Koba Resources' New Uranium Discoveries at Yarramba Project
KOB (KOB) Share Update December 2024 Wednesday 11th
Koba Resources Unveils Promising High-Grade Uranium Discoveries in South Australia
Koba Resources Limited has announced the discovery of high-grade uranium mineralisation at the Berber and Chivas Prospects within the Yarramba Uranium Project in South Australia, highlighting the significant potential for resource expansion.
Instant Summary:
- High-grade uranium mineralisation discovered at Berber and Chivas Prospects.
- Berber Prospect mineralisation extends over 700m and remains open.
- Chivas Prospect shows promising results with mineralisation open to the east.
- Drilling continues with plans for further exploration in early 2025.
Exploration Success at Yarramba
Koba Resources Limited (ASX:KOB) has reported significant progress in its exploration efforts at the Yarramba Uranium Project in South Australia. The company has discovered high-grade uranium mineralisation at two new prospects, Berber and Chivas, demonstrating strong potential for resource expansion.
The Berber Prospect, located approximately 1.5km south of the Oban Deposit, has shown mineralisation extending over 700 meters of strike and remains open in all directions. Recent drilling results include 1.6m at 1,026ppm eU3O8, with particularly high grades of 1.0m at 1,413ppm eU3O8.
Chivas Prospect Findings
At the Chivas Prospect, situated 700m east of the Oban Deposit, Koba has identified high-grade mineralisation that remains completely open to the east. Notable results include 1.0m at 629ppm eU3O8, with a peak grade of 0.5m at 1,028ppm eU3O8.
The company's initial exploratory drilling has been promising, with the potential for further high-grade discoveries across its extensive 5,000km2 Yarramba Project.
Future Exploration Plans
Drilling is set to continue, with the drill rig currently mobilizing to the Mt John Prospect, another high-priority target. Koba plans to resume drilling at both Berber and Chivas in early 2025, aiming to further delineate the mineralisation and explore additional extensions.
An inaugural passive seismic survey is also underway at the Mt John Prospect to refine drill targets by mapping the extents of the Yarramba Palaeochannel.
The discovery of high-grade uranium mineralisation at the Berber and Chivas Prospects is a significant development for Koba Resources. This could enhance the company's resource base and increase investor interest. The ongoing drilling and exploration activities indicate a strong potential for further discoveries, which may positively impact the company's stock value.
Investor Reaction:
Analysts are likely to view these discoveries as a positive indicator of Koba's potential to expand its resource base. The high-grade results and the vast unexplored areas within the Yarramba Project suggest substantial upside potential.
Conclusion:
Investors should keep a close eye on Koba Resources' ongoing exploration activities and future announcements. The company's strategic approach to expanding its resource base could offer significant opportunities for growth and value creation.