Koba to Drill 3,000m at Yarramba After High-Grade Uranium Hits Over 4km

Building on Early Success at Yarramba

Koba Resources Limited (ASX – KOB) is gearing up for a significant follow-up drilling program at its flagship Yarramba Uranium Project in South Australia. After a successful maiden drilling campaign earlier this year that uncovered multiple high-grade uranium mineralisation zones, the company has now secured all necessary permits and clearances to proceed with an initial 3,000-metre drilling program scheduled to commence in early September 2025.

The upcoming drilling will focus on extending the mineralised zones discovered at the Everest, Berber, and Chivas prospects. These sites have already demonstrated promising results, with the Everest Prospect revealing a continuous 4-kilometre strike of uranium mineralisation, including multiple intercepts exceeding 1,000 parts per million equivalent uranium oxide (eU3O8). Notably, intercepts such as 0.4 metres at 1,001ppm and 0.3 metres at 1,037ppm eU3O8 highlight the high-grade nature of the deposit.

Strategic Capital Raising and Asset Rationalisation

To support this next phase of exploration, Koba completed a placement raising $600,000 and initiated a non-renounceable rights issue, successfully raising additional funds to bolster its cash position. As of 30 June 2025, the company held approximately $1.13 million in cash, positioning it to fund the upcoming drilling activities and ongoing exploration efforts.

In parallel with its South Australian focus, Koba divested its Harrier Uranium Project in Newfoundland and Labrador, Canada, to Azincourt Energy Corp. This strategic move allows Koba to concentrate resources on Yarramba while maintaining exposure to Harrier’s future upside through royalty interests and shareholdings in Azincourt.

Exploration Potential in a World-Class Uranium District

Yarramba covers an extensive 5,000 square kilometres, including over 250 kilometres of underexplored palaeochannels in a region known for uranium production. The project’s proximity to established operations such as Boss Energy’s Honeymoon Mine, located just 17 kilometres south of the Everest Prospect, underscores the district’s potential. The upcoming drilling aims to delineate thicker and higher-grade mineralisation zones, potentially enhancing the project’s resource base and attractiveness.

Beyond the three main prospects, Koba has identified additional targets within the Yarramba palaeochannel system, including the sparsely drilled corridor between Berber and the Oban Deposit and new targets north of Mt John. These areas remain largely untested and could yield further discoveries as exploration advances.

Looking Ahead

With drilling set to begin shortly, the market will be watching closely for assay results that could validate the early high-grade findings and support resource expansion. The company’s ability to maintain funding momentum through equity raises will be critical to sustaining exploration momentum in this competitive uranium sector.