Koba only floated on the ASX in 5th May 2022. The SP got to 0.23 that day. The company has a small portfolio of cobalt plus copper/cobalt tenements in Idaho USA that have seriously failed to excite the market. I expect that is the reason why they shopped around for a lithium play.
They have now purchased 145 sqm of tenements in Southern Manitoba Canada which they have named 'the Whitlock Project'. The project does contain "extensive pegmatites mapped at surface", "that pegmatites have been intersected in limited previous drilling within the Project" and we do know that Canada does have plenty of Lithium. Will the pegmatites host sufficient Spodumene though? The ASX forced Koba to make an amended announcement of the acquisition which, among other clarifications, stated that "the Company has reviewed all the relevant reports associated with the81 holes drilled within the project area during previous exploration for gold, copper,nickel, PGE’s, chrome, uranium and lithium; and ... (provides) confirmation that there are no material results from the 81 holes, other than theintersection of several pegmatites during exploration for uranium (that were not assayedfor lithium), as noted in the announcement."
They are name-dropping the Tanco mine, which is said to be 'along strike', and Tanco is referred to as Canada's only operating lithium mine. But Tanco, while having some lithium reserves, mainly produces tantalum and caesium. Tanco is the world's largest caesium mine. It does sell lithium concentrate. According to wikipedia, the Tanco mine has produced spodumene and amblygonite; caesium-containing pollucite; beryllium-containing beryl; as well as tantalum/niobium-containing simpsonite and tantalite.
Whitlock and Tanco also both sit on top of a greenstone belt, which is always a positive sign in the hunt for spodumene.
I am not convinced that the pegmatites will contain much spodumene, but we won't know until you put the drill bit in. It is positive to see that ground work has started.
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