An area of Cretaceous and younger cover located close to the south-western margin of Lake Eyre North, where no previous drilling had occurred, was taken up to explore for possible buried IOCG deposits hosted by the underlying basement, and for possible roll-front type sedimentary uranium mineralisation in the arenaceous cover units. The progress of exploration activities was: 2006 – 2007 • A compilation and review of open-file reports covering the subject project ground was completed by John Beeson of Jigsaw Geoscience Pty Ltd; • A compilation and review of open-file geophysical data was carried out by Southern Geoscience Consultants (SGC), which included an evaluation of the data's utility, and recommendations were made with respect to expected mineralisation styles. The data that was reviewed included airborne magnetic and radiometric, gravity, ground geophysics and remotely sensed data (Landsat, SRTM); • A detailed gravity survey carried out on EL 3650, as infill to and logistically a part of the 2007 PIRSA Northern G2 PACE Gravity Survey. A total of 605 stations were read at a grid spacing of 750 m x 750 m during August 2007. The processed new gravity data was reviewed by John Beeson. 2007 – 2008 • SGC undertook a compilation and review of open-file geophysical (airborne magnetic, radiometric, gravity, ground geophysics) and remotely sensed (Landsat) data applicable to the now expanded footprint of the Lake Eyre Project tenements (EL 3650 plus new ELs 3957 and 3958); • Final processing of regional gravity data covering all three tenements, collected as part of the PIRSA Northern G2 PACE Gravity Survey, was carried out by SGC; • An in-depth review and interpretation of geological and geophysical data from the Gawler Craton performed by John Beeson (that included study of the recently completed SGC work above) led to the development of a Carbon Energy “in house IOCG mineralisation model” which was based on the following criteria: gravity, magnetic, lithological and alteration signatures + radiometric anomalies + structural setting; • Exploration targets were re-defined using this updated exploration model; • Four high priority and twelve moderate – low priority targets were delineated using the above model criteria; • A detailed gravity survey was conducted during September-October 2008 across three of the high priority targets, with readings made on 200 m x 200 m centres. A total of 788 stations were surveyed as follows: o EL 3650 target anomaly LE1 – 282 stations o EL 3957 target anomaly LE2 – 178 stations o EL 3958 target anomaly LE4 – 328 stations. Subsequent gravity anomaly data processing, interpretation and modelling by SGC downgraded anomalies LE1 and LE2, interpreting them as regional structural and stratigraphic features. No further work was recommended for either. Inversion modelling of the detailed gravity data collected over anomaly LE4 suggested that it may represent a dense IOCG mineralised body lying within an accessible depth range, based on the anomaly amplitude (3.5 mGal) and geometry. The anomaly source appeared to be shallower than was originally thought, with an estimated depth to top of 250–550 m, thus making it viable to drill. Ownership of the Lake Eyre Project tenements was transferred by Carbon Energy to Energia Minerals in late December 2009, following Energia’s successful public listing on the ASX. Delays in the formal transfer of tenements (completed by 16/8/2010) and in obtaining Aboriginal heritage land access agreements and site clearance approvals greatly inhibited Energia’s ability to promptly carry out on-ground exploration. Instead, all geological and exploration data were separately reviewed by two independent consultants to the new licensee, in a bid to generate additional IOCG targets prior to commencing the next phase of exploration. The data reviews highlighted the need for acquiring additional close spaced gravity data across selected gravity targets in the project area, to refine their source depth estimates for re-ranking them prior to drill testing. Consultant David Tonkin concluded that the depth to basement at the high priority LE4 gravity anomaly target could be around 450 m. Besides suggesting a revision to the existing target ranking, in view of the probably excessive basement depths estimated from geophysical models, he factored in his interpreted different basement geology characteristics (them being more similar to those of the Cloncurry IOCG terrain in Queensland). However, the plan to initially diamond drill at LE4 to a maximum depth of 550 m was retained by Energia, with the programme scheduled to take place during 2011. After further delays in finalising Native Title negotiations on land access, all of the priority target drill sites were cleared by local traditional owners in mid-November 2011, while in the meantime Energia attempted to attract other industry parties into a joint venture for sharing the cost of drilling three proposed exploratory diamond holes for 2000 m, to test basement features of varying depth on the LE4 prospect that had lately been delineated by further detailed modelling of the gravity data. During the first half of 2012, 30 reconnaissance soil geochemical samples collected from three traverses across the LE4 prospect were analysed, prior to Energia completing the drilling there of a single vertical rotary mud/diamond tailed hole to a total depth of 582.15 m (549 m precollared; 33.15 m HQ cored) during August 2012. Significant technical difficulties were encountered while rotary mud drilling through the Eromanga Basin artesian aquifer sequence, with losses of drilling mud circulation causing the hole to kick and flow groundwater, and in the process of regaining well control some equipment was lost down the hole. After passing through the cover sediments, and when the open section had been cased off, the drillhole entered pre-Mesozoic metamorphosed sedimentary basement at 494 m depth, which consisted of a monotonous, highly weathered, highly fractured metapelite extending down to 549 m, underlain by competent fine grained quartzite-metapelite. The recovered drill core, in which no mineralisation or rock alteration was observed, was measured at intervals for its specific gravity and magnetic susceptibility, and one sample of the basement lithology from 549 m depth was sent for petrological identification. Wireline geophysical logging within the drill rods of the entire hole was undertaken using gamma ray-MST and density tools. The petrologist classified the basement sample as being a quartz-albite-phlogopite-magnesite rich metasediment. The soil samples, plus the drill cuttings samples and drill core samples taken at 4 m and 2 m depth intervals respectively, returned no significant multi-element assay values. Portable XRF spectrometric scans of the drill cuttings and the downhole geophysical logs produced unremarkable results, with calibrated and drill string corrected natural gamma ray log readings staying close to background over the entire length of the drillhole, giving very poor log discrimination of lithotypes and contacts. It was concluded that a discrete basement high (drill core sample measured density 2.8 g/cc) was responsible for the targeted gravity anomaly. No further work was done on the four project licences after 21/10/2012, and their tenure was surrendered on 24/1/2013.