ELA 2002/00154 is made up of three geographically separate sub-areas aligned in a north-easterly direction along the Bulgunnia Shear Zone. Neither the northern nor the central sub-areas have any basement rock outcrop, with the depth of younger cover material generally in the order of 100 m. Interpretation of regional geophysical data suggests that the shallowest concealed basement rock may be of Palaeoproterozoic age, and possibly equivalent to the Hutchison Group on the Eyre Peninsula. Within both of these sub-areas the record of modern exploration is almost non-existent. The southern sub-area has a similar type of basement, but here it is much shallower, indeed, cropping out in places. The Giffen Well iron ore prospect occurs within this southern sub-area. Geological and geophysical evidence suggests that these areas situated marginal to the Bulgunnia Shear Zone may possess stratigraphic and structural settings which are comparable with those of the Middleback Range - Menninnie Dam region of north-eastern Eyre Peninsula.