One of the magnetic anomalies noticed in the aerial magnetic survey of the Maitland Military Sheet has now been investigated in some detail. A preliminary ground reconnaissance disclosed the presence of two large magnetic anomalies in the vicinity of Balgowan which could possibly be interpreted as a pair of Synclinal magnetic beds pitching in a west south west and east north east direction respectively. The highest readings on one of the arms of the most southerly anomaly were so large that it appeared probable that the magnetic source causing this disturbance lies very close to the surface. A more detailed survey, using both gravity and magnetic techniques has now been conducted by C. Kerr Grant and University vacation student, K. Lokan, in order to define its position as accurately as possible and to obtain the greatest possible information concerning its probable interpretation.