An area in the Cowell Hills centred ~20 km north of Tumby Bay on eastern Eyre Peninsula was taken up primarily to explore and evaluate known talc and graphite occurrences, but the grant licensee's initial review of previous exploration data revealed that there was also excellent potential for finding economic base and precious metals. Exploration work done during the first year of tenure comprised reviews and evaluations of all previous exploration data including aeromagnetic survey data, the prioritisation of target commodities, and conducting joint venture negotiations for iron ore exploration. During the second licence year, in February-March 2011, the joint venture partners acquired a gravity survey and performed exploratory/stratigraphic vertical aircore drilling on selected magnetic and gravity anomaly targets, to assess the prospectivity of the buried Middleback Subgroup metasediments for hosting DSO (Direct Shipping Ore) type haematitic iron ore. The gravity survey was read in three separate areas, at a nominal 250 m station spacing set out along roadsides, farm tracks and fencelines, to cover 6 grids and two profiles for a total coverage of 1522 new stations. The aircore drilling was carried out at a gravity-defined prospect located ~6.5 km south-west of Ungarra township, with 10 open holes completed for a total penetration of 253 m. Beneath the regolith profile, the holes all encountered fresh bedrock of mostly amphibolitic and some schistose to gneissic affinity. Those on the southern traverse intersected iron-rich soils, but sample assays showed that the iron is mostly tied up in clay minerals. Holes put in along the northern traverse intersected impure kaolinite. Good commercial kaolin must fulfill certain criteria, and some of these are superior brightness and whiteness, high opacity, desired particle size and chemical purity. However, the Ungarra SW kaolin is very silica-rich and has a generally impure mineral composition, so was not considered to have any economic potential. The JV partners consider that it is very likely that the kaolinite found in these holes is of secondary origin, i.e. has been transported and precipitated in water, since it is underlain by mafic bedrock. But a plausible source rock for it could be the muscovite and tourmaline-bearing granite and pegmatite outcropping further to the east (Yunta Well Leucogranite). A further and closer drilling investigation of the weathered margins of these felsic bodies was believed to be warranted, to try to locate better quality saprolitic kaolin. 40 samples of bedrock drill chips were assayed for whole rock major and minor elements, but no results of significance were returned. A highest iron content of 29wt% Fe2O3 was recorded from a single sample on the southern drill traverse, but the majority of samples have only between 1 and 1.9wt% Fe2O3. During the third licence year, the JV partners further evaluated the regional potential for kaolin occurrence, especially in the Ungarra area where poorly exposed and weathered leucogranites (including the Yunta Well Leucogranite) are present. A field geological reconnaissance made along existing roads and tracks identified places near Ungarra that had surface exposures of kaolin. In particular, an exposure of kaolin was discovered in a small pit east of Ungarra used for rubbish disposal. At least 2 m thickness of kaolin was exposed in the sides of this pit under less than 0.5 m of soil cover. A sample was taken and analysed. On the basis of this exposure, plus the observed widespread kaolin outcrops along road verges, and kaolin material frequently present in spoil heaps left from dam construction, further regional reconnaissance was conducted, followed by a programme of aircore drilling undertaken during April 2012. Four vertical holes totalling 115 m were drilled on road verges along an ~10 km long east-west traverse centred on the Ungarra pit kaolin occurrence. In hole 12UAC1, which was sited about 500 m southwest of the pit, a 27 m thick interval of kaolin was intersected beneath 2 m of soil and calcrete. Over a 6 m interval directly below the surface soil, this kaolin appears lightly stained by reddish iron oxides. The remainder is consistently variably contaminated by fragments of quartz. A sharp basal contact with weathered felsic gneiss occurred at a depth of 29 m, and fresh granite gneiss was entered at 37 m. The thick kaolin intercept, and its proximity to the other Ungarra area kaolin occurrences, was considered to indicate potential there for delineating a deposit of significant but yet unquantified size at surface or under very thin cover. Envisaged follow-up work will include further geological studies and both regional and pattern drilling. A comparison was made between the Ungarra kaolin sampling compositional results and similar public arena information about the Poochera kaolin resource, with respect to either meeting premium commercial product specifications. Only the level of iron present in unbeneficiated Ungarra kaolin is a concern regarding product acceptance, which will require the conduct of mineral processing testwork. During the fourth licence year, Ausmin changed its exploration focus to assessing the graphite potential of the tenement. Office studies of previous drillhole and petrological data and a field investigation convinced the company that significant untested graphite potential existed around known occurrences of coarse flake graphite at Siviour, Carpa, Mount Priscilla and Beames Farm. The Siviour Option Agreement between Ausmin and ActivEX Limited was signed on 3/4/2013 to cover graphite exploration on ELs 4309, 4430 and 5204, plus possible development of the Ungarra kaolin deposit. This option entitlement was subsequently assigned to ActivEx spin-off Eyre Peninsula Minerals Pty Ltd (EPM) on 23/10/2013, whereupon it assumed operating the EL 4309 exploration programme. During licence Year 5, EPM undertook re-processing of available aeromagnetic and radiometric data, and performed geological mapping and rock chip sampling in the Tumby Bay talc area. Negotiations were begun with farmers for access to the Bruce graphite deposit. There are two known graphite deposits in the Lipson Cove area – Bruce and Yaranyacka. Graphite is also recognised in the Tumby Bay Talc deposit. The two latter deposits are associated with the Katunga Dolomite and the Bruce deposit appears to be hosted by Cook Gap Schist. These associations are interpreted as being part of the eastern trend of graphite deposits. Interpretation of the aeromagnetic and radiometric data was carried out to try and identify rock associations and trends which would help identify zones prospective for graphite in EL 4309. The ternary radiometric imagery clearly picked out the Yunta Well leucogranite which EPM believe will be useful for future kaolin exploration, also with also picking out the Lincoln complex gneissic granites. Elevated rare earth element values were noted as being associated with the eastern talc horizon at Tumby Bay, with up to 3046 ppm total rare earth oxides plus yttrium being previously recorded by CRA Exploration from below 14 m depth in drill core assaying of their diamond hole DD07TB003. Significant advantage to the graphite search was gained by interpretation of the airborne geophysical data. However, field confirmation activities were hampered by several property owners in the Bruce area who refused to allow access onto their land, and consequently geological mapping was limited to just 25% of the area of interest. The mapping did not identify any outcropping graphite, although it was realised that the host Cook Gap Schist lithologies are likely to be recessive in the landscape.