Initial results from the drilling program at Yarramba are expected in early September. Pic: Getty Images
Koba Resources to expand 4.6Mlb Oban uranium deposit with maiden drilling
Mining
share
- Koba Resources kicks off 11,000m drill campaign at the Yarramba uranium project in SA
- The rig is currently focusing on resource expansion at the Oban deposit
- It will then relocate to the Mt John project to test for new uranium mineralisation
Special Report: Koba’s exploration team has launched a maiden drilling program at the Yarramba uranium project with hopes to grow the 4.6Mlb Oban deposit by targeting high-grade extensions to the existing resource.
Koba Resources (ASX:KOB) struck a deal with Havilah Resources (ASX:HAV) at the end of January to acquire an 80% interest in uranium rights of one of the hottest pieces of yellowcake real-estate in the country.
The 5,000km2 Yarramba project lies barely 120km southeast of the longstanding Beverley mine and immediately north of the high-grade 10.7Mlb Jason deposit being developed by uranium miner Boss Energy (ASX:BOE) at the Honeymoon operation.
With an existing resource of 8.2Mt at 260ppm U3O8 for 4.6Mlb at the Oban deposit, Yarramba boasts a strong foundation to build substantial resources given it is hosted within flat-lying carbonaceous and pyritic sands of the Eyre Formation at depths between 80m and 90m.
First drill campaign in more than 10 years
Now, with all drilling permits and approvals in place, KOB has the opportunity to grow Oban into a significant deposit by extending the high-grade trends along strike.
A recent geological review has led to the identification of numerous trends within the Oban resource where high-grade mineralisation has consistently been intersected previously with contiguous drill intersections including:
- 2.12m at 2236ppm uranium oxide;
- 2.65m at 1174ppm uranium oxide; and
- 2.20m at 1502ppm uranium oxide.
The current drilling marks the first exploration at Yarramba in more than 10 years and will be one of numerous drill programs KOB intends conducting as it systematically tests an extensive pipeline of under-explored prospects.
Eight priority targets at Mt John down the road from Boss
Drilling will also target the discovery of new mineralisation at the highly prospective Mt John prospect, just 4km north of Boss Energy’s (ASX:BOE) 10.7Mlb Jason uranium deposit and 17km north their Honeymoon operation, where uranium production recently started.
Eight priority targets were identified by the previous operator within a 15km stretch of palaeochannel with large areas remaining completely undrilled.
KOB reckons there is potential to discover additional mineralisation through closer-spaced extensional drilling.
Results in coming weeks
“Koba’s team is excited to announce that its maiden drilling has commenced at its flagship Yarramba Uranium Project in South Australia,” KOB managing director and CEO Ben Vallerine says.
“Gamma logging of holes will facilitate timely analysis, and we look forward to updating the market on results from the program in the coming weeks.”
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.
