Mount Peake Project Annual report 13 August 2009 to 12 August 2010, EL 27069

Abstract

EL 27069 was granted to Enigma Mining Limited (Enigma) on the 13 August 2009. Enigma is a wholly owned subsidiary of TNG Ltd. The licence forms part of TNG's Mount Peake Project area together with EL 23074, EL 23271, EL 27070, EL 27706, EL 27787 and ELA 27941 and covers a total area of 245.9km2. Exploration carried out on EL 27069 during the reporting year has mainly been of a regional nature. A full literature review was carried out on the historical data and reviews of the current geophysical data were undertaken. Review of the regional magnetic data revealed three principle magnetic domains being selected for more detailed work. The eastern domain lies almost entirely within EL 27069 and drilling has been recommended in the area. Thirteen late-time, intermediate to strong conductive features were identified from a review of the available GEOTEM data by Planetary Geophysics, and five of these features fall within EL 27069. Each of these features will require review on the basis of known geology, geochemistry, regolith and drilling. Southern Geoscience Consultants have also identified 35 targets from the GEOTEM and other geophysical data. Nine of these targets fall within EL 27069. All of these targets are recommended for follow-up with a moving-loop EM survey. The geophysical review work carried out in the 2009-2010 season has provided targets for follow-up work generated from both the regional magnetic and GEOTEM data. Ground geophysical surveys, particularly moving loop EM surveys will be used to delineate targets for drill testing.