An area centred approximately 40 km south of the Andamooka Opal Field and 50 km south-east of the Olympic Dam mine is being explored for possible buried economic Olympic Dam or Prominent Hill type IOCG-U mineralisation as well as for possible stratabound base and precious metal deposits of Mount Gunson or Emmie Bluff type. There is one deep drillhole from past exploration programmes located within the Glenside tenement. Vertical percussion/diamond cored hole DRD 1 was drilled by Western Mining Corporation (WMC) in 1980 to a total depth of 1192 m, terminating in granitic basement. Anomalous copper mineralisation was identified within the basement, grading 0.38% Cu over a 6 m wide interval from 1140-1146 m depth. It is associated with haematite-magnetite and pyrite (-chalcopyrite) veins. Licensee Uranium Exploration Australia Limited (UXA) started its field work during February 2006, when geological reconnaissance mapping and a ground scintillometer survey were conducted at selected airborne geophysical anomalies. Any anomalies showing total count >2 times background radiation levels at surface were then geochemically sampled, with 14 soil and rock chips collected for chemical assaying besides being subjected to hand-held spectrometer scans for assessing their K/Th/U content. Several of the samples are marginally anomalous in uranium (i.e. having >2 ppm U), or exhibit weakly elevated cobalt >10 ppm, zinc >50 ppm and an iron content above 25%. In early October 2006, licensee UXA proceeded to drill a single vertical exploratory hole at a site near Hardy's Dam, located 10 km north of Arcoona Homestead. This prospect lies on a magnetic trend running up from and situated approximately 20 km north-west of the Oak Dam Cu-U-Fe prospect. DDH HD1 was RC precollared to 220 m depth, before being diamond NQ cored to a total depth of 301 m. The hole intersected Adelaidean Arcoona Quartzite from surface to 276 m, and then remained within Tregolana Shale to TD. No significant assay values were returned from the uphole drill cuttings collected over 2-metre intervals, but a trace of silver (0.1 g/t Ag) was recorded from 22 m depth. The drill core sample assay results obtained subsequently were uniformly disappointing. During licence Year 2, a regional ground gravity survey was acquired in four periods from August to October 2007, with a total of 748 stations read on two base grids and three later grid extensions. 136 stations were infill, at 500 m x 200 m spacing, to the main 1 km x 250 m grid layouts. The new gravity data enabled the generation of IOCG drilling targets where coincidence of discrete gravity anomalies with strong magnetic trends was evident. One gravity high anomaly that UXA identified coincides with a lineament feature recorded in 1974 by WMC geologist Tim O’Driscoll. A second lineament was recorded by him in the southern portion of the tenement, but infill gravity acquisition was deemed necessary to provide detailed resolution of the gravity response there. The resultant Bouguer gravity image of the merged data highlighted the low gravity amplitude in the eastern half of the tenement (down to -31.1 mGal). The northern-eastern part of the tenement displays a higher gravity response (-24.8 mGal). During February-March 2008, a further detailed ground gravity survey was acquired with a total of 667 new stations read. The survey was designed in part to infill existing coverage and also to extend the regional coverage southwards. This survey utilised a combination of 800 m x 800 m and 400 m x 400 m grid spacings, with some 200 m station intervals. An extension was later made in July 2008 to the north-western side of this grid, that used NE-SW lines with 1 km line and 250 m station spacings, to define a weak coincident magnetic and gravity signature that occurs in a zone of interpreted faulting in the south-western corner of the tenement. Gravity infill at 100 m station intervals was carried out along the length of a proposed magnetotelluric (MT) test line which was enclosed by the survey coverage. The MT data profile was acquired during July 2008 by Zonge Engineering, with the line running in a northwest-southeast orientation south of a “mapped” sheetwash. This had been interpreted as an ancient drainage system due to its apparent relationship to basement faults. The test scenario placed the line across basement magnetic and gravity anomalies and cross-cutting structure, but was mainly expected to detect conductive anomalies in the overlying sediments. The line was 2.8 km long, with soundings recorded every 200 m along the line. Subsequently, Zonge Engineering provided UXA with a model of the MT test line processed data, which correlated well with known downhole geology encountered in WMC HWD1 and in HD1. Although no significant conductive anomalies were detected, the AMT method appeared to have been successful in penetrating and delineating approximately 500 m thickness of cover sediments. To test one of five proposed drill sites located on Tim O'Driscoll's lineament feature which runs up into the south-eastern corner of EL 3470 from the mineralised Oak Dam structure, a single, near vertical exploratory diamond cored hole, 08GL01, was drilled by UXA during early May 2008 on the GL17 gravity sub-anomaly target, to a total depth of 999.6 m, and was terminated within variably haematite and carbonate-altered Gawler Range Volcanics. Basement comprising this unit was reached at 550.9 m depth. The volcanic rocks appear to be highly fractured in discrete zones over the gross depth interval 800-950 m. Drill core sample assaying failed to reveal any significant geochemical anomalies, and no anomalous radioactivity readings were obtained from any of the drilled lithologies when the recovered drill cuttings and core were scanned with a scintillometer. During the fourth licence year, UXA acquired an audio frequency magnetotelluric survey in the south-western corner of the tenement in April 2009. It comprised two parallel 3 km long lines of AMT readings taken at 200 m station spacing, for a total coverage of 6 line km, with the survey designed to complement MT data acquired during the previous year which had targeted a possible uranium mineralised buried ancient drainage system, a feature that was suspected due to the apparent relationship of mapped sheet-wash surface sediments to basement faults. The survey data failed to disclose any significant conductive zones within sediments directly overlying the crystalline basement. Furthermore, 2D inversion modelling of these data suggested that a thick homogeneous sedimentary sequence underlies what is interpreted as the Tregolana Shale, which sequence is likely to represent Pandurra Formation. This would mean that the top of basement setting may be too prohibitively deep (?~550 m) to explore for fault breccia - hosted or unconformity - related uranium. During licence Year 5, after new entrant Straits Exploration Australia ('Straits') had farmed into the subject licence, the following activities occurred: - Straits compiled and reviewed the existing mineral exploration data which was available from UXA and Primary Industries and Resources South Australia (PIRSA); - UXA's previously acquired processed gravity data was compiled into Straits' South Australian exploration database; - 1:250,000 scale magnetic & gravity images relating to the EL 3470 area were produced by contractor Southern Geoscience; - inversion modelling of the gravity and magnetic data was completed over those areas where there was sufficient historic data coverage; - preliminary drill targets were identified from the geophysical models; and - an application was made for the grant of a Subsequent Licence to EL 3470.