This report details the field acquisition and data processing, inversion and interpretation stages of the Walparuta geophysical program conducted in December 2021. The work was focussed on the Walparuta Project area, located 20 km north of Manna Hill township on the Barrier Highway, South Australia. Here most of the previously reported past mineral exploratory work had been focussed around the historic Walparuta copper mine, with limited modern exploration done in the surrounding country. Due to the complexity of the geological setting and paucity of modern geophysical data available to use, Longreach determined that obtaining new high resolution geophysical data was required to for the company to be able to better map the subsurface geology and assess its IOCG mineral potential. After receiving Accelerated Discovery Initiative Round 2 funding assistance from DEM, a ground gravity survey was conducted for Longreach by Daishsat Geodetic Surveyors Pty Ltd in early December 2021, with a total of 1346 new stations read at 75 m intervals along lines spaced 75 m and 150 m apart, to give complete coverage of the project area. Shortly after the ground gravity survey acquisition was completed, a high resolution (20 m flight line spacing) helicopter-borne magnetic / radiometric survey was conducted for Longreach by AeroSystems Australia Pty Ltd, to produce 840 line km of data covering the project area. Overall, the quality of the resulting field data was good for both the magnetic / radiometric and ground gravity surveys. The survey methods used have been demonstrated to have been accurate, reliable and conducted to the highest standards with modern calibrated acquisition equipment run by professional, experienced staff utilising proven acquisition techniques and quality control procedures. The final data product acceptance QA/QC, verification, processing and geophysical inversion steps were subsequently conducted for Longreach by independent geophysical consultants Terra Resources. Interpretation of the surveys' data was performed in-house by Longreach. A 3D geological model covering a 6 km E-W x 3 km N-S extent was later constructed for Longreach by Kenex, using the licensee's detailed interpreted 2D map of the solid geology underlying EL 6484, plus inputs from the interpreted newly acquired geophysical data. Longreach is of the opinion that this ADI Project now completed in the Walparuta Inlier area using grant funds obtained from the SA Government has proven its value through generating immediate IOCG drill targets suitable for follow-up exploration. The spatial and inferred geological aspects of these targets will now be interrogated to select to best advantage the drilling method / rig type, locations, inclinations and orientations of the planned holes.