Base metal exploration carried out over an area extending from 8 to 20 km north-northeast of Olary has consisted of a in-depth technical review of past exploration results, plus limited 1:10,000 scale geological mapping, bulk sampling of sulphide-bearing material on the mine dumps at the Olary silver mine, and the acquisition of two lines of Crone Pulse EM coverage, with readings taken every 50 m, also at the Olary silver mine. It was concluded that the Mount Perseverance - Olary silver mine prospect contains a similar stratigraphic succession to that outcropping extensively in The Willyama Complex within South Australia, and which exhibits anomalous base metal geochemistry. At the prospect studied, metals are commonly concentrated in the surficial oxidised zone. They appear to have been emplaced by lateral secretion into quartz vein structures during metamorphism, and the assay results evident from past surface and drillhole sampling thus reflect a 2-stage concentration process. The vein widths are small and the base metal sulphide grades are low, suggesting that any primary sulphide in the area would be characterised by very low grades. In view of this it was decided to allow EL 553 to lapse.