Mount Peake Project Final Report EL 23074, 22 July 2002 to 8 August 2012

Abstract

Exploration Licence 23074 was granted to Tennant Creek Gold (NT) Pty Ltd (TCG) on the 22 July 2002, and was set to expire on 21 July 2008. TCG is a 100% subsidiary of TNG Ltd (ASX: TNG). On 29 May 2007, TCG transferred the licence ownership to Enigma Mining Ltd (Enigma), another wholly owned subsidiary of TNG Ltd. EL 23074 was renewed for a period of two year until 21/07/2010 and again until 21/07/2012. Another renewal application was completed for the licence, but prior to it's approval EL 23074 was amagamated entirely with the northern Mount Peake licence EL 23271 and a new licence number assigned (EL 29578). EL 29578 was granted on 8 August 2012 and the above licences ceased on 7 August 2012. A number of geophysical and drilling programmes have been undertaken across the licence resulting in the discovery of the world-class Mount Peake Fe-V-Ti deposit. The project has reached the feasibility stage with mining operations planned for 2015. All continued work on the licence area will take place under EL 29578.