The Pernatty Project is located approximately 20 km SSE of the IOCG deposit at Carrapateena, within Exploration Licence 6137. The area was initially targeted by Tasman Resources Ltd due to available geophysical data, the possibility of reasonable basement depths and its proximity to Carrapateena. Importantly, Tasman’s regional geological studies identified Pernatty as lying within an interpreted prospective “corridor” containing the most commercially favourable IOCG deposits at Olympic Dam, Wirrda and the three deposits in the Carrapateena area. Recently, BHP has announced the potential discovery of a major new deposit at Oak Dam West, which is also located within this interpreted corridor. There has been no previous drilling within the tenement. Tasman has been exploring the Stuart Shelf area since 2002. Most of this work has been focussed to the north, north-east, and north-west of Olympic Dam, leading to large exploration projects at Vulcan, Marathon (South) and Titan. The target of this work has been IOCG style deposits. The tenement is within the Stuart Shelf, an area of generally flat-lying Late-Proterozoic sediments (and rarely volcanic rocks), overlying Early- to Mid-Proterozoic basement rocks. These basement rocks, on a regional basis consist of variably metamorphosed sediments and intrusives, granites and intermediate and felsic rocks belonging to the Mid-Proterozoic Gawler Range Volcanics During licence Year 1, the principal exploration activities undertaken by Tasman Resources on EL 6137 has included data review, initial geophysical modelling, two detailed ground gravity surveys and subsequent geophysical modelling. The first of the gravity surveys consisted of 358 new gravity stations to infill existing data at 1 km x 1 km spacing and locally at a 200 m x 200 m coverage. The second survey followed up on the need for further detailed surveying, with 271 new stations to bring the level of coverage up to 250 m x 250 m grid spacing. Tasman contracted J Hanneson of Adelaide Mining Geophysics to model combinations of all available geophysical data for the area. Residual gravity results obtained from the new surveys combined with existing data identified a number of distinct anomalies. When modelled with existing magnetic data, several IOCG potential target areas were defined at relatively shallow depths. During licence Year 2, the principal exploration activities completed during this period were ground TEM surveying (54 line-km) and geophysical modelling and interpretation of available, gravity, magnetic and EM data. The moving loop ground TEM surveying was carried out as two separate surveys by Zonge Engineering July – September 2019, over priority gravity and magnetic targets identified in the previous reporting period. Geophysical modelling and interpretations were again completed by J Hanneson of Adelaide Mining Geophysics, 5 EM targets were identified, two standalone and three associated with coincident gravity and magnetics. None of the EM targets appear to be iron rich and hence. The applicable mineralisation models are uncertain at this stage. Follow up drilling is planned. As there has been no drilling in the area the local depth to basement is unknown, and the conductivity contrast between the cover rocks and basement is insufficient to determine a clear interface in the conductivity depth images. During licence Year 3, the principal exploration activities completed during this period were a short ground TEM check survey (900 m) and all of the modelled EM target depths were found to lie within the cover rocks and none could be adequately explained by the drilling. Pandurra formation was intersected beneath the Neoproterozoic cover in the three deep holes. One of the deep holes also intersected the Beda Basalt volcanic-sedimentary sequence above thin Pandurra Formation in the southern portion of the tenement. Drilling of the three gravity-magnetic targets intersected basement comprising altered Donington Suite granitoid or Gawler Range Volcanics/Hiltaba Suite, devoid of sulphides or significant brecciation. The gravity - magnetic features tested by two deep holes in the northern portion of the tenement may be reflecting the mafic nature of the granitoid intersected and the associated dolerite intrusions. A narrow trough? of Beda Basalt may be the source of the gravity-magnetic feature tested by the deep hole in the south of the tenement. During licence Year 4, the principal exploration activities completed during the period included the portable XRF analysis of basement drill core intersections from the previous reporting period, the rehabilitation of drill sites and the preparation of core trays for submission to the DEM Core Library. Basement intersections of drill core from holes PRC001D, 005D & 006D from the 2020-2021 drilling program were analysed in 1 m intervals using a handheld XRF analyser by personnel from Challenger Geological Services in Adelaide. No significant results were recorded. During licence Year 5 no exploration work was carried out on EL 6137 during the reporting period ending 19th March 2023. The decision was made to fully surrender the EL.