Trafford Resources Ltd ('Trafford'), the owner since March 2007 of the seven exploration licences comprising the Wilcherry Hill Project, has as its primary focus exploration of these tenements for economic precious and base metal deposits. The regional geology of the project area is dominated by metasediments of the Palaeoproterozoic Hutchison Group, which unconformably overly early Palaeoproterozoic Miltalie Gneiss and Achaean granulites and gneisses of the Sleaford Complex. The Hutchison Group consists of metamorphosed clastic marine sediments, iron formations, carbonates and mafic volcanics. Deformation and metamorphism of these rocks occurred during the Kimban Orogeny (1850-1700 Ma) and was accompanied by the syntectonic intrusion of the Moody Suite granites. The result is a north-westerly trending igneous - metamorphic complex of metasedimentary rocks, amphibolite, schist, gneiss and granite. These older basement units are overlain by the younger, Mesoproterozoic Gawler Range Volcanics and are intruded by the then contemporaneous Hiltaba Suite granites. Weak basement magnetic signatures seen over much of the Wilcherry Hill tenement EL 4162 and in the south-eastern corner of the subject Peterlumbo Hill EL 4421 suggest that large granitic bodies are present at relatively shallow depths; this subdued magnetic alteration imprint has developed from their fluid and thermal interaction with the surrounding country rock. The lack of a gravity signature in these areas supports this theory. The whole rock geochemistry of many Hiltaba Suite granite bodies shows a geochemical correlation with that of the granites located at Wilcherry Hill, allowing for the possibility that the fluids that drove substantial mineralisation at Olympic Dam, and elsewhere on the Gawler Craton, may have played a major part in the genesis of the Weednanna and Telephone Dam mineral deposits previously found within the project area. Trafford's ongoing technical reviews of historical exploration data have continued to highlight new Au, Cu-Au, Pb-Zn-Ag and manganese prospects within the Wilcherry Hill tenements that require follow-up exploration programmes. A detailed low level aeromagnetic/radiometric survey was flown for Trafford over its Peterlumbo Hill EL by Daishsat Aerosystems during October 2011. Prior aeromagnetic survey data was also obtained and stitched together to provide a large regional overview of the magnetic fabric and the regional structural setting, with the aim of better definition of basement structures and the nature of prospective lithologies and their alteration patterns under cover. Of particular interest was the prominent NNW structural corridor that contains Investigator Resources' recently discovered Paris prospect, a blind, high grade epithermal subvolcanic silver-gold occurrence, since it projects further to the SSE into the contiguous subject tenement. A geophysical consultant's interpretation of the 2011 survey data for Trafford (included herein) defined a major circular magnetic feature that is located near an intersection of this major NNW trending structural corridor with another, NNE trending structural corridor. Geophysical modelling of the discrete feature near Oxy's Bore indicated that it is 300 m in diameter, appears to extend downwards 600-800 m sub-vertically, and its top lies approximately 300 m below the surface. The Paris mineralised centre is located approximately 15 km to the NNW of this feature. It was postulated that this probable structurally controlled ?intrusive body could be a Cu-Au mineralised breccia pipe similar in style to Oz Minerals' Carrapateena deposit, or alternatively, could be a breccia pipe associated with a much larger and deeper IOCGU mineralised system. It was recommended that the Oxy's Bore magnetic anomaly be tested by drilling a single diamond cored hole to 600 m depth, on a inclination of 60 degrees towards 225 degrees True azimuth (MGA Zone 53). After DMITRE approved a proposal put forward by Trafford for the grant of a PACE drillling project subsidy to assist in defraying the cost of testing the Oxy's Bore greenfields exploration target, drilling commenced there on 10/7/2013 and was completed to a total depth of 539.6 m on 3/9/2013. The hole was drilled by contractor Australian Mineral and Waterwell Drilling in two stages, as a RC pre-collar taken to 143 m depth, and a NQ diamond cored tail cut to the end of hole. Drilling conditions were found to be difficult while progressing for about 360 m through highly fractured and weathered quartzite, since the physical nature of that particular rock type caused significant core loss, and this unforeseen handicap made the whole project (designated DPY7-30 by DMITRE) run over budget and over schedule. The first 406 m of the hole passed through a fractured, weathered, and, in some intervals, slightly altered quartzite. This unit was interpreted to be Warrow Quartzite, which is part of the Hutchinson Group. At 406 m hole depth, a medium grained, magnetite-rich skarn was penetrated. This depth also represented the top boundary of a zone of change from a highly fractured and moderately to highly weathered saprock profile to the fresh bedrock, effected in the space of a few metres. Present in the 3-4 m hole interval cored prior to entering the fresh skarn was a transition zone comprised of semi-weathered magnetite, magnetite clays and goethite clays, along with massive, possibly secondary, sulphides (as core sections up to 10 cm in length and pyrite-dominated). The magnetite-rich skarn unit continued to 427.5 m hole depth. The skarn shows classic Wilcherry Hill - type mineralogical features including quartz, fluorite and carbonate veining having a minor pyrite association (some veins showed alteration halos), multiple mineralisation phases, presence of calc-silicates, actinolitic alteration and minor faulting. The assay results obtained from samples of this skarn mineralisation returned 20 m @ 31% Fe plus more significantly, elevated gold up to 0.16 g/t Au, copper up to 0.10% Cu, zinc up to 1.34% Zn, tin up to 0.49% Sn, and tungsten up to 0.68% W. The cored depth interval 427.5-433 m represents a contact with a mafic intrusion. Intense shearing is evident within the mafic body, which appears almost glassy in some areas along the initial contact, showing minor swarm-like quartz veining with minor associated alteration and one 3-4 cm wide orange-yellow sphalerite vein. No other base metal mineralisation was observed. The core interval from 433 m hole depth to EOH contains a mafic rock plus calc-silicate unit. It shows the effects of various deformation events, and has quartz and carbonate veining with associated minor pyrite mineralisation, and actinolitic, biotitic, and siliceous alteration. Two zones within the unit possess epithermal-like properties, namely, carbonate/dolomitic textures and associated pyrite and amethyst. Within the core depth interval 508-513 m a brick red, iron flooded / replacement zone is evident. This does not resemble classic IOCG style haematitic alteration: however, pyrite is present in small amounts. Since the completion of drilling hole 13OBDH001, the University of Adelaide’s downhole logging contractor (Endeavour Geophysics) has performed various downhole logging surveys as part of a University-funded mineral research programme. The survey tools that were used included a Gyroscope, MST (resistivity, temperature, deviation, spontaneous potential and gamma radiation), Full Wave Sonic, Acoustic Televiewer, MIG (Magnetic susceptibility and conductivity) and Dual Density caliper, the recorded data from which will assist Trafford in its analysis of the hole geology and geophysics as well as possibly indicating further targets for follow-up drilling. The research work falls within a collaborative programme being managed between DMITRE and the South Australian Centre for Geothermal Energy Research at the University of Adelaide, and is funded by AuScope through their Australian Geophysical Observing System (AGOS) project. Trafford understands that the collected data and the research group's interpretation report will soon be made publically available by DMITRE. No IOCG - related breccia pipe or intrusive rock mass was seen in the PACE drilhole. Despite the drill core assay results indicating that there is likely to be an occurrence of skarn mineralisation in the hole's immediate vicinity, no economic grades were returned from core samples, and therefore Trafford does not currently intend to pursue any follow-up drilling. Geophysical modelling of the magnetite-rich zone encountered at 406-428 m hole depth has adequately explained the targeted magnetic anomaly source. The main value of the subject PACE drilling lies in its revelation to explorers of very encouraging concealed basement geology in the Peterlumbo Hill region, because to date, there are very few deep drillholes or diamond-cored mineral exploration holes in existence there.