Koba secures 100% interest in new South Australia tenements

Koba Resources has obtained a 100% interest in two new tenements, expanding its uranium exploration territory in South Australia.

The newly acquired Northern Tenements, covering 1,085km², are an extension of prospective paleochannels north of the Yarramba Uranium Project.

The company’s total tenure now spans more than 5,100km² in a region that houses two of Australia’s three operating uranium mines.

With resources in the Frome Embayment exceeding 250 million pounds of U3O8 (triuranium octoxide), the majority of the mineralisation is found in paleochannel sands.

The South Australian Department for Energy and Mining has granted Koba two exploration licences (EL6973 and EL6974), which encompass the new tenements.

These licences provide Koba the right to all minerals under the Mining Act 1971.

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Previous drilling within the Northern Tenements intersected paleochannel sands in 21 out of 23 drill holes, with sand horizons ranging from seven to 80m in thickness.

Notably, 21 holes targeted uranium, with six reporting gamma radiation levels three to four times above background levels, indicating low-level uranium mineralisation.

The paleochannels in the Northern Tenements are a direct continuation of those in the Yarramba Project, which includes the Oban Deposit with 4.6 million pounds of uranium.

These channels are also similar to those hosting the mineralisation at the Honeymoon Project and the Beverley Uranium Operation.

Koba’s expanded Yarramba Project now features more than 250km of highly prospective paleochannels.

The company is currently reviewing data from the Northern Tenements to prioritise targets and plan work programmes across its extensive tenure.

It plans to commence its inaugural drilling programme in the second quarter of 2024, marking the first uranium exploration at the Yarramba Project since 2012.

Koba managing director and CEO Ben Vallerine said: “Koba is pleased to have acquired an additional 1,085km² of mineral tenure that covers the northern extensions of the paleochannels that we are targeting in our recently acquired Yarramba Uranium Project.

“Anomalous uranium intersections within paleochannel sands have been returned from the very limited drilling in this newly acquired area.

“This provides Koba additional opportunities to discover paleochannel-hosted uranium mineralisation – all within a world-class, pro-uranium mining jurisdiction in South Australia.”

This article was originally published by a www.mining-technology.com . Read the Original article here. .