An area centred ~50 km south-west of Port Augusta has been explored for possible economic buried VHMS or porphyry style copper mineralisation and for primary uranium mineralisation hosted by basement rocks within this part of the southern portion of the Olympic Domain IOCG-U corridor. The area includes known copper-mineralised shear zones of the Roopena and Angle Dam Faults and the Kalinjala Mylonite structures. Previous exploration had confirmed that IOCG-U style bedrock alteration is present at the Spencer prospect, and that basement in the Cultana area lies under shallow cover which, in contrast to the cover on most areas in the northern portion of the Olympic Domain, is expected to fall within a 0-50 m thickness range. During the first licence year, the licencee acquired new gravity data over major fault zones located in the central longitudinal portion of the tenement, and flew an airborne EM survey over two prospect areas. A total of 1800 gravity stations were read on two of three separate 400 m x 400 m regular grids during February 2013 (covering parts of survey Area A2 and Area B) as part of a larger infill gravity survey conducted in the Iron Knob region. During 27-29th May 2013, a helicopter-borne detailed EM/magnetic (REPTEM) survey was flown over the entire licence area along 36 east-west flight lines spaced 200 m apart, using a sensor nominal terrain clearance of 30 m, to give a total coverage of 256.5 line km. From this AEM data, three main conductive zones were interpreted as possible zones of massive sulphide enrichment: 1. an extensive conductive zone(s) to the immediate south and south-west of the 1050 East area, 2. a smaller conductive zone immediately to the north-west of the Wizo Well IOCG / gravity magnetic target, and 3. partially defined conductive zones on the western edge of the survey area, to the west of the Roopena Fault. Of these features, Renascor thought that the Wizo Well conductive zone most closely fits with the company's model for the potential development of a supergene sulphide blanket of mineralisation associated with an IOCG target. This observation supported the potential use of (airborne) EM surveying as a means of detecting higher grade, near surface sulphide rich zones within the Roopena Fault area. It was inferred that the 1050 conductive zone is possibly related to regolith features associated with copper mineralisation hosted in near surface pallid zones. The licensee also performed a desktop review and compilation of historical RAB geochemical sampling, a review and compilation of historical drilling along known shear zones within the licence area to identify anomalous downhole copper and base metal results, and a review of geophysical data including past magnetic and gravity interpretations, to assist in the delineation of IOCG-U targets and major structural lineaments. The historic RAB drillhole geochemistry provided drill targets for copper mineralisation at the 1050 and 1050 East prospects. During the second licence year, Renascor's work on the Cultana area included: - diamond drilling of 9 holes for a total of 1610.5 m; - RC drilling of 19 holes for a total of 2714 m; - completion of Native Title heritage clearance surveys along 15 lines to allow for drill site access; - compilation and registration into the company's digital database of details of 2000 historic RAB drillholes and their associated copper assay results; - acquisition of further ground geophysical surveys: two phases of IP profiling, and ground and downhole EM surveys, all within the 1050/1050 East prospects area; - commissioning petrological descriptions of 5 drill core samples from hole 13REEDD012; and - performing soil geochemical sampling at the 1050 East prospect, where 170 samples underwent FPXRF analysis. Both the Phase 1 and Phase 2 IP surveys were undertaken during February 2014 on the 1050 East prospect covering the Angle Dam Fault, along 8 east-west traverses using a dipole-dipole configured sensor array deployed at 200 m intervals. Recording occurred after the diamond drillholes 13REEDD012 and 13REEDD013 had been completed. Two chargeability responses were defined. The Year 2 drilling was undertaken in three campaigns - RC from 18-23rd September 2013 and from 27th May to 4th June 2014: diamond from 15th November to 12th December 2013. Drilling at the 1050 prospect targeted previously defined copper anomalies defined by historic RAB and RC drilling, as well as Renascor's AEM anomalies. Two holes (14REERC023 and 024) drilled within the 1050 prospect tested existing geochemical anomalies, while another two holes (14REERC025 and 026) evaluated AEM anomalies for the development of copper associated with potential supergene enrichment. Hole 14REERC023 intersected a mafic dyke as well as 4 m @ 0.64% Cu from 76 m depth. This was the only hole of the four to record any significant copper mineralisation. All four holes intersected up to 40 m of relatively white kaolin from near the surface, suggesting a broad zone of intense weathering or alteration. At the 1050 East prospect, drilling was designed to provide at least one detailed drill section to assist with understanding the relationships between the Angle Dam porphyry, Angle Dam fault zone and the potential development of both disseminated and massive sulphides. Significant results were obtained in five diamond holes, that defined an envelope of poly-metallic disseminated mineralisation comprising copper, cobalt and silver hosted in volcanogenic sandstone sequences of the Moonabie Formation over a 50-70 m true width and extending for 200 m downdip. The best intercept was obtained in hole 13REEDD012, of 13 m @ 1.45% Cu, 66 ppm Ag and 0.17% Co from 215 m downhole, including a massive sulphide interval with 8 m at 2.2% Cu, 92 ppm Ag and 0.26% Co from 217 m. Another three diamond holes were drilled nearby to test the southern continuation of an IP chargeability anomaly. These holes also gave significant results, including 11.4 m @ 0.55% Cu from 56.6 m in hole 13REEDD010, and 2 m @ 0.78% Cu from 134 m in hole 13REEDD009. Here the mineralisation is hosted within subcropping Angle Dam porphyry, and coincides with IP and magnetic anomaly positions which suggested to Renascor the likely presence of more extensive porphyry subcrop areas to the south. Other, lower order copper intercepts were later obtained at the 1050 East prospect in RC drilling carried out on several drill sections stepping out for 1200 m strike distance to the north, from strata within the Moonabie Sandstone that possibly equate to those hosting the massive sulphide hit. These RC intercepts hinted at possible additional sulphide development to the north in areas not yet covered by IP, as well as the chance of there being massive sulphide development at untested greater depth (>100 m). Five lines of soil geochemical sampling were next done at the 1050 East prospect, along east-west lines 800 m in length and spaced 400 m apart, with samples collected at 25 m intervals. Assay values were determined by using a field portable X-ray fluorescence (FPXRF) spectrometric instrument. Results showed elevated copper contents that are associated with the Angle Dam porphyry bedrock in the centre and south of the prospect, and with a volcaniclastic lithic sandstone unit in the north. Following the completion of the Year 2 drilling, Renascor acquired ground-based moving loop TEM survey across the 1050 and 1050 East prospects during July 2014, as well as downhole EM profiles in drillholes 13REERC001, 13REERC002, 13REERC003 and 13REERC007 during April 2014. The aim was to define the orientation and potential size of massive sulphide mineralisation. The results of the DHTEM and MLTEM surveys and EM data modelling showed: - a shallow, westwards dipping and strike extensive conductor located 30 to 40 m below surface. It was surmised that the conductor may represent a zone of increased weathering (conductive overburden) or a stratigraphic conductor (shale). - the DHEM survey in 13REERCDD003 detected a deeper conductor located ~135 m below surface. Modelling suggested that the main conductive source is located above the hole, and could be running parallel to the hole. A small positive anomaly in the U component DHEM response for REERC002 supported this model, and suggested that there is a conductor located between holes 003 and 002. - no indication of the massive sulphide target zone could be seen in the MLTEM data. During Year 3 of tenure of EL 5012, the licensee's exploration focussed on the Extension Tank gravity/magnetic IOCG prospect and the Fresh Well Cu-Pb-Zn prospect. New work comprised the acquisition of ground gravity and magnetic surveys at Extension Tank, and the drilling of 13 inclined RC holes, for a total penetration of 2126 m, in two campaigns (November 2014 and July 2015). In June 2015, a second infill ground gravity survey was acquired, this time in the Extension Tank area. It consisted of a small rectangular area detailed via 266 gravity stations read on a 100 m x 100 m grid, surrounded by a larger rectangular 200 m x 200 m regular grid on which another 434 stations were read. Around the same time, 35 line km of ground magnetic data were acquired along lines spaced 200 m apart, with readings made every 25 m. Eleven of the Year 3 RC holes were drilled at Extension Tank to test a gravity anomaly with inferred IOCG potential; here 9 of the holes encountered trace to minor occurrences of copper and other base metal mineralisation, including significant cobalt. The best mineralised intercept was obtained in hole 14RETRC001, which intersected strongly anomalous copper, including 8 m at 0.45% Cu from 64 m downhole, within a brecciated sulphide zone having haematite and minor magnetite alteration, consistent with it forming in a haematite-dominant IOCG system. Samples of RC drill chips from holes 14RETRC001, 68-69 m and 14RETRC002, 161-162 m were submitted for petrological and mineralogical description in December 2014. The rock compositions and textures seen were interpreted by the petrologist as most likely representing Mesoproterozoic metabasalts (?Roopena Volcanics), with brecciation and mineralisation imposed which may be contemporaneous with metamorphism, or were later superimposed by hydrothermal fluids. The remaining two RC holes, 14REERC028 and 029, were drilled in November 2014 at the Fresh Well prospect located immediately north-east of the 1050 East prospect, targeting an historic RAB-defined Cu-Pb-Zn geochemical anomaly. No significant mineralisation was found. Overall, the Year 3 drilling disclosed only limited zones of disseminated sulphides and very thin veins of massive sulphides at Extension Tank prospect. The thin massive sulphide veins have a similar mineralogy and associated alteration to massive sulphides intersected at the 1050 East prospect, 12 km away to the north. Renascor concluded that although one of the disseminated sulphide zones has significant low grade copper mineralisation up to 36 m wide, no continuity of this mineralisation could be established. No further exploration was undertaken on EL 5012 during licence years 4 and 5, before the decision was made by Renascor to allow its tenure of the Cultana area to lapse.