Koba Resources has received all the permits required to commence drilling at its Yarramba uranium project in South Australia.
The company plans to start an 11,000m drilling program in early August, which will be the first exploration at the Yarramba project in over ten years.
Koba will target resource growth at the site’s 4.6 million-pound (Mlb) Oban uranium deposit, as well as the discovery of additional resources at the highly prospective Mount John prospect.
Mount John is located just 17km north of Boss Energy’s Honeymoon uranium operation, where production recently commenced.
Boss expects a production of at least 850,000lbs of uranium from its operation over the next financial year, marking the region as a highly prospective uranium corridor.
Koba’s recently obtained permits allow the company to drill up to 500 holes, giving it the flexibility to quickly follow-up any significant results returned during this initial program.
“We are very pleased to commence drilling at our flagship Yarramba uranium project in early August,” Koba managing director and chief executive officer Ben Vallerine said.
“The 4.6Mlb Oban deposit is an outstanding first up drill target, Koba has an opportunity to grow Oban into a significant deposit by extending the high-grade trends along strike.
“This will be the first of many drilling programs at the Yarramba project as we look to aggressively explore over 5000 square kilometres of tenure and 250km of palaeochannels that are prospective for uranium within Australia’s premier uranium district.”
Koba is also progressing its review of other prospects within Yarramba and has engaged a geophysical consultant.
The aim is to develop a pipeline of prospects at various stages of development to drill in 2024 and beyond.
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