During early 2005, the Drew Hill joint venture partners conducted a regional base metal exploration programme over their mineral tenements located approximately 20-70 km north-east of Olary. Possible epithermal iron oxide copper-gold (IOCG) mineralisation within buried Palaeoproterozoic Curnamona Group metasediments was the principal deposit style sought, based on structural/geological/magnetic prospects identified from an initial desktop review completed by programme operator Noranda. Several geological elements considered to be indicative of IOCG-style mineralisation had led Noranda to target the Drew Hill area for collaborative drilling under the PACE Initiative. These are:- numerous Cu-Au-(Mo) mineral occurrences in outcrop and defined resources (Luxemberg Au, Green & Gold Cu-Au, White Dam Cu-Au-Mo, Kalkaroo Cu-Au-Mo 80 Mt @0.9% Cu equivalent and Mutoroo Cu 8.7 Mt @ 1.7% Cu) within and adjacent to the project area; a favourable geological setting defined by Curnamona Group host rocks of a suitable age (Proterozoic) and lithology; intrusion of syn- to late-tectonic granitoids; favourable structural elements (eg. structural corridors aligned at high angles to larger features and dilational zones); documented Na-Ca-Fe-K alteration and brecciation in outcrop to the west of the covered Drew Hill area; spatially associated stratabound 'iron formations/ironstones' and barites (Mount Mulga mine Cu-Au-Ba) in the outcropping western half of the project area. A detailed airphoto interpretation was commissioned to provide a detailed base map to be used in combination with data from government geophysical surveys and geological mapping. The bulk of the prospects which were defined are located in the eastern half of the area, largely undercover. These prospects were profiled by a combination of IP and gravity methods to further define robust targets for drilling. A total of 30.7 line km of time domain 100 m loop dipole-dipole IP, and 801 gravity stations read on 100 m/200 m spaced lines, were completed over seven prospects, which exhibited strong to moderate IP chargeability responses and moderate 1-2 mGal gravity anomalies. In the actual PACE-funded drill project, 7 RC/DD holes were drilled on four discrete targets for a total of 638.6 m of RC precollars and 1452.6 m of NQ2 diamond core penetration. Drillhole assay results from this project were disappointing overall, with only several thin intersections of notable mineralisation. The rock sequence penetrated consisted mainly of high metamorphic grade felsic and leucocratic gneisses, muscovite-garnet-biotite schists, psammites, and lesser amphibolites and migmatites, all having ubiquitous albite-magnetite alteration and carrying disseminated sulphides (py-po) as veins related to zones of more intense silica-albite alteration. However, two drillholes (NDHD0005, NDHD0006) provided encouragement through anomalous assays and atypical geological host intervals. Firstly, the narrow (0.3 m) sulphide intersection made in hole NDHD0005 below 195.7 m depth is associated with a distinct IOCG element association (2.69% Cu & 1.14 g/t Au, plus elevated Fe, U, Mo, Mn) and with red-rock alteration, a result which shows that IP techniques can be used to identify Cu-Au sulphide mineralisation under cover within the Drew Hill JV area. Secondly, hole NDHD0006 is very interesting in that it intersected a distinct IOCG style alteration and mineralisation assemblage (cpy-py-mt-alb-haem-act), possibly after intermediate volcanics, which returned low level Cu anomalism (0.19% Cu) plus elevated Fe, Co, and Zn. This assemblage is elsewhere commonly associated with IOCG occurrences and large deposits in the Eastern Succession of the Mt Isa Inlier (eg. Ernest Henry, Eloise). Additionally, this mineralisation was also identified by the IP profiling, and a subsequent revision of the (now called Laura Jane) prospect profiles has shown that there are similar magnitude IP/chargeability anomalies coinciding with both the peak of the aeromagnetic anomaly and sites along its flanks, which anomalies remain to be drill tested. So Noranda concludes that both of these drillholes have successfully confirmed the presence of IOCG style mineralisation and alteration under cover within the Drew Hill JV area, a view which, until the completion of this PACE-assisted drilling programme, remained highly probable but unproven.