As part of a regional search for possible buried Olympic Dam type, Middle Proterozoic basement-hosted base and precious metal deposits, a prominent aeromagnetic anomaly located just to the east of Pinery Dam was delineated and its source modelled by data collected along ground magnetic and gravity survey traverses. The model derived was of a steeply dipping source body, 3 km long and up to 800 m wide, elongated north-south and lying on the north-west flank of a broad gravity high. DDH CD1 was drilled to 150 m depth to test these anomalies and to elucidate the local stratigraphy. Adelaidean age Stuart Shelf sediments were not intersected before reaching basement. The aeromagnetic anomaly originating from therein is attributed to an ilmenite-rich dolerite dyke which apparently intrudes the Gawler Range Volcanics. Drill core sample assaying returned generally low trace metal values, and no significant mineralisation was recorded.