Koba Resources (ASX:KOB) has staked mining claims covering some 145km-square at its new Whitlock Lithium Project in southern Manitoba, a province in Canada.
The company’s share price has skyrocketed almost 141% to $0.265 as of 7.30am AWST.
The company has a geological team in place that is making final preparations to undertake an initial field program that is set to begin in the coming days. They will investigate areas of key initial interest, including pegmatites mapped within the project area.
Koba reports that future work programs will include the acquisition and detailed review of high-quality aerial imagery; a detailed review of all existing data and reprocessing of any available geophysical data; and detailed field mapping and geochemical sampling including the investigation of known pegmatites to generate drill targets for testing.
The Whitlock Project is located immediately along strike from the Tanco Mine, which is Canada’s only operating lithium mine. Lithium reserves at the project comprise 7.3Mt @ 2.76% Li2O with other lithium resources in close proximity including 10.2Mt @ 1.4% Li2O; 3.6Mt @ 1.28% Li2O; and 1.1Mt @ 1.51% Li2O.
The company reports extensive pegmatites have been mapped within the Whitlock Project and have been intersected in limited previous drilling within the project.
Addressing the results, Koba Managing Director and CEO Ben Vallerine said: “We are excited to have staked the Whitlock Lithium Project adjacent to the world-class Tanco Lithium-Caesium-Tantalum pegmatite mine – Canada’s only operating lithium mine. The addition of a lithium project to our portfolio of high-grade cobalt assets is a logical progression as we continue to focus on battery metals to support the EV revolution and the electrification of the global economy.
“The extensive pegmatites mapped at surface within our Whitlock Project are very promising”
The extensive pegmatites mapped at surface within our Whitlock Project are very promising. A geological team will be on the ground in the coming days to conduct a field program, to investigate and commence sampling outcropping pegmatites.”
Koba’s new Whitlock Lithium Project is located in southern Manitoba, Canada, some 120km northeast of Winnipeg, the provincial capital. It comprises 2 claim blocks that are both located proximal to, and along strike from, the Tanco LCT Pegmatite Mine.
The prospective lithologies that host the Tanco-pegmatite extend onto Koba’s claims. At Tanco, the host pegmatite does not outcrop, therefore mapped pegmatites at surface are not a requirement for significant LCT-type mineralisation.
Koba reports, notwithstanding this, extensive pegmatites have been mapped within the Whitlock Project. In addition, multiple pegmatites have been intersected in the limited previous drilling undertaken within the boundaries of the Whitlock Project. None of these were assayed for lithium.
The pegmatites within the Whitlock Project are highly prospective for LCT-type mineralisation and there is also potential to discover buried pegmatites, similar to the Tanco pegmatite.
The Whitlock Project is located in an area of Manitoba that does not allow online staking, therefore physical, on-the-ground claim staking is required to secure a mining claim. Therefore, Koba has been able to opportunistically stake a substantial claim package in a ‘highly prospective’ district.
Koba’s activities at the Whitlock Project are consistent with the previously stated intention to evaluate and acquire additional assets in the battery metals sector that can add significant value to the company.
Exploration has previously been undertaken within the area of the Whitlock Project for gold, copper, nickel, PGEs, chrome, uranium, and lithium-caesium-tantalum (LCT) type pegmatites. Only 81 holes have been drilled previously within the 145km2 project area, for about 8,000m. As such, the project is significantly under-explored, Koba notes.
Koba Resources is an Australian resources company exploring a portfolio of high-grade cobalt projects in the USA to support the electric vehicle revolution and the world’s path to net zero emissions.
Koba owns a 100% interest in four highly prospective assets in one of the western world’s premier cobalt districts – the Idaho Cobalt Belt. Koba is exploring the high-grade Blackpine, Colson, Panther, and Elkhorn Cobalt-Copper Projects, where cobalt is the metal of primary economic importance. The projects are all in close proximity to Glencore’s historical Blackbird Mine that produced about 5Mt at 0.6% Co and 1.5% Cu intermittently between 1938 and 1969, and Jervois Global’s Idaho Cobalt Operation that is scheduled for first production later this year.
Write to Adam Orlando at Mining.com.au
Images: Koba Resources Ltd