HIGHLIGHTS
Orpheus Uranium is pleased to announce completion of the acquisition of the Oobagooma Uranium Project in Western Australia’s Canning Basin, securing a significant addition to the Company’s uranium exploration portfolio.
Orpheus has worked closely with the vendor Elevate Uranium Limited (ASX:EL8) and the relevant third parties to satisfy all conditions precedent under the Sale Agreement announced on 14 October 2025, enabling completion of the acquisition in accordance with its terms. The Company will now progress the regulatory process to transfer exploration licence E04/2297 to a wholly owned subsidiary of the Company.
Oobagooma combines significant historical uranium grades, shallow mineralisation and a sedimentary roll-front geological setting, providing a compelling foundation for renewed exploration. Historical drilling returned intersections of up to 3,775 ppm eU₃O₈, with selected results outlined below.
- CAN-S-237: 2.2 m at 3,581 ppm eU3O8 from 47.5 m
- CAN-S-237: 2.7 m at 2,046 ppm eU3O8 from 67.8 m
- YAM-S-005: 2.8 m at 2,352 ppm eU3O8 from 46.6 m
- YAM-S-110: 1.75 m at 2,552 ppm eU3O8 from 48.05 m
- YAM-S-110: 2.45 m at 1,870 ppm eU3O8 from 68.2 m
- YAM-S-140: 1.65 m at 3,775 ppm eU3O8 from 53.15 m.
The broader regional opportunity is highlighted by exploration licence applications lodged over surrounding ground by Heathgate Resources during the acquisition process. Privately held Heathgate is one of Australia’s two in-situ recovery (ISR) uranium producers, with more than two decades of operating experience in South Australia.
Orpheus considers the entry of an established ISR uranium producer into the surrounding district, an encouraging indication of the region’s exploration potential. This activity strengthens the strategic rationale for the Company’s acquisition of Oobagooma and its own applications over surrounding tenure, positioning Orpheus to explore both the known mineralisation and the broader regional opportunity.
With the acquisition complete, Orpheus plans to advance its assessment of the historical drilling, targeting the definition of an Exploration Target by December 2026.
