A small licence area centred approximately 40 km south-southwest of Olympic Dam, and lying close to known buried IOCG-U mineralisation previously discovered by WMC in altered basement rocks at its Wirrda Well, Acropolis and Horse Well prospects, has been explored for possible economic similar mineralisation which might exist at geophysical targets which the subject licensee considered had not yet been adequately drill tested. The applicant company believed that the tenement was situated in the same geological environment as are the Carrapateena, Olympic Dam and Prominent Hill deposits, and thus would be highly prospective for Cu-Au-U mineralisation. Each of the main IOCG-U deposits within the Olympic Cu-Au Province had been noted to be associated with a series of regional north-west to north-northwest structural zones or faults. Subsidiary cross cutting faults in a north-easterly direction appeared to control the formation of these deposits on a local scale. Therefore Core Exploration ("Core") expected that any coincident or semi-coincident gravity and magnetic anomalies occurring in this structural context would constitute valid IOCG-U exploration targets. During the first licence year, Core compiled and reprocessed available magnetic and gravity survey data that had been collected by the previous explorers working within the EL 4906 area and in the surrounding Olympic Domain. Historic electrical survey and remote sensing data were also compiled and examined, and the earlier licensees' geophysical consultants' interpretative reports were studied. Open file drillhole information for selected prior drillholes was also reviewed, based on its relevance for providing guidance on depth to basement, composition of the basement geology and intensity of any IOCG-U style alteration in the region. Two geophysical targets were identified initially as partly fitting into the Core exploration rationale, but it was felt that their reliability would be reinforced by the acquisition of higher resolution magnetic and gravity data. While the gravity data coverage across the tenement was thought to be adequate for determining the presence of a large IOCG system within the tenement, further infill would assist in the development of a 3D inversion model for drill targeting. The aeromagnetic data for the region was judged to be inadequate, and so a more detailed survey would be required prior to commencing inversion modelling. Because the local depth of cover was likely to be in the order of 800 m, it was clear that confirmation of the potential for finding a significant sized ore body would be necessary before starting drill tests. During licence Year 2, Core undertook further geophysical modelling, from which arose more specific recommendations for further geophysical data acquisition requiring to be completed before any drill testing of the now six in number identified targets within EL 4906. In the meantime, the company's management was actively seeking joint venture partners to fund or co-fund potential drill programs within its Roxby South Project acreage which now included the subject EL 4906 and the separate but neighbouring EL 4816 to the west-northwest. Also during 2014, Core produced an Information Memorandum for EL 4906 and the adjacent EL 4816, and remained hopeful that an improvement in financial market conditions would take place which would perhaps allow Core to fund its own drill testing of the targets identified within the project ground. The following exploration activities occurred during licence Year 3: - the conduct of an aboriginal cultural heritage clearance survey with the Kokotha Native Title claimants; - the acquisition during August 2014 of a ground gravity survey totalling 390 stations on a regular 250 m x 250 m grid which covered the southernmost part of EL 4906; - the acquisition during September 2014 of a helicopter-borne aeromagnetic/radiometric survey totalling 313.93 line km along east-west flight lines spaced 100 m apart, covering the same area as the above gravity survey grid; - database integration, processing and modelling of the new geophysical data, including partially constrained 3D inversions. Interpretation of the updated geophysical data model for the company's priority Heaton Hill prospect 'Target A' indicated that the source for its associated magnetic feature is very deep (approaching 2 km) and is offset from shallower gravity features. WMC's 1981 exploratory drillhole HHD1 (TD 1186 m depth) appeared to have just missed penetrating the gravity feature, but was not drilled deep enough to test the magnetic anomaly. Given the probable depth of drilling needed to reach rocks possibly containing IOCG mineralising systems in this area, the company resolved to persist with its search for a joint venture partner that would assist with funding future exploration. No other work ensued on EL 4906 during licence Years 4 and 5, until a decision was taken midway through 2017 to fully surrender tenure.