The PACE Initiative Year 9 collaborative drilling project DPY9-10, which was undertaken between the Callabonna joint venture partners and DSD, aimed to discover a new copper-gold mineralised Iron Oxide Copper-Gold (IOCG) magmatic centre, similar in setting to that of the Olympic Dam deposit, within the northern part of the Curnamona Province. A single deep vertical exploratory diamond drillhole, WO-17-01, was proposed to investigate a significant structurally controlled high magnetic intensity anomaly that is associated with a moderate amplitude gravity response, at a selected drill target location referred to as the Woolatchi prospect. This lies within the Area 'A' north-westernmost sub-block of EL 5360, immediately south of Lake Callabonna. Red Metal's geophysical modelling of the Woolatchi magnetic feature suggested that its source could be a wide, steeply south-west dipping, strongly magnetic body. During August 2014, the company acquired a detailed infill ground gravity survey on a 200 m x 200 m regular grid spacing to assist with optimum positioning of the intended drillhole. The approved DPY9-10 drilling programme was undertaken during April-May 2017, with a rotary mud precollared and permanently cased hole taken through the Cenozoic-Mesozoic sedimentary cover, and in particular the Frome Embayment pressurised aquifer sequence, to a depth of 583 m, before the tail of HQ diamond coring was commenced. Prior magnetic data modelling had indicated a top-of-basement depth of about 560 m. Drilling confirmed this prognosis, when WO-17-01 encountered basement at 570 m depth. The basement rocks seen in the drill core comprise banded quartz-feldspar-biotite and quartz-feldspar-pyroxene gneissic metasediments that have strong hydrothermal magnetite alteration, and which contain abundant magnetic iron sulphides (pyrrhotite) over a 59 m wide downhole interval from 604 m depth. Visible copper sulphide mineralisation in the core is minor. The iron and copper sulphides mostly occur as veins and disseminations along shears, or as vein stockworks associated with strong biotite and magnetite alteration or with localised pyroxene alteration of the metasedimentary sequences. Drilling was terminated at 712.1 m depth, after the hole has passed into banded quartz-feldspar and pyroxene - altered gneissic metasediments having a visibly decreasing iron oxide and copper sulphide content. Laboratory ICP-MS multi-element assaying of 26 selected drill core samples of the basement rock returned weakly elevated trace metal values corresponding to the sulphide-rich interval. Copper to a maximum of 819.7 ppm Cu was recorded from observed chalcopyrite-bearing sections of the drill core, while trace to slight amounts of zinc, tin, cobalt and silver are also associated with the sulphide interval. Elevated density and magnetic susceptibility readings obtained from petrophysical testing of the drill core are associated with the intervals of stringer sulphides. These density and magnetic susceptibility data will used to remodel the Woolatchi geophysical anomaly to determine if it was adequately tested by drillhole WO-17-01. The strong silica-feldspar-magnetite-biotite alteration and silica-feldspar-pyroxene alteration evident in the basement at Woolatchi prospect is regarded as typical of the early regional Na-Fe-Ca-K alteration seen in other prospective IOCG terrains around the world. The wide zone of strong pyrrhotite and minor chalcopyrite mineralisation associated with the biotite and magnetite alteration in WO-17-01 highlights the regional IOCG and Iron Sulphide Copper-Gold (ISCG) potential of the northern Curnamona district. Downhole and surface EM trial surveys across the deeply sourced iron sulphide mineralisation in WO-17-01 are in progress, and the likely scope for using EM methods to define large, potentially conductive, iron sulphide - rich copper-gold mineral systems under the thick, highly conductive Mesozoic and Tertiary sedimentary cover sequences in the northern Curnamona region is currently being assessed.