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Highlights
- Koba Resources (ASX:KOB) announces a significant high-grade discovery at the Everest prospect in South Australia.
- Remarkable drilling results show multiple intercepts exceeding 1000ppm uranium over a 4 km stretch.
- Koba is set to advance exploration activities with further drilling planned at several high-priority targets.
Koba Resources has made substantial progress at its Yarramba uranium project, especially with the new high-grade discovery at the Everest prospect. This prospect, part of the richly endowed Yarramba Palaeochannel, has shown promising results with multiple intercepts surpassing 1000ppm over a 4 km length during the maiden drilling program. Situated adjacent to notable sites like Boss Energy’s 10.7Mlb Jason’s Deposit and Honeymoon uranium mine, Everest appears to be a highly prospective location.
Drilling Results
The drilling results from Everest are noteworthy, indicating high-grade uranium mineralisation. Key findings include:
- 1.0m at 558ppm from 85.9m, including 0.4m at 1001ppm
- 2.1m at 330ppm from 95.7m, including 0.3m at 1012ppm
- 0.8m at 558ppm from 94.7m, including 0.3m at 1037ppm
- 0.9m at 535ppm from 90.1m
These results underscore the high potential of the Everest prospect, with mineralisation remaining open along the strike and across the trend.
Future Exploration Plans
Building on its early exploration success, Koba Resources is poised to continue its exploratory efforts across more than 250 km of previously untested paleochannels. With additional permits being sought, the company aims to conduct further drilling not only at Everest but also at other promising sites such as Berber and Chivas, where significant finds have already been reported.
CEO Insights
Koba Resources' managing director and CEO, Ben Vallerine, expressed satisfaction with the progress, highlighting the "third significant high-grade uranium discovery" during their inaugural drilling program at Yarramba. He emphasized the importance of delineating higher-grade zones within the mineralisation to fully exploit the resource potential.
As Koba Resources pushes forward with its exploration initiatives, the Yarramba project holds significant promise given its proximity to prolific deposits and the recent high-grade discoveries. The ongoing and planned drill programs aim to unearth more about the spatial extent and quality of the uranium resources, keeping industry stakeholders attentive to further developments.
