A limited exploratory drill programme to test a deep target, that was partly subsidised by the SA Government under approved PACE Initiative Year 9 collaborative drilling project DPY9-16, was undertaken to investigate the potential for IOCG mineralisation to exist in Proterozoic basement rocks buried beneath the Great Artesian Basin at a prospect situated to the east of the Denison Range, ~80 km south-east of Oodnadatta. Drilling of a single, vertical, rotary mud precollared, HQ diamond cored hole to a total depth of 550 m was undertaken at a selected site on Peake Station during May-June 2017. Prior to the commencement of drilling, a detailed ground gravity survey of 828 stations had been acquired during May 2015 at the Coppertop Hill prospect, with gravity readings taken at 100 m intervals along east–west lines spaced 200 m apart. This was complemented by the flying during June 2015 of a helicopter-borne magnetic/radiometric survey which covered all of the licensee's EL 5302 and its adjoining EL 5581 to the north-east. Coverage on the Peake Hill area was ~500 line km along east-west flight lines 50 m apart, using a 30 m mean sensor elevation above the ground surface. The resulting new geophysical data was modelled and interpreted by a consultant, who identified four possible IOCG targets which were described and ranked in the licensee's PACE funds grant proposal, with estimated depths to top-of-anomaly for the semi-coincident gravity and magnetic anomalies varying by up to 170 m, depending on the model input average density values and also the positions of the various target bodies within the prospect. Hole MTDD001 encountered the top of the basement at a depth of 182 m, considerably deeper than had been prognosed, which shows that there has been substantial downfaulting of the basement close to the eastern edge of this part of the outcropping Peake and Denison Inliers. Rocks of the Palaeoproterozoic Peake Metamorphics (basalts, metasediments, amphibolites) dominated the lithologies logged in the drill core, which contains only minor quartz veining similar in style to noted hydrothermal occurrences that are present in the adjacent outcropping inlier rocks. A strong and consistent foliation and lithological contacts orientated at 20-40 degrees to the core axis were seen, that correspond to the structural dip orientation noted in outcropping Peake Metamorphics to the west. No strong indications for any presence of an IOCG mineralisation system were observed, and at the drilling depth required in this location to reach basement below the Great Artesian Basin sedimentary sequence, the current economic scope for exploiting any primary metallic mineralisation that might subsequently be found there is considered negligible.