The major Iron Oxide Copper-Gold (IOCG) deposits in Australia (Olympic Dam, Ernest Henry) are 'blind' deposits that were discovered under younger cover. Exploration for this style of mineralisation presents a new set of problems to the explorationist, and involves target definition applying criteria gleaned from work in known areas and extrapolating into new target areas.

Equinox applies a model for IOCG mineralisation principally derived from studies of known mineralisation in the Cloncurry region and the Stuart Shelf/Gawler Craton of South Australia. This model was initially applied in Australia, and was later extrapolated to Zambia in Central Africa and the Norrbotten region in Sweden.