Koba Resources has launched a 2,500m drilling campaign at its Everest Prospect within the Yarramba Uranium Project, aiming to expand on last year’s high-grade uranium discoveries across a 4km strike. Results are anticipated in May as the company targets thicker, higher-grade zones amid a strong uranium market.
- 2,500m drilling underway at Everest Prospect following 2025 high-grade intercepts
- Multiple uranium intercepts exceeded 1,000ppm eU3O8 over 4km strike length
- Yarramba Project hosts over 250km of under-explored uranium-bearing paleochannels
- Additional high-grade prospects identified: Oban, Berber, Delord, and Chivas
- Uranium spot price remains above US$80/lb, supporting exploration momentum
Follow-Up Drilling Targets Scale and Grade at Everest
Koba Resources (ASX:KOB) has kicked off a 2,500-metre drilling program at its Everest Prospect, part of the Yarramba Uranium Project in South Australia. This campaign is the first substantial follow-up since last year’s initial broad-spaced drilling revealed multiple high-grade uranium intercepts along a 4-kilometre mineralised trend. Notably, intercepts included 1.0 metre at 558ppm eU3O8 with a high-grade core of 0.4 metres at 1,001ppm, and 2.1 metres at 330ppm including 0.3 metres at 1,012ppm, underscoring the prospect’s compelling grade continuity.
The current drilling aims to test both infill and extensional targets, focusing on delineating the scale potential of mineralisation and identifying thicker, higher-grade zones. Koba expects assay results in May, which will be pivotal in defining the resource’s future trajectory.
Yarramba’s Strategic Location and Expanding Prospect Portfolio
Everest lies within the fertile Yarramba palaeochannel, a uranium-rich corridor that hosts over 50 million pounds of U3O8 within a 35-kilometre stretch south of the prospect. The project is strategically positioned just 4 kilometres north of the 12 million-pound Jason Deposit and 17 kilometres north of the Honeymoon Uranium Mine, both significant uranium assets in South Australia.
Since acquiring Yarramba in early 2024, Koba has uncovered four high-grade prospects, Everest, Berber, Delord, and Chivas, through 141 drill holes totaling 14,600 metres. The Oban Deposit, a more advanced target within the project, recently yielded a thick high-grade intersection of 2.1 metres at 2,236ppm eU3O8. Nearby, Berber has delivered high-grade mineralisation over 700 metres of strike, including 1.6 metres at 1,026ppm, while Delord and Chivas have confirmed additional high-grade zones with mineralisation remaining open for expansion.
The company’s aggressive exploration is supported by a substantial landholding of over 5,000 square kilometres encompassing more than 250 kilometres of uranium-bearing palaeochannels. This extensive tenure, combined with limited historical exploration, offers significant upside potential for resource growth and new discoveries.
Strong Uranium Market Reinforces Exploration Appeal
The renewed drilling activity at Everest follows Koba’s earlier plans to recommence uranium exploration in early 2026, as outlined in its recent capital raise and project updates. The robust uranium spot price, holding above US$80 per pound throughout 2026, adds a favorable backdrop, reflecting growing global demand for nuclear energy as a clean and secure power source. This market environment enhances the strategic value of Yarramba’s uranium assets and underpins ongoing exploration investments.
With results pending, the market will be watching how Koba leverages its early high-grade hits to build a meaningful resource base. The company’s multi-pronged approach across several advanced prospects positions it well to capitalise on both resource expansion and new discoveries within this prolific uranium district.
Bottom Line?
May’s drilling results at Everest will be a crucial test of Yarramba’s potential to scale high-grade uranium resources amid a buoyant market.
Questions in the middle?
- Will the current drilling confirm thicker, higher-grade zones at Everest to justify resource upgrades?
- How might expanding mineralisation at Berber, Delord, and Chivas influence Yarramba’s overall resource profile?
- What impact could sustained uranium prices above US$80/lb have on Koba’s development timeline and funding strategies?