Koba Resources (ASX:KOB) has staked 358km2 of mining claims, further expanding its Harrier Uranium Project in Newfoundland and Labrador, Canada, ahead of field work in June 2024.
The new mining claims cover strike extensions to the geological trends thought to host considerable mineralisation in Koba’s initial project area.
Managing Director and CEO Ben Vallerine says the company has now almost quadrupled its landholding to 489km2.
Harrier lies within a heavily under-explored uranium district that hosts several deposits, including 127.7 million pounds of triuranium octoxide at the Michelin project.
“With rock chip assays exceeding 1% U3O8 from nine different prospects within our initial project area, including assays up to 5.83% U3O8, there is enormous potential to discover large, high-grade uranium deposits within the Harrier Project,” Vallerine says.
Koba, which has a market capitalisation of $23.78 million, has engaged five geologists and prospectors to conduct an initial field work program at Harrier, which will include mapping, prospecting, and geochemical sampling.
The program aims to investigate the highest priority prospects and advance targets towards drill-readiness. Exploration will be carried out across 25 target areas at and around the nine prospects.
“While Koba’s focus remains on our Yarramba Uranium Project in South Australia, where drilling is set to commence during June, 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,” Vallerine adds.
Write to Aaliyah Rogan at Mining.com.au
Images: Koba Resources
