Mount Peake Project Technical annual report 22 October 2009 to 21 October 2010 EL 23271

Abstract

During the reporting period TNG completed a geophysical review of the Mount Peake project area resulting in a number of targets recommended for follow up and drilling. The regional airborne magnetic data and airborne electro-magnetic data (GeoTEM) over the Mount Peake project covers the entire area of EL 23271. The data was remodelled in February 2010. The initial interpretation of the regional magnetic data and resulting model identified three principle magnetic domains selected for more detailed work. EL 23271 lies within the northern domain. Four drill holes have been proposed to test targets within EL 23271. A review of the airborne GeoTEM, flown by Fugro Airborne Surveys in 2003, was completed in March 2010. Thirteen late-time, intermediate to strong conductive features were identified in the GeoTEM data. Further review noted a further 35 targets, six of which fall within EL 23271. Gravity and ground EM was carried out on two of these targets and drilling is recommended. Exploration in the next year will focus on drill testing of selected anomalies. Ground geophysical work and drilling to effectively test the targets, is planned for the 2011 field season.