Koba's maiden drilling program yields high-grade uranium mineralisation

Koba Resources Limited (ASX:KOB) has completed the first 9 holes of a ~100-hole drilling program at its Yarramba Uranium Project in South Australia. The drilling has intersected shallow, high-grade uranium mineralisation in multiple holes, with significant results including 3.9m @ 805 ppm eU3O8 from 87.0m. The company plans to further expand the resource base by drilling 70 holes for ~7,500m at the Oban Deposit and 30 holes for ~3,000m at the Mt John Prospect.

Executive commentary on the drilling program

We are pleased to report strong initial results from our maiden drilling program at the Yarramba Uranium Project in South Australia, with the first holes returning shallow, high-grade intersections, including 3.9m at 805ppm eU3O8. Our drilling is currently focusing on the Oban Uranium Deposit, where another 70 holes are planned with the aim of growing the JORC 2004 resource by delineating high-grade trends both within and beyond the known resource area. The rig will then move to the Mt John Prospect, which is located just 4km north of Boss Energy's 10.7MIb Jason Uranium Deposit, where we have another 30 holes planned to target new mineralisation. Our initial results are highly encouraging and demonstrate the potential for the discovery of shallow, thick, high-grade mineralisation at the Oban Deposit. We look forward to continuing to regularly report results as we advance this extensive initial drilling campaign over the coming months.

Summary of the announcement and outlook

Koba Resources Limited (ASX:KOB) has reported significant high-grade uranium mineralisation from the first 9 drill holes at the Yarramba Uranium Project in South Australia. The company plans to expand the resource base by drilling a further 70 holes for approximately 7,500m at the Oban Deposit and 30 holes for approximately 3,000m at the Mt John Prospect. The initial results are encouraging, indicating the potential for the discovery of shallow, thick, high-grade mineralisation. Koba aims to grow the JORC 2004 resource by delineating high-grade trends and targets new mineralisation. The drilling program encountered a mechanical issue, temporarily suspending drilling, but is expected to resume within the next two weeks with a new drill rig. The company remains optimistic about the potential for further positive results as the drilling campaign progresses.