An area located to the west and south of the Algebuckina Inlier of the Proterozoic Peake and Denison Ranges, which is centred approximately 50 km south-east of Oodnadatta, has been explored for possible roll-front style sedimentary uranium deposits that may have formed within oxidised Mesozoic sandstones which rest unconformably on the Proterozoic basement, since the latter comprise some rocks known to have high background levels of contained uranium. Because combined high uranium-thorium radiometric anomalies in the basement did not appear to have been followed up by previous companies, there was also believed to be good potential for finding a granite-hosted bulk tonnage primary mesothermal uranium deposit similar to that being exploited in Namibia by the Rossing mine. During licence Year 1, Red Metal completed a review of the previous exploration within the area. Available data for historic drillholes which had intersected the target Jurassic Algebuckina Sandstone showed that it contains pyrite and organic matter in some areas, and that thick sequences of oxidised Algebuckina Sandstone flank the radiogenic basement rocks. This setting, when combined with a proximal radiogenic granitic basement provenance, was interpreted to be conducive for the formation of both roll-front style sedimentary uranium deposits and also palaeodrainage-controlled sandstone and conglomerate hosted uranium deposits. During licence Year 2, Red Metal contracted the acquisition of a reconnaissance gravity survey along lines crossing known major fault zones within the tenement, in an attempt to define any inferred buried mafic/ultramafic intrusive rocks that might contain possible magmatic nickel-copper mineralisation. 445 new gravity stations were read by Haines Surveys during May 2006, at station spacings of 200 m x 1 km or 100 m x 400 m. In December 2006, during licence Year 3, the licensee drilled 2 vertical rotary mud exploratory holes with a combined total penetration of 147 m to test widely spaced uranium targets lying to the west of the Algebuckina Inlier. The cover sequence drilled consists of thin Quaternary soil and ferricrete up to 5 m thick, overlying in turn Cretaceous Bulldog Shale, Cretaceous Cadna-owie Formation, and Jurassic Algebuckina Sandstone, that were deposited on weathered doleritic or schistose basement. No signs of uranium were detected from downhole wireline geophysical logging. During 2007-2008, Red Metal began pursuing its other exploration objective of discovering iron oxide - associated copper-gold (IOCG) type mineralisation that could have formed immediately adjacent to the north-eastern margin of the Gawler Craton around the northern limit of the Peake and Denison Inliers, which comprise a series of outcropping north-westerly orientated and fault bounded wedges of Palaeoproterozoic metamorphic basement rocks (Peake Metamorphics) that have been intruded by granitic and mafic rocks of Palaeoproterozoic and Mesoproterozoic ages. In August 2007, the company flew a 200 line km helicopter-borne RepTEM survey along 500 m and 1 km spaced north-south flight lines, using a 30 m sensor elevation above the ground surface, to try to map the concealed basement topography. In December 2007, a second, detailed gravity survey was acquired over two prospect areas on EL 3227, aiming to to delineate potential IOCG targets. 323 gravity stations were read at 200 m x 400 m and 200 m x 800 m spacings, as part of a larger 892 station coverage that extended onto the company's adjoining EL 3226. In April 2008, to begin investigating three selected basement gravity anomalies, Red Metal completed rotary mud precollar drilling of 3 holes for 197.6 m, which included obtaining cored tails of 1.5 m length in each hole. No anomalous geochemical values were returned from assaying of samples from the drill cores. Within the cover sequence, no anomalous downhole gamma ray log responses were recorded. No further work took place on the subject licence over the period 2008-2014. Red Metal said that it was waiting on the logistical availability of a suitable diamond drilling rig in order for it to begin deepening the three IOCG exploration precollar holes. Later, the drilling still did not eventuate due to the impact of the Global Financial Crisis and the licensee's inability to secure a joint venture partner to help fund the programme. Finally, Red Metal decided to surrender the tenement and focus its attention on its other SA exploration licence holdings.