uranium mine in the world.

Since the beginning of the nuclear resurgence, the region has seen a rise in exploration companies looking to fill the supply gap. Companies like COSA Resources Corp. (TSXV:COSA) (OTCQB:COSAF) (FSE:SSKU), a premier uranium explorer with a growing land package located in close proximity to some of Athabascas major discoveries.

Managed by an award-winning team of uranium Geologists, Cosa Resources team includes Chairman Steve Blower, a former VP Exploration at IsoEnergy and Denison Mines, who led the discovery of the Hurricane and Gryphon deposits; Strategic Advisor Craig Parry, who co-founded NexGen and IsoEnergy, contributing to the discovery of Arrow and Hurricane deposits; President & CEO Keith Bodnarchuk, who steered strategy at IsoEnergy and explored Phoenix and Gryphon deposits with Denison Mines; VP Exploration Andy Carmichael who was pivotal in the Hurricane discovery and resource estimation at IsoEnergy; and Justin Rodko, who played a key role in the Hurricane discovery team as Senior Geologist at IsoEnergy.

A Track Record of Uranium Discoveries in the Athabasca Basin

Cosa Resources holds an extensive portfolio of uranium exploration properties spanning 161,536 hectares in the Athabasca Basin, including prominent projects like Ursa, Orion, and Astro which are strategically positioned near prolific uranium corridors akin to those hosting major mines like Cameco's Cigar Lake and McArthur River.

Cosas Ursa property is the largest at 57,000 hectares and is located roughly 45 kilometers west of Camecos McArthur River uranium mine. The Ursa property captures nearly 70 km of the Cable Bay Shear Zone, maybe the only remaining eastern Athabasca uranium corridor that has not yet yielded a major discovery, primarily due to a lack of modern exploration.

Similarly, Orion is well-placed at approximately 34 km from McArthur River, at a junction with the Larocque uranium corridor.

Cosa Resources just announced the completion of project-wide geophysics at their Ursa and Orion projects. Highlights of the release include:

  • More than 110 km of basement conductive trend defined, including over 100 km at Ursa and over 10 km at Orion.

  • Large, deeply rooted basement structures fundamental to the formation of Athabasca uranium deposits are interpreted to be present at both Projects.

  • Multiple km-scale, sandstone-hosted conductive anomalies suggest hydrothermal alteration zones characteristic of Athabasca uranium deposits are present.

  • Eleven initial target areas defined, none of which have been tested by historical drilling.

  • The company is actively pursuing follow up work including ground geophysics and diamond drilling.

Cosas President and CEO, Keith Bodnarchuk noted that previous exploration efforts in the region were based on outdated airborne geophysical technology and limited data from small-scale ground electromagnetic (EM) surveys, restricting the understanding of the area's full potential.

Fortunately, Cosa's investment in modern and thorough surveys has provided a more accurate and expansive view of the prospects at Ursa and Orion. According to the new 3D conductivity model, all 15 historical drill holes were completed in low-priority areas. Fortunately, it also identified 11 initial high priority target areas, setting Cosa Resources up to advance exploration at Ursa and Orion in 2024 and beyond.

Click here for more information about COSA Resources Corp. (TSXV:COSA) (OTCQB:COSAF) (FSE:SSKU)

[1] https://www.theguardian.com/business/2023/oct/22/as-a-global-energy-crisis-returns-the-uk-push-for-a-green-economy-makes-even-more-sense

[2] https://www.world-nuclear-news.org/Articles/IEA-sees-increasing-role-for-nuclear-in-energy-tra

[3] https://www.wsj.com/livecoverage/stock-market-today-dow-jones-09-07-2023/card/uranium-market-heads-for-potential-shortage-says-nuclear-association-0AsKeRgpyASIW3I1KsCo

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