A small licence composed of four separate sub-areas was taken up in the Moonta district to explore for possible economic IOCG or Cu-Ni-Co-REE mineralisation that might have formed in Proterozoic basement near the eastern margin of the Gawler Craton. Minotaur Exploration entered into a joint venture with licensee Red Metal to pursue IOCG targets, and acted as initial licence operator. During March 2011 an airborne EM survey was flown over the subject EL 4541 and adjoining tenements. 130 line km of AEM data were acquired along 250 m spaced north-south lines using a 40 m sensor height above the surface, with the aim of detecting possible buried massive sulphide mineralisation. Airborne magnetic data was simultaneously acquired, to refine the existing magnetic coverage. A biogeochemical survey was also conducted during July 2011 along four representative transects across each of the tenement subareas, with 47 samples collected from deep-rooted native Eucalyptus species (gracilus, socialis & torquata) and Casuarina pauper (black oak), to investigate the potential for finding IOCG and REE mineralisation associated with major faults and regional structural features interpreted from magnetic imagery. The plant leaf samples were prepared and analysed overseas for a suite of 53 elements using ICP-MS. Three preliminary conductive anomaly targets were selected as showing sufficient areal extent and shallow vertical depth of likely source, but all of them were subsequently shown to arise from cultural features, and thus did not warrant follow-up. The JV partners concluded that, although Cu-Ni-Co-REE geochemical anomalism is widespread in the Moonta-Weetulta district, the focussing mechanisms for economic mineralisation were not discernable from the work that they had conducted. Therefore Red Metal decided not to renew EL 4541.