Key Highlights:
• Koba Resources (ASX:KOB) shares remained unchanged at AUD 0.036 on 1 May 2026.
• High-grade tin assays were returned from sampling at Stannary Hills.
• Permitting is nearing completion for the company’s maiden drilling program.
• Multiple high-priority tin and tungsten prospects are being prepared for drilling.
• Uranium drilling has been completed at the Yarramba Project with results pending.

Koba Resources (ASX:KOB) shares were trading at AUD 0.036 as of 1 May 2026 (12:15 pm GMT+10), showing no movement in the session as the company reported progress across its Queensland tin-tungsten Assets and South Australian uranium project. The update highlights ongoing exploration activity and preparations for an initial drilling campaign, with multiple prospects being advanced toward drill readiness.

The lack of share price movement suggests that investors are assessing exploration progress alongside upcoming catalysts such as drilling results and program commencement.

High-Grade Tin Results Support Exploration Focus

Koba reported extremely high-grade tin assays from rock chip sampling across several prospects at the Stannary Hills Project. These results highlight the presence of significant mineralisation at surface and reinforce the exploration potential of the project area.

The sampling outcomes build on historical production data and indicate that high-grade zones may extend beyond previously mined areas. The presence of such grades is often used to guide drill targeting and prioritisation of exploration efforts.

Drill Targets Defined Across Key Prospects

The company is advancing four high-priority prospects toward its maiden drilling program. These include Stannex, Mt Gilmore, Kitchener, and Jiminy, each with distinct geological characteristics and historical context.

Stannex is defined by a large geochemical anomaly with limited historical drilling, while Mt Gilmore has a history of high-grade production but remains underexplored at depth and along strike. Kitchener and Jiminy have also demonstrated high-grade mineralisation through recent sampling and historical activity.

These targets provide a pipeline of exploration opportunities, with drilling expected to test both extensions of known mineralisation and new zones.

Permitting Near Completion

Koba is nearing completion of the permitting and approval processes required to commence its maiden drilling program. This milestone is expected to enable the company to initiate drilling activities in the coming months.

In parallel, field work programs have resumed following seasonal conditions, including sampling and site preparation. A LIDAR survey has also been completed to assist with drill planning and target definition.

The progression of permitting represents a key step in transitioning from exploration to active drilling.

Broader Exploration Pipeline Expands

Beyond the initial drill targets, Koba is working to advance additional tin and tungsten prospects toward drill readiness. This broader pipeline reflects a systematic approach to exploration across its project portfolio.

The company’s projects are located within a historically productive tin district, where limited modern exploration has been conducted in recent decades. This context provides a framework for ongoing exploration activity.

Uranium Project Progress

At the Yarramba Uranium Project in South Australia, Koba has completed a drilling program aimed at following up previously identified mineralisation. The program targeted areas with elevated uranium concentrations identified in earlier work.

Results from this drilling campaign are expected in early May 2026 and may provide further insight into the scale and continuity of mineralisation at the project.

About the Company

Koba Resources (ASX:KOB) is an exploration company focused on tin, tungsten, and uranium projects in Australia, with Assets in Queensland and South Australia.

Industry Trends and Market Context

Tin and tungsten are critical minerals with applications in electronics, energy systems, and industrial processes. Demand trends are influenced by technological development and Supply constraints, particularly for high-grade deposits.

Uranium markets are shaped by energy policy and nuclear power Demand, with exploration activity often linked to long-term Supply expectations. Companies with exposure to multiple commodities may benefit from diversified Demand drivers.

Investment Risks and Challenges

Exploration projects carry uncertainty regarding the continuity and economic viability of mineralisation. While high-grade surface results are encouraging, drilling is required to confirm resource potential.

Permitting timelines and execution of drilling programs may affect progress, while Commodity price fluctuations can influence project Economics. The early-stage nature of exploration also introduces funding and operational risks.

Bullish vs Bearish Perspectives

From a bullish perspective, high-grade sampling results and multiple drill-ready targets may support exploration success. The combination of tin, tungsten, and uranium Assets provides exposure to different Commodity markets.

From a bearish standpoint, the projects remain at an early stage, with outcomes dependent on drilling results. The absence of immediate share price movement may reflect cautious sentiment as investors await further data.