Koba Resources Ltd
Koba Resources Locks In High-Priority Drill Targets at Stannex Ahead of Maiden 3,000m Program
Koba Resources Limited (ASX: KOB) has completed an induced polarisation (IP) survey at its 100%-owned Mt Garnet Tin-Tungsten Project in North Queensland, with the results sharpening drill targeting at the Stannex Prospect ahead of a maiden ~3,000m drilling program expected to start in the coming days. According to the ASX announcement, the survey identified strong chargeability anomalies that align with both high-grade surface rock chips of up to 21.3% tin and a broad 2.0km x 0.5km tin-in-soil anomaly.
The update matters because Koba is moving from surface-based exploration into drill testing with a more defined view of where potential mineralisation sits below ground. In the announcement, management noted that the anomalies show lateral continuity and depth extent in some cases beyond 250m, which may improve the effectiveness of the upcoming drill program at Stannex and the nearby Gilmore Prospect.
"The IP survey has revealed a strong correlation between chargeability anomalies and the high-grade rock chip and tin-in-soil results previously defined at surface," said Ben Vallerine, Managing Director and CEO.
"Importantly, the anomalies also show strong lateral continuity and meaningful depth extent, giving us greater confidence in the scale and quality of the targets."
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IP Survey Results Strengthen the Stannex Drill Case
In the report, Koba said the IP survey covered the main Stannex target area with five Bipole-Dipole lines spaced 400m apart across about 2km of strike. Individual lines were up to 1,350m long, for a total of 6.4 line km, making this the first use of the Bipole-Dipole IP method at Mt Garnet.
The main outcome was consistency. Koba reported significant chargeability anomalies on all five survey lines, with those anomalies correlating closely with known high-grade rock chip locations and the previously defined tin-in-soil geochemical trend.
That convergence is important in an exploration setting. Surface rock chips can show that mineralisation exists, and soil sampling can indicate a broader mineralised system. However, geophysics helps map where that system may continue below surface. At Stannex, the company now has all three datasets pointing to the same target zones.
Key IP findings reported by Koba include:
- Chargeability anomalies on all 5 lines
- Correlation with rock chip results grading up to 21.3% Sn
- Correlation with the high-tenor tin-in-soil anomaly
- Lateral continuity across the surveyed corridor
- Depth extent to approximately 250m and locally beyond
- Survey data quality described as good, with no ground conditions affecting results
The technical parameters reported in the ASX release are summarised below.
| Survey Parameter | Detail |
|---|---|
| Survey type | Bipole-Dipole Induced Polarisation |
| Number of lines | 5 |
| Line spacing | 400m |
| Total survey length | 6.4km |
| Line bearing | 045° |
| Depth of investigation | Approximately 250m |
| Background chargeability | -0.5 to 14.0 mV/V |
| Anomalous chargeability | 10.0 to 18.9 mV/V |
| Resistivity range | 17 to 7,830 Ωm |
According to the announcement, the data was reviewed and processed by NewGenGeo Pty Ltd, which produced 3D inversion models, depth slices and preliminary sections used to plan drill holes.
Why Induced Polarisation Matters in Tin-Tungsten Exploration
For investors less familiar with exploration geophysics, IP is a method used to detect buried materials that can hold an electrical charge. In simple terms, an electrical current is sent into the ground and geologists measure how the rocks respond after that current is switched off.
At Mt Garnet, this matters because tin-tungsten mineralisation in the region is often associated with metallic sulphide minerals, including pyrite. These sulphide minerals are more electrically responsive than surrounding rocks, so they can create a chargeability anomaly that IP surveys can detect from surface.
What Do the Key IP Terms Mean?
| Term | Meaning |
|---|---|
| Chargeability | How strongly a rock or mineralised zone holds an electrical charge |
| Resistivity | How much the ground resists electrical flow |
| IP anomaly | An area with elevated chargeability that may indicate sulphide-bearing mineralisation |
| Tin-in-soil anomaly | Elevated tin values in soil samples that may point to nearby mineralisation |
| Rock chip sample | A sample collected from exposed rock at surface |
| Greisen | Altered granite commonly associated with tin and tungsten mineralisation |
Furthermore, IP can reduce some exploration uncertainty before drilling begins. It does not confirm an economic discovery, but it can help prioritise drill holes by identifying the shape, depth and continuity of potential mineralised zones.
At Stannex, the company is not relying on geophysics alone. The IP anomalies coincide with strong surface evidence, including rock chips grading up to 21.3% Sn and a sizeable tin-in-soil footprint. That combination can improve confidence that the first-pass drilling is targeting the most prospective parts of the system.
Geological Setting Points to a Known Tin-Tungsten Style
In the announcement, Koba described Mt Garnet as being located in the Hodgkinson Province of the Mossman Orogen in North Queensland. The local geology includes folded sedimentary rocks of the Hodgkinson Formation, intruded by highly fractionated granites of the Kennedy Igneous Province, locally the O'Briens Creek Supersuite (Emuford Granite).
The company is targeting greisen, vein and fissure-style tin and tungsten mineralisation hosted in both sediments and granites. While those terms are technical, the practical meaning is that mineralising fluids appear to have moved through cracks, altered the surrounding rocks, and deposited tin and tungsten minerals in structurally favourable zones.
This is a recognised mineralisation style in the district rather than an untested concept. For instance, Koba noted that the nearby Gilmore Mine was mined over several periods from 1906 into the 1970s, providing a historical indication of the region's tin potential.
At Stannex, the geological case now rests on several aligned indicators:
- A more than 2km strike length of tin-in-soil anomalism
- High-grade rock chips up to 21.3% Sn
- IP anomalies extending to depth across the same corridor
- Planned drilling designed to test these coincident targets
For exploration companies, this type of alignment between geochemistry, surface sampling and geophysics is often used to rank targets before committing drill metres.
Maiden Drilling and July Assays Provide Near-Term News Flow
The ASX update outlined an active work programme across Koba's Queensland tin-tungsten assets. The immediate focus is the maiden ~3,000m drill programme at Stannex and Gilmore, which is expected to start within days of the 1 July 2026 announcement.
This is likely to be the next key test of the Stannex thesis. The IP survey has helped refine where those holes should be placed, but drilling will be required to determine whether the chargeability anomalies correspond to tin-tungsten mineralisation of sufficient width and grade.
Koba also flagged additional catalysts over the coming months.
| Upcoming Catalyst | Timing | Project |
|---|---|---|
| Maiden ~3,000m drill program at Stannex and Gilmore | Coming days from 1 July 2026 | Mt Garnet Tin-Tungsten Project |
| Tungsten-focused rock chip assay results | July 2026 | Mt Garnet Tin-Tungsten Project |
| Second ~3,000m drill program at Kitchener and Jiminy | Q3 2026 | Stannary Hills Tin-Tungsten Project |
The July tungsten assays could add another layer to the Mt Garnet story by helping define the project's tungsten potential alongside tin. In addition, a separate ~3,000m drill programme is planned at the Kitchener and Jiminy prospects within the Stannary Hills Tin-Tungsten Project.
For investors, that sequence suggests a steady stream of exploration updates rather than a single isolated event.
Why Investors Are Watching Koba Resources
Koba's latest report does not contain drill results or a resource estimate, so the investment case remains firmly at the exploration stage. However, the Stannex update is relevant because it shows a more systematic progression from early surface sampling to drill-ready targets.
Several points stand out from the announcement.
First, the surface grades are high. Rock chip assays of up to 21.3% Sn are notable and support the presence of strong tin mineralisation at surface, although rock chips are selective by nature and not representative of broader grades.
Second, the IP survey appears to have added scale context. According to Koba, the anomalies continue for more than 2km along strike and persist to around 250m depth or more in some locations.
Third, Koba holds 100% ownership of the Mt Garnet and Stannary Hills project tenure through its subsidiary Stannum Metals Pty Ltd, meaning upcoming exploration results are not being diluted through a joint venture structure.
Fourth, the company is building a broader tin-tungsten portfolio in Queensland rather than relying on a single prospect. Mt Garnet and Stannary Hills provide exposure to multiple targets and multiple news catalysts in H2 2026.
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What to Watch as Drilling Begins
The next phase will shift attention from geophysical targeting to physical drill intersections. Investors will likely be looking for several specific indicators in upcoming results:
- Whether drilling intersects sulphide-bearing zones corresponding to the IP anomalies
- Whether tin and tungsten grades support the surface sampling results
- Continuity of mineralisation along strike and at depth
- Geological evidence that helps confirm the scale of the Stannex system
- Whether results at Gilmore add further support to the broader Mt Garnet project
A successful outcome is not established by the IP survey alone. Nevertheless, according to the company's report, the survey has improved target definition ahead of first-pass drilling and validated Bipole-Dipole IP as a useful tool at Mt Garnet.
According to the ASX announcement, Koba has progressed Stannex from a high-grade surface anomaly to a drill-ready target supported by geochemistry, rock chips and geophysics. With a maiden ~3,000m programme about to begin, July tungsten assays pending, and a second ~3,000m campaign planned at Stannary Hills in Q3 2026, the company is entering a catalyst-heavy exploration period across its Queensland tin-tungsten portfolio.
Koba's latest update places Stannex at the centre of that near-term pipeline. The IP results do not answer the core discovery question yet, but they do provide a clearer framework for the drill bit to test it.
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