Petratherm Limited announce that it has secured a ground position over a portion of the Mabel Creek Inlier covering a number of semi-coincident magnetic and gravity anomalies which have not been drill tested. These geophysical features have potential to be due to hydrothermal iron-oxide systems. Mineralised examples of these occur along the eastern margin of the Gawler Craton of South Australia and include Olympic Dam, Carrapateena, Prominent Hill and most recently at BHP's latest discovery at Oak Dam. The Mabel Creek Inlier is a large block exhibiting variable magnetic intensity and lies to the north of the Mount Woods Inlier which hosts the Prominent Hill Copper-Gold deposit. Importantly, depth of the overlying cover sediments in this region is minimal, with historical drilling recording the top of the prospective basement between 180 metres and 260 metres. Recognising the regions prospectivity for IOCG style mineralisation, several major companies, including BHP, Vale, Teck Resources and Anglo American, undertook some early stage exploration over portions of the Mabel Creek Inlier. This work generally comprised widely spaced regional ground gravity surveying and included some limited single hole drill testing of magnetic and/or gravity features. Many of the early stage geophysical anomalies defined by this work were not followed up with more detailed surveying and have not been drill tested. Petratherm is reviewing previous exploration results and processing geological and geophysical data in preparation to commence field work once the tenement is granted. Regional gravity station spacing over most of the tenement application area is 500 metres by 2,000 metres and additional infill gravity surveying of the existing gravity data is warranted to locate, define and rank targets ahead of potential drill testing.