Mega’s wholly-owned subsidiary, Mega Hindmarsh Pty Ltd ("Hindmarsh"), holds, or is earning interests in, exploration tenements totaling 3142 km² in South Australia.

South Australia is one of the most attractive uranium exploration jurisdictions in the world, based on its geological prospectivity, its favourable regulatory environment, and the State Government’s support and facilitation of uranium exploration. The state contains the world’s largest uranium resource (Olympic Dam), one of the world’s largest producing ISL uranium mines (Beverley), plus numerous smaller uranium deposits and occurrences of a variety of styles.

The Hindmarsh properties, which are at various exploration stages from grass roots to drill testing, contain potential for uranium discoveries of the Iron Oxide Cu-Au-U (IOCGU) deposit style similar to Olympic Dam, Unconformity-related types, and Sediment-Hosted deposits in Tertiary palaeochannels. Brief project summaries are presented below.

Cronje Dam Project

The Cronje Dam project comprises three exploration licences (total 1502 km²), at the northern margin of the Tertiary Murray Basin, located immediately south of an area of Proterozoic basement of the Curnamona Craton that contains the Radium Hill, Crockers Well and Mt Victoria uranium deposits. The project holds good potential for the discovery of sediment-hosted uranium deposits similar to the large uranium resources at Beverley and Honeymoon, which are currently in production, and Beverly Four Mile, which is soon to be exploited.

In previous exploration of the area in the 1970s, drilling delineated uraniferous palaeochannels with a best intersection of 3m @ 507ppm U₃O₈ at 105m depth in the Kinloch Dam area. To date, Mega's widely spaced drilling has intersected uraniferous horizons including 4m @ 236ppm U₃O₈ from 98m depth at Olary Creek and 2m @400ppm U₃O₈ from 140m depth in the Gairloch Dam area.  

Gawler Project

The Gawler Project, located ~70km northwest of Kimba township on the Eyre Peninsula, comprises the Peterlumbo Hill exploration licence, which is held by a subsidiary of the Australian public company Investigator Resources Ltd (ASX:IVR). The project is held by a joint venture of Hindmarsh (25%) and Investigator (75%). Currently exploration programmes are being funded by both companies, based on their respective interests, and are being managed by Investigator.

The initial target in the project area was mineralization of the Iron Oxide Cu-Au-U style similar to Olympic Dam, but since early 2010 exploration has focused on the potential for shallower epithermal mineralisation following Investigator's discovery of significant silver at the Paris prospect wthin volcanics adjacent to brecciated rhyolite dykes. To date drilling has intersected significant silver and lead values over a 900m length, including best intervals of 4m @ 1052g/t Ag from 72m to E of H and 12m @ 10% Pb from 33m. Further details can be found on the Investigator website www.investres.com.au

Eucla Project

The Eucla Project consists of the Mt Christie Siding exploration licence (395 km²), the remnant portion of a much more extensive site of tenements previousy held by Mega in the area. Potential exists for sediment-hosted uranium in Tertiary palaeochannels.

Corunna Project 

In the Corunna Project, located to the west of Port Augusta, the exploration target is unconformity-related uranium within the Mesoproterozoic Corunna Conglomerate. The project comprises four exploration licences with a total area of 662 km². Mega holds one EL, Corunna North, and is farming-in to the others.

In the Old Wartaka and Iron Knob ELs, Mega can earn from the Australian public company, Fission Energy Ltd (ASX:FIS), a 51% interest in the uranium content of both tenements through incurring expenditure of $A300,000 by 2012. Mega then has the option to increase to 75% through additional expenditure of $A500,000.

In the Harris Bluff EL, Mega can earn a 51% interest in the uranium content from the Australian public company Venture Minerals Ltd (ASX:VMS, 51%) and the private company Doray Minerals Ltd (49%), through exploration expenditure of $A300,000. Mega can then increase to 75% through additional expenditure of $A450,000.