Exploration of a small area surrounding Kolendo Homestead has focussed on potential iron oxide - associated copper-gold (IOCG) style mineralisation and epithermal style gold mineralisation associated with the Gawler Range Volcanics (GRV). The licence area lies on the southern margin of the GRV, which may have formed a seal for mineralising fluids. Zones of demagnetisation along structures and flow fronts suggest alteration and escape of these fluids from the sealed system. This setting has the potential to form large gold deposits due to the focussing of mineralising fluids over a long time span. Monax Mining's interest at Kolendo was centred on its recognition of an anomalous magnetic low which conceivably corresponds to a junction between north-east and north-west trending structures in the basement rocks. This region of relative demagnetisation may potentially represent a region of epithermal fluid flow and associated gold mineralisation. In addition, CRA Exploration in 1990 had identified a north-west trending 1 km x 500 m subcropping quartz vein at its Kolendo prospect located approximately 2 km south-west of Kolendo Homestead. Reported traces of visible sulphide plus anomalous copper geochemistry were considered by Monax to warrant fresh investigation. No field work was undertaken during the first two years of tenure, owing to emergent pressing exploration commitments elsewhere that diverted Monax's attention to its Parndana, Punt Hill and Waddikee project licences. But during June and August of 2009, the third year, the licensee undertook a geological reconnaissance, limited rock chip sampling of quartz veins and haematitic float (12 samples) and detailed grid-based soil sampling (112 samples) over possible epithermal mineralisation at the Kolendo prospect. One rock chip sample with a slightly elevated copper assay value (1373 ppm Cu), and another having an elevated molybdenum assay value (690 ppm Mo) were detected. However, no significant assay results were yielded by the soil samples collected in the broad alluvial valley between the two anomalous sites of outcropping volcanic rocks. Because of the poor results obtained from the soil sampling, it was decided to surrender the licence.