Koba drilling proves there’s plenty of uranium still to find at its Yarramba project

Koba Resources’ drilling intersects uranium mineralisation in two new areas around the Oban deposit
Results indicate there’s plenty of potential to extend mineralisation beyond its current extent
More drilling planned at the new Chivas and Berber prospects to extend mineralisation

Special Report: Koba Resources’ initial step-out drilling has highlighted the potential for new discoveries and resource expansion around its Oban uranium deposit in South Australia after intersecting mineralisation in two new areas.

Significant uranium mineralisation was intersected in the first two holes at the Chivas prospect about 700m east of the Oban deposit with one returning an interval of 0.9m at 464 parts per million (ppm) eU3O8 from a down-hole depth of 82.9m while initial extensional drilling 350m east of the Berber prospect returned a 0.3m intercept at 216ppm eU3O8.

Koba Resources (ASX:KOB) also continues to intersect shallow, high-grade mineralisation at the Oban deposit within its Yarramba project with recent drilling returning hits such as 1.1m at 1,069ppm eU3O8 from 91m and 1.3m at 827ppm eU3O8 from 84.4m.

With prospects for uranium remaining bright as nuclear power continues to boom, the timing couldn’t have been better for the company.

“We are pleased to have identified two new mineralised areas, as our ongoing drilling program at the Yarramba uranium project in South Australia continues to return strong results,” managing director Ben Vallerine said.

He added the successful drilling 700m east of Oban confirms there’s strong potential to extend mineralisation well beyond the current extents of the deposit, a finding that’s backed by the success of step-out drilling.

“These results demonstrate the significant potential to discover new mineralisation at the Yarramba Project through broad-spaced drilling.”

The Chivas and Berber prospects identified by recent drilling. Pic: Koba Resources

Road ahead

KOB’s drilling program is ongoing with plans to carry out a further 10 holes to test the extent of the mineralisation identified at the Chivas and Berber prospects and another 10 holes to test targets closer to the Oban deposit.

Drilling at Chivas is aimed at defining the extent of mineralisation and search for thicker and/or higher-grade zones while Berber drilling will seek to extend mineralisation in multiple directions.

Plans are also afoot to drill at least six holes s into new, under explored targets providing further opportunities for discovery both north of Chivas and south of Berber.

Once this drilling is completed, the rig will be mobilised ~50km south for an initial 30-hole program at the highly prospective but underexplored Mt John prospect where significant mineralisation was intersected in widely spaced historical drilling across ~15km of the Yarramba palaeochannel.

KOB believes there is considerable potential to discover high-grade mineralisation with closer-spaced and extensional drilling.

Adding interest, Mt John is just 4km north of Boss Energy’s (ASX:BOE) 10.7Mlb Jason uranium deposit and ~17km north of the Honeymoon uranium operation, both of which are also hosted within the Yarramba palaeochannel.

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.