A small area located ~80 km west-northwest of Coober Pedy, containing the known Paragon Bore BIF iron deposit and strike continuations of its host bedrock unit, was taken up to evaluate the probable iron resource to JORC-compliant Inferred and Indicated status, using all existing available data and adding in further data, where required, to be derived from the conduct of new work. The deposit is completely buried under some 150+ m thick cover, and has been previously drilled to only a very limited extent. Prior to the grant of the subject tenement, the strong coincident magnetic and gravity anomalies at Paragon Bore were geophysically modelled for the licensee by consultant Matthew Hutchens to provide 3D spatial inputs to a calculation of the contained economic iron minerals (both magnetite and hematite). His model, and related geophysical data interpretation, indicated a probable strike length of magnetite BIF sequences in the order of 16,000 m within the large scale geophysical complex at Paragon Bore. The licensee's review of previous work done on the deposit noted that Davis-Tube Recovery (DTR) magnetic separation test work had been performed by BHP at Whyalla in the 1980s, on selected samples of iron-mineralised drill core from Paragon Bore, which had produced a high grade, low-impurity mineral concentrate of up to 70% Fe content, with high recoveries. Using this information, an initial estimate was calculated for the indicated, plus the yet-to-be-tested, Exploration Target of iron ore likely to exist at both the Paragon Bore Western and Eastern prospects, which amounts to 3.7 Bt (not all located within EL 5886). At an inferred 25% Fe average in-situ grade, this represents ~923 Mt of total contained iron mineralisation, of which it is estimated that ~852 Mt is magnetite and ~74.7 Mt is hematite. Resource Holdings entered into discussions with a number of international and Australian parties with the aim of completing a joint venture to fund envisaged development of the Paragon Bore iron ore deposit, besides also undertaking proposed exploration for IOCG type mineralisation in deeper basement rocks on the tenement. As part of the proposed joint venture activities, drilling of more than 100 new holes and acquisition of infill geophysical surveys were planned to allow for delineation of a JORC Resource at Paragon Bore and also to search for other, new iron ore occurrences within the licence area and across other JV project areas within the northern Gawler Craton. A related geological mapping and structural remote sensing programme was also planned for commencement in 2018. However, during the second licence year no JV partner was signed on and no field work took place. Tenure was allowed to lapse at the end of that year.