Exploration aimed primarily for economic buried Menninnie Dam - style base and precious metals mineralisation hosted by Palaeoproterozoic metasedimentary basement has been conducted on a licence located in the Lake Gilles district. There was also believed to be good potential here to discover IOCG-U type mineralisation associated with the younger Mesoproterozoic Gawler Range Volcanics succession and associated Hiltaba Suite felsic plutons. During the first licence year, activities consisted of completing two phases of soil sampling, plus carrying out a prospectivity analysis (conducted as part of the broader prospectivity analysis across the entire East Eyre Project area), and obtaining a Native Title Heritage Clearance for planned drilling by carrying out inspections on the eastern sub-block of the tenement. The soil sampling followed on from some that was initially done by Southern Gold in 2008 on a 1 km x 1 km grid, when the ground was held under EL 3479 Lake Gilles. A second phase of soil sampling was conducted in mid-2009, infilling areas of interest for gold anomalism to 500 m x 500 m precision. A third phase of sampling, collecting 250 m x 250 m spaced samples, was completed over a gold anomaly in the north-eastern corner of the eastern sub-block in early 2010. Work done during the second licence year consisted of one phase of close-spaced calcrete sampling (846 samples) over an anomalous area within the eastern licence sub-block defined by the previous soil sampling. Results of the soil sampling completed late during the previous tenement year were reported. A helicopter-borne aeromagnetic and radiometric survey was flown over the eastern block of the tenement during July 2010, as part of a larger survey covering the majority of the Jungle Dam block of the adjoining Lake Gilles tenement (EL 3479). The detailed magnetic and radiometric data, which were partly intended to assist with a search for possible economic buried iron ores, were acquired along east-west flight lines spaced 100 m apart, using a sensor 30 m mean terrain clearance. The processing and interpretation of these new geophysical data have been reported in the annual report for EL 3479 for the year ending 21/12/2010 (see Env 11464), and therefore are not separately discussed herein. No field work was performed during licence Year 3. During licence Year 4, a program of aircore drilling (25 vertical holes for 1102.5 m, along four drill traverses) was undertaken during April 2013 on the Jungle Dam sub-block of the licence by Investigator, to test the bedrock beneath several surface gold and silver anomalies found earlier. Results included several low level silver intersections, and one moderate grade silver–gold intersection (4 m @ 28 ppm Ag and 0.25 ppm Au from the interval 39-43 m at the bottom of hole BGAC004). Following the completion of drilling, a further 845 soil geochemical samples were collected at 100 m spacing, leading afterwards to further infill collection of 886 soil samples at 25 m x 100 m spacing. This work was done to investigate the apparent geographical offset of the moderate silver and gold assays obtained in BGAC004 and the soil sample locations of elevated silver and gold soil assay values returned from the previous 250 m x 250 m sampling program. It gave much improved spatial definition to the coherent silver-gold anomalies in the area, as demonstrated by image plots of the new soil geochemical data. During licence Year 5, a follow-up program of aircore drilling (33 vertical holes for 1690 m, along eight drill traverses) was undertaken during April 2014. This time all of the downhole bedrock sampling results were very disappointing, and did not match the results obtained by the previous drilling round. During the entire succeeding four-year period of tenure of renewed EL 5406, no other field work was undertaken, although Investigator's stated intent had been to do further drilling, possibly using diamond or RC methods. Tenure was allowed to lapse in April 2018.