Thanks Gazelle13 for the research on this project. Good work...

Thanks Gazelle13 for the research on this project. Good work there. Have done some research also following your leads and found the Australian article 18th Feb as below.
Sounds like there is great potential here - I am in for the long ride on this one.

The Australian 18/02/2008.
Nowa Nowa ore hope
HERE'S a new one on us - iron ore in Victoria.

Gulf Mines has taken an option over the 100sqkm Nowa Nowa project just north of Lakes Entrance. The deposit was reported in 1901 by the Victorian Geological Survey and there were thoughts of building a new industry using the vast brown coal resources nearby. The plan never went any further and all that iron ore - however much there is - remains in the ground.

Gulf's managing director Graham Reveleigh has heard people say the Nowa Nowa project has geological similarities with the Tennant Creek area, but he doesn't think so. He spent 15 years in that area with the now long-gone miner Australian Development, so should know. But he believes there is a chance that Gulf can prove up a commercial magnetite deposit.

Gulf listed in October 2005. It has a copper and uranium project in the Northern Territory and the Ebagoola gold project in Far North Queensland. Iron ore could be the third spoke.