Exploration for possible buried Carrapateena or Prominent Hill type iron oxide-associated copper-gold deposits along the south-eastern side of the Stuart Shelf, in the vicinity of the southern end of Lake Torrens, initially consisted of a review of past drillhole and geophysical data and the acquisition and processing of a semi-regional to detailed, 2538 station gravity survey by contractor Daishsat Surveys during February, June and August 2007. Six gravity features of interest were identified using a combination of both inversion and forward modelling of the gravity data, and were interpreted in conjunction with structural models generated from re-imaged magnetic data, to select targets for first pass evaluation drilling. Three targets were then tested by three vertical RC/diamond holes for a total penetration of 3135 m. Hole LTDD001 was drilled to TD 1020 m, and was designed to test a 2 km long and 1 km wide, NNW trending, NE-dipping ~2 mGal positive gravity anomaly (Target 3B). This drillhole encountered a sequence of flat lying sedimentary rocks of Adelaidean age, which continued until the end of the hole. No significant trace metal anomalism was detected in the drill core. Hole LTDD002A was drilled to TD 997 m after the initial drillhole LTDD002 was abandoned at 244 m depth due to stuck drill rods. This drillhole sought possible IOCG-U mineralisation associated with a conspicuous 'bullseye' gravity anomaly (Target 5A) that lies within a gravity low (probably Hiltaba Granite). Geophysical modelling of the gravity data had suggested that the top of the dense source lay approximately 280 m to 500 m below the surface, and might represent either the Beda Volcanics or older Mesoproterozoic basement (Gawler Range Volcanics). LTDD002A intersected sedimentary rocks of Adelaidean age to 581.50 m depth, followed by amygdoidal basalt (Beda Volcanics) to the end of the hole, which was terminated because of the unusual thickness of this latter unit (>400 m). Past drillhole records had indicated that the total thickness of the Beda Volcanics is generally less than 300 m. Therefore it is surmised by the operator that Target 5A may represent a plug or ?raft/fault block of unknown thickness. No significant gold or base metal anomalism was detected in 3-metre composite RC chip samples covering sulphidic intervals within the Adelaidean sequence. Other drill core sampling of ophitic textured and vesicular basalt horizons, in an attempt to establish the geochemical signature of the Beda Volcanics, yielded maximum assay values of 14 ppb Au, 74.9 ppm Ag, 42 ppm Bi and 2.08% Cu from a 40 cm long quartz-busmuthinite-bornite breccia vein formed within this unit. Hole LTDD003 was drilled to TD 1118 m. It was designed to identify economic IOCG-U mineralisation associated with a prominent NNW-trending 3.8 km long gravity ridge (Target 6A-2). Geophysical modelling had suggested that the top of the dense source lies approximately 400 m to 500 m below surface, and might represent either Beda Volcanics or Gawler Range Volcanics. This drillhole intersected a sequence of Adelaidean aged sedimentary rocks to 719.15 m depth, followed by interlayered amygdoidal basalt (Beda Volcanics) and flaser redbeds (Backy Point Formation) to the end of the hole. The hole was terminated in Beda Volcanics after this unit had reached a thickness in excess of 350 m, and because the hole depth was then approaching the limits of economically viable mineability. Dry bulk densities were calculated for 63 whole core samples cut within the Adelaidean sequence of drillhole LTDD003, using the dry calliper method. The results were: Tregolana Siltstone - 2.78g/cc Whyalla Sandstone - 2.71g/cc Reynella Siltstone - 2.75g/cc Angepena Siltstone - 2.80g/cc upper Tapley Hill Formation dolomite - 2.87g/cc Tapley Hill Formation siltstone - 2.78g/cc As well, a total of 46 representative specific gravity measurements were taken over the length of drillholes LTDD001, 002A and 003 using the air-water method. These gave results as follows: Tregolana Siltstone - 2.75g/cc Whyalla Sandstone - 2.69g/cc Reynella Siltstone - 2.70g/cc Angepena Siltstone - 2.74g/cc upper Tapley Hill Formation dolomite - 2.81g/cc Tapley Hill Formation siltstone - 2.73g/cc Backy Point Red Beds - 2.70g/cc Beda Volcanics - 2.83g/cc. From the drilling first pass it was concluded that the >1020 m thickness of Adelaidean (?) cover encountered in hole LTDD001, when compared to the 175 m of such sediments met with in Urangesellschaft Australia's Yadlamalka DDH2, located 3.2 km to the SE, confirms the high 'throws' of block faults in this part of the Stuart Shelf. The deep gravity feature interpreted within the Target 5A anomaly is likely to be caused by a thick sequence of less dense Adelaidean sandstone (s.g. 2.65) and siltstone (s.g. 2.74) overlying more dense Beda Volcanics (s.g. 2.81). Because hole LTDD003 struck the Beda Volcanics at a depth of 755 m compared with the modelled depth of 400-500 m, it disproved the concept that the Target 6A-2 gravity feature represented an up-thrown fault block that might present a possible shallower expression of mineralisation. Thus it appeared that resolving the location of basement grabens and horsts would continue to play an important role in enabling successful exploration through the Adelaidean cover sequence for economic IOCG-style mineralisation hosted in the older Mesoproterozoic basement. Following the conduct of a further review of the area's geophysical data, plus additional data modelling and interpretation studies utilising drill core sample petrophysical data from the recently completed diamond drillholes, aimed at identifying any remaining shallow IOCG targets <1 km below the surface, it was suggested by the consultant geophysicist that a prominent, NNW trending, narrow curvilinear semi-coincident magnetic and gravity feature (the 'Yadlamalka Horst') could be undertested and might contain Mesoproterozoic basement at a relatively shallow depth (<500 m), comparable to that at the Punt Hill and Carrapateena prospects. However, the apparent lack of texture in the local magnetic data suggested that the overlying Beda Volcanics sequence might be over 200 m thick near the edges of the fault block, and the absence of strong gravity anomalies meant that the presence of IOCG mineralisation was regarded as being unlikely. A recommended programme of ground magnetic and gravity surveys, to be followed by exploratory RC drilling which would have tested the IOCG and unconformity-related uranium potential of this basement feature, was not carried out. No work took place during the fourth year of both of the subject licences, and their tenure was thereafter allowed to lapse without applying to renew it. The potential of the project ground for allowing commercial geothermal energy developments was also addressed by the EL joint venturers, under authority of their spatially coincident GEL 302. The completion within that particular licence ground of the two deep RC/diamond drillholes described above had allowed them to perform downhole gamma ray/temperature log probing, and subsequently to collect thermal conductivity measurements from recovered drill core specimens. An independent expert's appraisal of the resulting geothermal data indicated that the local heat flow (up to 94.1mW/square m) is high enough to be prospective for an engineered geothermal system (EGS) geothermal development. For comparison, geothermal company Torrens Energy had previously obtained encouraging heat flow results (up to 106 mW/square m) from its exploratory drilling at the Parachilna prospect, located about 110 km north-east of the Lake Torrens South area, while targeting a stated commercial threshold heat flow of 90mW/square m.