As part of the ongoing Challenger Area Joint Venture with Southern Gold intended to complete brownfields exploration near the mine and to expedite greenfields exploration of the Christie Domain for Archaean metamorphic/hydrothermal gold, work carried out during the fourth year of this JV has consisted mainly of continuing geochemical and drilling evaluation of an inventory of gold-in-calcrete prospects. Infill calcrete geochemical sampling was performed over 16 prospects that have been scheduled for later first-pass RAB drilling, while some reconnaissance multi-element surface media sampling was also done in various places to confirm existing calcrete, soil, rock chip or lag sample gold and pathfinder element anomalies. A programme of partial leach orientation soil geochemical sampling was conducted over a conceptual fold axis-related target lying along strike from the Campfire Bore and Mainwood prospects. 177 x minus 80 mesh surface soil samples were collected on a 200 m x 200 m grid. However, the assay results were difficult to interpret due to an extremely low order gold response of the order of 0.5-1.0 ppb Au. By comparison, the mobile metal ion (MMI method) surface geochemical surveys conducted over the Challenger deposit prior to mining also produced relatively weak gold values, but in the order of 5 ppb Au. Therefore further investigations into the gold exploration applicability of both of these analytical methods are still regarded as necessary. During July 2009 Southern Gold finished its resource definition drilling at the Golf Bore deposit when it completed 13 RC holes for a total penetration of 2026 m, plus one RC precollared NQ diamond cored hole to TD 136.3 m, to delineate the down plunge positions of gold ore shoots within the three main mineralised zones at this prospect. This drilling was a technical success in revealing the presence of low grade gold in small mineralised bodies at the interpreted deeper shoot positions, but also further demonstrated the subsurface extent of complex deformation and transposition of the lodes associated with this particular orebody. An estimate of the inferred mineral resource for the Golf Bore prospect was calculated by Runge Ltd during December 2009. The shear hosted mineralisation at Golf Bore is made up of numerous moderately dipping (60°), sheared auriferous envelopes that strike at 048° and dip to the north-west. The envelopes vary in thickness from 1-20 m, with a typical width of 9 m. The chosen resource model covered a 1110 m lateral strike extent, while its vertical depth extent was 120 m from surface (i.e. between approximately 160m RL to 40m RL). Drillholes used in making the resource estimate included 2 surface diamond drillholes, 91 RC drillholes and 66 aircore drillholes having trajectories lying within the resource wireframes. The inferred resource figure arrived at for Golf Bore is 3,236,000 tonnes grading 1.0 g/t Au (at a 0.5 g/t cut-off), for 102,600 ounces of gold contained within the combined supergene oxide and veined fresh bedrock zones. At present the gold exploration joint venture partners believe that the brownfields potential for finding shallow oxide gold resources and defining high grade primary veins and ore shoots has largely been determined at Golf Bore, and is also well advanced at three other mature prospects, namely Mainwood, Typhoon and Monsoon. Considerable knowledge about the regional mineralisation style and prospect scale geology has been acquired which suggests that no simple orebodies exist there, and that the complex nature of the mineralised systems will preclude carrying out cost effective drill testing beyond that which exists now. The only remaining possibility for exploring individual subsurface targets effectively would be to conduct directional diamond drilling on a closed spaced format. It is envisaged that the budget required to conduct deep extensional diamond drilling at the scale needed at, say, Golf Bore could be used to greater effect by RAB drill testing the higher order geochemical targets lying in closer proximity to the Challenger mill. A longer term exploration plan is envisioned that will encompass drill testing of the inventory of existing geochemical targets and those which may yet be generated by applying current and next generation exploration techniques such as partial leach assays, biogeochemical sampling and deflation lag sampling. It is presently thought that much potential for making significant gold discoveries still remains at the numerous untested geochemical anomalies and regional geophysical prospects. Since the commencement of Iron Road's joint venture with Dominion Mining on 1/8/2008, to explore for economic near-surface deposits of coarse-grained magnetite ore within a group of five central Gawler Craton tenements, all activities have been restricted to Mulgathing EL 4014 situated about 200 km south-west of Coober Pedy, because this area of gneissic basement rocks surrounding a known such iron ore occurrence at Mount Christie was considered the most prospective. Regionally, the basement rocks in the broader Mt Christie area belong to the late Archaean to Palaeoproterozoic Mulgathing Complex, and comprise granitoids and felsic gneisses which contain horizons of magnetite gneiss that are interpreted to be the deformed and metamorphosed remnants of protosedimentary banded iron formations (BIF). New work carried out by Iron Road acting as the joint venture operator has included reconnaissance rock chip sampling, the conduct of detailed aeromagnetic and ground gravity surveys, and Stage I drilling of selected geophysical targets obscured by Phanerozoic cover. The drilling identified good potential in the basement rocks for proving several economic occurrences of magnetite ore, especially at the Boomer prospect, where downhole samples of BIF returned an average grade of 27.3% Fe. The magnetite mineralisation is overlain by a secondary capping of haematite-rich iron mineralisation that appears to be restricted to the near-surface (palaeo) weathering profile within which magnetite has been progressively replaced by haematite (martite). 252 rock chip and grab samples collected from mainly in-situ iron formations at 10 localities returned an average iron ore grade in outcrop of 53.4% Fe. During September 2009 a 5320 line km detailed airborne magnetic/radiometric survey was flown over a 26 km x 14 km area covering most of the known iron-rich mineral occurrences, with a 50 m north-south flight line spacing and 35 m sensor height above the ground surface. During December 2009 semi-regional gravity data were acquired over a 12.5.km x 13 km area containing interpreted buried BIF strata that had been delineated by the new detailed aeromagnetic data. 6368 gravity stations were read on three separate 400 m x 50 m grids, with the gravity coverage closing in to 200 m x 25 m over potential ore-bearing structures. The combined geophysical datasets were interpreted by consultants Hawke Geophysics, who generated 10 preferred drilling targets. During March-May 2010, 16 traverses of RC percussion drilling (71 inclined holes with a total penetration of 6101 m) were completed across these high priority targets, named Boomer, One Oak Hill, NW Fingerpost Hill anomalies 1, 3 and 4, North Fingerpost Hill, George Hill South anomaly 2, Mount Christie, Christie Flats and Christie Extension. At all these targets the drilling encountered magnetite-gneiss capped by a 10 m to 55 m thick regolith zone of oxidized haematite-rich material. The interpreted true thickness of individual magnetite gneiss units is typically in the range 10-60 m, but significantly wider zones are present in places that have structural thickening due to folding and faulting of the rocks. This is particularly evident at Northwest Fingerpost Hill anomaly1 and at Boomer. Preliminary Davis Tube Recovery tests are presently being conducted on the RC drillhole samples to gain information applicable to the design of ore beneficiation processes.