Koba’s Yarramba Discoveries Highlight Resource Expansion Risks and Rewards

Strong Start to Yarramba Drilling Program

Koba Resources Limited (ASX: KOB) has reported a robust December quarter for its Yarramba Uranium Project in South Australia, marking a significant milestone in its inaugural drilling campaign. The company completed 77 drill holes for 7,809 meters during the quarter, bringing the total to 101 holes and 10,305 meters since August 2024. This extensive drilling effort has confirmed the presence of high-grade uranium mineralisation in multiple new areas, notably the Berber and Chivas Prospects.

At the Berber Prospect, located just 1.5 kilometers south of the established Oban Deposit, high-grade mineralisation now extends over 700 meters of strike and remains open in all directions. Recent drill results include impressive intercepts such as 1.6 meters at 1,026 ppm eU3O8, including 1.0 meter at 1,413 ppm eU3O8. These findings build on historical drilling from the late 1990s and highlight the prospect’s underexplored potential, particularly to the east where no prior drilling has occurred.

Expanding the Footprint at Chivas and Mt John

The Chivas Prospect, situated approximately 700 meters east of the Oban Deposit, has also yielded encouraging results. Initial step-out drilling discovered significant uranium mineralisation, with follow-up holes confirming high-grade zones over a 1.1-kilometer area. Notable intercepts include 1.0 meter at 629 ppm eU3O8, including 0.5 meters at 1,028 ppm eU3O8. The mineralisation remains open and undrilled to the east, suggesting further upside potential.

Meanwhile, the Mt John Prospect, located 4 kilometers north of Boss Energy’s Jason Uranium Deposit, has begun to reveal its promise. The first phase of drilling targeted the MJ3B target area, one of eight defined targets along a 15-kilometer stretch of the Yarramba palaeochannel. Significant mineralisation was intersected, including 1.0 meter at 397 ppm eU3O8, indicating that Mt John hosts more uranium than previously delineated. A passive seismic survey completed over 140 square kilometers aims to refine future drill targets, with results expected in February 2025.

Strategic Outlook and Next Steps

Koba Resources is preparing to resume drilling in early February 2025, focusing initially on further testing the MJ3B target at Mt John and expanding to other high-priority targets. Following this, the company plans follow-up drilling at Berber, Chivas, and Oban to extend known high-grade mineralisation. The extensive tenure of 5,000 square kilometers, encompassing over 250 kilometers of palaeochannels, offers a fertile ground for ongoing discoveries.

Beyond Australia, Koba’s Harrier Uranium Project in Newfoundland and Labrador, Canada, continues to show exceptional promise with rock chip samples assaying up to 7.48% U3O8. Preparations are underway for a 2025 field program to build on the initial 2024 results.

Financially, Koba ended the quarter with approximately $2.77 million in cash, supporting its exploration activities and upcoming drilling campaigns. The company remains well-positioned to advance its uranium exploration strategy amid a global backdrop of increasing demand for clean energy minerals.