Exploration currently underway for possible economic buried iron oxide - associated copper-gold (IOCG) mineralisation within Proterozoic basement on the Mabel Creek High, in one of two joint venture group project licence areas located approximately 45 km west of Coober Pedy, has sought to identify geological vectors to any of Olympic Dam, Ernest Henry, Cadi or Tennant Creek style deposits. In an area of the Gawler Craton such as the Mabel Creek High, where outcrop is absent, the joint venture regarded the availability of quality geophysical data as imperative for exploration targeting. Open file gravity and aeromagnetic datasets from the previous exploration efforts of BHP and CRAE proved invaluable, and were reprocessed and reinterpreted. The primarily geophysical approach sought to generate a regional lithological interpretation, to delineate major, transcrustal, extensional structures (possible ore fluid conduits), to identify prospect-scale dilational structures, and to discriminate between the magnetic responses of stratigraphic and non-stratigraphic iron oxide accumulations. During September-October 2000, Minotaur Resources commissioned Fugro Surveys to acquire infill gravity data (130 stations spread over two licences, including 88 stations read within the now relinquished portion of EL 3324) on a 1 km x 1 km grid over two selected residual gravity anomalies, called G3 and MC2. Subsequent combining of all gravity data onto a 100 m spaced model grid revealed that the Mabel Creek gravity high is in reality two parallel highs separated by a NW-SE trough, interpreted as a basement graben / half graben structure, containing Cambrian sediment fill. This major structure can be seen to continue south across the Karari Fault Zone and into the Coober Pedy Ridge. Coinciding with the southern, 200 square km Woorong Creek gravity high is a region of intense magnetism, represented by numerous ENE to E-W to ESE curvilinear and folded magnetic sources. These features were interpreted to correspond with stratigraphic horizons of banded iron formation (BIF) and magnetite-bearing gneisses. Further to the north-east, this magnetic linearity grades into a region dominated by reversely magnetised bodies, interpreted as syn- to post-orogenic granite stocks. Numerous magnetic rims to these intrusions appeared to be caused by non-stratigraphic iron enrichments, and were therefore interpreted as iron oxide replacement bodies. This region was regarded as being the most prospective for finding large Olympic Dam style Cu-Au orebodies. Within the now relinquished portion of EL 3324, the prominent NW-trending, elongate MC2 residual gravity high (amplitude 3 mGal) coincides with a magnetic high (~1000 nT), an adjacent ring structure and a higher-order NNW-trending fault. Its source was interpreted to be a possible large, Olympic Dam-style haematitic body, which gravity data modelling suggests lies at a relatively shallow depth (~260 m). Drill testing during December-January 2001 of the very similar G3 gravity anomaly located a few km to the south-east of MC2, on Minotaur's adjacent EL 2730, failed to find significant iron oxide - associated copper-gold (IOCG) mineralisation. Therefore the drill testing of anomaly MC2 was postponed by joint venture parties Minotaur Resources and Billiton Exploration Australasia, pending further geophysical modelling and data analysis. BHP Billiton decided to conduct its own re-assessment of the modelled coincident magnetic and gravity anomalies within the project licences, which led to a downgrading of all targets by that company and its subsequent withdrawal from the joint venture. A revised concept for the regional setting of the G3 and MC2 anomalies was put forward at that time, suggesting that they arise from remnant large rafts of Palaeproterozoic ?Lincoln Complex country rock present within a broad area of Hiltaba Suite granite, as compared to the original interpretation of iron oxide replacement bodies punctuating stocks of Hiltaba Granite. Subsequent joint venture partner Perilya also ranked MC2 as a low priority target, prior to its withdrawal from the Mabel Creek JV Project. Geophysical consultant Graham Elliot was employed by Perilya to review results of previous exploration and recommend future work directions. The review recommended acquiring some induced polarization traverses over MC2 to try to detect indications of sulphide mineralisation, however, this recommendation was not followed up by Perilya or by later joint venture partner Marathon Resources. Marathon Resources conducted a “mobile metal ion” soil geochemical sampling orientation survey over the MC2 prospect in 2006. 164 x minus 5 mm sieve fraction samples were collected from approximately 15 cm deep pits and were assayed for low concentrations of precious or indicator metals. The highest assay results for elements of interest were 1.61 ppb Au, 6.6 ppb Ag, 4.35 ppb Cu, 0.12 ppb Pb and 966 ppb Zn, but these values were not considered to be geologically significant.