An area located immediately west of Lake Callabonna has been explored for possible economic sedimentary or calcrete uranium deposits, that may have formed within Quaternary fluvial channel fill sediments in proximity to some exposed radiogenic portions of the Proterozoic Curnamona Craton basement. The nearest eroding potential uranium source rocks lie ~30 km away to the south-west. Following a review of past uranium exploration reports for the area, and interpretation of the available airborne radiometric data, licensee Red Metal decided to do some scout aircore drilling of the major Yerila Creek channel structure in the northern half of EL 3374, looking for calcrete-cemented Quaternary fluvial sediments which might host uranium. During June 2006, 15 vertical aircore holes were completed for a total penetration of 387 m. No significant thickness of calcrete was encountered, and chemical analyses of the channel sediments did not report any uranium. It was then decided to alter the exploration philosophy, to address potential Beverley style sedimentary uranium targets in the deeper Tertiary palaeodrainage system. To map the buried basement topography and define the distribution and thickness of Tertiary palaeochannels, part of a regional airborne EM survey was flown over all of the licence area during November 2007, whereby 808 line km of REPTEM coverage were acquired at 500 m flight line spacing. Following Red Metal's interpretation of the processed AEM data, the company drilled 2 vertical open rotary mud holes for 442 m during late August 2009, to test targets within the inferred Namba Formation sequence (the equivalent of the Beverley deposit host). Downhole radiometric logging was performed on the successfully completed holes, but only minor gamma ray anomalism was recorded. One important conclusion which Red Metal made, with importance for future exploration, was that airborne EM can be used to successfully map basement unconformity structuring that corresponds to significant displacements of the Eyre Formation-Namba and Eyre-Cretaceous stratigraphic boundaries. Also, it was thought that more subtle features evident in the AEM response may relate to current drainage, and thus by default, due to structural control, may also indicate the general locations of better-developed occurrences of Namba palaeochannel sands. After farminee Cameco chose to exit the Lakes North Uranium JV Project, Red Metal unsuccessfully sought to attract a new joint venture partner. Eventually, it was decided to surrender tenure.