Koba Resources Shares Phase 1 Uranium Drill Results from Mount John Prospect

Exploration company Koba Resources (ASX:KOB) has shared results from Phase 1 drilling at the Mount John prospect, located at its flagship South Australia-based Yarramba uranium project.

In a Thursday (January 23) press release, the company said it has intersected "significant mineralisation," and believes it has confirmed the potential to make discoveries at Yarramba.

Notable results from the 11 hole program include:

• 1 metre at 397 parts per million (ppm) eU3O8 from 104.4 metres
• 0.7 metres at 282 ppm eU3O8 from 98.3 metres
• 0.8 metres at 246 ppm eU3O8 from 98.7 metres

“This recent phase of drilling comprised an initial test to explore for extensions of mineralisation at just one of eight previously defined targets at the Mt John Prospect, all of which are located within a 15 kilometer-long mineralised stretch of the Yarramba Palaeochannel,” said Koba Managing Director and CEO Ben Vallerine.

According to Koba, Yarramba is one of the most prospective and underexplored uranium projects in the Frome embayment, a world-class uranium district that is home to two currently producing uranium mines.

The company obtained permits and clearances to initiate drilling at Yarramba last July and began drilling in August.

It entered agreements to acquire up to an 80 percent interest in the project in January 2024. Part of the requirements include spending AU$6 million on exploration and development within four years.

Koba said that a next phase of drilling is being planned, with 20 further drill holes anticipated.

“(We will) commence testing several of the other seven targets within the greater Mt John Prospect as well as drilling more holes to continue to test for extensions of the mineralisation at the MJ3B target," said Vallerine. “We will continue to explore for thicker and higher-grade zones, and we are excited to be resuming drilling at Mt John in early February.”

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Securities Disclosure: I, Gabrielle de la Cruz, hold no direct investment interest in any company mentioned in this article.