Koba Resources Ltd (ASX:KOB) has identified high-grade uranium mineralisation at a new prospect on its Yarramba project in South Australia, with drilling revealing multiple intercepts grading more than 1000 parts per million (ppm) eU3O8 (equivalent uranium) across four kilometres of strike.

The discovery was made through an initial program of broad-spaced drilling (along lines spaced between 400 and 1000 metres) at the newly dubbed “Everest” prospect.

This new “Everest” propset lies immediately north of Boss Energy’s Jason deposit (which contains 10.7M pounds) and the Honeymoon uranium mine.

Intercepts yielded from early work have included 1.0 metre (m) at 558ppm eU3O8 from 85.9m, including 0.4m at 1,001ppm eU3O8 and 2.1m at 330ppm eU3O8 from 95.7m, including 0.3m at 1,012ppm eU3O8.

The mineralisation here remains open along strike and across trend, Koba has said.

Managing director and CEO Ben Vallerine went on to add this discovery – which marks the third since Koba began step out drilling work in October 2024 – was notable for its high-grade mineralisation.

“We are very pleased to have made a third significant high-grade uranium discovery during our inaugural drilling program at our flagship Yarramba Uranium Project,” he said. “Our most recent discovery has resulted in the delineation of a 4km trend that includes multiple drill intercepts grading more than 1,000ppm eU3O8.”

Mr Vallerine explained: “The high-grade mineralisation at the Everest Prospect was discovered during initial broadly spaced drilling that targeted an undrilled part of the Yarramba Palaeochannel.”

Further drilling will now be undertaken at the Everest Prospect to assess the extent of mineralisation, in particular identifying its thickest and highest-grade zones.

KOB shares last traded at 6 cents – a 2.44% fall since market open.

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