Koba Resources Unveils New Uranium Prospect and Acquires Historic Tin-Tungsten Mines

Strategic Acquisition of Tin-Tungsten Projects

Koba Resources Limited (ASX – KOB) has made a decisive move to bolster its portfolio with the acquisition of the Stannary Hills and Mt Garnet tin-tungsten projects in Queensland. These assets, located approximately 100km southwest of Cairns, encompass a rich historical mining region known as the Herberton Tin Field, which produced over 75,000 tonnes of tin metal between 1880 and 2012. The acquisition includes numerous historic mines, with a combined production of around 120,000 tonnes of ore averaging 2.3% tin grade along a 1.3km strike.

Despite the extensive historic mining, significant unmined mineralisation remains open at depth and along strike, presenting compelling drill-ready targets. Noteworthy drill intercepts include intervals such as 9.8m at 1.3% tin and 54m at 0.45% tin, highlighting both high-grade and bulk-tonnage potential. The Mt Garnet project, covering 353km, is notably underexplored, with previous drilling limited to just 64 holes, underscoring the opportunity for new discoveries.

New Uranium Prospect Emerges at Yarramba

In South Australia, Koba has unveiled a new high-grade uranium prospect at the Yarramba Uranium Project, specifically the Delord Prospect. This discovery follows an 18-hole step-out drilling campaign that confirmed significant uranium mineralisation with intercepts exceeding 1,000ppm eU3O8. The drill results reveal a classic roll-front signature, which is crucial for targeting further mineralisation along the 1.5km corridor between the Oban Deposit and the Berber Prospect.

The Yarramba project spans 5,000 square kilometres and hosts over 250 kilometres of interpreted palaeochannels, many of which remain underexplored. The recent drilling success reinforces the project's potential to yield additional high-grade uranium mineralisation, with follow-up drilling planned for early 2026 to test extensions and infill targets.

Capital Raising to Accelerate Exploration

To support its expanded exploration agenda, Koba secured firm commitments for a $4.35 million placement at $0.05 per share, accompanied by free attaching options exercisable at $0.08. This capital injection is timely, enabling the company to advance geological mapping, sampling, and drilling programs across its Queensland and South Australian projects. The placement is subject to shareholder approval at the upcoming Annual General Meeting scheduled for late November 2025.

At the end of the September quarter, Koba reported a cash position of approximately $1.4 million, supplemented by listed investments valued at nearly $600,000. The company’s disciplined expenditure during the quarter focused on exploration activities, acquisition deposits, and operational costs, positioning it well for the next phase of growth.

Looking Ahead

Koba’s forward work plan includes targeted drilling to test high-priority tin-tungsten targets along the Kitchener and Atlanta trends at Stannary Hills, as well as underexplored areas at Mt Garnet. Concurrently, the company aims to expand its understanding of uranium mineralisation controls at Yarramba, leveraging recent drill data to refine exploration models. The combination of strategic acquisitions, promising new discoveries, and a solid funding base sets the stage for Koba to potentially unlock substantial value in critical mineral markets.