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Koba delves deeper into Canadian yellowcake territory with huge uranium project expansion
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- Koba Resources expands search for uranium in eastern Canada by acquiring adjacent mining claims, significantly increasing its landholding
- The Harrier project comes with historical exploration data showing high-grade uranium mineralisation
- Despite being underexplored, the project has yielded impressive rock chip sampling results
- Koba Resources plans to initiate field work in June, focusing on prospecting, mapping, and geochemical sampling
Special Report: Uranium-focused Koba Resources (ASX:KOB) has significantly widened its search for the energy metal in eastern Canada, expanding its high-grade Harrier project by grabbing hold of adjacent mining claims.
Koba Resources has upped the ante on its Canadian yellowcake search.
The company has now staked the strike extensions to its Harrier uranium project in Newfoundland and Labrador, securing a 100% interest in an additional 358km2 of adjacent mining claims.
That now sees Harrier cover 489km2 within a heavily under-explored world-class uranium district that hosts numerous deposits, including 127.7mlbs of U3O8 at the Michelin uranium project owned by Paladin Energy.
This expansion, says the company, will greatly increase the chances of discovering large, high-grade uranium deposits.
Underexplored and high grade
Koba only acquired the Harrier project just last month and has reasons to be excited about it beyond the Michelin ‘nearology’ factor.
Historical exploration has proven that high-grade uranium mineralisation is widespread across the project with rock chip sampling returning +1% U3O8 from nine different prospects, three of which have never been drilled.
Top samples are 5.83% U3O8 at the Moran Heights prospect, 5.08% U3O8 at Fish Hawk North and 4.86% at Brook. Those are super grades. The average uranium deposit mined globally have grades in the order of 0.2% U3O8.
Despite this prospectivity, the project is heavily underexplored with just 89 holes totalling 9834m drilled across its grounds.
‘Enormous potential’
Regarding the expansion, MD Ben Vallerine reiterated this morning Harrier’s “enormous potential”, noting:
“We have now staked new claims to cover the strike extensions of the geological trends that host these high-priority prospects. We have nearly quadrupled our landholding to 489km2.”
“This project is located only 50km west of one of the largest uranium resources in North America [the aforementioned Michelin], so with high grades and large deposits, this area is exceptionally prospective.”
Field work to kick off next month
Vallerine added that Koba’s chief focus remains on its Yarramba uranium project in South Australia, where drilling is set to commence during June.
That said, it doesn’t diminish the company’s excitement for its Canadian hunt.
“We will also commence an initial reconnaissance exploration program at the Harrier project in the coming weeks, to begin evaluating our higher-priority prospects so we can start advancing these to drill-ready stage,” he added.
Koba’s inaugural field program will kick off in early June. The program will include prospecting, mapping and geochemical sampling.
More than 25 target areas have been earmarked for exploration around the project’s nine prospects.
This article was developed in collaboration with Koba Resources, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
