In 2004, South Boulder signed a farm-out Joint Venture agreement with Independence Group NL. The agreement allows Independence to earn 70% of the nickel rights on South Boulder tenements within the Duketon Greenstone Belt by completing a Bankable Feasibility Study within five years.

The Joint Venture area covers approximately 100 strike kilometres of ultramafic rich stratigraphy in the Duketon Greenstone Belt. Situated between the Windarra nickel discovery and BHP Billiton’s Collurabbie discovery, it is considered highly prospective for nickel, copper and platinum group elements.

South Boulder has three primary nickel targets, The Bulge, Camp Oven and Bandya Prospects.

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