Licensee Copper Range originally took up a group of three tenements located in central South Australia covering areas within and west of Lake Torrens, with the intent, much reinforced following the Carrapateena deposit discovery made in 2005, of targeting mainly base metal, precious metal and uranium mineralisation associated with iron-oxide-copper-gold (IOCG) systems hosted by Mesoproterozoic and Palaeoproterozoic basement rocks of the Gawler Craton. A secondary target was possible Athabasca Basin style buried uranium mineralisation associated with the unconformity between the Mesoproterozoic red-beds of the Cariewerloo Basin (Pandurra Formation) and the weathered older basement. Copper Range’s exploration strategy for detecting possible Olympic Dam, Prominent Hill or Carrapateena style IOCG deposits was to carry out detailed gravity surveys over inferred prospective targets indicated by zones of moderate to intense magnetic anomalism. Accordingly, over the period July through to December 2006, one such gravity survey was carried out over five separate areas located on ELs 3452 and 3490, when a total of 3031 stations were read at initial 800 m x 400 m spacing, subsequently infilled in selected places to 200 m x 200 m station spacing with an additional 1059 stations. Nine residual gravity anomalies, which were identified by consulting geophysicist Chris Anderson, required the acquisition of this more detailed infill gravity coverage to resolve their coherency. One of the anomalies (Alexandra, in EL 3490) did not survive further interpretation using the closer-spaced infill gravity data. The remaining eight anomalies, identified by Anderson as plausible drill targets, are of only low order magnitude, having amplitudes in the range of 1-2 mGal. In the second year of its project acreage tenure, during July-August 2007, Copper Range acquired a further 1002 infill gravity readings at 750 m x 750 m grid spacing, in conjunction with the acquisition phase of the SA Government's 2007 PACE Northern Olympic Domain (G2 Lineament Corridor regional 1.5 km x 1.5 km) Gravity Survey. The Copper Range data was collected on its tenements covering parts of the surface of Lake Torrens, namely EL 3783 (Lake Torrens A), EL 3784 (Lake Torrens B), EL 3785 (Lake Torrens C), EL 3798 (Lake Torrens D) and a portion of EL 3491 (Murdie Island). EL 3810 (Roxby Downs North) was also surveyed. During the 2008 reporting year, this new gravity data was integrated with the PACE survey data as well as with older PIRSA archival gravity data, by consulting geophysicist Jim Hanneson. Hanneson produced new Bouguer and residual gravity images for the region covered by the Copper Range tenements, highlighting anomalies of interest which were subsequently prioritised for drilling. During May-June 2007, Copper Range commenced direct subsurface exploration by drilled two RC pre-collared, vertical NQ2 diamond cored holes on EL 3452 to test two of its previously defined gravity targets. Neither hole encountered significant mineralisation. PADD 1, sited 4.5 km south-west of Andamooka Homestead, was cored to a total depth of 1101.4 m, penetrating Palaeoproterozoic granitoid basement at 1030.3 m. This target lies within basement in an interesting geological situation, adjacent to a major east-west trending structure, the Andamooka Fault, and close to the interpreted margin of the Gawler Range Volcanics. PCDD 1, sited 1.5 km south-west of Bonney Bluff in a position along strike from the Punt Hill deposit, was cored to a TD of 594 m, penetrating Palaeoproterozoic granitoid basement at 386.25 m. During Year 3 of the project acreage tenure, infill ground gravity surveys were undertaken on EL 3452 (Pernatty), EL 3807 (Sandy Point), EL 3810 (Roxby Downs North), EL 3490 (West Lake Torrens) and EL 3960 (White Cliff), while a deep IP survey was conducted on EL 3452 (Pernatty). In addition, during March-April 2008, two vertical diamond cored holes were drilled to investigate gravity anomaly IOCG targets at Pernatty ‘C’ licence sub-block, a third diamond drillhole was put in to investigate an IP anomaly on this sub-block, and a fourth diamond drillhole was completed at West Lake Torrens (EL 3490) to investigate a gravity anomaly IOCG target that extends under Lake Torrens. Consultant Jim Hanneson undertook geophysical modelling of nine potential IOCG targets, and geological studies were continued with the aim of identifying potential sediment-hosted uranium occurrences. The new infill gravity coverage, totalling 1247 stations read at grid spacings of mainly 250 m x 750 m, plus some 250 m x 500 m coverage, identified two highly ranked possible IOCG targets within Murdie Island EL 3491, while three other attractive residual anomalies were identified on northern Lake Torrens, with interpreted source body depths of between 400 and 700 m. During February 2008, a dipole-dipole IP survey was conducted within EL 3452 Andamooka – Pernatty sub-block ‘C’, using 200 m spaced array points along a single 6 km long traverse crossing the Bonney West target situated in the northern part of this tenement area. The survey defined a chargeability anomaly located midway between two former CSR drillholes PY8 and EC40, that were drilled 1200 m apart in 1986 on a ground EM survey-generated target. One of those holes had intersected a 2 m thick interval of siliceous sulphides (8.3% Cu), veined with pyrite and chalcopyrite, within altered basement sediments. The hole was terminated by CSR 14 m beneath this sulphide intercept, at a depth of 575 m, and failed to test the underlying basement granite. Consequently, during March 2008, Copper Range drilled a vertical diamond hole, PDD4, to test the interpreted chargeability anomaly. This hole was terminated at 663.9 m depth within Donington Granitoid Suite rocks. No significant mineralisation was intersected. Early in March 2008, WTDD1 was drilled to test the ‘Kellie’ gravity anomaly within EL 3490 West Lake Torrens. This hole was terminated within ?Wallaroo Group basement metasediments at a depth of 675.7 m. Also during March 2008, holes PDD2 and PDD3 were drilled by Copper Range into the ‘Pepita’ gravity target, where they intersected a thick sequence of cover sediments, including the Tapley Hill and Pandurra Formations, both of which contained visible traces of copper and zinc sulphides. Granite was encountered at 386 m depth in PDD2 and at 408 m in PDD3. These holes continued drilling into the granite until reaching their respective TDs of 600.0 m and 493.0 m. The expected hydrothermal haematitic alteration is only weakly developed within basement in these holes, although it is clearly visible in faults and fractures. At 506 m depth PDD2 encountered a dolerite body, with a specific gravity of 2.85, which is probably responsible for the interpreted residual gravity anomaly. A Declaration of Environmental Factors (DEF) was submitted to PIRSA by Copper Range in February 2008, for a planned gravity survey over sections of the Lake Torrens National Park that fall within its ELs 3490, 3491 and 3785. Permission to access the lake for the planned gravity surveys was finally granted in November 2008, but then the planned surveys did not go ahead due to the exploration project farmout deal arranged with Barrick Gold in November 2008. Barrick Gold had a different work agenda planned for the tenements. During Year 4 of the project acreage tenure, Barrick Gold's exploration work consisted of the compilation and review of previously acquired geological, geochemical and geophysical data, then a review of the contractor's geophysical processing methods, target identification and ranking, besides the completion of a ground gravity survey and a soil geochemical orientation survey at the Horse Well prospect located on EL 3959, and the intensification of extensive and ongoing negotiations to obtain access onto the 90% of the JV project tenement areas where ground disturbing activities were currently disallowed. Approval to access the Horse Well prospect was not received until late September 2009, after which Barrick's acquisition of a 530 station ground gravity survey began there. This survey also cover parts of the target that extend on the JV's adjoining ELs 3452 and 3807, for a further 207 stations, all being read on a 400 m x 400 m grid during October. The soil sampling (36 samples collected for separate conventional and MMI geochemical analyses) was also done on the survey grid. A preliminary regional to camp scale 2D cross section over the Horse Well area was interpreted and forward modelled by Barrick using existing gravity data, petrophysical data obtained from drill cores stored at the PIRSA Core Library, and drillhole information from open file holes that is available through SARIG. Although the pre-existing gravity data was of inferior quality, the regional geological interpretation was forward modelled and adjusted to fit the gravity. Modelling confirmed the possibility of Hiltaba-age intrusions and excess mass in the basement. The preliminary modelling was then updated to include the gravity data collected from Horse Well prospect during October 2009. The updated model increased the amplitude of the overall gravity anomaly by 0.2 mGal, which is within the accepted error for density measurements. The geological interpretation did not change as a result of the updated modelling. The gravity anomaly can be explained a dense gabbroic body (as intersected in the neighbouring WMC ASD1 drillhole) lying at approximately 700 m depth. Further work is continuing on the gravity anomalies that lie around the periphery of the Arcoona Gravity Ridge. This will include gravity modelling and geological interpretation to rank and prioritise targets for potential buried IOCG-type mineralisation. Barrick also performed some UBC algorithm 3D magnetic and gravity data inversions that addressed the entire tenement package. These were constrained by a series of known basement pierce points. The points were digitised into a 3D depth-to-basement model which the inversion results were forced to adhere to. This resulted in a more geologically realistic inversion solution. The models were then run through an in-house magnetite vs. haematite vs. host rock alteration mapping algorithm (based on Hanneson, 2003, and Williams and Lane, 2004). The algorithm looks at the inversion results for each cell in the 3D volume (e.g. magnetic susceptibility and density contrast), and using a set of 3 linear equations, estimates the volume % vaules of magnetite, haematite, and host rock for each cell. Empirical tests have demonstrated the algorithm's effectiveness in resolving all known IOCG prospects in the Stuart Shelf. First pass results highlighted the Murdie Island and Horse Well targets as having characteristics similar to other IOCG prospects and deposits, which suggested that they are the most immediately prospective geophysical features to test for IOCG style mineralisation. Unfortunately, due to the poor data density over both target areas, a more direct inversion model interpretation of their likely attributes could not be made. Both the Murdie Island and Horse Well targets require additional infill gravity data to optimise their gravity-based modelling and interpretation. The Murdie Island target area lies within Lake Torrens and as such ground access has been denied. For this reason the planned ground gravity survey has been postponed and instead the feasibility for conducting an airborne gravity gradiometry survey is currently being assessed. With regard to the results of orientation soil sampling at Horse Well prospect, the conventional analysis yielded a U anomaly and an offset Au anomaly; no Cu or Fe anomalies were apparent. The MMI assaying produced possible offset (by ~ 600 m) Au, Cu and Fe anomalies, however, in each case the sampling traverses did not sufficiently test for background levels of these elements on either side of the ‘anomaly’ to permit a full assessment of their significance. Consequently it is not possible to definitively ascertain the source of the anomalies detected, given the diverse range of mineralisation styles within the Stuart Shelf and the great thickness and geochemical heterogeneity of the Neoproterozoic sediment package covering the known HWD1 mineralisation (low-grade Cu sulphides, and no Au). During Year 5 of the project acreage tenure, new work on the tenement package was again undertaken by Barrick (Australia Pacific) Ltd. It consisted of the ongoing review of previously acquired data, the acquisition of a Falcon airborne gravity gradiometry (AGG) survey, geophysical data processing and interpretation for target identification, creation of geological cross-sections and geophysical modelling of targets, target ranking, and the conduct of ongoing ground access negotiations with Native Title claimants. No work was done on EL 3809 (Red Lake). The farminee undertook several prospectivity reviews of the project acreage during the year, which led to decisions to return the Red Lake tenement and the Horse Wells tenements (ELs 3452 (Part B), 3807 and 3959) to the control of Copper Range, as had been provided for under the terms of the farm-in agreement. Thus Copper Range resumed management of EL 3809 on 16/1/2010; then later, on 12/8/2010, it resumed management of the Horse Wells tenements. Six other tenements remain active within the Stuart Shelf JV farm-in agreement, with all of these tenements lying upon or adjacent to Lake Torrens, where exploration access is currently prohibited. A number of targets exist there which are ready for ground-based follow-up exploration; Barrick remains hopeful that access to work on them can be negotiated in the near future. Infill gravity data that were previously collected by Barrick Ltd during the 2009 Horse Well Gravity Survey were integrated with regional gravity datasets available via PIRSA, and various gravity data subsets were then produced covering the Horse Wells tenements. The Barrick high resolution raw data was merged with residual images produced in an effort to enhance short wavelength features consistent with inferred target size and geometry, but the results from the 2009 gravity survey failed to delineate any substantial discrete gravity anomalies / potential drill targets within the larger Arcoona gravity anomaly. A number of geological cross sections involving different plausible geological scenarios (e.g. IOCG deposit / uplifted basement / mafic intrusive / dense Paleoproterozoic metasediments) applicable to the Horse Wells tenements area were constructed in order to use them as a basis for reasonable comparison with 2D geophysical models. The sections also integrated data from nearby prospects such as Oak Dam and Cocky Swamp, to help constrain the models. The results of the geophysical modelling indicated that the potential for a large IOCG type orebody to exist in this area at shallow/economic depths was low. A target identification and ranking exercise for the Horse wells tenements was carried out following the integration of all available data (geological, geophysical, structural, and geochemical) and geophysical models. No targets were identified during this exercise. The Murdie Project airborne gravity gradiometry survey was flown in April 2010 along north-south flight lines spaced 300 m apart using a 60 m mean sensor height above the ground surface, for a total coverage of 4022 line km over ELs 3490, 3491 and 3785. After survey completion and full processing of the data, it was discovered that a problem with the AGG hardware had caused systematic high frequency noise to be introduced into the data. The nature of the noise was such that, although survey noise specifications were met, small-scale geological details were obscured. In consultation with Barrick Limited, it was decided to completely re-fly the survey. The new survey was acquired in August 2010. Since magnetic data from the first survey were unaffected, magnetic data, although acquired, were not processed for the second survey. Then followed in sequence, geophysical data processing and review, target identification, preparation of geological cross-sections, the conduct of geophysical data modelling of targets and their ranking for importance, plus the commencement of land access negotiations with the area's registered Native Title claimants. Several untested targets were placed into consideration.