Oobagooma

The Oobagooma uranium deposit is located in the Western Kimberley region of Western Australia, 75 kilometres north east of Derby, at Yampi Sound, an Australian army training site, 1,900 kilometres north east of Perth.

Oobagooma Deposit Allowed Access by Defence Officials

The holder of the Oobagooma deposit tenements, Paladin Energy Limited, have been granted a memorandum of understanding with both the federal and state government, that will allow it to explore for uranium within their tenement leases.

Oobagooma Uranium Deposit Previously Owned by Afmeco Mining and Exploration

The Oobagooma uranium deposit, that contains an estimated 9,000 tonnes of uranium, was previously owned by a subsidiary of Cogema Australia, Afmeco Mining and Exploration, before it was acquired by international uranium producer, Paladin Resources Limited, in 1998. The mining tenements are on Commonwealth Government land that is used by the Australian Defence Force for training exercises.

The Oobagooma Deposit to be Mined by ISR Technology

The Oobagooma uranium deposit, that is contained in sandstone and believed to be suitable for mining via the in-situ recovery (ISR) process, was discovered by Afmeco Pty Ltd in 1981. Access to the site is obtained by traveling east of Derby along the Gibb River Road before turning north along the Meda-Oobagooma station roads. The deposit is located on the former Oobagooma Station. The actual exploration site is about two kilometres to the east and north of the original Oobagooma Homestead. Consent from both the Department of Defence and the Commonwealth Government is required before access is given to visit the site. Both government and department representatives have indicated they will support the development of the Oobagooma Project.

The main exploratory effort so far has been to confirm the continuity of the uranium mineralisation in the area. This is being carried out by infill drilling concentrating on mineralised redox fronts which is being reinterpreted by Paladin Energy, who are planning to develop the resource as a future ISR mining operation.

Oobagooma Uranium Project to Have a Life of 10 Years

Paladin Energy limited is looking to develop the Oobagooma project as an ISR uranium mining operation with a capacity to produce more than two million pounds of uranium a year, however, before this can be positively determined, it is necessary to undertake more substantial resource drilling, hydrological testing, metallurgical testing and a field leach trial, as well as an environmental baseline study prior to carrying out a Feasibility Study. To date it appears the uranium mineralisation present at the Oobagooma site is sufficient to support a mine with a life of around ten years that could well be extended further if other regional exploration programs are also successful.

Paladin Energy Limited is an international uranium producer which is listed on the Namibian and Toronto Stock Exchanges, as well as the Australian Securities Exchange. The company also trades on the Frankfurt, Stuttgart, Berlin and Munich Exchanges. The company operates two uranium mines in Africa and is currently building up its portfolio of uranium projects in Australia. It is aiming to become a world foremost uranium mining company. The company name 'Paladin' is derived from the early Byzantine days that signifies those representing the highest dignitaries of the Court, usually a chieftain, or lord. It went on to be adopted as the name representing a knight errant or a champion looking for adventure.