An area centred ~50 km north-west of Olary is continuing to be explored for possible buried economic Prominent Hill or Olympic Dam type iron oxide associated copper-gold (IOCG) breccia style mineralisation. The area is considered highly prospective for this style of mineralisation, since a number of similar but small discoveries had recently been made within the Olary region at Portia, Kalkaroo and White Dam. During the eighth year of tenure (2004-2005), on 8/7/2004, Southern Cross Resources Australia Pty Ltd (SXR) and licensee Equinox Resources Ltd (EQR) signed a Heads of Agreement giving SXR access to the subject EL 2896 to allow it to explore for and mine any Tertiary unconsolidated sediment - hosted uranium mineralisation. EQR retains the rights to all mineralisation formed in basement rocks, and will also receive a royalty from future SXR uranium production. No field work occurred at this time, but SXR reviewed the local geology and cover stratigraphy using PIRSA - generated datasets and open file company reports. It was found that several of 20 randomly sited historic drillholes had encountered palaeochannel sands in the Ethiudna area, which suggested that they might correlate with Eyre Formation sands that had previously been encountered by SXR on its adjoining tenements to the north, namely, EL 2956 Goulds Dam and EL 2978 Katchiwilleroo. It was envisaged that EL 2896 should contain the buried headlands of the Billeroo and Curnamona palaeochannel catchments, and because there are outcropping uraniferous basement occurrences within the licence, these may form sources for significant secondary accumulations of sedimentary uranium mineralisation there and nearby, including the known downstream - situated Goulds Dam deposit. A reconnaissance rotary mud drilling campaign along two traverses totalling ~10 line km was planned, to try to define buried palaeochannels. An Aboriginal heritage work area site clearance survey was conducted during October 2004 with representatives of the Adnyamathanya Native Title claimant group. No major cultural sites were identified, although some avoidable less sensitive places were noted. In February 2005, EQR applied to renew the licence for a ninth year, but over an area reduced in size from 917 square km to 778 square km [the second partial relinquishment for the tenement, comprising two small peripheral blocks located at the former area's south-western and north-eastern corners]. During licence Year 9, in July 2005, SXR initially drilled and geophysically logged 21 open vertical exploratory holes, for a total penetration of 2400 m, along two east-west orientated traverses, encountering a good grade intercept of palaeochannel uranium mineralisation in one hole, ETH017, i.e. 0.4 m @ 0.036% eU3O8 from the depth interval 135.86-136.26 m (the interpreted basal section of the Eyre Formation). This find was followed up by drilling 6 additional holes for 748 m during September 2005, but three of these holes had to be abandoned and so were ineffectual. All 24 of the successfully completed holes were terminated within basement. Drill cuttings sampling was done at 2-metre intervals. The geophysical wireline logging of holes used a gamma ray spectral tool (for equivalent uranium (eU3O8) grade determination), a guard tool, and an induction tool (for lithological characterisation). In addition to these tools, a PFN (prompt-fission-neutron) tool was run in one drillhole, ETH008, to measure U-235 fission events and thereby directly quantify the amount of uranium present. EQR did not undertake any exploration for basement-hosted mineralisation, but received from SXR the 24 bottomhole drill cuttings samples to later be assayed for IOCG pathfinder elements. During licence Year 10, in August 2006, a ground gravity survey of 390 stations was read on a 500 m x 500 m grid covering the northern part of EL 2896. This gravity survey was regarded as having been very successful in mapping palaeo-topography and basement structures, both of which control the palaeodrainage pattern and the loci of potential palaeochannel uranium entrapment and precipitation. Plans were made by SXR to fly an airborne REPTEM survey, but the chosen contractor was unable to begin work within the reporting year. During licence Year 11, on renewed EL 3714, the AEM and magnetic data were acquired during April 2007, when 886 line km were flown by helicopter along 81 east-west orientated flight lines 200 to 400 m apart, using a nominal 35 m sensor mean terrain clearance. The sampling interval along these lines was 8 to 10 m, pulsed at 25 Hz and 320 amps. The resulting AEM data were inverted via Layered Earth models before being interpreted. The position of the Billeroo Palaeochannel valley was clearly outlined, and a 12 km x 4 km section of it was chosen for drill testing. To improve the targeting of drillholes, an additional detailed gravity survey of 1431 stations was read during May 2007 to infill key anomalous locations to 100 m x 500 m precision. SXR/Uranium One was able to see a strong correlation between the gravity data and the RepTEM conductivity responses, however, the gravity also revealed a NE-trending structural framework. A rotary mud drilling campaign of 84 vertical open holes for 10,010 m was conducted by SXR/Uranium One during April through June 2007. Six of the holes had to be abandoned prematurely due to lost circulation. The rest of the holes were constructed, sampled and logged in the same way as previously. 16 traverses of varying length were drilled to explore prospective features identified in the AEM data, and interpretive cross-sections were generated from the stratigraphic and radioactivity data logged within each hole. The 2007 drilling encountered thick and well developed Eyre Formation palaeochannel sands, but the overall tenor of uranium mineralisation intersected was low. The only notable intercept of 0.55 m @ 0.04% eU3O8 was made in hole ETH053, again in a basal sand unit. Elsewhere this unit was usually either redox neutral or weakly oxidised, and its distribution appeared to be irregular and discontinuous because of many clay interbeds. The previously found uranium occurrence in hole ETH017 was twinned by drilling another hole, ETH094, collared 2 m away to the south-east, and it confirmed the exact same grade and thickness of mineralisation in the basal Eyre Formation position, i.e. 0.4 m @ 0.036% eU3O8. An interesting resistivity phenomenon was found to occur in a number of the 2007 drilled holes, whereby although the palaeochannel upper sands that were geophysically logged in these holes exhibited clay-like high resistivity/low conductivity log traits on the induction and laterolog traces, visual inspection of the corresponding depth interval drill chips confirmed the actual presence of clean, granite-derived sands. The log features have been interpreted as arising from electrical properties which are a product of the in situ texture of the sand grains, by considering the effects of ‘Formation Resistivity Factor’ as defined by Rider (2006), their contribution being strongly influenced by grain geometry, size and arrangement. The lack of success in finding significant uranium mineralisation was discouraging to Uranium One, and the company decided to shift its attention to working on other tenements rather than Ethiudna. At this stage of investigation it was thought possible that basement structures are important in the localisation of uranium mineralisation within the palaeochannel system. A hiatus in activity ensued during licence Years 12 through 14. During licence Year 15, Uranium One acquired part of a second, fixed wing airborne 25 Hz TEMPEST EM and magnetic survey. The ~397 line km survey portion flown over EL 3714 was completed during October 2011, and was designed to infill and complement data from the 2002 AEM survey flown for Southern Cross Resources and other regional public domain AEM data from the Geoscience Australia 2010 Frome TEMPEST survey, besides giving coverage of areas that were not included in the 2002 survey (i.e. most of EL 3714). The east-west flight line spacing was 500 m in the southern portion of the Billeroo Palaeovalley, and used a nominal sensor height above the ground surface of ~100 m. In the central portion of the palaeovalley, the flight lines were closed in to be 250 m apart. After completion of the whole 2011 survey, John Caon Geophysics was commissioned by Uranium One to compile all available geophysical data for the Gould’s Dam Project area and to make a fresh interpretation of the nature of the Billeroo and Curnamona palaeovalleys. Part of the brief involved modelling of the basement palaeotopographic surface, including identifying any basement structures that may have influenced the deposition of the palaeochannel sediments. Furthermore, because to date no significant accumulations of organic matter had been identified within the inferred southern extension of the Billeroo Palaeovalley on EL 3714, it was hoped that the reinterpretation of available geophysical data would be able to identify possible trap sites for organic matter reductants of migrating dissolved uranium, which would be targeted by Uranium One during future drilling campaigns. No field work occurred on the subject renewed EL 5043 during licence Years 16 through 18 (2012-2014).