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Koba acquires high-grade uranium project in Canada

Published by , Editorial Assistant
Global Mining Review,

Koba Resources Limited has entered into a four-year option agreement to acquire a 100% interest in the Harrier Uranium Project in eastern Canada.

Amid strong uranium prices, this transaction follows the company’s acquisition of the advanced Yarramba Uranium Project in South Australia in January 2024.

The acquisition provides Koba with a low-cost opportunity to discover very high-grade uranium deposits in a heavily underexplored area, where widespread, high-grade uranium mineralisation has been identified previously.

Koba’s Managing Director and CEO, Mr Ben Vallerine, commented: “Koba’s focus remains firmly on our Yarramba Uranium Project in South Australia, where drilling is set to commence next month. But the opportunity to acquire the extremely prospective Harrier Uranium Project, for minimal cost, was too good to pass up. This additional project allows us to continue to leverage on our North American uranium experience and will increase our chance of making a significant uranium discovery in the near-term.

“The Harrier Project includes nine very exciting prospects. At each of these nine prospects rock chip assay results in excess of 1.0% U3O8 have been returned, including assays up to 5.83% U3O8. Incredibly, very little exploration, or drilling, has been undertaken previously.

“This is some of the highest-grade uranium mineralisation in the world. We know there are big deposits in this district, with the 128 million lb Michelin Project located only 50 km east of our project. So not only is there potential to discover very high-grade deposits, they could also be very large.”

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Canadian mining news