New ground set to help Koba look deeper into Yarramba’s uranium exploration potential
Special Report: Koba Resources has expanded its recently acquired Yarramba uranium project in South Australia following the grant of two new tenements covering 1,085km2 – a timely move given the energy metal’s resurgence.
The company had earlier this month reached a binding agreement with Havilah Resources (ASX:HAV) to acquire an 80% interest in the uranium rights of the 4,000km2 tenement package in South Australia’s world-class uranium jurisdiction.
Not only is Yarramba just 17km north of the Honeymoon uranium mine – where production recently resumed from resources totalling 71.6Mlb @ 620ppm U3O8 – it is also 120km southeast of the Beverley uranium operation, which boasts production of more than 40Mlb of U3O8 over 20 years.
But Koba Resources (ASX:KOB) isn’t just benefitting from proximity to existing producers, Yarramba also boasts an existing resource of 8.2Mt @ 260ppm U3O8 for 4.6Mlb at the Oban deposit that is hosted within flat-lying carbonaceous and pyritic sands of the Eyre Formation at depths between 80m and 90m.
Oban provides a strong foundation to build substantial resources on, given that it has the potential to host more thick, high-grade mineralisation.
There is also a pipeline of prospects to be explored given the very significant landholding available.
The newly acquired tenements add more exploration potential to KOB’s ground holding as they include prospective paleochannels which are a continuation of those hosting the Oban deposit.
Limited previous drilling also intersected paleochannel sands containing anomalous uranium, providing KOB with more opportunities to make further discoveries.
“Koba is pleased to have acquired an additional 1,085km2 of mineral tenure that covers the northern extensions of the paleochannels that we are targeting in our recently acquired Yarramba uranium project,” KOB managing director Ben Vallerine said.
“Anomalous uranium intersections within paleochannel sands have been returned from the very limited drilling in this newly acquired area. This provides Koba additional opportunities to discover paleochannel-hosted uranium mineralisation – all within a world-class, pro-uranium mining jurisdiction in South Australia.
“The Yarramba project now covers 5,100km2. It is centred on 4.6Mlb of U3O8 at the Oban deposit and provides a great foundation upon which a substantial resource base can be built.”
KOB intends to include data from the new northern tenements in its ongoing project-wide data review to prioritise targets and plan work programs across Yarramba.
The inaugural drill program, which will be the first uranium exploration undertaken on the project since 2012, is expected to start in Q2 2024.
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.