An area located adjacent to the southern margin of the Gawler Ranges, that includes some exposures of Mesoproterozoic Gawler Range Volcanics (GRV), and which at its southern boundary lies approximately 15 km north-east of the Menninnie Dam Pb-Zn-Ag deposit, has been taken up to explore for possible economic gold and base metal mineralisation buried in that locality, particularly that of Menninnie Dam style, or indeed of any other deposit style the formation of which was penecontemporaneous with the Hiltaba-GRV magmatic and mineralising event. To date only one exploratory hole has previously been drilled on the EL 4669 area, to just 46 m depth, encountering diorite beneath Quaternary alluvium. As its initial field activity, the licensee acquired a detailed helicopter-borne Versatile Time Domain EM (VTEM) and aeromagnetic combined survey over its contiguous ELs 3535, 4285 and 4669, when selected parts of EL 4669 were flown on 6/5/2010 along north-south lines using a 41 m nominal terrain clearance for the EM sensor. The aim of the VTEM survey was to obtain information to assist with predicting the distribution of prospective Middleback Subgroup stratigraphic unit correlatives (or look-alikes) beneath the southern parts of the GRV. Terramin's recent exploration work in the Menninnie Dam area had suggested that there may be a strong component of dextral shear along spaced dislocation zones present throughout the northern Cleve Domain, and this factor may mean that there is potential for structural repetitions of prospective carbonate-rich rock packages beneath the GRV in the Kolendo area. During early 2011, processing of the new airborne EM and magnetic survey data got underway after an unforeseen delay in receiving them from the acquisition contractor. Because gaining ready access onto most of the subject licence area was still hampered by unresolved legalities, pending finalisation of an Indigenous Land Use Agreement for it, the licensee was only able to commence restricted surface geochemical exploration during June 2011. Reconnaissance surficial soil sampling of disturbed corridors along tracks and fence lines was undertaken at 100 m sample point spacing (374 samples collected), for preliminary assaying via a portable XRF spectroscopic instrument. The minus 2 mm soil fraction was analysed from material in part collected by power auger drilling down to a maximum depth of 50 mm. The licensee considered that it was premature to attempt to interpret these preliminary geochemical results until laboratory analysis of a representative selection is completed, because any dispersive anomalies from basement mineralisation beneath the GRV are likely to be subtle at best, and it was uncertain whether the detection limit of the portable XRF would be low enough. It was hoped that base metal mineralisation within the GRV (cf. Menninnie Dam Viper-style) should be readily detectable. During the 2012-2013 licence year, exploration consisted of an ongoing review of historical data, the continuance of land access negotiations, planning of a ground EM survey to follow up selected VTEM airborne survey conductivity responses at three locations, and the conduct of additional detailed geological fieldwork to assist with delineation of structurally controlled hydrothermal Ag-Zn-Pb and epithermal Au-Ag-(Cu) systems. Observations made in the field during this reporting period, in Terramin's view, have significantly improved the Mount Kolendo tenement’s perceived prospectivity for epithermal precious metals deposits and, to a lesser extent, for small to moderate-sized IOCG deposits. Track and fenceline traverse mapping (376 km covered) and reconnaissance lag sampling (109 samples collected) were progressed, to become approximately 55% completed. Additional sites of epithermal alteration, quartz veins, breccias and lag/float fields were located within Gawler Range Volcanics Upper Series outcrops, and preparation of samples for petrological and geochemical work was commenced. 2D geophysical modelling and interpretation of the portions of the airborne VTEM dataset acquired over EL 4669 were performed for Terramin by consultant David McInnes, and his various progress reports on that work are included herein. In early October 2012, EL 4669 was included in the Menninnie Dam Joint Venture formed between Menninnie Metals Pty Ltd and Musgrave Minerals Ltd, which JV also applies to four adjoining licences ELs 4285, 4813, 4865 and 5039. The signing of this agreement was the culmination of two years of interactions with an eventual total of nine parties who were interesting in joint venturing on some or all of the said tenements. Terramin's promotion of the JV opportunity necessarily involved it making a review of conceptual target types on the five contiguous tenements, and regional geological and economic geological aspects of this review that relate to EL 4669 are summarised in the subject 2012-2013 annual report.