The Oobagooma Project is located 75km north east of Derby in the Kimberley Region of Western Australia. The project is a sandstone-hosted uranium deposit historically explored by Afmeco ( a subsidiary of French company Total ) The mineralisation was mostly in reduced Upper Devonian sediments surrounded by oxidised facies of sediments.
Afmeco estimated a total geological resource at 21.9Mlbs at 1,200ppm. The mineralised sandstone units have values suitable for In-Situ Recovery (ISR). Research conducted internally by Paladin highlighted the potential of a resource upgrade in the area to 55 – 66Mlbs U308 at grades around 1,200ppm.