Koba Resources is an Australian resources company exploring a portfolio of high-grade cobalt projects in the USA to support the electric vehicle revolution and the world’s path to net zero emissions.
A key component of batteries, cobalt’s global consumption is forecast to more than double increasing from 156,000 tonnes in 2021 to more than 400,000 tonnes by 2030 with demand driven by the growth in electric vehicles, energy storage systems and smart devices. The cobalt price has risen from $US33,000 per tonne in January 2021 to $US82,000 per tonne in May 2022 with substantial shortfalls in cobalt supply forecast over the same period.
Koba has a 100% interest in four high-grade assets in one of the western world’s premier cobalt districts – the Idaho Cobalt Belt. The highly prospective Blackpine, Colson, Panther and Elkhorn Cobalt-Copper projects, where cobalt is the metal of primary economic importance. These projects and are all in close proximity to Glencore’s historical Blackbird Mine that produced 5Mt at 0.6% Co and 1.5% Cu up to 1969, and Jervois Global’s Idaho Cobalt Operation that is scheduled for first production later this year from a resource totalling 6.8Mt at 0.42% Co, 0.64% Cu & 0.51 g/t Au. Koba’s fifth project, the Goodsprings Copper-Cobalt Project, is located in Nevada.
Koba’s experienced management team has a very good understanding of the Idaho Cobalt Belt’s high-grade mineralisation and is committed to realising value by advancing the company’s assets . Koba has deliberately focused on the tier 1 jurisdiction of the USA, where government policy is increasingly promoting low carbon alternatives and domestic supply for minerals critical to reducing its carbon footprint including cobalt.
Read more about Koba's Idaho Cobalt Belt Projects
The Colson Project contains the historic Salmon Canyon Mine which produced several hundred tonnes of copper-cobalt ore between 1964 and 1979 from 650m of underground development
The Elkhorn Cobalt Project is an early-stage prospect with historic prospecting pits containing cobalt-copper oxides over 1.5km of strike length. The character of the mineralisation, together with the host stratigraphy, invite analogies between Elkhorn and the known deposits within the Idaho Cobalt Belt.
The Panther Project lies 3km east of Jervois’ Idaho Cobalt Operation and 3km to the northeast of the historic Blackbird Cobalt Mine, where approximately 5 million tonnes of ore was mined between 1938 and 1969.
The Blackpine Cobalt -Copper Project has high grade cobalt, copper and gold mineralisation across ten major prospects and is just 15km southeast of the highly endowed Blackbird District (17Mt averaging 0.74% Co, 1.4% Cu and 1.0 g/t Au) that includes the past-producing Blackbird Mine and Jervois’ Idaho Cobalt Operation that is scheduled to commence production in 2022.
There is a long history of small-scale mining activity in the Goodsprings District. Since 1921, 19.1 tonnes of ore, at an average grade of 9.5% Co, were shipped from four mines.
Blackpine Project
Located in the world renowned Idaho Cobalt Belt, our high-grade Blackpine Cobalt-Copper Project comprises several high priority prospects that have not been explored since the 1990’s.
Previous drilling identified high grade results including:
- 0.15m @ 4.79% Co & 4.00 g/t Au
- 6.2m @ 0.61% Co & 6.4 g/t Au;
- 1.2m @ 1.43% Co & 1.37 g/t Au
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