A small licence area located on the northern margin of the Murray Basin, approximately 70 km north-east of Burra and about 40 km south of the previously studied Razorback Ridge banded iron formation magnetite deposit, has been explored for possible economic similar iron mineralisation that could occur within buried glacial tillitic/siltstone strata of the Neoproterozoic Braemar Ironstone, beneath sparse but persistent poor outcrops of this bedrock unit. Initial work performed by the licence operator entailed making a field reconnaissance of these formerly mapped outcrops, with attendant rock chip sampling for analysis to determine their magnetite content. The surface rock geochemistry was analysed in the first instance with a portable XRF spectrometer and, later on, 36 selected samples were assayed in a laboratory for silicates and a range of elements that would constitute contaminants to any steel product that is made from the contained magnetite. 10 of the better quality samples were crushed and subjected to Davis Tube Recovery (DTR) yield tests of their magnetite, which gave an average DTR iron content of 49.7% Fe in the separated magnetic mineral concentrates. The magnetic susceptibility and density of the five highest grade surface samples were also measured. During September-October 2010, as part of wider airborne survey coverage of several licences involved in the Braemar Iron Project, geophysical contractor GPX Airborne flew 601 line km of fixed-wing aircraft instrument platform, combined magnetic, radiometric and digital elevation model coverage over EL 4395 along east-west flight lines spaced 100 m apart, using a nominal sensor altitude of 30 m. Modelling and interpretation of the resulting magnetic data identified a strong (to 4000 nT) northwards-trending magnetic anomaly, ascribed in part to undercover portions of the target Braemar Ironstone, which has a steeply westwards-dipping source geometry. It runs unbroken through the northern half of the tenement, and it was proposed that in the subsurface the anomaly source may be composed of several continuous but narrow subsidiary magnetic bodies. To further investigate the geometry and properties of the target ironstone strata, licence operator Bonython Metals Group next contracted Ukraine - based company Onyx, Inc. to acquire data for them using the new remote sensing technique of Passive Magnetic Resonance Subsurface Exploration Technology (PMRSE). During the period November 2010 to January 2011, Onyx took PMRSE depth soundings with their portable equipment along ten traverses and processed the results of 38 readings back in Ukraine, to present to Bonython Metals as contoured layer profiles depicting the possible fractional content of contained iron species. The entire survey predicted an average magnetite content of 19% in the sounded rocks extending down to 200 m depth below the surface. During licence Year 2, BMG conducted an interpretation of the new airborne geophysical survey data, and performed petrographic studies on four grab samples of shale and BIF ironstone outcrop collected from the licence area. The 11 km long aeromagnetic anomaly high corresponding to the past government-mapped Braemar Ironstone outcrop was modelled as a steeply westwards dipping magnetic structure with a source body centred in the depth range 70 to 130 m, and having a possible thickness of 280 m. Examination of the rock samples under the microscope disclosed within them pervasive, variable degree weathering of the ~30% ?original microcrystalline magnetite content, which has caused its complete oxidation to haematite. Likewise, commonly associated metamorphic chlorite has been deuterically altered to goethitic clay. During licence Year 3, no work occurred on EL 4395. In May 2012, farminee BMG was placed into liquidation by court order. At that year's anniversary date of the licence, the company remained in liquidation and grossly under-spent on its farm-in commitment, and so forfeited its rights to continue to participate therein. Licensee Carpentaria Resources Limited (Carpentaria) resumed managing the exploration programme, seeking to identify bulk tonnage magnetite iron-ore mineralisation similar to that present at its Hawsons iron deposit located in NSW (2.5 Bt @ 14.1% Davis Tube Recovery grade). During licence Year 4, independent consultants H&S Consultants Pty Ltd were requested by Carpentaria to assess the exploration target covering EL 4395 and the adjoining EL 5181 using exploration results from airborne and ground magnetic data and RC drilling results. Their report included 2.5D magnetic modelling of the 2010 airborne magnetic survey high resolution data which had previously been done for BMG's John Hillam, to use for determining exploration target parameters such as depth, width, and attitude of the magnetite mineralisation. The conclusion reached was that, within EL 4395, a likely exploration target would amount to between 580 and 960 Mt of magnetite mineralisation. The average DTR grade of the exploration target was estimated to be between 12% and 27% Fe, whilst the concentrate product was expected to have an Fe grade range from 63% to 67%, Al2O3 ranging from 0.4% to 0.6%, SiO2 ranging from 6% to 10%, and P ranging from 0.01% to 0.02%. Appropriate precautionary qualifications as to the expressed quantity and grade of the exploration target were made as per JORC (2004). During licence Years 5 through 11, no work was done. Because previous JV work conducted in concert with Maosen Australia had indicated that a discrepancy exists between the positions of anomalies defined by historic aeromagnetic data and ground magnetic data, Carpentaria decided that in order to better delineate the target magnetite iron ore mineralisation, the following proposed work was needed: • surface mapping; • surface rock chip sampling; • a Niton FPXRF geochemical survey; and • a ground magnetic survey. In 2019, due diligence was conducted on EL 5561 by a third party looking to invest within the Braemar Iron Province, but afterwards it decided not to farm in to the licence. An application to fully surrender renewed EL 6454 was submitted to DEM by Carpentaria on 15/5/2020, and this action was approved by the SA Minister of Mines on 4/11/2020.