During 2006 the search for commercial iron oxide -associated copper-gold (IOCG) mineralisation in the Mabel Creek Project area and on two adjoining solely Marathon Resources - held licences continued, with the following work being completed: . an induced polarisation electrical geophysical survey in the western portion of EL 3324 over the Paragon Bore magnetic anomaly (3 north-south lines, 100 m dipole-dipole moving loop method) . detailed calcrete geochemical sampling (169 samples) over the Paragon Bore and PER8 targets, and . the drilling of three rotary mud/diamond holes at target M8 on EL 3455, for a combined total depth of 1076 m, during September-October 2006. The M8 target, located on the southern boundary of the Mabel Creek High, about 10 km south-west of Mabel Creek Homestead, is defined by coincident gravity, magnetic and AMT anomalies seen on the northern margin of a previously identified east-west trending magnetic low interpreted as a crustal suture zone. Visual logging of diamond cores obtained from all three drillholes revealed several fracture zones having minor reddish haematite alteration. However, only traces of sulphide mineralisation were intersected. No significant assays were obtained. Drillhole MN06WC01 encountered a highly silicified, weakly magnetic mafic sequence over the depth interval 231-275 m, showing trace paint of pyrite, chalcopyrite and possibly galena on joint surfaces. From 275 to 295 m depth the hole penetrated an intermediate lithology having variable weak haematite alteration plus moderate to strong silicification. The open drillhole collapsed and was abandoned at TD 295 m. Drillhole MN06WC02 encountered an alternating sequence of granitoid rocks and amphibolites below the cover, which persisted to the hole TD of 394 m. The granitoids generally contain 5-10% magnetite, while the amphibolites are weakly magnetic. A thin quartz-magnetite unit containing 15% magnetite was intersected between 192.65 to 193 m depth. It is thought that the granitoid precursors were likely to have been sediments, and that of the magnetite-rich unit a banded iron formation. Drillhole MN06WC03 penetrated a predominately non-magnetic granitoid basement rock sequence, cut by minor amphibolites and intrusive porphyritic dykes. Some traces of chalcopyrite ± bornite paint were noted on fractures cored at ~250 m depth. A fault zone intersected at 335.4 to 337 m contained strong chlorite- haematite alteration. Foliations noted within the drill core are in the range of 10 to 45 degrees to to the core longitudinal axis, equating to dips of -45 to -80 degrees, presumably to the south. This observation appears to be consistent with the geophysical interpretations. After Marathon chose to exit the Mabel Creek Project joint venture in August 2007, Minotaur Exploration undertook a review of the geophysical and drilling data which the other company had acquired whilst acting as JV manager. The outcome of this review indicated that on ELs 3324 and 3455 the crystalline basement lithologies of felsic and intermediate gneisses, granitoids, amphibolites and iron formation are consistent with a high-grade metamorphosed and multiply deformed metasedimentary sequence (Palaeoproterozoic to Mesoproterozoic in age), and in keeping with the folded magnetic trends evident in the regional TMI image. Many of these curvilinear magnetic anomalies of modest to high amplitude coincide with similarly oriented gravity anomalies, which implied that there is little scope for their hosting significant Mesoproterozoic IOCG mineralisation of a style similar to Prominent Hill. However, it appeared that a notable exception is a regionally positive Bouguer gravity anomaly 25 km north-west of Mabel Creek Homestead, which has an amplitude of ~10 mGal. This anomaly is broad, nearly 5 km across, and interestingly, corresponds with a zone of no pronounced linear magnetic anomalies, in contrast to surrounding regions. Gravity data modelling suggested a theoretical density of 3.0 g/cc, while the depth to basement is likely to be around 200 m. Part of the gravity anomaly is elongated NW-SE parallel to the nearby very pronounced linear gravity low, indicating a period of brittle faulting after regional ductile deformation. These features may be late Mesoproterozoic. The nature and composition of lithologies causing the positive Bouguer anomaly was unknown, and thus a possibility existed that it might be due to IOCG-style haematite alteration. During September 2008 a SQUITEM survey (B Field EM system) was conducted over EL 3324 for a total of 60 stations read over 9 line km, to try to identify potential conductors in the vicinity of gravity highs that might represent IOCG style haematite alteration. The new data did not highlight any conductors that were sufficiently encouraging to drill test as stand-alone targets. In the following month a gravity survey was conducted over both ELs 3324 and 3455 for a total of 676 stations, predominantly read at 800 m x 400 m spacing plus some short detailed profiles down to 100 m spacing, to collect infill gravity data and to improve the resolution of existing gravity coverage. Three targets (A, B and C) were recommended for drilling. Target A is the main gravity feature, some 7.5 mGal in size, whereas Targets B and C are small 2.5 and 4 mGal features, respectively, located on the edge of the larger Target A gravity anomaly. Target B is clearly magnetic; however, there is no clear magnetic association for Targets A and C. A three hole RC/diamond drilling programme was next designed and undertaken to test these geophysical targets. The second drillhole was commenced but was soon abandoned due to loss of water and sample return, and an additional drillhole was then added to the programme, leading to an overall total drilled penetration of 1307.92 m. The three fully completed drillholes reached their prescribed depths and tested the proposed targets, satisfactorily explaining the sources of the gravity anomalies. The principal rock types encountered were dense, high grade metamorphic gneisses including leucogneiss, paragneiss and mafic-intermediate gneiss (of probable Palaeoproterozoic age), plus lesser psammopelitic metasediments and granitoid rocks. There was no evidence of mineralisation or of significant IOCG alteration in the drill cores, and no anomalous geochemical values were obtained by assay. It was surmised that trace weak hydrothermal copper sulphide enrichment detected within cored rare tectonic breccias by Niton portable XRF analyses may perhaps reflect a distal, unmineralised zone of the fluid conduit for the Gawler Range Volcanics system. Due to the perceived lack of prospectivity for finding IOCG mineralisation, no work occurred on the project licences during 2009, and they were subsequently allowed to expire at the end of their fifth year without renewals being sought.