Six separate small portions totalling ~24% of the former area of the subject licence have lately been surrendered. This licence area, located between Pernatty Lagoon and the south-western end of Lake Torrens, is being explored for possible economic buried IOCG type mineralisation that may have formed in the Mesoproterozoic basement near the eastern margin of the Gawler Craton. The licence is centred less than 50 km south of the Carrapateena IOCG discovery, and is also characterised by strong sericite alteration within a major NW - trending fault zone. A number of prospective gravity and magnetic anomalies have been identified within the licence, but recent geophysical interpretation has concluded that the now relinquished portions have diminished prospectivity. The only work undertaken on these licence portions was the acquisition of a subset of semi-regional 1 km x 500 m ground gravity data read at 87 stations during a survey of the entirety of EL 2373 that was conducted by Havilah in May 2002.