During August 2006, Australasia Gold acquired a 45% interest in the historic abandoned Murninnie copper mine (Private Mine 156) and a surrounding small exploration licence (EL 3542), which are located ~30 km south-southwest of Whyalla. In July 2007, an Agreement of Acquisition was completed between Australasia Gold Ltd and Murninnie Mining and Exploration, that gave Australasia Gold 90% interest in both tenements. The Murninnie deposit is of interest because of its grade and production history; its location within the Olympic Domain of the Gawler Craton; its association with a number of geological characteristics elsewhere associated with iron oxide copper-gold-uranium (IOCGU) mineralising systems; the absence of barren cover rocks; and the lack of any exploration or drilling to look for extensions of the deposit or to appraise the surrounding area. During Year 1 of its operatorship, Australasia Gold completed the following work; • collected and assayed 660 soil geochemical samples, • undertook geological mapping of selected sites, • conducted a 4.58 line km IP survey along three traverses over old mine workings, • conducted a gravity survey (244 stations read at 250/500 m x 1500 m spacing) to enhance definition of a known gravity anomaly, • drilled 80 inclined aircore holes for a total penetration of 1572 m, • drilled 5 vertical or inclined diamond holes consisting of 667.3 m of RC precollars and 630.4 m of coring. Information obtained by the soil sampling extended the zone of copper and gold anomalism associated with the historic mine workings along strike to both the north and south. Geological mapping of bedrock exposed within incised Recent stream valleys revealed that its dominant lithology is a mylonitised component of the Wertigo Granite. No evidence of copper mineralisation was observed. The dipole-dipole IP survey produced well-defined anomalies on each of the mine prospect traverses, which indicated that there was good potential for discovering primary Cu-Au mineralisation beneath the historical underground workings. The gravity survey profiles over the previously recorded gravity feature defined two distinct anomalies with differing character and depth to source. Both were later tested by diamond drilling. Aircore drilling undertaken along five traverses tested the strike extent of the coincident Cu and Au soil anomaly in areas to the north and south of the historical Murninnie mine workings. Whilst drillhole results did not warrant immediate follow-up work, they suggested, by element associations seen in downhole sample assaying, that mineralising fluids had passed through the gneissic rocks encountered. Diamond drill testing of the gravity anomalies with two vertical holes failed to identify their sources. But weak haematite alteration seen in the drill cores is associated with elevated Ag, Au, Cu and U, thus suggesting that mineralising fluids have affected rocks in the vicinity. Directed diamond drilling of three holes designed to probe beneath the old Murninnie mine workings on PM 156 encountered sheared granitic rocks. The chargeable IP anomaly identified at this level appears to be due to fine, disseminated crystalline graphite rather than sulphide mineralisation as had been hoped. Some copper carbonates were observed in the drill core as fracture coatings. The best copper intercept recorded was 1 m @ 0.9% Cu from 98-99 m in hole MDD003. During the second licence year, Australasia Gold: • conducted a second gravity survey to infill the prior survey's grid, • extended diamond holes MDD001 and MDD002 to greater depths, for a total of 842.9 m of NQ coring, • commissioned the detailed petrographic thin section examination of 30 drill core samples. 576 new gravity stations were read during January-February 2008 on two prospect grids [the 250 m x 1 km Moonabie grid lay on an adjacent licence, EL 3767]. The 250/500 m x 250 m Murninnie grid was intended to obtain more detailed information about the character and depth to source of the two anomalies at that prospect, because specific gravity measurements made on the drill cores from MDD001 and MDD002 had led to an amended gravity interpretation. This new interpretation predicted significantly greater drill depths of 750 m and 900 m required to reach the tops of the gravity anomaly sources. As it transpired, the two vertical damond drillhole extensions, carried to depths of 754.1 m and 856.1 m respectively, both failed to identify the source of the gravity anomalies. Lithologies encountered were predominantly granitic gneiss, made up of interlayered dark mafic schist and paler coloured granitic/pegmatitic gneiss. The rock is weakly to moderately chlorite - altered throughout, with sporadic zones of weak haematite and epidote alteration. There are minor mineralised zones, of trace pyrite and chalcopyrite mostly observed to occur on fracture surfaces. The haematite - altered intervals of drill core were found to have modestly elevated geochemical levels of IOCG pathfinder trace elements, which did provide support for the exploration model in use. During licence Year 3, prospective farminee Uranium SA flew part of an airborne EM survey over the subject licence area to complement its coverage of adjoining Mullaquana EL 3652. This low level helicopter-borne REPTEM AEM survey was carried out by contractor Geosolutions during September 2008, when in total 422.5 line km were flown on a variable grid spacing in order to achieve a better understanding of the basin fill sediments and regional structures within and affecting the Eocene Kanaka Beds of the Pirie Basin. No other work was undertaken during this year. No field work was conducted on EL 3542 during licence Year 4. Uranium SA did processing and interpretation of the new AEM data. During the fifth licence year, Uranium SA undertook pattern scout drilling and geophysical wireline logging of 12 open rotary mud holes totalling 1256 m during July 2010, to extend its regional exploration for possible economic buried sediment-hosted uranium mineralisation that might be present within the Tertiary strata on EL 3542. Other regional drilling was also being done by the company at this time, along the Spencer Gulf coastal plain in nearby exploration licences, to define sedimentary depositional environments, redox fronts and basement structures. During the first year of renewed EL 4804, in January 2012, part of a detailed low level airborne helimag/helirad survey was flown by Geosolutions for Uranium SA across all of the subject licence area. No other field work occurred at this time. Australasia Gold (SA) Pty Ltd had by this point earned 90% equity in the licence from the grantee private consortium. No work occurred in the seventh and final licence year. On 30/8/2013, Samphire Uranium Pty Ltd withdrew from the Murninnie Uranium Joint Venture Agreement that it had made in mid-2009 with the grant licensees and Australasia Gold (SA) Pty Ltd.