Petratherm Limited announced that gravity survey operations have begun over an eastern portion (EL 6333) of its Mabel Creek Project Tenement holdings over several highly prospective Iron Oxide-Copper-Gold (IOCG) targets. The gravity surveys will define gravity anomalies in more detail to aid 3D modelling from which optimal drill test locations can be selected. The initial survey will take approximately 2 to 3 weeks to complete covering 7 key target areas. The survey is the first part of a larger targeting campaign planned over the coming months on adjoining prospective areas the Company holds under licence. These initial targets occur over an approximate 400 km2 area however, the Mabel Creek Project in its entirety spans 2852 km2 of tenure. The Mabel Creek Ridge is an ENE trending zone of shallow covered basement rock which display high magnetic and gravity relief along the eastern margin of the Gawler Craton. It is prospective for large Olympic Dam Style Copper-Gold (IOCG) mineralised systems but is also considered highly prospective for related, magnetite skarn copper and high value rare-earths. The Mabel Creek Inlier has only been lightly explored for IOCG style mineralisation, however at the Cadi Prospect which is adjacent to Petratherm's tenements, limited widely spaced historical drilling intersected mineralised magnetite-amphibole-pyroxene rock containing significant concentrations of copper and rare-earths. Carbonatites are a distinctive class of igneous rock defined by mineralogic composition consisting of greater than 50% carbonate minerals. They are the source of the much of the world's supply of high value light and heavy rare-earths (i.e. Mt Weld, WA) and in some instances include economic copper concentrations such as at the world-class Palabora Copper Deposit in South Africa (total copper resource ~ 1200 Mt at 0.59% Cu). The mineralised portions of these intrusive systems are typically magnetite rich and therefore easily identified with magnetic surveying. The better drill intercepts at Cadi Prospect to date, relate to the most magnetic portions of the target with mineralised intervals containing typically greater than 20% magnetite. On Petratherm's ground immediately to the north several discrete magnetic targets have been identified which are prospective for this style of mineralisation. In addition to the gravity surveying the Company will undertake ground magnetics over these discrete magnetic anomalies in the coming weeks to aid drill targeting for this new potential style of mineralisation in the region. The Company has been working with Native Title Holders to complete Mining Access Agreements to allow geophysical surveying over the remainder of the tenement package and to allow subsequent drilling activities. This work is advanced, and it anticipated agreements will be finalised in the coming weeks. Once completed heritage drill clearance surveys will be undertaken for currently planned drill testing of some the better targets during the spring period.