Annual report for EL 23401 'Mt Peake Project' for the period 25th November 2003 to 24th November 2004

Abstract

Exploration carried out over the EL 23401 during the reporting period included the acquisition of geological, topographic and geophysical data, GIS compilations and data reviews, compilation of openfile data. Astro Diamond Mines NL (formerly Astro Mining NL) applied for EL 23401 on 2 October 2001, the tenement was granted on 25 November 2003 covering an area of 939.3 km2. Exploration Licence 23401 lies in the Tanami Desert of south central Northern Territory approximately 40km north-east of Mt Peake and 20km north-west of Barrow Creek. Access to the area would be through Barrow Creek, and then taking various station tracks. Previous exploration by Normandy NFM Limited indicates that outcrop of the Proterozoic rocks is very sparse in the area and is dominated by Quaternary aeolian sands and red soils, with minor Tertiary laterites. The Proterozoic bedrock in the region comprises the Lower Proterozoic Bullion Schist, which consists of metamorphosed shelf sediments and minor volcanics. These are overlain by Middle Proterozoic sediments and intruded by granites, and subsequently overlain by Late Proterozoic sediments. The tenement area itself is largely underlain by granites with roof pendants of Bullion Schist. The Cenozoic cover can vary from less than one metre, to over 50 m in large Tertiary palaeochannels. Previous workers have noted the occurrence of a number of extremely dense and magnetic circular bulls-eye aeromagnetic features that are probably concealed mafic plugs. No significant field exploration has been undertaken by the current operators.