EL 3506 (Fig.1) is located approximately 300km northwest of Broken Hill, and 560km north of Adelaide. It was granted to Central West Gold in March 2006. This EL is considered to be located within one of the most prospective uranium provinces in Australia, due to its proximity to the Beverley Uranium Mine, 45km to the south-east, and the Mount Painter Group uranium deposits, 30km to the south.

EL 3506 is though to be prospective for three main styles of uranium deposit. These are:
 
Breccia complex deposits similar to those at Olympic Dam.
Vein hosted deposits.
Sedimentary roll-front deposits.

(Fig.2 Uranium Prospectivity, Ooloo)

Available satellite and geophysical data shows a circular feature in the east of the EL, intersected by a number of structures defined by gravity and magnetics data. These features are thought to be analogous to features associated with the Olympic Dam granite breccia which hosts Fe-Cu-Au-REE deposits.
 
Results from a governmental radiometric survey show a number of discrete anomalies which are considered to be prime exploration targets. A number of these anomalies coincide with a regional gravity high which is believed to relate to either deep intrusive bodies or shallow basement rocks that could potentially host mineralisation.

(Fig3. E.L.3506 Radiometric Results)

Follow up field mapping and geochemistry is planned in order to design drill holes to test these uranium targets. This drilling, when carried out will assess the possibility of uranium and base metal deposits occurring at depth below historic Au-Ag-Pb-Zn workings within the EL. This exploration will focus on Olympic Dam breccia style deposits, but other targets will also be assessed.
 
Data collation is continuing, with surface geochemistry programmed for the coming winter season. The focus of exploration will be Olympic Dam style uranium targets, but other targets (including palaeochannel mineralisation) will also be assessed.