Koba Resources Limited (ASX:KOB) has significantly increased its battery metals portfolio via the acquisition of two additional high-quality lithium pegmatite projects in Canada:
(i) The JB1 Lithium Project in Quebec; and
(ii) The Davidson Lithium Project in Ontario.
Located in the world-class James Bay lithium province, the JB1 Lithium Project is only
- 12km west of the Rose Lithium Deposit that hosts resources of 34.2Mt at 0.9% Li2O; and
- 18km east of the Pontax Lithium Deposit where ASX-listed Cygnus Gold Limited is currently undertaking a resource definition drilling program.
The Davidson Lithium Project is adjacent to Koba’s Whitlock Lithium Project which lies immediately along strike from the Tanco Lithium-Caesium-Tantalum Pegmatite Mine – Canada’s only operating lithium mine. The acquisition expands the company’s presence in this world-class lithium district.
Koba has also entered into an option agreement to acquire a prospective lithium project in the Pilbara region of Western Australia (Python Lithium Project).
“It is very exciting to have acquired new projects in two of the world’s best lithium provinces, in Canada,” Managing Director and CEO, Ben Vallerine, said.
“The James Bay area is emerging as a world-class lithium district. Multiple large lithium resources have been delineated in close proximity to the vompany’s new JB1 Lithium Project.
“Two ASX-listed companies, Patriot Battery Metals and Winsome Resources, have had some very promising exploration successes in this region recently and our new projects allow us the opportunity to replicate that success.
“And our new Davidson Lithium Project is strategically located along strike from our Whitlock Lithium Project. It is a logical addition to our landholding with operational synergies and most importantly, it provides us additional opportunities to discover lithium bearing pegmatites along strike from the world-class Tanco Mine – Canada’s only operating lithium mine.”
Forward Work Plan
The company will implement concerted work programs at each of the JB1, Whitlock, Davidson and Python Lithium projects to rapidly bring targets to drill-ready stage by mid-2023. There are significant operational synergies between the Whitlock and Davidson projects due to their proximity to each other.
Work programmes will include:
• Completing the compilation of all previous exploration data;
• Reviewing available aerial and geophysics imagery so field programmes can target high-
priority areas;
• Detailed field mapping and systematic geochemical sampling, including the investigation of known pegmatites and exploration for additional pegmatites to generate drill targets; and
• Commencement of drilling to test targets in the second half of 2023.
For further information please visit: https://kobaresources.com/
