As part of the South Australian Steel and Energy Project, MESA has explored several significant aeromagnetic anomalies to try to find a possible iron ore resource. The Sequoia, Wirrida and Gina magnetic anomalies were chosen as indicating prospective targets. At the Sequoia prospect, ground magnetic and gravity surveys plus RC-hammer and diamond drilling have outlined an Inferred Resource of 22 Mt of low grade magnetite ore grading 28.4% Fe. The ore zone comprises several steeply dipping, laterally discontinuous magnetite-BIF (banded iron formation) layers from 2 to 50 m wide. The depth of weathering is about 45 m. The magnetite-BIF is readily beneficiated to a high grade magnetite product grading 70.3% Fe, 3.7% SiO2, <0.01% P2O5 and 0.29% Al2O3. Detailed drilling is recommended to test the continuity and strike extent of this deposit. At the Wirrida and Gina prospects, thirty out of thirty one vertical RC drillholes penetrated basement at from 4 to 44 m depth, this comprising leucogabbroic and granitic igneous rocks considered to represent the upper portion of a differentiated basic intrusion. One hole (ING2) was terminated within the Stuart Range Formation. Although the prospectivity for iron ore of the region containing these two prospects was shown to be not encouraging, the perceived prospectivity for other base metals, including Ni-Cu, PGE (platinum group elements) and Au has now been enhanced as a result of MESA's new drilling results. Anomalous base and precious metal values are widespread, and sulphide minerals of primary igneous origin are visible in hand specimens and in thin sections.