The stated exploration strategy for the Joint Venture's Eyre Peninsula Project tenements (that are still extant) is to explore predominantly for gold and copper, with uranium as a secondary focus. Regional programmes of calcrete geochemical sampling, with samples initially taken at 1.6 km centres, are being used to identify anomalies that can then be followed up with RAB drilling. Further RC and diamond drilling may take place where RAB drilling results prove positive. 55 calcrete samples were collected on the now relinquished portion of EL 4968. No samples were found to be anomalous in gold i.e. having >2.5 ppb Au. The highest gold assay value returned was 1.65 ppb Au in the extreme south-west of the area. No samples returned copper values greater than 18 ppm Cu. The highest recorded assay value was 16 ppm Cu, also from the south-west of the relinquished area. 885 calcrete samples were collected on the two now relinquished portions of EL 5120. In the south-western portion, only one sample of the 143 taken was found to be anomalous in gold, with 3.35 ppb Au. Subsequent infill sampling did not yield another anomalous sample. Only two samples were found to be anomalous in copper (>18 ppm Cu), returning 20 and & 23ppm respectively. Subsequent infill sampling did not yield more anomalous samples. In the north-eastern portion, 328 samples of the 742 taken were found to be anomalous, defining a north-west trending dumbbell-shaped zone (PA1) with peaks at each end, one of 11 ppb Au and the other 16 ppb Au. 27 samples returned copper values greater than background, however, only one cluster of 7 adjacent samples was noted with merely up to 20 ppm Cu. A program of regolith mapping was undertaken in 1999 over the PA1 gold anomaly on EL 5120, which described predominantly thinly developed transported primary and secondary aeolian sedimentary facies overlying weathered and indurated bedrock. During March 1999 and then in August 2003, vertical aircore drilling of 3 holes initially plus 27 holes as follow-up, for a total penetration of 1533.5 m, was undertaken to test the PA1 gold-in-calcrete anomaly. A cover sequence of silcretised and unconsolidated sand and clay up to 12 m thick was found to overlie a normal lateritic sequence comprising a pallid zone (up to 24 m thick), upper saprolite and lower saprolite. The highest gold assay value returned was 0.2 g/t Au and for copper it was 600 ppm Cu, both from around 35-40 m depth in weakly quartz-veined saprolite after gneiss. The drilling was interpreted to have intersected a supergene geochemical halo sourced by gold and copper-bearing mineralisation. The presence of silica and pyrite veining, although only weakly developed, was thought to indicate former hydrothermal activity in the area. However, it was interpreted from studying the regolith stratigraphy in the anomaly area that the majority of its 2.8 square km extent is the result of prolonged lateral transport of the dispersing gold during development of a thicker than normal cover sequence. A lack of significant surface or shallow subsurface gold and copper anomalism, and no past survey geophysical anomalies of interest, influenced the selection of the licence portions which have now been relinquished.