[ Note - here is Part 2 of the abstract relating to 2 separately indexed parts ]. A new joint venture with Barrick Gold, pertaining to the renewed (as EL 3424) tenement, was signed on 8/2/2007, after which that company as operator undertook a 749 line km airborne magnetic survey and a ground gravity survey (in two stages) across the licence. The aeromagnetic data was acquired in January 2007 along 150 m spaced north-south flight lines using a 20 m sensor height. The first survey of 160 gravity stations, acquired by Haines Surveys during March-April 2007, was read at 400 m spacing over the eastern part of EL 3424; then, following the completion of an Aboriginal Heritage survey over Yankunytjatjara - Antkirinja Native Title land in the western portion of the licence, an additional 204 gravity stations infilling historical coverage to 500 m spacing were separately read there by Atlas Geophysics in June 2007. This gravity work revealed several features of interest occupying interpreted favourable structural positions, and so deep drill tests were planned for these. A possible buried IOCG (iron-oxide-copper-gold) type mineralised system represented by one coincident gravity-magnetic anomaly was tested between November 2007 and January 2008 with a single rotary mud/diamond drillhole (BCMRD0001), drilled vertically to a TD of 750.1 m, including 392.4 m of precollared and cased-off non-core hole drilling through the Great Artesian Basin section. The HQ/NQ2 diamond tail penetrated 350 m into a package of weakly altered (sericite-chlorite+-hematite+- carbonate+-albite) gneissic ?Palaeoproterozoic rocks of Peake and Denison Inlier type, approximately 250 m shallower than was modelled. Such an outcome suggested to Barrick Gold that the Mount Carulina gravity anomaly is probably the result of uplifted/or a palaeo-topographic high of Peake and Denison basement, rather than it being caused by dense haematite breccias associated with IOCG mineralisation. The basement rocks contain minor brecciated intervals and numerous thin cross-cutting pegmatitic /granitic dykes. However, inspection and sampling of the drill cuttings and core from BCMRD0001 recorded no significant mineralised or assayed intercepts. A number of drill cuttings and drill core samples were submitted for petrographic examinations, and others were sent off for petrophysical property measurements. In addition, three diamond core samples of the basement rocks from Platsearch's CAR1 drillhole were taken from storage in August 2008 and submitted for radiometric age dating. A trial 30 line km magnetotelluric survey was carried out over the Mount Carulina gravity anomaly during April 2008, to try to spatially delineate the top-of-basement contact, but the method clearly failed to penetrate through the thick conductive Mesozoic Bulldog Shale which covers most of the tenement and surrounding Oodnadatta area. In view of the disappointing results from the latest work, Barrick Gold decided early in 2009 to withdraw from the joint venture, after completing final rehabilitation of the drill site in January. No further work took place on EL 3424 during its fourth year, and tenure was allowed to lapse at the licence anniversary without renewal being sought.