In continuing exploration of a fragmented licence area consisting of four separate small sub-blocks located just short distances to the south and south-east of Lake Callabonna, the JV partners are pursuing the same targets as previously, including possible buried Tertiary sedimentary uranium deposits and also IOCG type deposits which may be hosted by Palaeoproterozoic and Mesoproterozoic metamorphic basement rock sequences underlying the cover of Mesozoic Eromanga Basin sediments. The regional geophysical signature in the area suggests that the top of the inferred prospective Proterozoic basement lies at an average depth of ~500 m beneath the surface. During the 2014 reporting year, an infill ground gravity survey totalling 712 stations was acquired in August to delineate six areas of interest located inside the eastern three sub-blocks, with readings taken on 200 m x 400 m grids in part closing in to 200 m x 200 m over two anomalies designated as FE1 and FE4. These have been firmed up as recommended drill targets. During the 2015 reporting year, additional processing of the infill gravity data from the 2014 survey was performed by Red Metal, which identified two low priority targets designated as FE2 and FE9. During the 2016 reporting year, further processing of gravity data revealed a small density anomaly that coincides with an intense magnetic high located within the Area 'A' north-westernmost sub-block of EL 5360, near Woolatchi Creek, which Red Metal thought could be the best available drilling target on the licence. A proposal was submitted to DSD for a grant of PACE Initiative Year 9 collaborative drilling subsidy funds to assist with the cost of drill testing this target, and an amount of $100,000 was approved to contribute to this venture, now designated as PACE Copper Discovery Drilling Project DPY9-10. During the 2017 reporting year, exploration activities included the drilling of single deep diamond hole to 712.1 m to test a magnetic target. Basement was intersected at 570 m, comprised of banded quartz, feldspar, biotite and quartz, feldspar, pyroxene gneissic metasediments with strong hydrothermal magnetite alteration and abundant magnetic iron sulphides (pyrrhotite) over a 59 m interval from 604 m. Visible copper sulphide mineralisation was minor. The hole ended in strong hydrothermally altered metasediments with reduced sulphide content. Core assays returned low levels of copper, gold and trace elements. During the 2018 reporting year work completed included a review of the remaining target concepts, along with planning for trial SQUID ground EM surveys over select targets.