Koba strikes yellowcake in first holes at Yarramba

Shallow, high-grade uranium intersected in multiple maiden drill holes
Expansive drill campaign to continue targeting high-grade South Australian uranium
Drilling to turn towards a largely undrilled prospect close to a major deposit

Special Report: The first holes of an expansive maiden campaign have revealed Koba’s quarry of shallow, high-grade uranium mineralisation.

The first nine holes of Koba Resources’ (ASX:KOB) maiden campaign into the Yarramba Uranium Project have revealed shallow, high-grade uranium mineralisation – intersected at the Oban deposit in South Australia.

The beginnings of the 100-hole campaign across Yarramba returned an early highlight of 3.9m at 805 ppm eU3O8 from 87.0m, including a 1.3m stretch at 1,261ppm and other results including:

2.1m at 870ppm eU3O8 from 86.3m
0.7m at 493ppm eU3O8 from 90.3m
4.2m at 210ppm eU3O8 from 86.6m.

Koba Managing Director and CEO Ben Vallerine said the company was pleased to report strong initial results from the maiden program.

“Our initial results are highly encouraging and demonstrate the potential for the discovery of shallow, thick, high-grade mineralisation at the Oban Deposit,” he said.

“I look forward to continuing to regularly report results as we advance this extensive initial drilling campaign over the coming months.”

Down the yellowcake road

Koba now plans to drill another 70 holes for around 7500m at Oban, directed at expanding its current uranium resource base through the extension of known high-grade trends.

After that, the company intends to drill another 30 holes for approximately 3000m with the aim of discovering high-grade mineralisation at its Mt John prospect which it considers poorly explored – remaining largely undrilled despite a location 4km along strike from the 10.7Mlb Boss Energy (ASX:BOE) Jason uranium deposit.

Targets at the Mt John Prospect. Pic: KOB

International assets

With the backdrop of increasing uranium prices amidst Kazakhstan production cuts and an increasing amount of international reactors set to come online, Koba has established its assets in proven Western locations.

Yarramba features over 250km of highly prospective paleochannels, which Koba believes hold outstanding potential for large, high-grade deposits in uranium-endowed, mining-friendly South Australia.

Koba’s other uranium project sits (much) further north in Canada’s Newfoundland and Labrador province, an area considered yet to be properly explored, even considering Paladin Energy’s (ASX:PDN) 127.7Mlbs uranium collection and Koba’s own very high grade taste of up to 74,800ppm.

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.