Uranium heats up as Koba drills deep into South Australia's palaeochannels and strikes high-grade hits near Boss Energy’s backyard

Koba Resources (ASX:KOB) hit the RIU Sydney Resources Round-up in May with a sharp message: uranium might be out of the headlines, but in the Frome Embayment of South Australia, it’s very much alive—and Koba is drilling hard to prove it.

In a packed presentation, managing director Ben Vallerine laid out a technical case for why Koba’s 5,000-square-kilometre Yarramba Project could be next in line for production alongside nearby ISR operators Boss Energy and Beverley. “We’ve already made three high-grade discoveries,” Ben said, “and we’ve only scratched the surface of what’s a very large system.”

Targeting the Channel: Three New Zones

The focus is the Yarramba palaeochannel system—250 kilometres of interpreted flow paths where uranium is known to accumulate. Koba’s first-pass drilling returned ISR-grade results across three prospects: Everest, Berber, and Chivas.

At Everest, 22 broadly spaced holes uncovered a 4-kilometre trend of high-grade hits—multiple intercepts over 1,000 ppm eU₃O₈. “The continuity is what excites us,” Ben told the room. “You’re seeing consistent mineralisation at the same stratigraphic level across wide step-outs. That gives us confidence there’s a coherent ore zone to chase down”.

Berber, located 1.5 kilometres south of the historic Oban deposit, yielded 1.6 metres at 1,026 ppm eU₃O₈, while Chivas, 700 metres east of Oban, delivered 0.5 metres at 1,058 ppm. In all three zones, mineralisation remains open.

ISR-Ready Geology and Nearby Infrastructure

Koba’s pitch to investors is underpinned by practicality: everything being drilled sits in ground suited to ISR methods—low-impact, borehole mining that’s already proven next door. “If we find something economic, we can truck resin-loaded uranium solution to Boss’s plant just down the road,” said Ben. “It’s modular mining—ISR lets you move quickly and keep capex tight.”

Ben brings pedigree. As former exploration manager at Black Range Minerals, he assembled a 90-million-pound uranium portfolio during the last boom. He knows ISR-style geology well—both from South Australia and from six years drilling equivalent systems in the western US.

Drill-First Philosophy

While others wait for sentiment, Koba is drilling. Over 12,800 metres were completed in the past year, and the company has cleared permits for a major Phase 2 campaign kicking off in Q3. Targets include:

• Infill and extensional drilling at Everest and Berber

• Testing a 1.5 km gap between Berber and Oban

• Following up the Chivas intercepts

• Stepping north at Mount John

• New conceptual targets along regional structures

Passive seismic surveys—rare in Australian uranium—have also been trialled to refine future targeting.

What's Driving the Uranium Case?

While uranium’s spot price has dipped, Ben sees upside. “The long-term price sits around US$80/lb and that’s where most of the market trades,” he said. “The spot has overcorrected. That gap will close—and when it does, developers like us are well positioned”.

With $1.3 million cash in the bank and a market cap of just over $6 million, Koba is aiming for maximum geological leverage. As Ben put it: “We’re not sitting on our hands. We’ve had success early, and now we’re going harder.”

Bottom Line for Rock Wranglers

For drillers, geotechs and METS specialists watching the uranium space, Koba’s campaign ticks all the right boxes: high-grade hits, ISR compatibility, expandable systems, and existing infrastructure. It’s also a rare junior taking a genuine greenfields discovery and pushing it forward at pace.

Yarramba may still be early-stage, but the technical ingredients are all there—and the team’s pushing to convert hits into resources, and resources into a seat at the production table.