Koba’s Oban deposit looks the goods as drilling keeps uranium intercepts coming

Koba’s drilling intersects more high-grade uranium including a 1.39m hit grading 617ppm eU3O8 at its Yarramba project
Mineralisation hosted within carbonaceous channel sands comparable to those hosting other significant deposits in the region
More drilling to be carried out at the Oban deposit before rig moves to the Mt John prospect

Special Report: Koba Resources’ maiden drilling at its Yarramba uranium project in South Australia is already paying dividends with results highlighting the potential to expand shallow, high-grade mineralisation at the Oban deposit.

Since its first holes struck uranium at the deposit in early September, the company has completed another 15 – taking the total completed up to 24 out of a planned program of ~110 holes – and the results have been encouraging.

Koba Resources (ASX:KOB) reported the intersection of shallow, high-grade uranium mineralisation in multiple holes at Oban with a top hit of 6.81m grading 237 parts per million eU3O8 from a down-hole depth of 85.6m including 1.39m at 617ppm eU3O8 from 85.6m in hole OBRM018.

The news comes as uranium’s prospects continue to look bright with both Microsoft and Google looking to power their energy-hungry AI data centres in the US using nuclear power.

M&A activity – at least in the US – is also heating up with NYSE-listed Uranium Energy Corp acquiring Rio Tinto’s (ASX:RIO) Wyoming yellowcake assets for US$175m, while ISO Energy bought Anfield Energy for US$126.8m.

The first 24 drill holes at Oban. Pic: Koba Resources

Measuring up and next steps

“We are pleased to announce that our ongoing maiden drilling program at the Yarramba uranium project in South Australia continues to return strong results, with multiple holes returning shallow, high-grade intersections including 1.39m at 617ppm eU3O8,” managing director Ben Vallerine said.

“Our drilling continues to focus on the Oban uranium deposit, where we are continually intersecting strong uranium mineralisation hosted within carbonaceous channel sands that are comparable to those that host other significant uranium deposits in the region.

“Another 56 holes are planned at Oban, targeting the expansion of known mineralisation, by delineating extensions to the known high-grade trends, and through the discovery of new mineralisation in the immediate vicinity.

“The rig will then move to the Mt John prospect, which is located just 4km north of Boss Energy’s 10.7Mlb Jason’s uranium deposit, where we have another 30 holes planned to target new mineralisation.”

Mt John hosts ~15km of the highly endowed Yarramba Palaeochannel that also hosts both Boss’ Jason Deposit and their producing Honeymoon uranium mine.

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.