EL3466, located approximately 10 km west-southwest of Iron Knob, was taken up primarily to search the Proterozoic basement for possible buried Olympic Dam style Cu-Au-U mineralisation. Secondary exploration targets included orogenic lode gold mineralisation and stratiform lead-zinc-silver deposits. During August-September 2006, licensee Intermet Resources conducted an infill ground gravity survey of 709 stations read on a 1 km x 1 km grid, to complement a previous survey by PIRSA which had been acquired on a 2 km x 2 km grid. The infill survey highlighted three discrete positive gravity anomalies that were all selected for drill testing. A diamond drilling programme of 3 holes for a total penetration of 1779.55 m, conducted during the period November 2006-March 2007, which was partly funded by the SA Government's PACE Initiative, failed to find any significant mineralisation. The targeted gravity anomalies were interpreted to reflect magnetite-rich granite. Additional work conducted on the licence included calcrete sampling (92 samples), rock chip sampling (13 samples), and soil sampling (250 samples). The surface geochemical sampling did detect weak gold and base metal anomalism, which was not followed up. After Intermet Resources was taken over by Hillgrove Resources in September 2007, a Hillgrove management review of all of its newly acquired projects concluded that Lake Gilles was of low priority for allocating further exploration funds, for two main reasons: - the potential for discovering IOCGU mineralisation had been downgraded by the drill tests of the most prominent gravity anomalies in the area; and - the principal metallic commodity focus for Hillgrove is with copper and gold, and the Lake Gilles area was deemed to have a lower prospectivity for these metals compared to Hillgrove's other projects located both in Australia and Indonesia.