Exploration for possible porphyry style Cu-Au-Mo mineralisation or Prominent Hill type copper-gold deposits, associated with the long-recognised North Wallaroo - Alford magnetic and altered red rock trend, has addressed the potential of a 20 km long stretch of ground lying offshore in Spencer Gulf in relatively shallow water (< 12 m) and within 5-10 km of the shore around Wallaroo Bay. Following interpretation of open file 1999 TEiSA low-level aeromagnetic data, plus an inspection of historic Moonta Mines' diamond drill cores, the licensee prepared and distributed to likely financial joint venture partners a prospectivity review of magnetic features. Sea surface, GPS-located magnetic traversing of selected magnetic anomalies was also proposed to refine four targets prior to signing a JV partner who would carry out further work including airborne gravity surveying and offshore drilling. However, no such fieldwork was undertaken, no JV eventuated, and the licence was allowed to expire.