Second year annual report for EL 26927 Mount Peake project for the year ended 31 March 2011

Abstract

The tenement is located approximately 260km NNW of Alice Springs in the Northern Territory and covers portions of the Mt Peake 1:250,000 map sheet. The tenement lies within the Stirling Perpetual Pastoral Lease and is subject to Native Title. Access to the area is facilitated by the Central Land Council through an Exploration Deed. The project area can be accessed via the all weather Alice Springs-Darwin Stuart Highway. Additional station tracks extend off the highway through the project area and are accessible by the use of four wheel drive vehicles. The Darwin railway line and LNG pipeline are located near the Stuart Highway about 40km east. The region has poor local infrastructure. Water is scarce and all domestic sources are from bores, however, the ephemeral Mt. Peake creek flows from West to East across the Northern part of the license area. There have been no mines, resources and little historical work established within this tenement. During the second year of tenure, access was severely curtailed by record rainfalls, however, existing airborne EM data was acquired and interpreted as well as the Mt. Peake 500m I.S. AMAG and radiometric data.