Koba’s drilling targets uranium resource growth at Yarramba

Koba Resources’ upcoming 11,000m drill program at its Yarramba uranium project will seek to grow resources by extending identified high-grade trends.

Koba Resources’ drilling will also look for new uranium mineralisation at the Mt John prospect. Pic: Getty Images

• Koba Resources will soon start a 11,000m drill program at its Yarramba uranium project

• Drilling will seek to grow existing resources by extending identified high-grade trends

• Holes will also be drilled to find new uranium mineralisation at the Mt John prospect

Special Report: Koba Resources is poised to launch a 11,000m drill program in early August to grow resources and find new uranium mineralisation at its Yarramba project after receiving all required permits.

Drilling will seek to increase the current resource of 8.2Mt at 260ppm U3O8 for 4.6Mlb contained U3O8 at the flagship Oban deposit in South Australia by extending identified high-grade trends.

Koba Resources (ASX:KOB) will also seek to discover new uranium mineralisation at the highly prospective Mt John prospect about 4km along strike from Boss Energy’s (ASX:BOE) 10.7Mlb Jason uranium deposit.

This is expected to be the first of many drill programs at Yarramba as the permits allow the company to drill up to 500 holes, which also grants it the flexibility to quickly follow up on significant results.

It is also progressing its review of other prospects within the >5000km2 project and has engaged a geophysical consultant.

Geophysics is a proven method of refining the location of the existing 250km of paleochannels and delineating new paleochannels, which have the potential to host sizeable high-grade uranium deposits.

KOB is developing a pipeline of prospects at various stages of development to drill in 2024 and beyond.

“The 4.6Mlb Oban deposit is an outstanding first up drill target, Koba has an opportunity to grow Oban into a significant deposit by extending the high-grade trends along strike,” managing director Ben Vallerine said.

“Drilling planned at the Mt John prospect has the potential for the discovery of high-grade uranium deposits within 4km of the 10.7Mlb Jason uranium deposit.

“This will be the first of many drilling programs at the Yarramba project as we look to aggressively explore over 5,000km2 of tenure and 250km of palaeochannels that are prospective for uranium within Australia’s premier uranium district.”

The Yarramba uranium project within the Frome uranium district in South Australia. Pic: Koba Resources

World-class uranium district

The Yarramaba project occupies more than 5,000km² of ground within the Frome Embayment, which also hosts the Beverley uranium operation that has produced >40Mlbs U3O8 during 20 years of continuous operation and BOE’s Honeymoon uranium operation, which recently restarted mining.

Honeymoon, which is immediately south of Yarramba and is being ramped up towards production of ~2.45Mlbs U3O8, is of particular interest as its proximity highlights the potential for KOB to grow resources given the similarity in geology.

BOE’s move to producer also demonstrates a clear pathway for junior explorers like KOB to progress from exploration to production.

This is coupled with uranium’s long-term fundamentals remaining positive.

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.