To further investigate the Cu-Ni-PGE mineral sulphide potential of a known buried mafic / ultramafic layered igneous intrusive complex situated near Ki Ki in the upper South-East, the licensee of EL 3295 sought PACE Initiative funding to complete two drillholes to test a pair of hitherto undrilled discrete magnetic anomalies interpreted as being sourced from within it. Vertical rotary mud and diamond core holes KK01 and KK02 (drilled total 398 m, including 83 m of NQ coring in basement) were completed in June-July 2005 at locations approximately 7 km apart, having passed through a sequence of Tertiary Murray Basin sediments before reaching their targets. Hole KK01 reached basement at 144 m depth, and was then cased with HQ rods and core drilled to TD 190.5 m. In this hole the basement lithology comprised mainly amygdaloidal basalt containing minor pyrite +/- trace chalcopyrite. A narrow band of lapilli tuff was described from petrological examination as occurring at about 160 m depth. Hole KK02 was mud drilled down to top of basement at 169.5 m, and was then also cased with HQ and NQ cored to TD 207.25 m. Here basement consisted of layered ultramafic and amphibolitic (after ?dolerite) lithologies with minor magnetite, pentlandite and ?chromite. Difficult drilling conditions in the Tertiary cover, due to cavities and porous gravelly horizons in the calcareous sandstone units that are commonly present, meant that progress was slow with the mud circulation often effectively lost, and consequently no drill cuttings were returned in both holes over the interval from 35-145 m depth. An initial 14 basement drill core samples have been examined for petrological and mineralogical characterisation and petrogenetic interpretation. The original ultramafic intrusion appears to have been later intruded by mafic dykes, or else has undergone a significant degree of both metamorphic retrogression and late stage low temperature alteration. Bleached zones evident in an altered metabasalt in KK01 contain abundant pyrite which could be associated with anomalous gold. Results of comprehensive split core sample assaying on hole KK02 are still pending at the time of this report.