Koba (ASX:KOB) expands uranium landholdings in eastern Canada

Koba (ASX:KOB) expands uranium landholdings in eastern Canada

May 22, 2024 Off By Jack Baker

Koba Resources has staked a fully owned 385 square kilometres of adjacent mining claims shortly after acquiring its Harrier uranium project, now standing at 489km2 across Canada’s Labrador and Newfoundland provinces.

The new territory covers strike extensions to Harrier and Koba sees a still-underexplored stretch of land in a world-class uranium province and the high potential to discover more of the region’s very high-grade deposits.

Proof of prospectivity lies in 127.7 million pounds of uranium hosted 50 kilometres away at the Michelin Uranium Project and multiple prospects with high-grade rock assays inside Koba’s own border.

Only three of the nine prospects exceeding 1 per cent triuranium octoxide and going up to 5.83% have been drilled, with no yellowcake-targeted drilling ever completed within the new claims.

Koba’s Managing Director and Chief Executive Ben Vallerine said the company was very pleased with the expansion, and there was enormous potential to discover large high-grade deposits.

“We have now staked new claims to cover the strike extensions of the geological trends that host these high-priority prospects,” Vallerine said.

“This project is located only 50 kilometres west of one of the largest uranium resources in North America – the 127.7-million-pound Michelin deposit, so with high grades and large deposits, this area is exceptionally prospective.”

Vallerine added that while its focus remains on June drilling at its South Australian Yarramba uranium asset, its new acquisition would not be collecting dust.

“We will also commence an initial reconnaissance exploration program at the Harrier project in the coming weeks, to begin evaluating our higher priority prospects so we can start advancing these to drill-ready stage,” he said.

Koba has engaged 5 geologists and prospectors for initial fieldwork set to begin alongside South Australian drilling next month to map, prospect, and sample the highest priority prospects.

With 4900km2 of uranium territory in South Australian lands hosting more world-class uranium deposits, Koba has now amassed large-scale landholdings across two eminent and US-friendly uranium districts, making its strategy clear as the nuclear revival sparks new demand for mining.

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