Moonagee (EL7198) is located approximately 20km NNW of Nyngan in western NSW. The Macquarie Arc is interpreted to extend at depth beneath transported Quaternary cover and the Cretaceous to Jurassic sediments of the Great Australian Basin north of Nyngan.

Several arc fragments are interpreted from magnetic and gravity imagery north of the basin boundary, with Moonagee situated on a basement magnetic complex approximately 11km long and 5km wide.

The project was formerly a JV Option Project with Gold Fields, which has now been returned to Clancy. Gold Fields reviewed the previous exploration in the area but did not carry out any fieldwork on the project. Work completed by Clancy since the JV Option period included reprocessing regional geophysical imagery and a re-interpretation of the regional setting. A new exploration strategy for the tenement has been devised and will be implemented in 2011.