Reedy Lagoon Corp. (RLC) has continued to look for minerals other than diamond, operating as the manager of exploration work for base metals (mainly copper) and uranium that was undertaken by the Edward Creek Base Metal Joint Venture (“ECBMJV”) during the period 30/06/2003 until its termination on 9/6/2009. The other parties to the ECBMJV disputed the termination of the joint venture, but RLC will continue alone to explore for base metals and uranium following the grant of a subsequent licence to EL 3250. Exploration for diamonds is being undertaken by DiamondCo Limited (“DiamondCo”). Work has been directed towards discovering the source to the nine diamonds recovered from bulk soil samples collected within the licence area. It is believed that the abundant kimberlitic picroilmenite, pyrope garnet and chromian spinel grains previously recovered from the area provide evidence that a kimberlite source lies somewhere nearby. During July 2009, vertical rotary mud open hole exploratory drilling and geophysical logging, looking mainly for buried sedimentary uranium, was conducted at two EM targets, WK65 and WK70. 3 holes for a total penetration of 209 m, plus the cutting of a one-metre long bottom-hole diamond core from 69.7 m depth in the second hole, were completed at WK65. 2 additional holes for 178 m were completed at WK70, a target considered prospective for both kimberlite and uranium. A total of 24 composite drill cuttings samples of some of the intervals drilled were collected and submitted for processing and mineralogical examinations for diamond indicator minerals. Three stream sediment samples were also collected from drainage lines downslope from WK65 for the purpose of similar examinations. No kimberlitic indicators were found. No significant uranium mineralisation was detected, with only low levels of radioactivity recorded on gamma ray logs (highest 9.5 ppm eU3O8 from the depth interval 35-42 m in hole WK70-02). A total of 15 kimberlitic ilmenite and 7 possibly kimberlitic chromian spinel grains were recovered from drill cuttings samples from the three rotary mud holes drilled into target WK65. Of particular interest was the recovery of 9 of these ilmenite and 2 of the spinel from intervals interpreted to be below the Cretaceous/Jurassic sequences which are considered to be transported cover at this target. Partial examination of concentrates from three stream sediment samples collected from gutters and a stream downslope from WK65 yielded 8 kimberlitic ilmenite and 6 possibly kimberlitic chromian spinel. 7 kimberlitic ilmenite and 4 possibly kimberlitic chromian spinel grains were recovered from drill cuttings samples from the two rotary mud holes drilled into target WK70. 2 of these ilmenite and 2 of the chromian spinel were recovered from intervals below the interpreted Tertiary cover. A small amount of ground spectrometer surveying was also conducted during 2009 in an attempt to confirm selected airborne radiometric uranium channel anomalies, but the anomalism could not be replicated. Plans were advanced to drill an 850 m deep diamond exploratory hole into the gravity anomaly at Santorini prospect. Modelling of this IOCG target, which had been undertaken in 2007, had indicated a mass with a density of 3.0 g/cc at a depth of 500 m below surface. Diamond drilling was carried out at Santorini during August-September 2010, when one vertical hole, SD-01, was completed to a total depth of 730 m. Interpretation of the recovered drill core suggested that the hole had remained in Duff Creek Beds from its commencement to TD. This formation comprises sediments in the Curdimurka Subgroup of Neoproterozoic age which are younger than the rocks which host the Olympic Dam deposit. The hole encountered interbedded silty arkosic sandstone and siltstone/shale beds comprising pyritic black carbonaceous siltstone, dolomitic sequences and some infrequent quartzite units. Minor calcite and pyrite veining (veins rarely thicker than 10 mm) and some (but infrequent) quartz veining (in more quartzose units) were observed. Black carbonaceous units intersected throughout the hole comprise nearly 30% of the sequence. These carbonaceous units contain sulphide (pyrite and pyrrhotite) in the form of thin veins (generally less than 10 mm thick), laminae and disseminations. Visual estimates suggested the sulphides comprise up to 10% of these units. A total of 61 core chip samples of the sulphidic carbonaceous units, and of the remainder of the sequence, were assayed, but no significant mineralisation was identified. Further ground spectrometric surveys conducted by RLC during July-August 2010 identified anomalous uranium at a new prospect. The Victory prospect area is a valley incised into deeply and variably weathered early Proterozoic metamorphic rocks, with extensive soil and scree cover. Some of the uranium radioactivity detected there may be related to observed exposures of a palaeoredox (weathering) front in these basement rocks. Quartz veining is abundant in them, indicating hydrothermal activity, and strongly ferruginised zones may indicate weathering of sulphide minerals. The host suite of Early Proterozoic rocks has faulted and unconformable contacts with Late Proterozoic rocks in the surrounding area, but these contacts are mostly obscured under cover within the prospect area. Traverses made with the hand-held spectrometer at a 25 m line spacing across the Victory prospect commonly recorded readings of over 15 ppm eU, up to a maximum of 25.6 ppm eU. More detailed infill surveying of the most anomalous area outlined a strongly anomalous 20 m x 100 m zone. Point readings taken right at ground level within this zone returned values of up to 99 ppm eU while higher readings, up to 267 ppm eU, were recorded at 35 cm depth below surface inside a shallow pit excavated in intensely weathered bedrock. 52 samples of the Victory prospect bedrock outcrops and nearby soil were collected for assay and for petrological examination. Anomalous levels of uranium were identified in several of these, and a maximum uranium value of 412 ppm U was returned from a grab sample taken over 30-35 cm depth in the bottom of the aforementioned shallow pit. The sampled material was an intensely weathered, kaolinised, fine grained rock. It also assayed 0.39 % total rare earth elements. Other surface assay results from the prospect included elevated copper-uranium values in weathered metamorphic rock (1320 ppm Cu, 60.3 ppm U, 1250 ppm Co, 361 ppm Zn, 7.87 % Mn) and in ferruginous material associated with a weathered basic dyke (1420 ppm Cu, 58.3 ppm U). These results were interpreted to represent secondary enrichment due to weathering effects. The highest gold value obtained was very low but anomalous, at 0.067 ppm Au. It came from a weathered quartz vein sampled on the margin of the principal uranium anomalous zone. During the 2010-2011 reporting period, Reedy Lagoon undertook mapping and geological sampling at the Victory prospect. 42 samples were collected by hand auger along a traverse crossing the peak of the uranium anomaly identified during the prior period. Samples were collected at 5 m intervals from depths of about 50 cm. The traverse included a sample (VA001) taken from a depth of 60 cm at the EC40 site (412 ppm U), which assayed 73 ppm U. This was thought to be further evidence for the presence of a mineralised system at Victory. In addition, 11 surface rock chip samples were collected from the prospect and a further 3.7 line km of spectrometer data were acquired by performing a ground radiometric survey. The company made investigations into the relative uranium analyte extraction efficiencies of laboratory acid digest and lithium metaborate/tetraborate fusion preparations: the results demonstrated that using the cheaper acid digest preparation is adequate for detecting the likely concentration of geochemically anomalous uranium. During March 2011, Fugro Airborne were contracted to fly a fixed-wing airborne magnetic and radiometric survey of 469.8 line km over the Victory prospect, to try to map bedrock structures that might relate to uranium mineralisation. The east-west flight line spacing was 50 m at a nominal sensor terrain clearance height of 40 m. A consultant's interpretation of the magnetic and radiometric data identified anomalous areas of radiometric response, while newly discerned local magnetic lineations were interpreted to be potentially related to structure. Locations were chosen for two drill traverses, and arrangements for gaining Native Title heritage clearances to use them were commenced. These traverses aimed to investigate the potential for buried primary uranium occurrences of unconformity style that perhaps might be associated with the contact between the Cadlareena Volcanics and Peake Metamorphics in places obscured by sediment cover. Joint venturer DiamondCo collected and examined 3 stream sediment samples (V0469 – V0471) from drainage lines located to the south of kimberlite target WK65. from these, 44 heavy mineral grains were recovered and identified by electron microprobe analysis, with 3 pyrope garnets, 5 picroilmenites and 1 chrome diopside considered to be kimberlitic indicators, together with 5 possibly kimberlitic spinels. In consequence, ground gravity data were acquired on an 80 m x 80 m grid covering 2 km x 3.5 km over WK65. However, interpretation of the gravity data downgraded WK65 as a possible kimberlite intrusion target, although a large regional gravity low was identified adjacent and to the west of WK65. Possible dykes trending from north-east to south-west were also interpreted from the gravity data. A review of the company’s various geophysical data commissioned from an external consultant identified several new potential kimberlite targets and noted that some previously identified targets may not have been adequately investigated (Ward 2011). His review of the targets identified in Ward 2011 resulted in 6 being considered priority. They comprised WK19, WK77, WK78, EcK5 which was re-numbered WK81, SPL14 which was re-numbered WK82, and WK66 which was re-numbered WK83. It was found that three of these targets in Ward 2011 had previously been drilled by Stockdale Prospecting Pty Ltd (“SPL”). DiamondCo considered it likely that these targets had been adequately investigated by SPL, and that errors in the recorded collar locations of the SPL drill holes were possible. During the 2010-2011 reporting period, Reedy Lagoon did no new uranium exploration field work. DiamondCo acquired 213 line km of ground gravity surveys over three grids in the northern part of the licence area covering kimberlite targets WK19, WK 22, WK77, WK81, WK82 and WK83. Subsequently, Native Title heritage clearance surveys were conducted in November 2011 which cleared these targets for drilling. A re-assessment of detailed helimag data (A10 Drainage Area, 50 m line spaced) identified several new targets including WK56, WK84, WK85, WK86, WK89, WK90. 21 stream sediment and loam scrape samples (V0472 – V0474, V0483 – V0500) were collected, and high counts of Diamond Indicator Minerals (“DIMs”) were recovered from many. Studies of the chemistries of the grains revealed sub-populations of ilmenite grains which were interpreted to indicate different kimberlite sources. Soil sampling was conducted over nine potential kimberlite targets (202 samples). Partial Selective Leach processing was used to enhance target signal response recovery. During the 2010-2011, 2011-2012, 2012-2013 and 2013-2014 reporting periods, Reedy Lagoon did no field work. Activities were centred on preparing requisite documents seeking approval for conducting proposed RC uranium exploratory drilling along two traverses at the Victory prospect. Government approval for this was finally given on 25/11/2013. Over these four years, DiamondCo undertook continued loam and stream sediment sampling of cover materials over magnetic anomalies to look for diamond indicator minerals, and performed sample assaying and indicator grain electron microprobe analyses. Additional ground magnetic surveys and profile geophysical modelling were also undertaken. This work identified DIM mineralogical signatures compatible with potential buried kimberlite sources for eight magnetic anomalies: WK56, WK65, WK77, WK78, WK81, WK83, WK89 and WK90. A contract was signed for the hire of an RC drilling rig, and all necessary drilling approvals under the SA Mining Act and provisions of Native Ttitle heritage protection were obtained. During May 2014, DiamondCo completed the drilling of 30 vertical aircore holes for 1271.75 m to test the interpreted kimberlitic targets. No kimberlite was found, but anomalies WK65 and WK81 were found to contain DIMs throughout the sedimentary sequence drilled, many occurring in older Carboniferous and Neoproterozoic beds beneath a basal Jurassic diamictite unit. The seven other anomalies drilled encountered sediment sequences that were barren of DIMs. From late 2014 onwards, Reedy Lagoon held its approved uranium drilling programme in abeyance pending a recovery in the market price of uranium. During April 2015, DiamondCo completed the drilling of a further 2 RC holes for 460 m at anomaly WK65. Again no kimberlite was found, and this time no DIMs were recovered from the drill cuttings samples. Brecciated bottomhole clastic sediments previously thought to be Neoproterozoic in age were re-designated as belonging to the Carboniferous Boorthanna Formation. During 2016, in an effort to generate more potentially buried kimberlite targets, DiamondCo conducted ~200 line km of anomaly definition ground magnetic surveys at 50 m and 100 m north-south line spacing and 1 m station intervals over helimag anomalies present on ground in the north-eastern corner of EL 5580, and extended this work onto its adjoining EL 5780 Nilpinna, where ~110 line km were profiled. A consultant performed 2D geophysical modelling of the magnetic data for four priority anomalies, to give estimates of the depth and size of their inferred pipe-like sources. In July 2017, DiamondCo performed exploratory RC drilling of 7 vertical holes for 465 m to test three selected magnetic targets at the WK45, WK95 and historic Stockdale AN4 anomalies in the north-east part of EL 5580. The modelled Grade 1, 300nT dipolar anomaly at WK45 was thought by the geophysical consultant to represent a classic kimberlite body magnetic response, coming from 59 m depth under cover. However, the entire drilling programme was unsuccessful. No DIMs were recovered, and no kimberlite was encountered. *******