Koba Resources Limited announced that strong induced polarisation (IP) geophysical anomalies have been delineated over 4 km of strike at Koba's flagship Blackpine Cobalt-Copper Project in Idaho, USA. A number of high priority targets have been identified where IP anomalism corresponds with strong cobalt-copper soil geochemical anomalies. During September the Company will commence testing shallow IP anomalies at the Swift Prospect and follow up on high-grade mineralisation intersected in previous drilling.

Applications for drill permits to test other recently delineated IP targets have been submitted. New IP Anomalies: The recent IP survey successfully delineated multiple strong IP anomalies, many of which are coincident with the strongest cobalt-copper soil anomalism and/or shallow mineralisation intersected in historic drilling. The highest priority IP anomalies include: The Regina IP Anomaly - a large, strong IP anomaly that lies 200m immediately below very high-grade shallow cobalt mineralisation intersected in previous drilling (see Figure 3), significant results from limited previous drilling include: 0.15m @ 5.84% Co & 1.47 g/t Au from 75.5m; and 6.16m @ 0.61% Co & 6.40 g/t Au from 77.4m.

The Swift IP Anomaly is a strong IP anomaly located less than 250m below the historic Blackpine Mine. Previous drilling into shallow IP anomalism in this area returned very promising results including: 7.32m @ 0.16% Co & 0.15 g/t Au from 1.5m; 12.2m @ 0.01% Co, 2.80% Cu & 0.43 g/t Au from 29.0m; and 4.27m @ 0.02% Co, 7.47% Cu & 0.78 g/t Au from 124.6m. The Troll IP Anomaly is coincident with strong cobalt-copper soil anomalism.

High grade cobalt and copper mineralisation has been intersected in limited historic drilling that tested the uppermost portions of the IP anomaly including: 2.80m @ 0.16% Co, 4.90% Cu & 0.45 g/t Au from 10.7m; 1.86m @ 0.13% Co, 3.86% Cu & 0.11 g/t Au from 24.1m; and 0.52m @ 0.32% Co, 0.05% Cu & 0.01 g/t Au from 54.9m. The IP anomalism indicates there is potential to discover deeper extensions of the mineralisation at the Troll Prospect. The Trench IP Anomaly is a large anomaly that lies immediately below shallow drilling that intersected 6.5m @ 0.18% cobalt and 5.9m @ 4.4% copper.

The Vancouver IP Anomaly is another strong anomaly located immediately below historical shallow drill holes that intersected 5.1m @ 2.7% copper and 1.5m @ 0.12% cobalt. The Gossan, DB and Cuyuna IP Anomalies are all strong IP anomalies untested by drilling. Significant copper, cobalt and/or gold mineralisation has been identified at all three prospects in drilling or rock chip sampling.

Blackpine Project - Drill Program Koba will commence drilling in early September at the Swift Prospect where drilling will take place on the patented mining claims. Patented mining claims are privately-owned property and Koba has all the requisite approvals in place to commence drilling. The drill program will target extensions to known mineralisation and shallow IP targets delineated at the Swift Prospect. Many of the high-quality coincident IP and cobalt-copper soil anomaly targets at the Blackpine Project, including Regina, Troll and Trench, are located on unpatented mining claims (government property), which are governed by a different permitting regime.

Koba has submitted applications to drill-test these mtargets, with approvals anticipated in 2023. A 986.6m drill program at the Colson Cobalt-Copper Project has concluded with all the samples submitted to the laboratory with assays pending.